Nationwide Building Society to Acquire Virgin Money
The bank Nationwide Building Society, which is based in the United Kingdom, plans to acquire retail lender Virgin Money.
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Revolut CEO Warns About Risk for London Status as FinTech Hub
Revolut’s new CEO in the United Kingdom is committed to being sure that London does not lose its status as a fintech technology hub in the future.
Neobank Monzo Raises $430 Million
Digital bank Monzo, which is based in the United Kingdom, on Tuesday, March 5, announced that it had managed to raise new capital for $430 million from investors.
SumUp Reportedly Aims to Raise $1.1 Billion to Refinance Debt
The media reports that the SumUp payment company, which is based in London, intends to raise €1 billion ($1.1 billion) from private creditors.
Barclays to Return £10 Billion to Investors in Overhaul
Barclays Plc announced its activity plans for the near future, which include taking measures to reduce costs, structural reorganization, and returning at least £10 billion to shareholders.
UK Falls Into Recession
The recession has become an economic reality in the United Kingdom, as evidenced by official data published by the Office for National Statistics (ONS) on Thursday, February 15.
UK Inflation Holds at 4%
In the United Kingdom, inflation remained at 4% in January, demonstrating what corresponds to such a concept as stability.
Revolut Launches Phone Plans for Travelers
Revolut, based in the United Kingdom and operates in the sphere of financial technologies, announced the launch of phone plans.
Barclays to Acquire Tesco Bank
Barclays has entered into an agreement to acquire Tesco’s retail banking business, including its credit cards, operating infrastructure, deposits, and unsecured personal loans.
Bank of England Governor Andrew Bailey Embraces AI
Governor of the Bank of England Andrew Bailey agrees with the opinion of the House of Lords that artificial intelligence should not be perceived as a risk to business.
Bank of England Opens Prospect of Rate Cuts in 2024
For the first time since the beginning of the coronavirus pandemic, the Bank of England opened the door to cut interest rates, confirming forecasts that the inflation rate will reach the target level in the coming spring, and warning of the likelihood of renewed price pressure.
Probability of Interest Rate Cut by Bank of England Grows
The Bank of England on Thursday, February 1, is likely to keep the interest rates at 5.25%, keeping this indicator within what can be described as sustainable stability.
Revolut Launches Cross-Border Mobile Wallets
Digital bank Revolut has introduced a new cross-border money transfer service called Mobile Wallets that redefines remittance experiences, requiring only receivers’ contacts for transactions.
India Is Among Top Fintech Cluster Hubs Globally
The World Economic Forum emphasised the role of thriving fintech hubs hosting clusters of fintech corporate headquarters and providing significant operating markets such as Singapore, the UK, the US, Mexico and India for the global growth of the fintech industry.
Aldi Introduces App-Free Payments at Checkout-Free Store
Customers at the checkout-free concept Aldi store in London can now simply tap their contactless payment card or mobile phone at a barrier to enter the store.
Zilo Raises £25 Million in Series A
British asset and wealth management software provider Zilo has announced that it has managed to raise 25 million pounds in a Series A funding round.
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