A proposal under the U.K.’s Labour Party would turn some post offices into bank branches, with policymakers pointing to the need to broaden access to financial services for small businesses. The BBC reported on Sunday (March 31) that Shadow Chancellor John McDonnell introduced the proposal...
Starling Bank, the U.K. digital banking platform, announced on Wednesday (Feb. 13) that it has raised £60 million ($77.15 million) in venture funding. According to a press release, the company said the Series C funding round was led by Merian Global Investors, including the Merian...
U.K.-based alternative small business lender iwoca is linking into data from Lloyd’s Bank accounts to streamline loan underwriting for joint customers. In an announcement on Wednesday (Oct. 31), iwoca said it is the first SMB lender to link into a high-street bank via open banking,...
It’s no surprise the financial service industry’s move toward open banking may not be the most favorable trend among banks. With data considered under ownership of the customers and not the bank, financial institutions are exposing themselves to market competition, security risks and other threats...
February 05, 2024
Open banking is set to change the world. But viewed through the lens of what’s happened so far, and through the lens of the United Kingdom’s experience, the road to transformation in payments and financial services appears long and bumpy. Differing Approaches And, as ever, the debate continues over the best way to implement open […]
February 13, 2019
Starling Bank, the U.K. digital banking platform, announced on Wednesday (Feb. 13) that it has raised £60 million ($77.15 million) in venture funding. According to a press release, the company said the Series C funding round was led by Merian Global Investors, including the Merian Chrysalis Investment Company Limited. Additionally, it had raised £15 million from […]
September 06, 2018
Monese, the U.K. bank challenger, announced on Wednesday (Sept. 6) that it has secured $60 million in venture funding. According to a company blog post, Monese said the funding will...
August 24, 2018
Britons residing in the European Union (EU) may no longer have access to bank account services and businesses in the EU if a non-deal Brexit were to occur. Citing the...
August 16, 2018
The Financial Conduct Authority (FCA) and the Competition and Markets Authority (CMA) announced on Thursday (Aug. 16) that consumers and small businesses will have better information about the services offered...
