Fintech news and finance tech, features and analysis

18 Sep

PSD2 deadline extension signals “lack of preparedness” among banks

The 14th of September was supposed to be the day that the last part of the Payment Services Directive, or PSD2, was rolled out across the EU.

18 Sep

Automation

Why insurance needs Tesla’s autopilot too

“Hello Timo, nice to see you.

16 Sep

Payments innovation could cost banks $280bn in lost revenue by 2025

Traditional banks that are slow to respond to innovation in the banking industry could lose up to $280bn by 2025 as the offer of instant, invisible and free payments wipes out once lucrative payments revenue channels.

5 Sep

The State of Open Banking: Despite promise, significant challenges hold banks back

While financial service providers recognise the promise of open banking, few feel that they’re in the best position to take advantage of it.

3 Sep

In the move towards cashless, consumers are worried about going cardless

According to a study conducted earlier this year by UK Finance, just one in ten adults in the UK now opts to only use cash, with the rapid with the rapid growth of contactless payment and decline in the number of ATMs leading many to predict that the UK may become a cashless society in

27 Aug

Natwest and RBS IT glitches “may result in reputational damage”

Natwest and RBS customers have been left without access to their online accounts after the two banks were hit by IT issues.

6 Aug

Breaking banks

Monzo PIN breach – a GDPR fine in the making?

Monzo has told some 500,000 of its customers to change their personal identification number (PIN) after the challenger bank incorrectly stored them in its own internal systems.

1 Aug

Retail revolution

Wish funding round sees ecommerce giant hit $11bn valuation

Mobile shopping giant Wish has announced that it is now valued at $11.2bn after a successful Series H funding round.

31 Jul

Brexit

UK VC deals set for record year, buoyed by fintech surge

UK venture capital (VC) deals are set for a record year in terms of total funding secured, according to research published today.

10 Jul

The Bank of Amazon: How big tech is disrupting banking

The announcement that Facebook was entering the world of cryptocurrency through the launch of Libra has certainly sent shockwaves through the tech sphere, with its future as the “global currency” hotly debated.

4 Jul

Future of open banking in jeopardy as banks fail to meet deadlines

Swedish open banking platform Tink has warned that many banks are not providing “the proper technology environment” for third parties to make the most of open banking regulations.

3 Jul

Multiply becomes first FCA-approved finance advice app

Multiply has become the first financial planning app to be approved by the Financial Conduct Authority (FCA).

27 Jun

25% of European banks could leave customers vulnerable to phishing

With 90% of consumers worrying about having their online financial accounts hacked, ensuring that online banking is protected from phishing attacks and other vulnerabilities is essential, especially as 76% of data breaches are financially motivated.

4 Jun

Why size matters when it comes to fingerprint biometric sensors

To make card payments more convenient and secure, issuers are looking to integrate biometric fingerprint technology into their cards.

3 Jun

Will biometrics drive up identity fraud? Half of British people think so

The use of biometrics as an alternative to traditional passwords is on the rise, with everything from facial and voice recognition to fingerprint authentication seeing climbing use across hardware, banking and beyond.

28 May

APP scam victims could now be refunded by their bank under new regulations

A new industry code, designed to repay those who have fallen victim to financial scams, comes into force today.

10 May

US tech giants

Uber insanity: The low Uber price can’t hide the “precarious” reality

Would you invest in a company that makes no money and has warned would-be investors that it may never do so?

15 Apr

Brexit

UK becomes top investment destination – despite Brexit

The UK is defying ongoing Brexit uncertainty by becoming the most popular destination for foreign investment in the world, according to a report published today by EY.

10 Apr

Cashless society in the UK: which cities are turning their back on cash?

As contactless card spending surged by nearly a third in 2018, and with over 20 million transactions taking place each day, new data released by Paymentsense reveals the UK cities leading the move towards a cashless society.

3 Apr

Apple Card will “make it harder for people to leave the Apple ecosystem”

At the end of last month Apple’s latest series of announcements were broadcast from the Steve Jobs Theatre in Culpertino.

2 Apr

Embracing open APIs in financial services to offer a better customer experience

The speed at which consumers have adopted mobile digital platforms is testimony to how highly they prize the convenience of mobile apps.

2 Apr

Breaking banks

Financial services apps in “vulnerability epidemic”: 97% have serious security issues

A research project into the security of financial services apps has identified serious issues with the majority of those tested, which could in many cases lead to the exposure of user data to hackers.

28 Mar

Klarna announces Open Banking Platform, making it easier to capitalise on PSD2

Financial services provider Klarna has announced its new Open Banking Platform, which will provide fintechs with easy access to thousands of banks across Europe.