Airdrie Savings Bank (ASB), the only remaining independent savings bank in the UK, is closing down for good.
FairFX, a London-based multicurrency payments service, has acquired Q Money and its e-money licence.
London-based Persia International Bank, a joint venture of two Iranian financial services groups, Bank Mellat and Bank Tejarat, is undergoing a tech revamp.
The Competition and Markets Authority (CMA) in the UK has accepted undertakings from the Bacs payment scheme that commit it to delivering the improvements required by the CMA retail banking market investigation within a year.
With last year’s Brexit decision casting uncertainty on UK-based e-money passporting, the Emerging Payments Association (EPA) has released a new report recommending the best options for UK-licensed fintech and financial services companies in danger of losing their European Union passporting rights following the UK’s exit from the EU.
According to the UK Cards Association, a trade body for the country’s card payments industry, a quarter of all card transactions are now made via contactless in the UK. 325 million purchases, altogether worth £2.9 billion, were made using contactless debit and credit cards in November 2016.
Target Group, a UK-based business process outsourcing (BPO) and software vendor, has purchased the operating business of Commercial First, a provider of commercial and residential mortgage servicing, due diligence and property valuations. Commercial First, also based in the UK, provides clients with services in the real estate lending market ranging from loan administration through to […]
With so many new entrants trying to muscle into the UK banking sector, Banking Technology has put together a comprehensive list of the known challengers to date and the technology they are using. We’ll be revisiting and updating this list on a regular basis. If you have any additions to the list, please get in […]
The bustling UK challenger bank scene has grown by another addition, ClearBank. It is a brainchild of Nick Ogden, founder and former CEO of WorldPay.
Mobile-only challenger bank Monzo has revealed some witty conversations between its banking customer support team and customers. In an amusing blog post, the bank says its customer support team of around 17 people manage hundreds of queries on a daily basis in as “close to real-time as possible”. Some of these conversations struck a chord […]