UKRSS

FairFX gains e-money licence with takeover of digital banking service for SMEs, Q Money

Tony Quirke, founder of Q Money and new CFO of FairFX

FairFX, a London-based multicurrency payments service, has acquired Q Money and its e-money licence.

Misys out, Temenos in, at Persia International Bank

Persia International Bank in major tech overhaul

London-based Persia International Bank, a joint venture of two Iranian financial services groups, Bank Mellat and Bank Tejarat, is undergoing a tech revamp.

Airdrie Savings Bank goes out of business

Airdrie Savings Bank is no more

Airdrie Savings Bank (ASB), the only remaining independent savings bank in the UK, is closing down for good.

CMA comments on current account switching plans & VocaLink’s takeover by Mastercard

UK flag

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.

Trade group report offers post-Brexit licensing guidance for fintechs

It'll be hard

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.

One in four UK card payments now contactless

Go contactless

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.

UK BPO and fintech provider Target Group buys Commercial First

Target Group

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 […]

UK challenger banks: who’s who (and what’s their tech)

UK challenger banks: who is who

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 […]

New name in the UK challenger bank space – ClearBank

UK flag

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.

Can you marry an app Monzo?

Mondo is gearing up for beta testing

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 […]

@banking
techno