Karen Mills is a Senior Fellow at the Harvard Business School focused on SME finance, entrepreneurship and competitiveness; she previously served as the Administrator of the US Small Business Administration; in her post on AltFi she discusses why London will remain a global leader in financial innovation despite uncertainty with Brexit. Source
Some UK fintech firms are beginning to look at opening offices in other locations across Europe to appeal to young software engineers; Brexit has hurt the market for software engineers in the UK; while the initial evidence is anecdotal UK fintech companies like Curerencycloud are beginning to feel the pressure; Mike Laven, chief executive of Currencycloud, tells the FT, “We understand passporting, regulation and compliance and it will cost us money, but we will sort that out. To me, the London fintech issue is more around having the right people and having very easy access to that.” Source.
In an effort to ensure it can keep operating after Brexit, British money transfer company TransferWise will open a new...
Fintech firms are extending credit to UK manufacturers so they can stockpile raw materials in case a no-deal Brexit actually...
The CEO of Revolut, Nikolay Storonsky, has called on the UK government to create specialized visas for technology professionals as the...
The UK fintech sector has shaken off the worries of Brexit to take in the second highest amount of capital from VC’s in 2017; they have overtaken China and only trail the US in terms of VC funding; according to data from Innovate Finance UK fintech investment was up 153 percent in 2017 from the year earlier; 24 per cent went into challenger banks, 21 percent into money transfer and foreign exchange, 17 percent into alternative lending and financing and 11 percent into personal finance/wealth management; VC investment globally reached $14.4bn across 1,824 deals, representing an 18 per cent decrease from 2016. Source.
OakNorth, a successful new challenger bank in the UK, is calling on the UK Treasury to use Brexit as an...
The latest withdrawal agreement from Theresa May was soundly rejected by Parliament and now uncertainty takes center stage as a...
European fintech firms of all stripes are preparing for the worst case scenario when it comes to Brexit; “Unfortunately no one...
UK based Funding Circle is expected to report sales are up 48 percent and losses widened 38 percent in the...