Zopa Bank & ClearScore-Led Campaign Pledge2025.org Surpasses 15 Million Actions Milestone in Bid to Build the Financial Resilience of UK Consumers Jaidev Janardana, CEO of Zopa Bank said: “We’re thrilled to see the 2025 Fintech Pledge continue to progress so rapidly. While our economy is stabilising and inflation has largely abated, there is no room for complacency. The fintech ecosystem can jump-start the UK economy, helping consumers bounce-back by embracing new behaviours that support their long term financial well-being.” https://lnkd.in/eR7Y2uEZ Wilfred Collins Lucas Germanos Clare Gambardella Peter Donlon Michael Woodburn Vicky Saliari Justin Basini Andy Sleigh Michael Woodburn #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews
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"Disruptive forces are required to drive change" - Nicola Willis MP. Nicola also says New Zealanders deserve the best banking technology, fair prices and a range of banking choices. Dosh New Zealand agrees. What are the options available have to achieve this? Extra capital for a stronger Kiwibank would undoubtably add more competitive pressure to the market. And privatising Kiwibank as one option to increase capital and enable growth. However, looking at overseas markets, the disruptive forces driving the best technology and better prices have not come from stronger traditional banks. They have come from Digital Banks. Monzo Bank in the UK, Up in Australia and Nubank in South America are just a few examples. The UK just approved a bank licence for Revolut. The naysayers will say these digital banks have not made significant inroads into their markets. But "good things take time" and the trend towards digital banks is clear. In addition to doing better with traditional banking, lets also build for the future. A digital bank future, built for the digital generation. Nicola Willis MP Andrew Bayly James McEniery #digitalbank #disruptiveforces #bankingcompetition
National Party conference opens with Nicola Willis nudging at Kiwibank sale
nzherald.co.nz
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Have you lost an account? Have you heard about the rise in unclaimed assets? With the rise of neobanks and the growing trend of individuals changing jobs every two years—sometimes internationally—tracking and managing wealth has become more challenging than ever. As a result, unclaimed assets in the UK alone reached a staggering £78 billion in 2023, up from £50 billion in 2022. Banks, building societies, wealth managers, and insurers often lose touch with customers who forget to update their addresses, resulting in a massive accumulation of lost funds. Experts warn this amount will only continue to rise.* With the Elisyan app, keeping track and monitoring wealth cross-border will only take a few minutes to setup, regardless of where or how it is invested, so that you don't forget about some accounts or pensions over time. Contact us to learn more about how we help businesses and their clients. Elisyan is invitation-only for individuals, but join our waitlist to soon become part of our exclusive community. Click the link in our bio to contact us. *Source: This Is Money . . . . #ElisyanWealth #ElisyanWealthVentures #ControlYourFinances #TrackYourWealth #FinancialFreedom #Investor #FinancialInvestor #FinancialApp #Finance #FinancialTips #FinancialPlanning #FinTech #FinancialAdvisor #PersonalFinance #FinancialAdvice
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Overstretched Britain: One in Four Have Fallen into Troubling Financial Behaviours Suzanne Homewood, Managing Director of Decisioning at Moneyhub comments: “A worrying number of people have fallen into concerning financial behaviours, and while we cannot change the macro-economic environment that’s prompting them, there are steps the financial services industry can do to better support customers. “Indeed, many of these behaviours, like relying on short-term credit for everyday spending, could be anticipated and mitigated against if service providers were able to understand their customer’s world better. “The ability to see this world through financial spending and behaviours, means that businesses can offer support and advice, before things spiral out of control, encouraging customers to make better financial decisions for themselves. Financial vulnerability can’t be easily eradicated, but it can be positively impacted by responsible actions like using data and technology that organisations like Moneyhub and the wider fintech community offer.” https://lnkd.in/eYkqz6Yb Kirsten Ward Eleanor Ross Carey Emily Mellon Ingrid Anusic Samantha Seaton Dan Scholey Hannah Swales Vaughan Jenkins Sam Munton #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews
Overstretched Britain: One in Four Have Fallen into Troubling Financial Behaviours
ffnews.com
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A significant milestone for the UK’s financial landscape! The UK government has successfully reduced its stake in NatWest to below 10%, signaling a strong commitment to full privatization by 2025. This move, down from 38% last year, highlights a strategic retreat from governmental influence in banking—a vital step for market-driven growth. As NatWest gears up for independent operations, investor confidence has soared, with share values climbing 89% over the past year. This transformation not only promises improved operational autonomy for the bank but may also spur innovation in fintech and expansion strategies. However, while optimism prevails, investors should remain cautious as NatWest navigates its new role in a competitive landscape. The exit of government oversight could unlock growth but also exposes the bank to market volatility. Exciting times ahead for NatWest and the UK banking sector!
UK Government Slashes NatWest Stake Below 10%, Paving the Way for Full Privatization by 2025
ctol.digital
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Oh Canada! 🇨🇦🍁 The birthplace of hockey (playoffs start tomorrow!) and... Our neighbors to the north and also could be a sleeping giant for continued financial services disruption and a "textbook case of an industry primed for disruption by fintechs," says McKinsey & Company. The trend seems to be picking up steam as fintech players like Brim Financial recently secured an $85 million Series C raise. #fintech #banking #payments #financialservices #ohcanada #canada
Fintech companies in Canada: Is the industry ready to boom? | Canada
mckinsey.com
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📈 iFast Corporation, a Singapore-listed bank and wealth management platform, has refuted claims made by a short-seller report about its ePension unit in Hong Kong and its UK digital bank. 💰 iFast has maintained that its ePension division's revenue will be sustained over a seven-year contract period, and that its UK digital bank is on track to break even in Q4 2024. 💪 Industry analysts have cast doubt on the short-seller's claims, noting that iFast has a strong track record and is well-positioned for growth.
IFast, analysts refute short-seller claims
techinasia.com
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Is buy now, pay later (BNPL) really good for consumers? Financial educator Lacey Filipich says the BNPL model was promoted as a better alternative to credit cards, because such platforms don't charge interest. But in the long run, BNPL has cost consumers because some users ended up overspending. Do you agree with Filipich that the BNPL model doesn't benefit consumers? How do you ensure fintech solutions drive financial inclusion? Share your thoughts in the comments below. 💡If you have an idea to spark conversation, include #IOTD to be considered for LinkedIn News Australia's Idea of the Day: https://lnkd.in/df7Sr3dX
Head of Financial Wellness @ Maslow | Financial Educator | LinkedIn Top Voice | Founder | Speaker | Chemical Engineer
Can fintech help us achieve financial inclusion and allow everyone to access financial services such as savings, credit, loans and insurance? Great question LinkedIn News Australia! I reckon it's a yes to the second part - they can allow everyone (for a given value of 'everyone'*) access, in the theoretical sense. Whether everyone can qualify for a loan, or needs a certain type of insurance, or has any spare cash to put into a savings account, is another matter. As for the first part - can #FinTech help us achieve financial inclusion - I reckon the answer is: rarely. Lots of them start out well. Take Buy Now Pay Later (BNPL) for example. It was touted as better than credit cards because they don't charge exorbitant interest, and only minimal fees. It was supposed to be like lay-by, but in reverse - get the thing now instead of waiting till you'd paid it off - but still, pay with your own cash. There was merit to the argument regarding lower limits too, which are usually a few hundred dollars for BNPL versus a credit card with thousands available. Plus you didn't need a credit check, so those who didn't qualify for credit cards could access it. ...then it turned out one in five BNPL users was going without essentials like food to meet their repayments, because BNPL users end up overspending. Don't believe me? Check the sales pages of the BNPL providers. They use increased spending as a hook to get merchants to sign up. It's a feature, not a bug. I screenshotted some of them for you in the image on this post. What was intended to be inclusive has caused measurable, widespread harm. It was so bad that BNPL's attempt to self-regulate via an industry code of conduct was deemed insufficient, and now they're getting regulated properly. (Hallelujah! Not a moment too soon, and hats off to the tireless campaigning of financial counselling, legal and consumer rights groups that led to that happening). The problem isn't the founders, the idea, or the fintech itself. It's the way we've implemented capitalism. We have these glorious ideas, but they end up tarnished and doing damage instead of the good intended because shareholder returns are prioritised above preventing harm and/or helping humanity. This is why I have never partnered with anyone via Money School before, or taken investment. It's impossible to guarantee someone won't end up using the brand to create the next Afterpay - a shareholder's delight, but a nightmare for one in five users. You have to circumvent capitalism to improve inclusion *without causing harm*, and that's what inclusion really means. Not net gain. It's hard to do in a fintech, a.k.a. a capital-hungry beast. It's why Maslow® becoming majority customer owned and with an elaborate constitution to prevent any chance of capitalism doing its thing is so important. * I am still at a loss to work out how we get all the world's unbanked to be served by fintechs, but I'm sure we'll get there eventually.
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The company’s name, “Zopa,” stands for “Zone of Possible Agreement,” a negotiation term reflecting its focus on creating mutually beneficial financial arrangements. Zopa began transitioning from a P2P lending platform to a digital bank in the late 2010s. This shift culminated in 2020 when Zopa secured its banking license. Zopa Bank is a world’s first peer-to-peer (P2P) lending platform, co-founded in 2004 by Giles Andrews, Richard Duvall, James Alexander, David Nicholson, and Tim Parlett. Over time, the company evolved into a full-fledged digital bank, providing savings accounts, loans, and credit cards. Jaidev Janardana Jaidev Janardana is the CEO of Zopa Bank. He joined Zopa in 2014 as Chief Operating Officer and became CEO in 2015. Under his leadership, Zopa secured a banking license, expanded its lending capabilities, and introduced a range of innovative financial products, including credit cards and savings accounts. Giles Andrews OBE Giles Andrews OBE, a business and experimental psychology graduate, was instrumental in guiding Zopa through its early challenges. After Richard Duvall’s passing, he took over as CEO in 2007 and later served as Chairman, helping establish Zopa Bank as a fintech pioneer. Richard Duvall Richard Duvall, Zopa’s first CEO, was a visionary entrepreneur who helped launch the world’s first peer-to-peer lending platform. His leadership laid the foundation for Zopa’s innovative approach to personal finance. James Alexander MBE James Alexander MBE contributed to Zopa’s customer-centric strategy, helping shape its user-friendly platform that simplified borrowing and lending for individuals. Dave Nicholson Dave Nicholson provided financial and operational expertise, ensuring Zopa’s early success and credibility in the financial services sector. Tim Parlett Tim Parlett played a key role in designing Zopa’s technological infrastructure, creating a reliable and scalable platform for peer-to-peer lending. #ZopaBank #JaidevJanardana #GilesAndrews #OBE #RIchardDuvall #JamesAlexander #MBE #DaveNichlson #TimParlett #EntrepreneursofLondon #EOL #Entrepreneurs
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Revolut finally gets their banking license! This is a huge moment for UK Fintech 🎉 Now, the top three "neo-banks" are all licensed banks with a massive stamp of credibility. 1. Monzo Bank - Over 9.3million users 2. Revolut - Over 9 million users 3. Starling Bank - Over 4 million users It's hard to believe, but I feel these numbers are going to double in the next 3 years. For context, Barclays has over 20 million customers in the UK. All of the above neo-banks are continuing to launch new products, Monzo have just announced their Personal Pensions (SIPP) product, and are all continuing to champion the customer! The 3 above have truly set the standard for Fintechs in the UK. A note that it still took a company the size of Revolut 3 years to get their banking license and even that is "restricted". It should show that getting regulated in the UK is no easy feat - It takes a lot of money, and a lot of expertise.
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Did you know that while most Americans prefer investing with their primary financial institution, a staggering 99.5% of them look elsewhere, largely due to the versatile and digital-first offerings by fintech rivals? In addition, nearly 90% of Millennials invest their money, with Gen Z positioned to surpass this, making the potential within our credit union communities vast and largely untapped. In an era where fintechs dominate, credit unions must adapt to digital platforms to attract investment-savvy generations like Millennials and Gen Z, who are leading the charge in personal investing. This guide by CU 2.0, The Wealth Services and Investment Management Guide 2.0, outlines how credit unions can pivot to meet the digital needs of their younger members. Credit unions have a unique opportunity to bridge this gap, enhancing member engagement by providing comprehensive, digital-first investment services. CU 2.0’s guide not only highlights the current state of investment services but also showcases how credit unions can pivot to cater to the evolving needs of their younger members. By embracing digital investments, credit unions can ensure their members' deposits stay within their ecosystem, maximizing both member satisfaction and the credit union's revenue streams. Let's engage, innovate, and transform the way we think about wealth services and investment management. Download and dive into this full guide for an in-depth look at how we can all evolve together by clicking the link below. The future is digital, and it's time for credit unions to shine! #InvestiFi #CreditUnions #InvestmentManagement #DigitalBanking #Fintech #WealthManagement #FinancialInclusion
Credit Union Wealth Services and Investment Management Guide - CU 2.0
https://cu-2.com
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