Starbucks offers an integrated wallet and payments within its app, and Lyft offers its drivers a debit card. But that doesn’t make them fintech companies.
Labour accuses Philip Hammond of breaking ministerial code
Former Tory chancellor reportedly wrote to Treasury to advocate for a bank he is a paid adviser forThe former chancellor Philip Hammond has been accused by Labour of breaking the ministerial code, after reportedly writing to the Treasury to advocate fo…
Banks failing to properly help victims of fraud, says Which?
Survey found customers who had been victims of scams often struggled to contact their bankThe UK’s biggest banks are failing to properly help fraud victims, leaving them “feeling abandoned at a time of crisis and exposed to future scams”, the consumer …
Element Ventures pulls in $130M to double-down on the FinTech enterprise trend
With the rise of Open Banking, Psd2 Regulation, InsurTech, and the whole, general Fintech boom, tech investors have realized that there is an increasing place for dedicated funds which double down on this ongoing movement. When you look at the rise of banking-as-a-service offerings, payments platforms, insurtech, asset management, and infrastructure providers, you realize that […]
HSBC boosts bonus pool by 50% as profits more than quadruple
Bank helped by economic recovery from Covid-19 crisis in big markets including the UKHSBC has increased its bankers’ bonus pool by 50% after profits grew by more than fourfold in the second quarter, thanks to an economic rebound in key markets, includi…
Starling Bank attracts switchers as Tesco plans to shut current accounts
App-based lender emerges as biggest winner in new figures, with Virgin Money also making sizeable gainsStarling Bank is proving to be one of the big winners in the battle for current account customers, it emerged this week.And the app-based bank could …
HSBC faces questions over disclosure of alleged money laundering to monitors
Bank was under supervision by US Department of Justice-appointed team because of previous violationsHSBC discovered a suspected money laundering network that received $4.2bn (£3bn) worth of payments, it has emerged, raising questions over whether it di…
Barclays shareholders to receive £800m as Covid payout curbs scrapped
Bank’s pre-tax profits rise to £2.6m in second quarter after lifting of most UK lockdown restrictionsCoronavirus – latest updatesSee all our coronavirus coverageBarclays shareholders are in line for a payout of more than £800m from dividends and share …