fintech

Strong fintech security posture at risk via third-party weak links

3 minutes of reading / compliance, fintech, risk management, Tech / By

Financial technology (fintech) companies have a strong security posture but are at risk from third-party weaknesses, according to analysis. In its latest report, SecurityScorecard stated that the fintech sector ranked highest of all sectors studied when it came to security posture, but it found potential third-party weak links could open the door to security breaches.…

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Lloyds and Nationwide to use UK finance sector LLM

3 minutes of reading / AI, Cloud, compliance, data privacy, fintech, Google, Google Cloud, machine learning, natural language processing, Tech / By

Lloyds Banking Group and Nationwide Building Society are set to roll out a generative AI (GenAI) tool that has been specifically designed for the UK finance sector. The tool, known as FinLLM, was developed in the UK by Aveni alongside the two financial services companies, with both also investing money in the firm. The large language…

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Security and verification concerns dog debate over Data (Use & Access) Bill

6 minutes of reading / Computer, fintech, Tech / By

There is much to be welcomed in the UK’s latest revision to data legislation, which has had a multi-year marathon from inception as the Data Protection & Digital Information Bill and other iterations to its new form as the Data (Use & Access) Bill. Perhaps foremost in the benefits within the bill is the explicit…

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Fintech summit reveals what’s next for sector

4 minutes of reading / e-commerce, fintech, Square, Tech / By

This year’s Innovate Finance Global Summit (IFGS) event comes with the backdrop of turmoil caused by Donald Trump’s return as US president, with uncertainty for fintech and other businesses with close ties to the US. Fintech is valued as an important sector in the UK today, something emphasised by chancellor of the exchequer Rachel Reeves,…

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The tech investment gap: bridging the divide for underrepresented entrepreneurs

5 minutes of reading / AI, automation, fintech, machine learning, Tech, Technology / By

Despite the UK’s position as one of the world’s most dynamic technology hubs, the industry still faces a persistent and well-documented challenge – equitable access to investment. Underrepresented entrepreneurs – particularly women, ethnic minorities, LGBTQ+ founders, and individuals from non-traditional backgrounds – remain significantly disadvantaged when it comes to securing the capital needed to start…

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UK challenger bank targets US’s mid-tier banking sector with tech platform

3 minutes of reading / fintech, Tech / By

Starling Bank has created a US subsidiary where it will target mid-sized banks with its banking software as a service (BaaS) offering. The tech operation of Starling Bank has already won customers in Europe and Australia for its platform, which was originally launched in the UK in 2018 and rebadged as Engine in 2022. Its…

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Bridging Borders: The rise of Ukrainian-British tech collaboration

6 minutes of reading / AI, cybersecurity, digital transformation, fintech, Meta, robotics, Tech / By

The past year has been crucial for Ukrainian-British tech cooperation. As one of the leading IT service exporters, Ukraine’s presence in the UK has never been stronger, with business ties growing deeper. Recently, the IT Ukraine Аssociation (ITU) published a comprehensive report on the state of the Ukrainian tech ecosystem. According to the report, Digital…

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Fintech body calls on government for national anti-fraud centre

3 minutes of reading / Amazon, fintech, Google, Meta, social media, Tech / By

Fintech trade body calls on the government to establish a national centre to help businesses across different sectors fight fraud through data sharing. Innovate Finance said that current data sharing initiatives designed to fight fraud operate in silos, which means the country lacks the “critical mass” or “scale” needed to stop fraudsters. The call for…

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Can regulatory oversight alone unlock cloud competition?

6 minutes of reading / AI, Amazon, API, AWS, Azure, Broadcom, Cloud, cloud computing, compliance, digital transformation, fintech, Google, Google Cloud, hybrid cloud, Microsoft, Tech / By

Cloud computing’s rise is a success story under scrutiny. It has been nothing short of transformative, enabling businesses to scale operations, innovate rapidly, and optimise costs. It has become an essential pillar of modern enterprise IT, supporting mission-critical workloads across industries. From finance and healthcare to artificial intelligence (AI) and retail, the cloud is now…

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Government announces inevitable end to Payments Services Regulator

3 minutes of reading / fintech, Tech / By

The government has canned the Payments Services Regulator (PSR) to reduce red tape as part of its Plan for Change. PSR activities will be transitioned to the Financial Conduct Authority (FCA), which will provide “one port of call” to payments system providers rather having to deal with multiple regulators. In November 2024, a speech given…

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