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UK FinTech News: 05 December 2022

Posted by Josh Poyser on 5 December 2022

A round-up of the latest UK headlines from FinTech Intel, featuring IoD, Wise, Tandem Bank, Quid Global, Boodil, The Bank of London and Freetrade 

The UK’s fintech sector is in a great place. This is according to Yvonne de Ville, head of the Institute of Directors’s (IoD) new finance and fintech group, who recently spoke with FinTech Intel. 

Yvonne de Ville also discussed IoD’s new group, being an activist for fintech and using her voice to support women in the sector.  

In greentech news, international money transfer firm Wise launched an eco debit card in the EU and UK.  

The card, which is white and features a small logo, uses less ink than previous iterations. New materials used in its manufacture contain 80% less PVC (polyvinyl chloride) than standard debit cards, according to Wise. 

UK-based Tandem Bank launched Tandem Marketplace, a hub that provides its customers with information and resources to make greener living choices, tackle climate change and save money on their energy bills. 

There have been a couple of partnerships to note. Payset, an online payments platform, is preparing to launch a new and improved service running on core banking technology from Thought Machine. 

And Quid Global has partnered with global payments platform Currencycloud to launch a wallet designed to support SMEs in their international development.  

In funding news, UK challenger bank Atom raised £30m in equity financing from BBVA, Toscafund and Infinity Investment Partners, to further its lending capabilities and future growth and development.   

And UK payments provider Boodil raised £525k in pre-seed funding to expand its open banking payments technology and launch its cardless method this year. 

There has been a couple of people moves, including at The Bank of London, a new clearing bank, that appointed Phil Knight as group chief technology officer and group chief information security officer. 

Elsewhere, investment app Freetrade appointed Shahid Naveed as its new chief technology officer. 

In other news, the UK Financial Conduct Authority told stock trading app operators to review design features, such as gamified elements, that risk prompting consumers to invest beyond their limit. 

Image: Canva

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