{"id":23795,"date":"2021-06-02T07:35:00","date_gmt":"2021-06-02T07:35:00","guid":{"rendered":"https:\/\/codeandpepper.com\/?p=23795"},"modified":"2021-06-07T07:38:11","modified_gmt":"2021-06-07T07:38:11","slug":"fintech-wire-31-new-uk-bank-joins-the-game","status":"publish","type":"post","link":"https:\/\/codeandpepper.com\/fintech-wire-31-new-uk-bank-joins-the-game\/","title":{"rendered":"FinTech Wire #31: New UK Bank Joins the Game"},"content":{"rendered":"\n

UK FinTechs are represented strong in this issue of FinTech Wire. Both startups and mature enterprises can surprise. Read more to see how a new bank can dedicate itself to one goal – providing accessible housing to the Brits!<\/p>\n\n\n\n\n\n\n\n

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Weekly FinTech news digest: 26 May\u20142 June 2021<\/h2>\n\n\n\n

Open banking innovations in Wealthify<\/h1>\n
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Gather funds, improve, repeat, succeed<\/h2>\n <\/div>\n <\/div>\n
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Wealthify<\/b> <\/a>is an online investment service which lets you build personal investment plans and then manages them for you. Now, the platform is going to become much smarter, thanks to implementing an open banking solution by <\/span>Tink<\/span><\/a>, a Swedish API provider. Thanks to this partnership<\/span>, investors can consent to connect to their bank account in the Wealthify app or web page and complete their payment in a few steps. Of course, such an upgrade wouldn\u2019t be possible without some hard cash. Tink\u2019s \u20ac85 million investment round at the end of 2020 laid the foundations for the firm’s rapid development.<\/span><\/p>\n

But what\u2019s in it for the customers? <\/span>Rafa Plantier<\/span><\/a>, UK and Ireland country manager at Tink, explains: \u201cThis is a significant partnership for Tink in the UK. Payment initiation services, as part of the wider Open Banking movement, gives businesses the ability to create low-cost, uninterrupted transaction journeys that can lead to better conversion rates.\u201d<\/span><\/p>\n

Read more about <\/b>open banking<\/b><\/a><\/p>\n <\/div>\n \n \n<\/svg>\n<\/article>\n\n\n\n

Paysend are now fundraising to support their global expansion<\/h1>\n
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Globalisation of payment services for even more customer satisfaction<\/h2>\n <\/div>\n <\/div>\n
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Paysend <\/span><\/a>is the next-generation payment platform enabling customers and businesses all around the world to pay, hold and send money online anywhere, anyhow and in any currency. Now, they <\/span>have announced a $125m Series B funding round, which will help contribute to funding their global expansion plans. Led by One Peak, the funding round had additional input from Infravia Growth Capital, Hermes GPE Innovation Fund and existing Silicon Valley-based investor Plug and Play. \u201cThere remain significant barriers to entry for consumers and SMEs to pay and send money globally; our platform aims to democratise the service by providing a one-stop-shop to pay and send money to families, suppliers, employees and partners in any currency anywhere in the world at a significantly reduced cost,\u201d <\/span>Ronald Millar<\/span><\/a>, the CEO and co-founder of Paysend, says.<\/span><\/p>\n

Read more about <\/b>API development<\/b><\/a><\/p>\n <\/div>\n \n \n<\/svg>\n<\/article>\n\n\n\n

Scottish Financial Enterprise launches a five-year strategy for the financial services sector<\/h1>\n
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Long-term strategy to boost FinTechs in Scotland<\/h2>\n <\/div>\n <\/div>\n
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We often talk about Scotland\u2019s FinTech sector in Code & Pepper, so it\u2019s not a surprise that we always mention it in FinTech Wire whenever something important happens there. Now, <\/span>Scottish Financial Enterprise<\/span><\/a> (SFE) launched its five-year strategy for the financial services sector, establishing a range of proposals to drive collaboration across the industry and with both the Scottish and UK Governments.\u00a0 As the official website of the organisation says, the new programme is going to affect the lives of all consumers of financial services long-term. There are four main goals to achieve: <\/span><\/p>\n

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