News

The FinTech sector has benefited from forced changes in behaviour during lockdown, as even traditional High Street customers have been pushed towards mobile and online banking, and other services such as money management.

The US has consolidated its leadership in FinTech despite a challenging year, to stand head and shoulders above the UK and other big players, such as India and China.

There are 488 ‘unicorns’ worldwide – startups valued at more than $1 billion apiece. As of August 2020, those companies are worth a combined total of $1.5 trillion.

Virtual offices are among the many types of company being used to launder cash, says Chris Middleton.

NEWSBYTE HM Revenue & Customs has fined online estate agent Purplebricks more than £260,000 for violating anti-money-laundering (AML) rules.

Digital upstarts are winning banking customers’ hearts, says Chris Middleton, but that does not guarantee viable businesses.