News

Estonian FinTech and payment services provider LHV Group has announced that it will seek a banking licence in the UK, in order to separate its UK activities from those of AS LHV Pank [sic] in Estonia.

Financial technology (FinTech) is one of the key areas for artificial intelligence investment growth, with nearly $475 million in venture capital funding.

Users of Open Banking-enabled products in the UK now exceed two million, up from one million in 2019, according to an announcement from the Open Banking Implementation Entity (OBIE).

A UK FinTech has secured a deal with a major US acquiring bank to implement and safely test payment methods, according to an announcement from the government.

Tech Nation, the network for UK technology entrepreneurs, has announced the launch of a new initiative for the financial services sector, the FinTech Pledge, with support from the government.

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.