1.UK – FinTech
The pension, which is Plum’s first-ever, will be a subscription-free Self-Invested Personal Pension (SIPP) and is designed to get a new generation of savers engaged with their finances.
From today, Plum’s pension can be found alongside its other investment products in the app and takes just six steps to sign up to, giving customers visibility over their finances all in the one place.
The pension, while free from subscription fees, is subject to a 0.45 per cent annual fee from the provider, which is billed monthly and deducted from any investments made.
These fees also vary depending on what funds a customer picks, the range of portfolios on offer are managed by L&G and Vanguard.
2. UK – FinTech
“Theoretically, innovation in technology is great, however, if those the technology was designed for are not able to use it due to a lack of understanding, then it becomes redundant. 39% of B2B firms have said that a lack of understanding of the available technology is preventing them from investing more in AR automation and payments technology. It is becoming more and more important for businesses to educate their employees as failure to adopt new payment and Accounts Receivable (AR) technologies will hamper business growth on a massive scale, and these firms run the risk of being left behind in the movement towards automation.”
3. UK – FinTech
“Zumo has confirmed its key Signatory status of the Crypto Climate Accord (CCA), an international initiative that has been launched to harness the collective efforts of the crypto and blockchain sector to support the industry’s gradual transition to 100% renewable energy and achievement of net-zero emissions by 2040.
As one of the CCA Signatories, Zumo reports that it has agreed to work cooperatively with various other CCA Supporters on important initiatives that will aim to prioritize climate stewardship across the crypto space that seek to decarbonize the industry.
Zumo, which offers a crypto wallet and payments solution and is based in Edinburgh, Scotland, says it will offer its expertise to facilitate and accelerate the development of the operating standards, appropriate tools, and technology required to attain the goals and objectives of the Accord.
Through voluntary open-source working groups and while employing “big tent” approach, Zumo and other CCA Supporters will be able to identify important areas in which their experience and expertise can assist with driving action. They will also be engaging with relevant stakeholders, and will focus on offering ideas and targets that aim to contribute towards achieving the Accord’s vision of industry-wide decarbonization.”
4. US – FinTech
Banking app Dave is set to go public through a $4 billion merger with a blank-check firm sponsored by investment firm Victory Park Capital, according to Finextra.
“Launched in 2017 as a personal finance assistant, Dave is now a financial platform helping 10 million customers with banking, financial insights, overdraft protection, building credit and finding side gigs.
Late last year, the company launched Dave Banking, a spending account and debit card with no monthly fees, which has already accumulated more than 1.3 million members.
The Spac deal includes $210 million investment from Tiger Global Management, with participation from Wellington Management and Corbin Capital Partners.”
5. International – FinTech
“The Bank for International Settlements' Basel Committee is set to hold a public consultation on the treatment of banks' cryptoasset exposures.
The committee says that while banks' exposures to cryptoassets are currently limited, there is "heightened interest" among some players, and this could increase global financial stability concerns and risks to the banking system.
A consultation paper will be published this week as the committee seeks the views of external stakeholders "on the design of prudential treatment of banks' exposures to cryptoassets".