1.UK – FinTech
“A month after announcing the acquisition of Seccl, a technology provider for financial advisers and the wealth management industry, the FCA gave Octopus the greenlight to complete the takeover today.
The £10m deal will see Seccl become part of the Octopus Group’s “off-the-shelf” wealthtech offering, where wealth managers can quickly update their existing tech.
Seccl’s custody service, for example, is available via an API and charges just 0.1% of assets on the platform, with no set-up costs.”
2. UK – FinTech
“PEER-TO-PEER platforms including Lendable, Lending Works and Assetz Capital have been recognised amongst the UK’s fastest growing tech companies.
The annual Tech Track 100 league table, compiled by research firm Fast Track and featured in The Sunday Times, ranks the 100 fastest growing private tech companies in the country by sales over the previous three years.
Digital banking service provider Revolut came in first place, with a 507.56 per cent increase in its annual sales over three years.
Lendable placed sixth on the list with the report highlighting its 242.98 per cent annual sales rise over three years. Revenues at the company hit £19.4m last year.”
3. UK – FinTech
“Digital bank Starling has named two new fintech startups who will list their services on its Marketplace this month.
Unlike many previous Marketplace announcements, Starling’s latest are both firmly focused on the bank’s 65,000 business account holders.
Digital Risks is an insurance provider for small and medium-sized digital businesses, including cover for specific threats like commercial legal protection, cyber security, management liability, employers liability, public liability and professional indemnity.
While CyberSmart is a platform for SMEs to identify digital weaknesses and achieve their Cyber Essentials Certification, the government-backed accreditation for companies looking to protect against cyber threats.”
4. US – FinTech
“The US Securities and Exchange Commission (SEC) Chair Jay Clayton has told a reporter atCNBC that manipulation in crypto markets remains a concern and that there is “still work to be done” before the Commission can approve Bitcoin exchange-traded fund (ETFs).
Clayton told Bob Pisani that exchanges have come closer to satisfying the SEC on the matter of market manipulation and safe custody of “crypto assets,” but said that remaining questions are “not trivial”.