It recently emerged that online lender Prosper made a $28,500 collateral-free loan to Syed Rizwan Farook in mid-November, just a few weeks before he and his wife massacred guests at an office holiday party in San Bernardino, with Federal Officials…
Three Things We Learnt From FinTech Connect Live
After a packed and exciting two days of conferences, workshops and great conversations with others in the FinTech sphere, we thought we’d reflect on key insights about the sector that we’ll take away from Wembley. Banks are not braced for…
Regulators Focus Their Efforts On RegTech: FCA Call for Input
In a call for input, the FCA has just affirmed that innovative technology has a key role to play in enabling financial services to meet regulatory requirements and invited businesses to have their say in how it should “refine and…
FinTech Connect Live: Three Things That Make London the Place to Be
Dubbing it “the heart of fintech”, FinTech Connect Live is concentrating over 2,000 attendees and 100 sponsors in London for a two day exhibition next week. They have chosen their location well: taking over 68% of European Fintech investment in…
Barclays Hit by £72 Million Fine For Slack Checks on Rich Clients
Barclays was dealt the largest disgorgement penalty ever imposed by the FCA, after a damning report found that it was lax in checking rich politically exposed clients, who were part of an “elephant” £1.9 billion “deal of the century”, because…
Why are fintech companies unable to get bank accounts in the U.K.?
Underlying many financial technology companies’ capabilities are access to basic clearing accounts. If you want to lend money, you need to have somewhere to store it. If you want to process payments, you need to have a bank account through…
Fincen: Sanity Required Over Wholesale Termination of MSB Accounts
Fincen yesterday issued a statement regarding the extent to which banks should terminate the accounts of MSB’s. The statement declared: MSBs play an important role in a transparent financial system, particularly because they often provide financial services to people less…
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