UK Fintech News Roundup: The Latest Stories 07/09
Every Wednesday we delve into the latest fintech updates from across the UK. This week, the world’s leading financial institutions have come together to address the current climate crisis, as Conor McGregor takes on a new role as fintech brand ambassador.
Focus on the environmental crisis at the financial summit
“Environmental, social and governance (ESG) in a volatile world” was a central theme at a gathering of the biggest financial services players this week in Edinburgh.
The summit then The World Bankit Bank of Englandministers and many worldwide large companies are addressing the climate crisis and other pressing global challenges. NatWest Group hosted the summit at the Gogarburn headquarters. Such of Sarah Breedenchief executive of the Bank of England, gave keynote speeches on topics such as “the nature of risk”.
Omar Shaikhmanaging director i Global Ethical Finance Initiative commented: “When we come together to share insights and commit to action, we can truly change the world. Alongside governments, private financial institutions must step up to help build a responsible, inclusive, sustainable and green future.”
“Major financial services firms will need to show real leadership if ethical finance is to trickle down to smaller companies, through the supply chain and into the wider economy. The challenge of climate change is daunting – but giving up is simply not an option. Banks and financial institutions have the key to building a more sustainable world.”
Fintech engineering center to open doors on the south coast
Provider of finance and liquidity management technology Hazel tree is opening a new fintech engineering center in Bournemouth on Tuesday 1 November.
The center will open as part of Hazeltree’s expansion plans following growing demand for its cloud-based solutions for private investment firms. The center creates space for up to 70 positions; some of these are currently recruiting fintechs from the local community.
Sol ZlotchenkoChief Technology Officer and Head of Private Markets at Hazeltree said: “We are thrilled to be setting up shop in the digital hotspot of Bournemouth. With its engineering power and depth of technology talent, we are confident the center will help take Hazeltree from strength to strength as we further enhance our best-of-breed finance and liquidity management FinTech capabilities at a time of increasing complexity in global markets.”
The University of Lincoln and Cushon launch a savings scheme
Pension and savings provider at the workplace Cushon has entered into cooperation with University of Lincoln to launch an alternative savings option for young people who are excluded from the pension scheme.
Student employees who work for the university are automatically registered in a savings bank, provided by Cushon. After the end of the first academic year in which this scheme ran, 1,012 students were automatically registered, with only eight percent opting out of the scheme.
Steve Watsondirector of policy and research at Cushon said: “We need to ensure that everyone in society is set up for a secure economic future. Working with [the] University of Lincoln, we have helped to achieve this by contractually enrolling working students into a workplace savings scheme with great success. Just like a pension, they have the choice to opt out, and if their circumstances change and they ever meet the pension auto-enrolment rules, they can easily switch to the pension scheme.”
Conor McGregor becomes the newest fintech brand ambassador
Former UFC featherweight and two-time lightweight champion Conor McGregor is now a brand ambassador for the retail ecosystem Tiger.Trade.
As fintech looks set to expand rapidly by appealing to both professionals in the field with significant experience and more casual retail customers, McGregor will help increase brand awareness.
“Conor McGregor is exactly the person we want in our corner as we strive to elevate our worldwide clients to new heights,” explained the founder of Tiger.Trade, Viktor Mangazeev: “Trading, especially in bear markets, as the global economy experiences shock waves and bouts of extreme volatility, requires dedication, passion and courage – all attributes of this international MMA icon.”
The Gen Z finance app enables Apple Pay for account holders
W1TTYthe smart financial app aimed at Gen Z and millennials, has officially launched on Apple Pay. The move enables W1TTY account holders and Apple users to make payments with their iPhones.
The founder and CEO of W1TTY, Ammar Kutaitexplained the company’s rationale for the step: “Our purpose with W1TTY is to demonstrate to young people how simple and straightforward digital banking can be.
“Apple Pay is a natural step towards this destination. Last year, more than two in five consumers had devices that supported the app, a number that is only going to grow.”
Hurricane Insurance Provider Joins Amazon’s Fintech Accelerator
Yokahuan insurtech that provides protection against hurricanes and tropical cyclones, has been accepted at Amazon Web Services (AWS) ‘Fintech Accelerator’.
The AWS Fintech Accelerator focuses on supporting the growth of high-potential fintech startups. Yokahu will participate in the first AWS accelerator program for the UK market, starting on Friday 9 September. The program is designed for early stage, pre-seed startups with at least one internal technology leader.
Tim McCoshCEO and founder of Yokahu, said: “We are really proud to be one of the 50 startups selected for the first UK fintech accelerator under the AWS programme. Yokahu participated in the EMEA-wide AWS Startup Loft- accelerator program earlier this year and it is very prestigious to be selected for the UK launch.”
