UK Fintech News Roundup: The Latest Stories 11/10
Every Wednesday we delve into the latest fintech updates from across the UK. This week brings updates from Bluechain, Channel, FinTech Wales, Yoti and the University of Surrey.
University of Surrey opens fintech centre
The University of Surrey has launched its new Center for Sustainable and Explainable Fintech (SAEF).
The center will focus on how progress in fintech provides greater access to finance locally and globally – from the processing of global payments to the role of central banks and cryptocurrencies.
Professor Bonnie BuchananDirector of SAEF at the University of Surrey, said: “While cashless payments and NFTs have slowly become the norm, the world of fintech has largely been the domain of those in financial markets and technologists. At SAEF, we believe that fintech knowledge is a issues of justice – it can help the UK tackle global challenges such as wealth inequality, biodiversity, trust in institutions and regulation.”
FinTech Wales wins award
Photo by: Richard Williams
Not-for-profit membership organization FinTech Wales has been rewarded for its success in helping fintech startups launch, having received ‘Best Accelerator/Incubator’ at FinTech Awards Wales.
The award is given in recognition of an accelerator or incubator that has succeeded in helping fintech startups to launch. The award also looks at how they have developed technology that has a real impact, as well as fostering ecosystem support that can drive innovation across Wales.
CEO of FinTech Wales, Sarah Williams-Gardenersaid: “We are delighted to have been honored by the FinTech Wales Awards this year. Having launched the foundry just over 12 months ago as a non-equity accelerator program designed by founders for founders, we are proud to be judged by the results ours.”
The payment provider Bluechain builds on success
Payment provider Blue chain has officially launched in the UK with its first customer supplier of building materials, Aggregate industries.
The startup’s goal is to enable Aggregate Industries to digitize the invoicing, collection and reconciliation process with its SME customers. The expansion comes to the UK after a successful launch in Australia in 2020.
Stephen BedggoodVice President of Product at Bluechain commented: “Bluechain’s launch in Australia has been very successful, with a significant number of small businesses and enterprises making or receiving payments through our platform. The UK expansion is testament to the global success and impact we has had to date that empowers businesses and customers in their payments journeys and I am excited to see this replicated in the UK market.”
Yoti offers security checks for gambling operators
Financial KYC Provider Institute of Trust has entered into a partnership with a digital identity company Yoti to enable gambling operators to easily complete reasonableness, security and identity checks.
Consumers will be able to link a new or previous Yoti verification to one BetBudget personal financial profile. Customers registering on other participating gambling sites can be achieved with as little as one click after completing the process once.
Robin Tombs, CEO of Yoti said: “We are pleased to partner with the Department of Trust (DoTrust) and combine our solutions to introduce a new standard of compliance and identity verification for the gambling sector. DoTrust shares our philosophy of providing individuals with a safer way to share personal information; one that protects their privacy and personal data, while ensuring companies have the details they need to comply.”
British asset manager launches fintech loan fund
UK-based asset manager Channel Capital Advisors LLP (Channel) has launched its new ‘Fintech Lending Strategy’. Fintech platforms for digital lending that require capital to finance loans to SMEs will use the fund.
Over the past 15 years, Channel has deployed over $20 billion in credit facilities, including loans, working capital facilities and securities.
Paul Wilson, Channel’s Chief Investment Officer, said: “The investment in our Fintech Lending Fund is a significant step forward for Channel – it will see us work closely with other digital platforms to facilitate lending to SMEs that is faster, easier and non-dilutive. their business. Indeed, the deployment of dedicated funds such as this is critical to supporting and stimulating the ongoing growth of the global SME sector.”
