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EU Laws Shape UK’s FinTech, Brexit May Set It Back, Says Digital Bank CEO

Fintech Brexit

The founder and CEO of Starling, a digital bank, has expressed her views stating that EU laws have helped to shape the U.K.’s FinTech sector, but she fears that the result of Brexit could see the sector stalling. Anne Boden, who set up Starling in 2014, praised the EU by saying that it had come up with ‘very good payment and banking legislation,' according to a report to the Financial Times. She...

Belgium and London to Work on FinTech

After the U.K.’s Brexit result, European countries have been attempting to overthrow the U.K. from the top position as a FinTech hub location. One European country that isn’t, however, is Belgium. Instead, Belgium wants to create a bridge that supports FinTech startups between the two countries. According to Finextra, Johan van Overtveldt, Belgium’s finance minister, has begun talks with U.K...

International Banks are Threatening Britain to Slow Down Brexit

Big banks are threatening to ship British jobs overseas and cripple the economy if the nation’s Treasury fails to slow the nation’s exit from the European Union. This would leave Britain under the thumb of Brussels for longer than the nation’s voters have demanded. The outrage has already begun. Two camps arose after the election. One for a quiet exit, and one for a longer term exit. Markets...

Brexit Fears Sees London Banks in ‘Advanced Stages’ to Move to France

France’s market regulator has said that leading banks in London are in the advanced states of moving their operations to Paris, amid Brexit fears, reports the BBC. Benoit de Juvigny, secretary general of Autorite des Marches Financiers (AMF), said to the BBC, that ‘large international banks’ in London have taken steps to move procedures to the French capital. In the event of a ‘hard Brexit’...

London’s Fintech Further Expands Global Reach with Hong Kong Tie-Up

UK’s Financial Conduct Authority (FCA) has signed today an agreement with the Hong Kong Monetary Authority (HKMA) for reciprocal co-operation between the two markets, especially as it pertains to Fintech companies and financial innovation. Christopher Woolard, Executive Director of Strategy and Competition at the FCA, said: “Alongside promoting innovation in UK businesses, we also want to see the...

Report: London is Still the Global Hub for FinTech; Singapore and New York Follow

A new report has found that London is still leading the way as the global hub for the FinTech sector, which saw 2015 investments in the industry amounting to $19 billion. The report from Deloitte and All Street Research [PDF] looked at 21 of the major FinTech hubs around the world. After working through quantitative research and interviews with local FinTech subject matter experts, the research...

A UK Law Firm is Offering Free Legal Advice to FinTech Startups

U.K. law firm, Addleshaw Goddard, has announced that it will be offering free mentoring and legal advice to FinTech startups through a new scheme worth up to £500,000, according to Legal Week. Over the next 12 months, companies selected for the AG Elevate scheme, which will be launched next week, will have the chance to attend the law firm’s training and network events. As FinTech continues to...

Race to Attract Fintech Talent Accelerates with Worldwide Regulatory Revamp

Fintech

The halls of bureaucracy are finally on the move as technological advancements promise a “big bang” transformation of finance and other areas. The British regulators, undoubtedly running while others seem to have just began walking, announced a raft of new measures to shake up banking based on recommendations by the Competition and Markets Authority. The most relevant for Fintech is an emphasis...

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