A revamped Bank of England (BoE) payments system is expected to connect with FinTech firms using distributed ledger technology (DLT). According to Reuters, the new plans will see the payments system, that supports British banking and trading, boost its defenses against cyberattacks by 2020, as...
Brussels has rejected the U.K.’s proposals on how to govern London’s access to the European market after Brexit. According to the Financial Times, Brussels said that British Prime Minister Theresa May’s latest financial services plan would take away the EU’s “decision-making autonomy.” The rejection comes after...
A startup in the United Kingdom called Marshmallow has raised $1.2 million in seed funding as it tries to use digital technology to lower auto insurance costs for foreign-born drivers there. The new capital comes amid a wider push in Europe to bring more standardization...
SWIFT, as an organization, bills itself as a neutral player in the global economic system. That’s why the recent international flare-up over U.S. President Donald Trump’s decision to reimpose sanctions on Iran has hit the firm as a fairly direct challenge. President Trump reactivated the...
After raising $37 million in a funding round backed by investors such as Idinvest and Allianz, French lending platform Lendix is eyeing expansion in Europe. The backing will provide a boost to its growth plans in countries such as Germany, TechCrunch reported. “When you want...
In response to an increase of Chinese acquisitions of European rivals, the European Parliament’s international trade committee has approved a proposal calling for greater scrutiny of foreign investments. According to Reuters, the committee voted to extend the list of “critical sectors” that would prompt EU...
To make sure they can compete with the United States and China, France and Germany want an EU-wide initiative that will fund innovation and research in tech startup projects across the region. According to Reuters, Europe has lagged behind the United States in developing new...
Flywire, a provider of global payment and receivables solutions, has announced a major expansion of its U.K. and European operations and team. The company has moved to Folgate Street in London’s Spitalfields District, into a new office space that is quadruple the size of its...
While the European Banking Authority has created a “roadmap” on how to regulate emerging FinTech services, the body is not keen on creating a unified approach to cryptocurrency regulation — at least not yet, Reuters reported. As new European Union rules are making it easier...
