BBVA cancelled their planned takeover of Atom Bank due to concerns related to Brexit’s impact on the UK economy; Atom...
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Europe awoke this morning to find that the second largest economy in Europe no longer wants to be part of...
The British High Court ruled on Thursday that Parliament must give its approval for Brexit, creating uncertainty on whether or not the UK will leave the European Union; plans for exiting the EU were to begin in March; the government now has appealed the High Court's decision to the Supreme Court which will consider the appeal in December; if the ruling is upheld speculators believe Parliament would continue with the same sentiment that its voters reported in June. Source
Speaking at an event in London, British MP Lee Rowley has said that the fintech industry, rather than Brexit, will...
Private credit fund managers are already starting to see an increase in deal flow as traditional lenders shrink their loan...
Bondora has reported that it will not be opening an office in London due to post-Brexit effects; instead it will open a new office in Germany; Bondora CEO, Partel Tomberg, says he is uncertain about European market access in London; Bondora CFO says German regulators including Bafin are increasingly opening up to supporting innovation in the financial sector. Source
Some UK fintech firms are beginning to look at opening offices in other locations across Europe to appeal to young software engineers; Brexit has hurt the market for software engineers in the UK; while the initial evidence is anecdotal UK fintech companies like Curerencycloud are beginning to feel the pressure; Mike Laven, chief executive of Currencycloud, tells the FT, “We understand passporting, regulation and compliance and it will cost us money, but we will sort that out. To me, the London fintech issue is more around having the right people and having very easy access to that.” Source.
The latest withdrawal agreement from Theresa May was soundly rejected by Parliament and now uncertainty takes center stage as a...
A new report by ratings agency Fitch says digital banks could be more vulnerable than traditional banks in the event...
Shocking news from across the pond today. Citing continued frustration over the uncertainty surrounding Brexit the entire UK fintech community...