UK Fintech News Round Up: The Latest Stories 15/09



Every week, we check out the newest information from the UK fintech Scene. This week, Practically one-fifth of Brits have skilled credit score or debit card fraud and Greater than 4 out of 10 UK shoppers would use Open Banking to unlock quicker mortgage approvals and higher charges from their banks

Ziglu studies large enhance in folks shopping for altcoins

cryptocurrencyNew analysis from Ziglu reveals that just about seven out of ten (68%) UK adults with cryptocurrencies personal altcoins – cryptocurrencies that aren’t Bitcoin. The findings additionally reveal there’s a rising demand for altcoins with 63% of these with cryptocurrencies planning to purchase extra over the following 12 months, with 40% planning to purchase some that they don’t already maintain.

The findings additionally revealed that of these Brits with cryptocurrencies, 76% personal Bitcoin.

Greater than 4 out of 10 UK shoppers would use Open Banking to unlock quicker mortgage approvals and higher charges from their banks

Intellect Global Transaction Banking Announce It Will Use Cloud Technology as It Launches in the UAE

Analysis from digital financial institution Zopa finds that over 40% of UK shoppers would make use of Open Banking to use for credit score if it improved their possibilities of getting a suggestion, gave them entry to raised charges, or made the applying quicker and trouble free.

Regardless of that, 8 out of 10 shoppers have by no means knowingly used Open Banking. This disconnect reveals a powerful demand for the advantages that Open Banking can deliver prospects, regardless of a lack of understanding of its underlying proposition.

Tim Waterman, Chief Business Officer at Zopa, stated:We’re happy to be a part of a bunch of fintechs on the forefront of innovation, bringing the advantages of Open Banking to thousands and thousands of latest prospects. We already use Open Banking verification to ease utility journeys and to energy instruments like Borrowing Energy which assist our prospects enhance their monetary well being.”

70% of UK companies have been the sufferer of a profitable community safety assault within the final 12 months

Greater than two-thirds of UK companies have been the sufferer of a profitable community safety assault within the final 12 months, and 65 per cent have been the sufferer of no less than one ransomware assault within the final 12 months, in response to new analysis from Barracuda Networks.

These findings had been launched in a brand new report titled: “The state of community safety in 2021” that surveyed 100 UK IT decision-makers accountable for their organisation’s networking, public cloud, and safety to get their views on cloud adoption, working from house, safety issues, and quite a lot of points and challenges associated to cybersecurity dangers.

The info revealed {that a} important 80 per cent of respondents with company-issued units share their house web reference to different members of their family, posing a major safety danger. Moreover, one third (34 per cent) of UK corporations don’t difficulty firm units, and as a substitute operated a deliver your personal system (BYOD) coverage, and an extra 43 per cent of corporations do difficulty firm units, however nonetheless permit BYOD for some use circumstances reminiscent of e mail.

Practically one-fifth of Brits have skilled credit score or debit card fraud

Fraudulent exercise is happening all through the UK and the methods wherein Brits are being focused is consistently altering. Fraud dedicated utilizing a debit or bank card has impacted the most individuals, with almost one fifth (18%) of Brits having had an expertise with it finds Lowell.

Regardless of almost three-quarters of Brits (74%) believing that they might not give out any particulars to somebody claiming to be from their financial institution, almost one fifth (18%) of Brits have nonetheless skilled credit score or debit card fraud. The analysis additionally discovered that 15% of Brits could be prone to click on via a textual content hyperlink in the event that they had been contacted by somebody claiming to be their financial institution, and 15% of Brits claimed they might not do any checks to ensure a name from their financial institution was reputable.

John Pears, CEO of Lowell, says: “It’s regarding to see how many individuals have been affected by fraudulent exercise, and the number of totally different strategies that persons are being focused with. It actually goes to point out that the sophistication with which these cybercriminals function is growing on a regular basis – and all of us should be vigilant on the subject of defending ourselves and susceptible members of the family on-line.”

Money-less Britain Strikes In the direction of Card-less Britain in Submit-Pandemic Purchasing Revival

Samsung Electronics Co., Ltd has revealed the outcomes of a nationwide survey into the best way Brits are selecting to pay as they reacquaint themselves with the brand new ‘low contact’ world of retail.

While historically utilizing money or plastic playing cards for funds, the nation has embraced extra digital types of cost over the previous few years with nearly half (46%) of Brits saying they had been extra prepared to pay digitally on the peak of the lockdown in 2020. However as shops reopened in 2021 with extra stringent well being and security measures, we’re seeing a good higher shift in the direction of extra low contact, cell types of cost.

By giving folks the power to show their smartphone or smartwatch right into a digital pockets that homes prospects’ credit score, debit and loyalty playing cards to be used nearly in all places contactless is accepted, the analysis additionally discovered that remarkably, two-thirds of individuals (62%) would now favor to make use of their cost card via their cell pockets, which is double the variety of folks from final 12 months (31%).

Ex-Ripple and Visa executives unveil international retail micropayments community for Net 3.0

bankpingNpay, a worldwide micropayment community backed by blockchain expertise, has introduced that it’s going to make its community operational subsequent 12 months. The beginning-up plans to create a brand new class of excessive frequency, low worth funds (under $20 per transaction) aimed toward unlocking new digital retail providers which might be on the centre of the following improvement of the web, Net 3.0. pingNpay will initially launch within the UK, utilizing a digital coin backed by the pound.

SOFTSWISS wins Finest Buyer Service Firm of the 12 months at IGA

SOFTSWISS was awarded Finest Buyer Service Firm of the 12 months at probably the most necessary occasions within the playing and betting world, the Worldwide Gaming Awards (IGA), held in London final week.

Ivan Montik, founding father of SOFTSWISS, feedback: “We’re very proud and grateful to the IGA for the chance to name ourselves the corporate with the very best customer support. Behind every award like this are years of expertise and the efforts of a whole lot of people that guarantee the expansion and improvement of our giant crew day after day. Due to this, the variety of loyal shoppers glad with the service and interplay with our merchandise can also be rising. SOFTSWISS priorities have been and stay the revolutionary options we use and our distinctive experience in all issues iGaming. Our prospects and companions can at all times depend on SOFTSWISS’ skilled service, which is now recognised as the very best on the planet. We are going to proceed to develop and strengthen our standing as among the finest corporations within the playing and betting world.”

  • Polly Jean Harrison

    Polly is a journalist, content material creator and basic opinion holder from North Wales. She has written for plenty of publications, normally hovering across the matters of fintech, tech, life-style and physique positivity.

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