The Financial Conduct Authority has removed the regulatory cap on contactless payments, allowing banks and payment providers to set their own transaction limits from March 2026.
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By Priya Sharma
UK fintech giant Revolut has filed applications with the OCC and FDIC for a US national bank charter, committing $500 million to the American market as it targets 100 million customers globally.
By Marcus Webb
The UK financial services industry created over 28,000 AI-specialist positions in the past 12 months, making it the fastest-growing segment of City hiring. Demand for machine learning engineers, AI ethics officers, and prompt engineers is outstripping supply.
By Priya Sharma
Monzo, Revolut, and Starling are all developing AI-powered financial advice tools, aiming to democratise wealth management for millions of everyday customers.
By Oliver Trent
Monzo has engaged Morgan Stanley for a potential London IPO valued between £6–7 billion, which would mark the most significant fintech listing on the London Stock Exchange in years.
Credit building apps including Loqbox, Bits and Creditspring have reported record user growth in the UK, driven by under-30s seeking to establish credit histories without taking on traditional debt.
The FCA has issued 19 enforcement notices to principal firms in the fintech sector for inadequate oversight of their appointed representatives, as tighter rules introduced in 2024 begin to bite.
Pay by Bank usage has more than doubled in the past year, with over 40 major UK retailers now offering the Open Banking payment method at online and in-store checkouts.
Digital wallet transactions have overtaken physical card payments in UK retail for the first time, with Apple Pay, Google Pay, and retailer-branded wallets now accounting for 52% of in-store contactless spend.
By Sophie Chen
After two years of corrections, UK fintech valuations are showing signs of stabilisation as public market comparables and private funding rounds converge around more sustainable multiples.