Breaking News
Deutsche Bank: Brexit Risk to up to 4,000 UK Jobs
With Deutsche Bank contemplating moving 4,000 jobs from London to Europe after Brexit, we are seeing the mass exodus of the financial sector from Britain, which we predicted after the EU referendum, last year.
Now Article 50 has been triggered, the UK’s exit from the EU has begun and so too has the mass exodus of FinTech’s from the UK due to uncertainty aroundnegations on EU pass-porting rights. In the scenario where a deal can’t be struck with the EU, many FinTechs regulated by the Financial Conduct Authority in the UK are likely to move to countries such as Luxemburg, Ireland and Malta, and indeed France, which will make it easy for FinTechs to apply for PI and e-money licenses. 2017, therefore, will be the year that marks the beginning of the FinTech exodus from the UK.
We as a company made an early decision last year to begin the process of relocating headquarters to Luxembourg in order to comply with EU regulations. This will cost us an additional £1m per year before the UK formally leaves the EU in having to maintain dual regulatory licences, setting up and running the Luxembourg office and recruiting staff. But this is now a necessary cost.”
Simon Black, CEO of PPRO Group
- Why So Many Fintech AI Projects Are Failing (And How to Fix Them) Read more
- Mastercard, NCR Atleos, and ITCard to Enhance Contactless Experiences at ATMs Read more
- Paytently and Mastercard Partner to Launch Next- Generation Open Banking Payment Solution Read more
- Botim Expands UAE-Ethiopia Financial Corridor With Commercial Bank of Ethiopia Partnership Read more
- Onafriq and Visa Partner to Launch Visa Pay, Unlocking Interoperability Between Card and Mobile Money in the DRC Read more
Mastercard, NCR Atleos, and ITCard to Enhance Contactless Experiences at ATMs
Mastercard with NCR Atleos and ITCARD are enabling cash to be securely withdrawn at contactless ATMs
Paytently and Mastercard Partner to Launch Next- Generation Open Banking Payment Solution
Paytently has launched Paytently Open Banking powered by Mastercard Open Finance streamlining payments end-to-end
Botim Expands UAE-Ethiopia Financial Corridor With Commercial Bank of Ethiopia Partnership
botim announced a partnership with the Commercial Bank of Ethiopia to deliver secure, convenient remittance solutions for Ethiopians in the UAE
Onafriq and Visa Partner to Launch Visa Pay, Unlocking Interoperability Between Card and Mobile Money in the DRC
Onafriq has partnered with Visa to launch Visa Pay to expand digital financial access across the DRC
Jet2 Selects APEXX Global as Payment Orchestration Partner
Jet2 has selected APEXX Global as its exclusive Payment Orchestration Partner to optimise and future-proof its global payments infrastructure
Binance and Franklin Templeton to Develop Digital Assets Initiatives and Products
Binance and Franklin Templeton announced a collaboration to build digital asset initiatives and solutions tailored for a broad range of investors
Charm Security and Give an Hour Unite AI and Mental Health Expertise to Fight Scams
Charm Security and Give an Hour have partnered to address the financial and psychological harms of scams and financial crime
Why So Many Fintech AI Projects Are Failing (And How to Fix Them)
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Mastercard, NCR Atleos, and ITCard to Enhance Contactless Experiences at ATMs
Mastercard with NCR Atleos and ITCARD are enabling cash to be securely withdrawn at contactless ATMs
Paytently and Mastercard Partner to Launch Next- Generation Open Banking Payment Solution
Paytently has launched Paytently Open Banking powered by Mastercard Open Finance streamlining payments end-to-end
Botim Expands UAE-Ethiopia Financial Corridor With Commercial Bank of Ethiopia Partnership
botim announced a partnership with the Commercial Bank of Ethiopia to deliver secure, convenient remittance solutions for Ethiopians in the UAE
Onafriq and Visa Partner to Launch Visa Pay, Unlocking Interoperability Between Card and Mobile Money in the DRC
Onafriq has partnered with Visa to launch Visa Pay to expand digital financial access across the DRC
Jet2 Selects APEXX Global as Payment Orchestration Partner
Jet2 has selected APEXX Global as its exclusive Payment Orchestration Partner to optimise and future-proof its global payments infrastructure
Binance and Franklin Templeton to Develop Digital Assets Initiatives and Products
Binance and Franklin Templeton announced a collaboration to build digital asset initiatives and solutions tailored for a broad range of investors