fintech digest
UK SME Policies Overhaul Needed, McKinsey’s EU Fintech & More
Research Team
1 December 2023
Government must overhaul support policies as UK SMEs want more guidance
With interest rates likely high for the foreseeable future, SMEs are reassessing their outlook and trying to set a clear course for the future. Around two-thirds (64 per cent) of UK SMEs want more resources and support to be made available to support them and their businesses.
Europe’s fintech opportunity
Fintech has moved from the fringes of European finance to its core, but performance varies widely. If all countries could match the best in region, the economic benefits would be considerable.
Credit card spend up £100 in September 2023 when compared to 2 years ago
With interest rates likely high for the foreseeable future, SMEs are reassessing their outlook and trying to set a clear course for the future. Around two-thirds (64 per cent) of UK SMEs want more resources and support to be made available to support them and their businesses.
Google parent company Alphabet in talks to seize major stake in UK challenger Monzo
Alphabet, the parent company behind Google, is reportedly on track to seize a major stake in the digital retail bank Monzo as it leads investors in a fresh funding round.
Alphabet will leverage its independent growth fund Capital G to pour between £300 million and £500 million into the UK-founded challenger, valuing it above £4 billion, Sky News reports.
UK funds given green light for tokenisation
Investment funds authorised in the UK may now be able to progress their tokenisation strategies following the publication of the first report from a government-backed industry working group.