Financial Conduct Authority stories

Cryptocurrency scams have surged in the UK, with victims losing GBP £306 million in 2023, prompting warnings for greater vigilance in the digital currency market.

British AI firm Aiimi has launched its Aiimi Insight Engine on the Microsoft Azure Marketplace, enhancing global workplaces' data management capabilities.

London-based Guavapay has reported a remarkable 71% growth in annual revenue for 2024, driven by a larger customer base and staff expansion.

The Crown Commercial Service designates Aiimi as an official AI provider, facilitating widespread AI solutions to enhance efficiency and data security in the public sector.

KPMG Law partners with Shieldpay to streamline legal transactions across the UK, using TPMA technology to enhance security and efficiency for corporate and real estate clients.

A new report by IFX Payments reveals that 78% of UK SMEs are set to expand globally despite facing challenges from ring-fencing regulations and Brexit.

Ciphr enhances its payroll capabilities by acquiring Shape Payroll, integrating Shape's advanced API-led solutions and expanding its reach within the UK market.

Trustly’s 2023 annual report reveals a 79% surge in transactions, totaling US$58 billion, and a 51% rise in operating profit, driven by its expanded presence and strategic acquisitions in Europe.

Insurer Wakam launches its UK subsidiary, Wakam UK Limited, signalling a major expansion feat in the heavily regulated market.

PayComplete's Cash Chasm report highlights challenges in cash handling, with 41% of businesses reliant on manual processes and risking losses.

Fintech firm Volopa seals an extensive partnership with ClearBank to bolster services for SME clients and aid its quest for an e-money licence.

Health and wellbeing providers Vivup and Perkbox reveal a merger backed by Great Hill Partners, striving for an all-in-one solution for UK employee benefits and wellbeing.

UK fintech firm Griffin successfully secures $24m funding and green light from PRA and FCA, becoming a fully operational bank.

UK government's wait and see approach to AI regulation sparks criticism among lawmakers over lack of urgency despite AI's existential threat warnings.

Lithuanian fintech PAYSTRAX begins UK operations after robust growth in Europe, aiming to impact the local tech scene.

Unethical practices are pervasive in the UK's software engineering industry, with many workers facing retaliation for reporting misconduct.

SaaScada has issued five forecasts for the United Kingdom's fintech sphere in 2024, including a crisis in artificial intelligence and major shifts in payments.

Cambridge fintech Monavate boosts growth with the launch of a Supply Chain Payments division, helmed by Anant Patel.

UK financial technology firm Griffin hires Marina Gorey as Chief People Officer to drive its organizational growth and development.

Gig workers face financial exclusion despite their contributions to the UK economy, new report finds. #GigEconomy #FinancialInclusion.