Nadia Edwards-Dashti

I think this year more than ever before it has become clear that the banking sector in the UK is facing a number of challenges. In order to thrive banks must be flexible, innovative, and customer-focused in 2024 and beyond. I’ve just read an article which outlines 5 main challenges affecting the banking industry right now: 1. Fraud and financial crimes 2. Ethical concerns 3. Fintech development 4. Economic uncertainty 5. Online banking I’d love to know, in your experience, are there any challenges you’d add to this list? And as a side note, if you’d like to discuss fortifying your team with the right people to ensure your organisation is up to facing these challenges, drop me a DM today. https://lnkd.in/eGJ7k69E #Innovation #BankingSector #FinTech

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We were delighted to be asked back to Jersey Finance's 9x5 Fintech event. This is an opportunity for members of the financial services community to hear more about FinTech and RegTech applications and to meet with their founders and teams to better understand how these tools can help them leverage their business. We've added the video of the event in comments to show how Phundex can help streamline your operations and improve productivity. We're happy to show you how we can support your business operations. Not a Phundex user yet? Dive into a world of enhanced productivity – sign up for a free trial today and experience firsthand how Phundex can revolutionize your workflow Phundex Limited Work smarter, work faster with Phundex! You can find more articles on our website, at Phundex Knowledge Hub, or for other questions, please email us at:  hello@phundex.com. Not already a member of the Phundex LinkedIn Group? Join now for early updates and news about special pricing in 2024 Phundex LinkedIn Group Request a demo or trial today at support@phundex.com, or use the link on our website to book directly. #phundex #event #entrepreneur #innovation #growth #fintech 

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Countless press articles over the past few days covering Monzo Bank posting its first annual profit of £15.4m since launching in 2015 (including this latest one from the Financial Times below) The business is now valued at $5.2b. Lot's of questions (mostly dodged!) about the potential of a London listing or the prospect of a US listing with a growing US focus. Also confirmation that it’s in the early stages of expanding into the broader European market via a new base in Ireland which is exciting. The company said that it expects to grow its customer count to 11 million in the coming year under the leadership of TS Anil. The UK neobank scene appears to be thriving which is great. We currently manage more than 40,000 retail investor positions in Monzo from when they invested in the company between 2016 and 2018. Investors who participated in the 2016 round came in at a pre money valuation of £23.6m 😎 https://lnkd.in/eHcsex_u

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Monzo Bank Announces First Full Year of Profitability Amid Record Growth and Accelerates International Expansion Plans TS Anil, CEO of Monzo, said: “This was a landmark year of record growth for Monzo. We surpassed 9m personal customers and 400,000 business customers, launched game-changing new products, closed a £500m capital raise and, as planned, reported our first year of profitability. I’ve never believed in the idea that a company has to choose between either being mission-oriented or focused on business outcomes. FY2024 proved Monzo is doing both – and that our strategy of placing the customer at the heart of everything we do is working at scale. We’ve achieved scale, growth and profitability, and we have all the right components to seize the huge opportunity ahead.” https://lnkd.in/eKJ_2GnK #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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With neobank Monzo's recent significant investment and multi-billion dollar valuation, and the ongoing challenges faced by BaaS provider Synapse, the fintech sector remains a dynamic and intriguing space as we approach the summer months. Here's a clo https://lnkd.in/eHndnm4M

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🚀 Exciting news for freelancers in fintech! The demand for freelance talent in London has surged by a whopping 61.2% year-on-year. This boom is driven by increased tech investments and digital transformations in financial services. 📈 Top skills in demand include AI, machine learning, and data analytics. Interestingly, risk and compliance roles have skyrocketed by 86.5%. 🌟 It seems like now is the perfect time for tech-savvy freelancers to dive into the fintech sector. 🌐

What’s next for Open Finance in the UK?  Our Policy team’s Jago Corry authored a blog exploring ‘What’s next for Open Finance in the UK?’, dissecting expert views from #IFGS2024’s open finance policy roundtable, including discussions on the UK’s developing approach to open finance, and key lessons from other leading digital economies internationally 🌍 Now within a General Election period, this blog unpacks three key areas of consensus from the roundtable’s discussion for the next government to pick up 👇 📃 Market vs regulatory push factors Policymakers have a choice between framing how firms invest in open finance, whether through a universal mandate (‘regulatory push factor’), or firms’ providing access to their data for a fee (‘market push factor’). 💷 The need to showcase clear commercial viability Developing data sets and API stacks must be framed around identified use cases with direct commercial value for firms across the value chain. 🔓 Opening up public sector data sets comes first To initiate open finance use cases, firms across financial services must be granted access to sensitive public sector data sets, including from HM Revenue & Customs (HMRC), the NHS and Companies House. 🔗 You can read the blog at https://lnkd.in/d7YtJdC8 Adam Jackson | Paul Worthington | Michael Carter | Megan Jenkins | Jago Corry | Ellie Hewitt #InnovateFinance #GeneralElection #OpenBanking #OpenFinance #OpenFinanceTaskforce #VoiceOfFinTech

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Brilliant talk with a few key takeaways This flip book on “Coordination Headwind” https://lnkd.in/eUiiyPQ9 Imagine what would change if you spoke to you team and said “You are EXPECTED to make key decisions” Retrospectives on why key decisions were brought up, and what could change for you to be able to make that decision in future.

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This milestone is a mixed signal for me. While it highlights Monzo's potential and growth opportunities, the decade-long journey to break even and higher provisions for bad loans suggest caution. Many investors typically seek break-even points within three years, raising questions about the sustainability of the current fintech model https://lnkd.in/dTCjbFz6

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Monzo Bank Announces First Full Year of Profitability Amid Record Growth and Accelerates International Expansion Plans Monzo, the UK’s largest digital bank, today announced its first full year of profitability, achieving a pre-tax profit of £15.4m for the financial year ended 31 March 2024. This was driven by a 2.5x jump in gross revenues to £880m, across diversified income streams. This broad-based revenue growth has been driven by 9.7m customers who are trusting Monzo with more of their money, using it to spend, budget, save, invest and borrow. Monzo added 2.3m customers in the year, including 200,000 new business customers, and is already the UK’s seventh-largest bank. Customer deposits grew at a significant rate of 88% to £11.2bn, with deepening engagement across Monzo’s customer base, as the bank added more products and features to help customers manage more of their financial lives. The 2024 financial year saw Monzo scale and invest with discipline as it made strides on its ambition to become the one app customers turn to, to manage their entire financial lives. By bringing the best of banking and technology together, Monzo launched many game-changing products and features including Instant Access Savings, Monzo Investments, Cashback, and an industry-first in its fraud-preventing Call Status tool. Monzo’s Instant Access Savings Account launched at a time when it was needed most, attracting 1.3 million customers in just over a year. Monzo continued to invest in and grow its existing subscription offerings, with more than 500,000 customers subscribing to Monzo Plus and Monzo Premium to access key benefits. Its Investments product enjoyed exceptional uptake from first-time investors and a new Cashback rewards offering has seen £1.5m paid back to customers since its November launch. Throughout the year the company continued to help customers manage their money in the face of persistent economic challenges and the ongoing cost-of-living crisis. It passed on the majority of base rate rises to customers, paying out more than £130m in interest. It has also continued to support customers with their borrowing needs across a wider range of services including overdrafts, personal loans and Monzo Flex. Gross lending increased 84% to £1.4bn as the business continued to safely grow its lending business. Monzo’s popular savvy budgeting tools and features were put to work, with automated round-ups saving customers more than £16m each month and the 1p savings challenge helping customers put away £16m in FY24. Source Fintech Finance News #digitalbanking #fintech #banking

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At London Tech Week, Anil discussed Monzo’s success, its future, and how the fintech industry is adapting 📱 Describing the Monzo Bank model, TS Anil expressed: “It’s all about being mission focused as a company, and making products that are about making money work for everyone and using that as a moral and strategic compass. That’s the vision: in a single place we want people to meet all of their different money needs, and in doing so, have visibility over financial mistakes so they can make smarter choices to make their money last farther and longer.” 👇 Read more below 👇 #StartupsMagazine #Startups #Entrepreneur

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Alpha Group International plc (LON:ALPH) has just unveiled Alpha Match - the groundbreaking digital debt intermediary service! 💼💻 With a comprehensive database boasting over 290 lenders, Alpha Match promises to transform the fund finance industry, offering transparency and efficiency in securing the ideal lender and terms. 💥💰 In a landscape where small and mid-cap private capital funds grapple with liquidity challenges, Alpha Match emerges as the vital link, providing borrowers access to a diverse range of lenders tailored to their requirements. 🌐💡 Amidst evolving lender preferences and heightened regulatory scrutiny, Alpha Match arrives at a pivotal moment for fund managers, investors, and lenders, offering a solution to navigate the changing terrain. 🔍📈 Visit the website now to screen initial requirements and unlock the potential of Alpha Match in connecting with the perfect lender! 📲✨ #AlphaMatch #FundFinance #DigitalDebt #LiquidityGap #PrivateCapital #FinanceInnovation #Fintech #LenderNetwork #FinancialSolutions #Finance #AlphaGroup #FinancialTech #MarketInsights

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Today we're at the FinTech North Leeds Conference, where Whitecap played a prominent role in the event including helping chair some of the sessions, as part of the opening session Director Julian Wells, presented the launch of the SuperTech WM Professional Services Technology (ProfTech) Research and Innovation Roadmap, standing in for Hilary Smyth-Allen. The roadmap, created from over 150 hours of consultation with industry leaders, academia, and ProfTech stakeholders, is the UK's first unified multi-year plan. It outlines coordinated initiatives across FinTech, PropTech, LegalTech, and InsurTech, setting the stage for future innovation and collaboration. Later in the agenda we shared our recent regional FinTech scaleup research findings, the unique study, born from the collective expertise of three organisations deeply embedded in the UK’s FinTech ecosystem, provides valuable insights into accelerating the growth of regional scaleups. View the reports here: https://lnkd.in/e8Uj3TFT If you couldn't make the conference, you can still catch the last session live from FinTech North LinkedIn page. #proptech #fintech #legaltech #insurtech #proftech

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🚀 Exciting Announcement from SHIFT Open Finance Community and Woodhurst! 🚀 We are thrilled to unveil the "Ignite" programme. Ignite is an exclusive incubator programme designed to transform disruptive fintech ideas into reality with financial support, expert guidance, and extensive industry networking. Key Features of Ignite: 🌟 Personalised Mentorship: Tailored guidance for one member at a time from Woodhurst’s specialist consultants. 🌟 Vast network penetration: Access to a wide network facilitating exposure, learning from industry leaders, and forging connections with potential investors, clients, and collaborators. 🌟 Infrastructural support: Initial funding injection, co-working facilities, and vital technology resources to kickstart participants' entrepreneurial journeys. Ignite stands out by dedicating its full support to one programme member at a time, ensuring focused and flexible mentorship. The program offers a tailored support for early-stage disruptors to rapidly validate market fit, design lean solutions, and launch collaboratively. Apply by 12th August to join Ignite and turn your fintech vision into a reality. For more information, contact: kyle.masterson@shiftopenfinance.com 🔗Click on the link here to find out more: https://lnkd.in/d-Azgth3 #Fintech #Innovation #Entrepreneurship #TechInnovation #FintechStartups #SHIFT

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🚀 Exciting Announcement from SHIFT Open Finance Community and Woodhurst! 🚀 We are thrilled to unveil the "Ignite" programme. Ignite is an exclusive incubator programme designed to transform disruptive fintech ideas into reality with financial support, expert guidance, and extensive industry networking. Key Features of Ignite: 🌟 Personalised Mentorship: Tailored guidance for one member at a time from Woodhurst’s specialist consultants. 🌟 Vast network penetration: Access to a wide network facilitating exposure, learning from industry leaders, and forging connections with potential investors, clients, and collaborators. 🌟 Infrastructural support: Initial funding injection, co-working facilities, and vital technology resources to kickstart participants' entrepreneurial journeys. Ignite stands out by dedicating its full support to one programme member at a time, ensuring focused and flexible mentorship. The program offers a tailored support for early-stage disruptors to rapidly validate market fit, design lean solutions, and launch collaboratively. Apply by 12th August to join Ignite and turn your fintech vision into a reality. For more information, contact: kyle.masterson@shiftopenfinance.com 🔗Click on the link here to find out more: https://lnkd.in/d-Azgth3 #Fintech #Innovation #Entrepreneurship #TechInnovation #FintechStartups #Woodhurst

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The National Payments Vision for FinTech ⭐ We have submitted our input to HM Treasury as part of its work on developing a National Payments Vision (NPV), which is due to be published by the summer. We outline why the NPV needs to set out an ambitious agenda to help deliver the next generation of payment experiences for merchants and consumers, building on the successful innovation and competition that FinTech has helped bring about. The UK should be the world leader in digital wallet payments, with a digital payments ecosystem that supports and enables a diversity of payment methods and providers, underpinned by competition where the consumer has choice and control and can easily use different payment systems, methods and providers with ease and with confidence in an equivalent level of consumer protection. This trusted, competitive, digital, interoperable ecosystem can enable: - Improved productivity for UK merchants and businesses - Better outcomes for customers and citizens - Increased growth and inward investment for the UK payments industry   - Greater strategic autonomy and resilience for the UK economy and society   Our paper examines FinTech’s role in the payments landscape, how the government can implement, deliver and review the NPV’s progress, and key aims that the NPV should include to support the FinTech sector, such as: ⚙️ Account to Account payment method: The NPV should prioritise the development of a new major payment method to compete with card payments, powered by Open Banking.  📜 Regulatory support for innovation and competition: Deliver a regulatory framework that allows different digital payment methods to compete on a level playing field. 🏗️ National Payments Architecture (NPA): A recommitment to deliver NPA and its strategic objectives, with a clear roadmap and timeline for implementation, and an ambition that is cloud-native. 🌍 Interoperability: The NPV should set out a roadmap for working towards interoperable payment systems, domestically and globally. See link to the report 👉 https://lnkd.in/eAinjhYg #FinTech #InnovateFinance #VoiceofFinTech #DigitalPayments #FutureofPaymentsReview #NationalPaymentsVision #Paymentstrategy #UKFinTech #Payments Paul Worthington | Adam Jackson | Jago Corry | Megan Jenkins | Christopher Foo

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Monzo Bank, the fintech which has become one of Britain's biggest consumer banking groups, is this weekend putting the finishing touches to an expanded fundraising involving one of the world's best-known technology investors. Sky News has learnt that Monzo has agreed terms with Hedosophia, an early backer of Airbnb and Uber, for it to become a shareholder in the bank. Read more 👇 #Monzo #bank #onlinebanking #investments

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Read the latest article on our fundraising efforts here https://lnkd.in/eAPjTiZK. You can hear from our CEO Tim Rooney on all things Salad and why #openbanking is key in what we do. #PR #Investment #Crowdfunding

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