Press

2018

'A Dozen Start-ups Promising To Revolutionize SME Banking' (Forbes)

How do the UK’s small and medium-sized enterprises get a better deal from the banking industry which has for years neglected smaller businesses – or simply ripped them off? One solution, hopes the Competition and Markets Authority, is more competition from innovative new entrants to the financial services market, particularly in an era of open banking.

'Open Up Challenge finalists announced' (Finextra)

Nesta’s Challenge Prize Centre has today announced the twelve fintech businesses who will participate in the final phase of the ‘Open Up Challenge’.

'Seeding A Revolution' (Forbes)

10 Prize-Winning UK Fintechs Set Out Their Ideas For Open Banking Services.

2017

'Open Banking is a month away. Here's a big clue what it will do' (Wired)

Automated tax reporting, AI financial assistants that can forecast, and intelligent cashflow engines have all made it to the final of Nesta's £5m fintech prize.

'To change how you use money, Open Banking must break banks' (Wired)

On January 13, 2018, the UK's big banks will be forced to show startups their most precious data. But is Open Banking too revolutionary for its own good?

'Open sesame: PSD2 will trigger a tech boom' (AccountingWeb)

Alongside the risks, the promise is certainly there. A finance director will be able to pick and choose the tools they need to enhance their strategic capabilities. From the looks of the market, they’ll be spoilt for choice.

'Open Banking’s a step closer with these 20 fintech startups, but the clock is ticking on the CMA’s deadline' (City AM)

The UK’s progress toward making banking more open has taken another step forward after 20 fintechs were chosen to test out a new way of sharing banking information for the benefit of customers.

'Open Banking is coming. Here's the very first glimpse' (Wired)

The winners of Nesta's £5m fintech prize show just how significant Open Banking could be.

'Smile, banking is being forced out into the great wide open' (The Sunday Times)

Entrepreneurs should be able to borrow more easily from hi-tech rivals.

'£5m prize fund launched to help de-stress ‘stifled’ SMEs' (The Scotsman)

It is an irony that research has shown that one in five small business owners strike out on their own to cut stress, but one in three say dealing with business finances is their biggest source of it.

'Why open banking is the next frontier for financial innovation' (Growth Business)

With the EU’s Second Payment Services Directive (PSD2) and the UK’s open banking framework set to come into force next year, regulation may well tip the scales between banks and fintechs for customer loyalty.

'Charity reports finds ‘stress of financial paperwork’ is making small business owners people ill' (This Is Money)

Small businesses’ growth could be stifled because of the burden of financial administration, a study says. The report – for business innovation charity Nesta – found that 42 per cent of entrepreneurs say dealing with finances is the most stressful aspect of running a company. And 17 per cent add that the stress has made them unwell.

'How small businesses can gain control of their finances' (The Telegraph)

According to new research from Nesta, the innovation charity, 40pc of British entrepreneurs have admitted that managing their finances and banking has become the most stressful part of running their business.

'Here’s why open banking tools should target small businesses' (Business Insider)

While there’s been a lot recent interest in the benefits of open banking, much of the discussion so far has centered only on consumers.

'A Banking Revolution For Small Business – UK’s Nesta Challenges FinTech To Step Up To The Plate' (Forbes)

Small business banking in the United Kingdom is about to undergo a radical shake-up, driven in part by pressure from the competition regulator.

'UK Banks Fund £5m Fintech Prize to Build Apps for Small Businesses' (Wired)

Innovation foundation Nesta is launching a £5 million prize fund to inspire the creation of apps and tools to help small businesses compete in the digital economy.

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