by Ekrem Duman | Jul 25, 2026 | Banking, Fintech & Transfers, United Kingdom Finance & Fintech
⚡ TL;DRThe FCA, PRA and PSR regulate different dimensions of UK finance. The FCA focuses on conduct, consumer outcomes, market integrity and competition; the PRA, inside the Bank of England, focuses on the safety and soundness of banks, insurers and major investment...
by Ekrem Duman | Jul 25, 2026 | Banking, Fintech & Transfers, United Kingdom Finance & Fintech
⚡ TL;DRThe UK does not have one payment rail. Bacs handles huge volumes of scheduled Direct Debits and Direct Credits; Faster Payments moves retail and business account transfers around the clock, normally within seconds; and CHAPS settles high-value or time-critical...
by Ekrem Duman | Jul 25, 2026 | Banking, Fintech & Transfers, United Kingdom Finance & Fintech
⚡ TL;DRUK open banking lets authorised providers access account data or initiate payments through standardised bank APIs when a customer gives explicit consent. It began with a competition order imposed on nine large banks, then grew into infrastructure supporting...
by Ekrem Duman | Jul 25, 2026 | Banking, Fintech & Transfers, United Kingdom Finance & Fintech
⚡ TL;DRRevolut began in 2015 by making travel spending and foreign exchange easier, then expanded into accounts, cards, transfers, subscriptions, trading, credit and business finance. Its 2025 revenue reached £4.5 billion and profit before tax £1.7 billion, while the...
by Ekrem Duman | Jul 25, 2026 | Banking, Fintech & Transfers, United Kingdom Finance & Fintech
⚡ TL;DRMonzo began in 2015 as an app-linked prepaid card, used real-time notifications and a distinctive coral card to make everyday spending understandable, then converted customers to full current accounts under a UK banking licence. In FY2026 it reported £1.7...
by Ekrem Duman | Jul 25, 2026 | Fintech & Transfers, International Finance, United Kingdom Finance & Fintech
⚡ TL;DRWise began in 2011 after its founders matched pounds and euros locally instead of sending each payment through an expensive international bank route. The company built that insight into a global network for transfers, multi-currency accounts, cards and embedded...
