Johnny Vowles

#EQLS Building, testing & continually improving one's own state-of-the-art B2B payments platform, alongside obtaining & complying with increasingly tough FCA regulations is far from simple. Indeed that's why more & more fintech businesses are instead choosing to 'white-label' such services from best-in-class operators like Equals Money. In fact augmenting its own leading products, Equals Money has just launched a new top-notch Banking-as-a-Service (BaaS) solution that can be 'white-labelled' by external 3rd parties. The BaaS includes custom-branded cards, global payments and multi-currency IBANs. Thus opening up extra revenue streams and enabling white-label partners to 'run on #EQLS's banking/payment rails' without having to either secure regulatory licenses (re AML, KYC, etc) or invest in expensive technology. A win-win situation. Here CASHet, a US film industry payments provider, and Chorus TM, a global treasury management solution for the music and entertainment sector, have both already signed up for the service. James Simcox, chief product officer and MD international for Equals, says: "This move essentially means businesses can become a banking provider with just a few lines of code - thanks to the infrastructure already put in place by Equals Money." Disclosure: I own shares in #EQLS, who is also a Vox Markets client.

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Yesterday I received an email into my personal email account which straight away rang some scam alarm bells. I normally share crypto crime content on Friday but since this feels like a live one I wanted to share this sooner rather than later. The email purported to be from Aleo, a L1 blockchain focussing on zero knowledge/privacy, but was coming from typeform and specifically from the email address '[email protected]' The email was addressed to ‘Community Members’ but since I didn’t remember signing up to receive any notifications about Aleo’s incentive program this struck me as immediately odd. In addition, the fact it was coming from TypeForm rather than an official email account for the project was another red flag. The email content contained a line which jumped out to me too “Keep in mind that only verified, eligible users will be able to participate, so don’t delay!” This contains a perfect example of fomo inducing language and also is very clear that it’s trying to get you to share some personal and potentially sensitive wallet data. 🚩’s a plenty already. So I hovered over the “Join us” button to see where the email was trying to direct me and it was a bit.ly address. This isn’t necessarily a scam sign as truncating a URL is standard practice but I certainly wasn’t going to be clicking this without further digging. I used an URL checker to see where this was redirecting users and it went through a website which is an online community for “WWII living history” enthusiasms then to an Aleo related website and finally resolved at yahoo.com Odd by all accounts there 2 security vendors were also flagging this as a phishing website and so my suspiciouns were already looking valid. The Aleo related website they were directing people to was aleofoundation(dot)digital, and this immediately looks like a phishing website since .digital domains are cheap to buy (the price of this domain was estimated to be c$133) and a quick look at the official Aleo Twitter account shows that their website is Aleo.org . The domain was also registered on 10th Sept 2024. Furthermore when I looked on the official website I found a blog about the incentive program (which was the content in the email) and which clearly outlined that the eligibility check was via the Aleo wallet NOT an external website. https://lnkd.in/eVadbMYv In summary, the red flags were: 🚩Receiving an email about a project that you have not proactively engaged with or signed up for updates from 🚩The email address doesn’t match the official project name 🚩FOMO language and trying to get you to share sensitive or wallet related information 🚩The URL you’re being directed you to redirected to a different website (you can check this using tools such as virustotal.com)  🚩The URL uses a less familiar domain ending such as .digital and is very recently registered

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Our latest three minute podcast!

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Are you in the UK payments industry, and do you suffer from "consultation fatigue"? If so, then you may wish to avoid yesterday's announcement from the Bank of England... After last year's Treasury consultation on the National Payments Vision, the BoE now wants payments pros to respond to another consultation on "innovation and money in payments" A lot of what's in this consultation has already been covered in the Treasury consultation and in last year's consultations on the digital pound Are you planning to respond to this one, or have you had enough of consultations for a while? https://lnkd.in/dNuzUGrB

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New digital-only bridging lender Morpheus Lending launches in the UK. Initially, Morpheus will provide bridging loans of up to £750,000, with the start-up leveraging a suite of tech features such as digital KYC and due diligence checks, open banking, and biometric authentication to streamline the lending process. Morpheus claims that its approach “significantly reduces” the time required to secure funding, compared to last year’s sector average of 58 days. In addition, the company states that it has built a “bespoke property valuation tool” that utilises data analytics and artificial intelligence (AI). The tool eliminates the need for paper by deploying embedded electronic signatures and automating tasks and follow-ups for brokers and clients. #digital #AI #openbanking

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Starling Bank's SaaS platform Engine could generate hundreds of millions of pounds a year for the UK digital bank, propelling it towards a £10 billion valuation, predicts investor Chrysalis. Engine is an API-based, cloud native platform initially built by Starling’s own in-house tech team to run the UK bank. In 2022, Starling began offering Engine to other lenders, promising to help them quickly launch new digital services or to replace legacy systems. The platform has so far only secured two clients, Salt Bank in Romania and AMP Bank in Australia. However, Starling's second largest shareholder, investment trust Chrysalis, is expecting Engine to become a significant source of revenue. The core banking transformation market is heating up. Starling is not the only bank spinning off its technology. It joins other dedicated vendors such as Mambu and Thought Machine as small and medium banks undergo rapid transformation programs. #digital #corebanking #transformation

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World's top fintech companies 2024 is out! It's interesting to see all of the UK-based firms are all based in London comparing with the US that has firms all over the country 🤔 #Transwap as a Scottish company in the UK, we will break this tradition one day 🏴󠁧󠁢󠁳󠁣󠁴󠁿 🇬🇧 What's your thoughts? #fintech #payment #Transwap #VIBAN #UK #fintechUK #fintechscotland #finechLondon

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Interesting read on banks pushing into the Fintech space with some exciting new propositions worth a mention: 🔹 Starling is white-labelling its banking software, "Engine," to other banks for a monthly SaaS fee. Though only 2 clients are signed up, investors are excited about its potential to drive Starling to a £10bn valuation in the next few years. 🔹In January, Europe’s biggest lender, HSBC, launched its international payments app, Zing, to compete directly with Wise and Revolut on FX and Payments. 🔹 NatWest's Boxed helps FinTech’s get to market faster by using Natwest’s banking-as-a-service for technology and compliance. CEO Andrew Willis says Boxed will become “a material part” of Natwest’s financial services revenue. #Fintech #SaaS #Payments #BaaS https://lnkd.in/eBrza3TH

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As someone who spends much of my time studying the #AdviceTech both in #America and #Britain contracting the adoption of #FinTech and the reasons behind the differences across both jurisdictions is an interesting subject an excellent read from Alina Khan at FT Adviser. #WealthTech #FinancialAdvice

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Bank of England rate cuts in sight – But investors want a clear 2025 roadmap!! 📉 As the Bank of England signals potential rate cuts, investors are eager for a transparent plan through 2025. 📅 With inflation, growth, and stability at stake, a clear strategy is essential to navigate shifting markets and economic uncertainties. Are rate cuts alone enough, or do we need a broader vision for financial stability? 🌐 🔗 Find out more reading the full article: https://lnkd.in/dgskszw2 #BankofEngland #RateCuts #InvestorInsight #EconomicStrategy #FinancialStability

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How I Raised £100K in 30 Minutes from One of the UK's Largest Fintech Angel Investors 📖 After the positive response to my last post, I wanted to share another story that I hope will be valuable to many of you. This is about how I secured £100K in just 30 minutes from one of the top fintech angel investors in the UK 💰 When I arrived at his office—a stunning building overlooking Regent Street—I was blown away. Growing up in East London, I never imagined I'd find myself in a place like that. But this meeting, arranged by two of our incredible advisors, was pivotal. Advisors are not only mentors but can be a powerful force for business development and even investment—especially when you incentivize them correctly. The investor already knew a lot about me through our advisors, which made a huge difference. Personal branding is key: it helps build rapport even before you step into the room. The respect and connection were there right from the start. We discussed our business, my personal journey, and why I’m so passionate about this venture. He saw my drive, hustle, and resilience—qualities I believe are essential for building any successful business. What sealed the deal was when we delved into one of our products that resonated with him, along with a well-articulated exit strategy that was ambitious but not unrealistic. It made our business appear real, relatable, and scalable in his eyes. A few key takeaways from this experience that I believe can help anyone 👇 1️⃣ Build a strong reputation. Make sure people know who you are before you enter the room. LinkedIn and solid business achievements are great tools for this. 2️⃣ Likeability and relatability matter. Even if you come from completely different worlds, find a common ground. Most investors have met people from diverse backgrounds and can recognize potential. Highlight that connection and double down on it. 3️⃣ Find the one aspect that resonates with the investor. In our case, it was a specific product and its potential for growth in developed markets. Once you identify that, focus on it. In the end, I didn’t just walk away with the investment to grow our business—I gained a mentor and advisor. This experience also reinforced my belief in the opportunities available when we approach entrepreneurship with the right mindset. The UK’s enterprise investment schemes, for example, offer tremendous potential. Just three years ago, I was still at university. If I can do this, so can any of you 💥 ➡️ Like this post? ♻️ Share it with your network & follow me, Samuel Flynn, for more like it 💙

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Today's news....Big Tech is firmly in the FCA'S crosshairs, it would appear. The FCA is turning its attention to the likes of Google, Amazon, and Facebook as they expand into financial services. What does this mean for fintech? More scrutiny for Big Tech means: ‣ A level playing field for fintech startups ‣ Increased innovation in financial services ‣ Better protection for consumers But it also means: ‣ Stricter regulations for all players ‣ Higher barriers to entry for new fintech firms ‣ More complexity in the financial system for sure What do you think about the FCA's decision to prioritize Big Tech? #fintech #regtech #bigtech #fca #financialregulation #innovation**

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Rachel Reeves and the Treasury have pledged to "embrace" the fintech sector, which could contribute an astonishing £330bn to the government’s coffers over the next five years! According to a policy plan by Innovate Finance, shared with City A.M., the fintech industry is poised to deliver £328bn in tax revenues by 2029. This growth hinges on unlocking institutional investment and streamlining data policies. “Fintech is one of the most obvious drivers for growth in the UK,” said Janine Hirt, Innovate Finance CEO. She emphasized the need for government support through smart data legislation, reviewing payment reimbursement schemes, and focusing on innovation. Despite recent funding slowdowns, the UK remains a global leader in fintech, second only to the US. With strategic support and investment, we can maintain our edge and continue to drive innovation, inclusion, and economic growth. The future of UK fintech looks bright, and with the right support, it will undoubtedly be a powerhouse for our economy. Let’s embrace this opportunity and drive forward! #Fintech #SearchChainPartners #Innovation #EconomicGrowth #UKLeadership

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🚨 UK Banks Are Pulling the Plug on SME Funding! 🚨 In recent years, UK banks have slashed their lending to SMEs by a staggering 45%, according to a report by The Financial Times in 2023. As banks tighten their belts, UK businesses have increasingly turned to alternative lenders to bridge the gap. The alternative lending market in the UK has grown by over 60% since 2021, with companies relying more on these innovative solutions to keep their operations running. Enter Synergy Exchange and Fundercatz. 🦁 We’re not just another lender—we’re your principal partner in financing success. Fundercatz is not a broker, we are a principle lender! We make the full and final lending decision, without passing you off to someone else. Our bespoke facilities offer up to 240 days of funding for supplier payments, all while streamlining your FX and finance needs in one place. 🌍 Curious how we can transform your business? Watch our explainer video and discover the future of international trade finance for UK SMEs. 💡 https://lnkd.in/ebD2S94g #UKSMEs #AlternativeFinance #InternationalTrade #FX #BusinessFunding #SynergyExchange #Fundercatz

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2024 has been a defining year for stablecoins, with market cap peaking at $170bn📈. New entrants like PayPal’s PYUSD and First Digital’s FDUSD are gaining traction, while Stripe’s acquisition of Bridge marks a major step forward in embedding digital currencies with core financial services. One question looms large: is there a ceiling to this growth? Stablecoin issuers typically operate under a narrow banking model, holding reserves in safe assets like T-bills. Tether.io alone now holds $100bn in U.S. Treasuries, making it a top-20 holder. If stablecoins continue to grow at even half their recent rate, within four years, the top five issuers could hold $440bn in U.S. debt. In today’s terms, this would position them the 4th largest holder globally, just behind Japan, China and UK. 🌎 Such growth, however, holds risks⚠️. A sudden sell-off due to regulation or loss of confidence could spike yields and disrupt liquidity in short-term funding. Similarly, as capital shifts from traditional bank deposits to stablecoins, banks might have fewer resources to lend, impacting the money multiplier effect. A Federal Reserve Board study suggests this could lead to a contraction in the money supply if deposits increasingly move into reserve-backed stablecoins. It’s unsurprising that governments are paying close attention🧐. The U.S. Department of the Treasury recently discussed tokenising T-bills on a government-managed blockchain, while proposals like the Clarity for Payment Stablecoins Act and Lummis-Gillibrand Payment Stablecoin Act seek to establish regulatory clarity in the U.S. How can we mitigate stablecoins' growing influence on U.S. debt? One option is to limit large redemptions to prevent sudden sell-offs, although the decentralised nature of DeFi makes it challenging to control the redemption flows🔄. A more feasible approach might be capping the percentage of U.S. T-bills that stablecoin issuers can hold - a change that holds major implications. If U.S. T-bill holdings are restricted, billions of capital could be reallocated to assets like cash, non-U.S. government bonds, commercial paper, or reverse repos. We might also see the rise of bank-issued stablecoins (such as Societe Generale - FORGE ’s EURCV), backed by commercial deposits. Non-bank issuers might be required to hold a significant portion of reserves in tokenised bank deposits, therefore, giving banks enough ammunition to continue to lend, maintaining credit creation akin to a two-tiered CBDC model. This evolving landscape could create substantial opportunities for the startup ecosystem🚀. Key themes to watch include (see the comments section for a full analysis): • Stablecoin diversification: Reserve Liquity Fortunafi • Tokenised liquid assets: BlackRock Fidelity International • Yield enhancements: Hashnote Ethena Labs Ondo Finance • Infrastructure solutions: Kaleido Adhara • Liquidity management: August (prev. Fractal) M^0 Labs • Treasury management: Palm Coinshift

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🐍 If you're not sharing information, you're just another snake in the grass. 🐍 🌐 In a world so hyper-connected, why are businesses still treating data like a closely guarded secret? The UK Finance report on the Information Sharing Pilot and the ICO Sandbox highlights how sharing data doesn't just comply with regulations—it drives innovation! 🚀 Imagine if we all operated with an open-data mentality, akin to open-source software. The flow of insights could crush inefficiencies and generate new avenues for growth. But are we too busy guarding our petty empires to see this? 🔍 The Sandboxing model encourages organizations to explore safe environments for sharing sensitive data. This initiative isn't just a nod to compliance; it's a goldmine of collaboration possibilities. Picture this: finance teams sharing their techniques with marketing wizards, sales gurus crunching numbers in real-time—if more companies embraced this, productivity could skyrocket. 📈 Take Finotor, for instance. Imagine having a platform that integrates financial analysis and shares crucial insights instantly with other departments. This kind of seamless interaction fostered by platforms like Finotor isn't just the future; it's the now. Yet, many remain stuck in the bog of outdated, siloed information. It’s time for leaders to break the mold, align their teams, and start valuing information as an asset to be shared, not hoarded. 🎯 Feeling anxious about IP theft or data leaks? It’s time to build smarter safeguards, not taller walls. Ultimately, isn’t the real risk in not evolving at all? Let’s throw open the gates and start reimagining how we share. After all, isn’t the best way forward together? Franck BRUNET ---------------------- Liked this post? Want to see more? Ring it on my profil 🔔 Connect with me 🔝 Follow me: #franckbrunet #finotor

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OK UK government – what have you done for fintech lately? As the UK prepares for a change in government, I look back to the days of a nascent fintech industry We are no longer in a post-global financial crisis world, but a post-Covid world. Many countries find themselves with an ageing population, while climate issues and geopolitical tensions will impact immigration and global economies further. We need the increased competition and innovative thinking of fintech more than ever. #TheBanker #FreetoRead https://lnkd.in/e6GciY52

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