Mus Jaffery

Industry-first ‘The Payments Directory’ Launches as the Go-To Platform for Businesses Seeking Transparent and Tailored Financial Solutions Without the Need for a Broker Libby James 💳🤓, Founder of Merchant Advice Service commented on the launch of the industry-first The Payment Directory: “Having started working on The Payment Directory back in March as a direct result of my frustrations around the lack of transparency and education available to business owners navigating the complex landscape of financial services, I’m incredibly excited to be able to launch an entirely self-serve solution. “I know it’s going to cause a stir in the industry, with this being the first time that this information has been released to businesses allowing them to take control, do the research and get educated on financial services by themselves, but I want to empower businesses and help them to understand the process and the industry better.” https://lnkd.in/ey6Tv8_g Samantha Walker 10 Yetis Digital #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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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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𝗠𝗼𝗻𝘇𝗼'𝘀 𝗚𝗿𝗼𝘄𝘁𝗵 𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝘄𝗶𝘁𝗵 𝗡𝗲𝘄 $𝟱.𝟵𝗕 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 Monzo Bank, the UK-based digital bank, has achieved a $5.9 billion valuation through a recent secondary market share sale, allowing employees to benefit from the company's success without needing to go public. 🌱 𝗞𝗲𝘆 𝗽𝗼𝗶𝗻𝘁𝘀: • Investors such as Singapore’s GIC and StepStone Group have increased their stakes, highlighting strong confidence in Monzo’s future. • Monzo’s recent $190 million raise, part of a larger $425 million Series I, included Alphabet’s CapitalG and GV. • The bank recently reported its first full-year pre-tax profit, with revenues doubling year-over-year. • Serving 20% of UK adults and 6% of UK businesses, Monzo is solidifying its market presence. • Expansion plans are in motion with a focus on Europe and the U.S. as it continues to scale. Monzo's trajectory reflects the growing influence of challenger banks in the global fintech landscape. 🌍💸 Source: https://lnkd.in/ejDQnAYF For more weekly insight and thought-provoking analysis, ensure you get your copy at 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗕𝘆𝘁𝗲𝘀: https://lnkd.in/ev-WMFzG. Make sure you sign up to get your weekly analysis.  #Fintech #Monzo #Growth #ChallengerBanks

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UK’s Largest Independent Payments Broker Launches Tech-Enabled Cash Service to Boost SME Cash Flow Richard Bradley, CEO of acceptcards® Independent Payment Experts and Accept Cash, said: “The cost and time implications of depositing cash is currently squeezing SMEs financially and operationally. Not only does it take time out of a working week for a staff member to cash up and physically go to a bank, it’s also increasingly difficult to do so given the rise in high street banking closures. Added to this, the fees associated with depositing cash can be very high, making it difficult for SMEs – who want to be able to offer cash to their customers – to balance the books and forecast cash flow. “As an independent payments broker, we pride ourselves in disrupting this sector with the latest innovations in technology. Cash is here to stay and we’ve identified that SMEs need to be able to deposit cash quickly and affordably. Accept Cash’s innovative approach and use of new technology will allow businesses to access cash in their bank accounts on the same day – without having to visit a bank – by combining open banking and technology with secure smart safes. We’re pleased to be one of the very few providers in the UK to offer this same day settlement service and respond to demand. “Not only is Accept Cash the perfect solution to solving a big headache for businesses processing cash, it is likely to also encourage some businesses who have moved away from cash to return to accepting it. Ultimately, consumers need to have the choice of both cash and card payments and this should not be prohibitive in any way for SMEs; after all, they remain the backbone of the UK’s economy.” https://lnkd.in/ervZ2Jku Martin Smith Kayley Worsley MCIPR Jason Costello Richard James West #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Monzo Bank Raises Additional $190 Million TS Anil, CEO of Monzo: “The huge interest we see from global investors is testament to the momentum and strength of our business model and the commitment of our teams, who put our customers at the heart of everything we do. With even more rocketfuel for our ambitions and exciting products in the pipeline, there’s no doubt in my mind that the best of Monzo is yet to come.” https://lnkd.in/etJWG4yq #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Tink Launches Merchant Information to Give Consumers Full Transaction Visibility Jack Spiers, Banking & Lending Director at Tink, commented: “By providing a clear and understandable way of presenting bank account transactions, Tink’s new Merchant Information solution is a win-win for all parties. Consumers can easily recognise their transactions, reducing the need to contact their bank for additional information or to request a refund. While for banks, this opens up large potential cost savings, through fewer enquiries. “Banks and merchants are increasingly interconnected in their digital transformation journeys. Tapping into Visa’s extensive merchant data network, we can enhance the customer experience to give consumers the 360-degree understanding of their spend they deserve.” https://lnkd.in/eiBgFXT2 Sylwia Lindén Stuart Shingler Pascal Lemesre Linda Winder Tobias Schudt Daniel Kjellén Guillermo Lopez Perez #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Raimac Financial Technology Partners with Cashflows to Launch Programmable Payments in the UK Read the full story here: 👇 https://lnkd.in/ezwq4AFr #payments #paytech #fintechboostup

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Big thanks to Modern Lender for the opportunity to discuss MagiClick Digital's work in the mortgage technology space and our focus on reimagining digital experiences for lenders, brokers, and borrowers. 👉 You can read the article here: https://lnkd.in/eGDxBdjY #mortgagetechnology #digitaltransformation #fintech

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Monzo Bank's FY24 results are in, and they've hit a 𝐦𝐚𝐣𝐨𝐫 𝐢𝐧𝐟𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐩𝐨𝐢𝐧𝐭. Diving deep into the numbers reveals three key drivers behind its impressive growth: 1. Customer Expansion 👤 Monzo's customer base grew from 7.4M in FY23 to 9.7M in FY24, including a doubling of business accounts from 200K to 400K. With 46% of new customers acquired through word of mouth, this organic growth highlights strong customer satisfaction and brand loyalty. 2. New Product Innovations 🆕 The launch of products such as tax-free savings ISAs has attracted 1.3M customers. Monzo Flex (a novel credit card/BNPL hybrid), and overdraft facilities offer higher interest rates and greater financial flexibility. A significant 42% rise in card spend—from £33.6B in FY23 to £47.8B in FY24—demonstrates heightened customer engagement and trust, solidifying Monzo as a preferred choice for daily transactions. 3. Enhanced Profitability and Financial Strength 📈 Monzo’s profit before tax hit £15.4M, marking its first full year of profitability. This milestone underscores effective cost management, diversified revenue streams, and scalable operations. With gross revenue surging 2.5x to £880M, Monzo’s successful monetisation strategies and strong market demand are evident. At the same time, customer deposits soared by 88% to £11.2B, reflecting growing customer confidence and reliance on Monzo as a primary banking institution. Future Growth Trajectories: Strategic Focus Areas 🎯 Monzo aims to expand its consumer base to 11M by FY25, leveraging organic growth and innovative marketing strategies. It plans to venture into mortgages and go deeper into business lending, indicating significant headroom for product diversification and revenue enhancement. Moreover, Monzo's strategic entry into Europe, with an Irish HQ, and exploration of the US market, signals an ambitious geographic expansion plan to unlock new growth avenues.  ___________________ 𝐓𝐡𝐢𝐬 𝐢𝐬 𝐣𝐮𝐬𝐭 𝐚 𝐭𝐚𝐬𝐭𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐢𝐧𝐭𝐞𝐥 𝐲𝐨𝐮'𝐥𝐥 𝐮𝐧𝐜𝐨𝐯𝐞𝐫 𝐰𝐢𝐭𝐡 𝐚 𝐖𝐡𝐢𝐭𝐞𝐒𝐢𝐠𝐡𝐭 𝐑𝐚𝐝𝐚𝐫 𝐬𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧. Supercharge your Fintech IQ with exclusive reports, industry trend breakdowns, and expert analysis on everything shaping the future of finance.  Become a member and steer your business course with actionable intelligence on the winning strategies of leading fintechs - because knowing what's next is the ultimate competitive advantage ➡️: https://lnkd.in/gVfE8Cwg via @WhiteSight #fintech #digitalfinance #digitalbank #profitability #payments #lending #Monzo

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Following our news that Cashflows has enabled Mastercard’s Click to Pay, our Chief Growth Officer, Paul Clarke appeared on 11:FS Fintech Insider’s weekly news podcast to discuss what this means for UK consumers, as well as a host of other news items in the world of fintech. Listen to the full podcast here: #ClicktoPay #Mastercard #UK #Payments #Fintech

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Zopa Bank & ClearScore-Led Campaign Pledge2025.org Surpasses 15 Million Actions Milestone in Bid to Build the Financial Resilience of UK Consumers Jaidev Janardana, CEO of Zopa Bank said: “We’re thrilled to see the 2025 Fintech Pledge continue to progress so rapidly. While our economy is stabilising and inflation has largely abated, there is no room for complacency. The fintech ecosystem can jump-start the UK economy, helping consumers bounce-back by embracing new behaviours that support their long term financial well-being.” https://lnkd.in/eR7Y2uEZ Wilfred Collins Lucas Germanos Clare Gambardella Peter Donlon Michael Woodburn Vicky Saliari Justin Basini Andy Sleigh Michael Woodburn #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Very interesting article in the Financial Times which sums the situation up perfectly. The new entrants have moved the market on with the services delivered, however despite being used for their "free" or innovative services, users still remain wedded to the incumbents. https://lnkd.in/eR3kaGXV

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UK Savers Expect to Be Pensioners for Twenty-Seven Years – But Over 40% Know They’re Not Saving Enough Claire Exley head of financial advice and guidance at Nutmeg, a J.P. Morgan company, said: “We are fast adopting healthier lifestyle choices but this focus on longevity seldom extends to financial planning. The reality is more of us will be living longer, more active lifestyles that defy common stereotypes about post-working life. Inertia around retirement being too far in the future or a misconception that contribution shortfalls can be made up for on future higher salaries are a factor, but compound growth in the market can be difficult to recoup and smart planning should amplify savings.” https://lnkd.in/e6iRs58T Matt Gatrell Jennifer Dalley Michael P. Edmund Cohen, CFA Tony Waters Sam Tomlinson Dimitrios Kofodimos #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Goodbye "New Payments Architecture", hello "UK agile and flexible (retail) payments infrastructure". Lots to be excited about here but is the UK missing an opportunity to unify where possible, retail payments with wholesale payments? In so many discussions on Institutional/Corporate/Wholesale banking I lament that the Open Banking APIs on a retail account are not present on a corporate account. The paper signposts that Wholesale banking will be similarly considered through Bank of England initiatives but seems too RTGS focused. Important but not enough. I welcome the adoption of ISO20022, in many ways a "no brainer" but the finance industry has been far too slow to adopt this standard. This paper is a step in the right direction, but to fully realise its potential, the UK must bridge the gaps between retail and wholesale payments, accelerate ISO 20022 adoption, and embrace a more unified approach to payment system modernisation. https://lnkd.in/eQDi8i6e

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What does PSD3 mean for cross-border payments? An excellent deep-dive report by FXC Intelligence's Joe Baker on this critical topic for the sector: The report will get you up to speed fast on the topic and covers: - What is PSD3 and its benefits - PSD3’s impact on open banking - How this may level the playing field between banks and non-banks - What have been the main EU payments initiatives to date - What the European cross-border payments landscape looks like - What are cross-border payments companies doing to prepare for PSD3 #fxcintelligence #payments #fintech #financialservices #regulation #banking #openbanking https://lnkd.in/edXUtYpf

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Are capital offerings from payment providers unnecessarily expensive? 23% of merchants we recently surveyed said high cost has led them to decline a loan offer from their payment provider. Why? When capital teams solely their own platform data for underwriting, they have no view of spend, making it hard to determine how much merchants can afford to repay monthly. This gap in visibility increases the probability of default, which providers mitigate by increasing the cost of funding for the merchant. The issue with this approach is that small businesses are particularly cost-sensitive, and numerous lenders compete on price to serve them. Therefore, an uncompetitive rate is one of the leading factors causing merchants to reject a loan offer. One way around this is to invite merchants to digitally share their banking data during application. Using providers like Codat, bank statements can be automatically categorized into spend and income buckets, which enables lenders to construct a cash-based P&L that gives a true view of affordability. More on this in our latest blog on the Codat website.

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Delve into the future of digital wallets with the Payment Systems Regulator and Financial Conduct Authority's joint review, evaluating impacts on consumers, businesses, and market dynamics. Read more: https://lnkd.in/dvCaAChY Toby Parker | Emma Haxell | Paul Barrett FCIM #Digitalwallets #UK #Regulators #PSR #FCA #ApplePay #Googlepay #PayPal #Consumerprotection #Fintech #Digitalpayments #Payment #Systems #Financial #Innovation #Fintech #Regulation #PaymentSystemsRegulatorPaymentSystemsRegulator #FinancialConductAuthorityFinancialConductAuthority

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