The Future of FinTech in a Post-Brexit World.

FinTech Integration

Are FinTech companies disrupting the way established financial institutions operate today? In an age of rapid advances in technology coupled with innovation across many industries, FinTech companies have also increased the rate of change in terms of processes, technology and the levels of customer service provided. For example, there are many “challenger banks” which have entered the UK market but they are often a secondary banking provider to customers offering alternative mobile technology like Starling or Monzo. At TransferMate we believe partnerships are the way forward, working with banks around…

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Brexit Fallout Spells Estimated £38 billion loss for the British Financial Industry

Brexit Fallout Spells Estimated £38 billion loss for the British Financial Industry

The British Financial Industry could lose up to £38 billion (43 billion euro) in revenue if the UK undergo a so-called “Hard Brexit” restricting access to the European single market. This will result in the UK being subject to both tariffs and non-tariff barriers. A report by Oliver Wyman ordered by the industry lobby group TheCityUK, summaries two different outcomes following a “Hard Brexit”. One outcome would see the UK cut all ties with the single market. If this were to happen, revenue may fall by £20 billion causing a…

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