Onfido is a software company that uses artificial intelligence to run background checks for businesses. The recent introduction of the ‘Corporate Solutions’ lending option prompted MarketInvoice to change its name to MarketFinance in November 2019 to reflect the wider lending choices that are now on offer. By unbundling financial services, these fintech startups and scaleups are providing more efficient and streamlined services, and posing a very real threat to traditional banking, payment, and lending services. cssClass: 'book-demo-popup', Most small businesses tend to use these loans for bridging short-term cash flow gaps and investing in stock opportunities. Rapyd collects and disburses payments in over 100 countries, accepting over 900 local payment types such as bank transfers, local cards, e-wallets and cash. Its software also allows users to create and analyse sales reports to help businesses generate overviews and insights of their performance. By unbundling financial services, these fintech. Funds raised: £61mFounded: September 2014Location: LondonOther triggers met: Scaleup, High-growth list, Accelerator attendance, Debt fundraising. submitButtonClass: 'text-black active-color-yellow border-transparent long-100', has developed a mobile app that allows those who might typically struggle to open a bank account—due to lack of credit history, proof of address or guaranteed regular income—to do so quickly and easily. Curve allows users to connect their accounts to one smart card, which is linked to a smart app. TransferWise utilises smart technology and lower costs to offer its users the real exchange rate, rather than an inflated one, which is often charged by traditional banks. Borrowers are able to easily apply for a loan through Zopa online. Prodigy Finance works with over 500 schools globally, spanning across North America, Europe and Asia. Currencycloud has developed a global cloud-based platform which facilitates B2B cross-border payments.The company has a variety of customers, including banks, brokers and emerging fintechs, all of which can embed the Currencycloud platform into their services, or use it as a base to build on. It grew from around 500 to over 900 employees between 2019 and 2021, with 12 offices across the world. Capital on Tap’s technology aims to streamline the fundraising process, overcoming the long forms, slow response times and rigid underwriting criteria associated with obtaining traditional funding. target: '#book-a-demo-target-3' It currently focuses on those that operate in the UK, Continental Europe and the USA. This category only includes cookies that ensures basic functionalities and security features of the website. Funds raised: £482mFounded: July 2013Location: DurhamOther triggers met: Accelerator attendance,Scale-up, High-growth list, Grant received. It offers businesses faster payment processing, by combining several separate payment technologies into one platform. MarketFinance also offers ‘Invoice Finance’ to help businesses settle their outstanding customer invoices. develops software which aims to improve merchant acquiring for banks by integrating into their current systems, and provides merchants with digital tools and insights into their business. Innovate Finance, an industry body representing UK FinTech, has released investment figures for the global FinTech sector in 2020 that reinforce the UK’s position as a global and European leader. Due to the fast-changing nature of consumer behaviour, cyber security threats, government and industry regulation, and the technologies available, Fintech is one of the most dynamic, and therefore exciting, areas of technology. Since launching, it has lent over £4.6bn, aiding the creation of 16,000 new homes and almost 20,000 new jobs in the UK. Funds raised: £690mFounded: December 2013Location: LondonOther triggers met: Accelerator attendance, High-growth list, Scaleup. ClearBank’s second main function is to offer a core banking platform to FCA or PRA authorised financial institutions. Through GoCardless’ global network, businesses can make payments directly into the bank accounts of customers in over 30 countries worldwide. The documents can then be shared with accountants or synchronised with bookkeeping software, streamlining the accounting process for all parties. It specialises in analysing user data within a network to flag illegal activity, using millions of data points mapped out across the globe to uncover hidden risks and to prevent cyber crime. Molo collects customer details and ID, checks the property, searches through mortgage options, and then makes an offer to successful applicants. Fourthly, Salary Finance offers a salary-linked savings account through its ‘Save’ benefit, with money automatically transferred to the savings account before the salary reaches an employee’s bank account. At the end of the month, the resulting salary, minus any early withdrawals and processing fees, is transferred to the employee’s bank account as normal. ... bringing the total up to more than seven million across Europe and the UK. Allica secured its full banking authorisation in late 2019, and has made over £100m worth of committed loan offers throughout the COVID-19 pandemic. Nutmeg is a lending-as-a-service ( LaaS ) provider, offering digital lending solutions to over 35 countries features. Service through which international postgraduate students can receive loans for studying abroad firm started after Ahmed s... % each month investment opportunity also apply for a loan through Zopa online divide their spending, and! 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