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UK Fintech News Roundup: The Latest Stories 20/07

Every Wednesday, we delve into the latest fintech updates from across the UK. This week, we look at Revolut’s new launch in partnership with the Sidemen, as well as a new payment solution for a UK supermarket.

Revolut collab with the Sidemen

Revolut x Sidemen_Black cardFinancial app Revolut has partnered with British YouTube group the Sidemen to launch two new limited edition cards.

Alongside the regular benefits of Revolut’s cards, the Sidemen cards offer 10 per cent cashback on all Sidemen-owned brands, including XIX Vodka, Sidemen Clothing and Sides restaurants. The card will also give access to three months of free access to the membership community Side+.

The launch is joined by the ‘defy expectations’ campaign; looking to appeal to the 130 million followers collectively amassed by the seven Sidemen members.

Shirin Krall, Revolut’s global head of retail marketing, said: “We’re excited to announce our partnership with the Sidemen today. Having followed the Sidemen for some time, we believe that there is a lot of resonance between the Revolut and Sidemen brands and we’re excited to see them come together for this ‘defy expectations’ campaign.”

Revolut also recently celebrated its seventh anniversary, revealing it has passed 20 million retail customers worldwide, and is now processing over 250 million transactions a month.

Payment services provider partners with UK supermarket

Morrisons supermarket London

Payment services provider Worldline has refreshed its partnership with UK retailer Morrisons to provide its new PIN pad, the Lane/3000 PIN Pad, to almost 500 stores in the UK.

The new PIN pads are fully compliant with PCI regulations to guarantee maximum security for the millions of multi-lane, self checkout and restaurant transactions processed each day. It also offers much faster transaction speeds than its previous offerings, to ensure Morrisons’ customers have a fast and simple checkout experience.

Lee Jones, managing director northern Europe, merchant services at Worldline, said: “Morrisons is a much-loved household name across the UK, and we are delighted to announce the extension of our partnership which will ensure speedy and reliable payments for all Morrisons customers. We are very excited to see the new Lane/3000 being rolled-out across stores, enabling Morrisons and its customers to benefit from a fast, seamless and secure solution.”

Credit management platform launches to tackle SME struggles

Online AccountingScottish startup Know-it has officially launched its beta cloud-based credit management platform.

Know-it looks to tackle the increasing number of late payments in the UK with the new platform. It will do this by enabling businesses to automate and simplify the way they manage credit risk and credit control process.

Lynne Darcey Quigley, CE0 and founder of Know-it, explained: “By removing the need to access and subscribe to multiple different platforms, our cloud-based platform streamlines the credit control process so you can credit check and monitor, chase for payment, collect overdue unpaid invoices, and more all from one easy to use platform, levelling the playing field for SMEs.”

Atom Bank showcases year of progress

Online Banking on PhoneUK-based challenger bank Atom Bank released its full-year results; showcasing substantial financial progress throughout the last financial year.

Atom Bank announced an operating profit in all four sectors in the last financial year, while its income grew by 200 per cent. Atom cited a number of factors contributing to its success; one of which being its introduction of a four-day working week with no loss of pay in November 2021.

As well as these improvements, the company also saw a more positive response from customer feedback than in the previous year. Atom Bank saw an increase in both its Trustpilot and Net Promoter scores.

Mark Mullen, chief executive officer at Atom, said: “Atom continues to offer customers a better deal, with exceptional service, because that, we feel, is the right thing to do. We are here to make the experience of borrowing and saving simpler, faster and better value than anyone else. In the last 12 months we have made remarkable progress on our journey towards realising that ambition”.

 

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