The FinTech Secret Transforming UK Money Habits.

What we’ll cover today:

💰 Why Everyone’s Switching To These Apps.

😲 I Was Blown Away By How The Bankers Were So Open.

🏢 Franchises Aren’t Glamorous, But They’re Insanely Profitable.

🔗 The Event Roundup.

Why Everyone’s Switching To These Apps.

Over 1 million Brits turned to FinTech apps in 2024.

That’s 1 in 10 adults now managing their finances digitally.

Top-performing apps in 2024:

• Plum: 1.6M lifetime downloads, 318,000 new downloads this year.

• Moneybox: 1.6M lifetime downloads, 264,000 new downloads.

• Snoop: 762,000 lifetime downloads, 157,000 new downloads.

• Revolut: 14M lifetime downloads, leading banking app adoption.

Why the surge?

• The cost-of-living crisis drove initial adoption.

• Bold designs and user-friendly features enhance appeal.

• Small tweaks like vibrant icons boosted conversions by 12%.

Traditional banks are struggling to match this innovation.

Here’s the whole article

1. I Was Blown Away By How The Bankers Were So Open.

   

   Source: @sytaylor

This is a podcast clip by Simon Taylor.

Simon Taylor shares about his experience at Fintech Meetup, saying that the event was filled with bankers and members of financial institutions who brought "genuine curiosity" to their meetings and conversations.

“I Was Blown Away By How The Bankers Were So Open.” -Simon included.

Here's The Clip

2. Franchises Aren’t Glamorous, But They’re Insanely Profitable.

   

   Source: @AlexH_Johnson (Twitter)

This article by Alex Johnson explores how FinTech reshapes franchise businesses by simplifying payments, improving financial decisions through data, and providing better financing options. 

As one expert notes, “Franchise owners no longer have to rely on outdated systems.” 

Another highlight, “FinTech is bridging the gap between ambition and access to capital.” 

These tools are driving growth and innovation in a traditional industry.

Here's The Whole Article

1. New developments in fintech laws.

The article explores recent FinTech regulatory updates in China, India, and Taiwan, highlighting tightened rules for data protection, digital payments, and cross-border transactions. It underscores the growing focus on balancing innovation with robust legal compliance across Asia.

2. Beacon unveils new digital wallet offering built for immigrants to Canada.

Toronto-based fintech start-up Beacon is launching Canada’s first dedicated wallet for incoming international residents in January 2025.

Founded in 2023, Beacon’s flagship MyBeacon App is designed to make an “immigrant’s first 100 days in Canada much less stressful” by delivering personalised digital guidance and pre-arrival checklists.

3. German fintech unicorn N26 just had its first profitable quarter.

Ten years after pitching onstage at TechCrunch Disrupt in London, fintech N26 has reported its first-ever quarterly (pretax) profit. 

The challenger bank, with millions of customers across Europe, generated a net operating income of €2.8 million during the third quarter of 2024 (or $2.9 million at current exchange rates).