FinTech Five – August 20th 2024 – The Best Stories from Welsh FinTech

A fortnightly look at the best articles, news, and insights from FinTech Wales members and the Financial Services industry across the UK.

FinTech Wales Supports UK Government’s Initiative to Protect Port Talbot Steel Supply Chain and Workers

FinTech Wales is actively supporting the UK Government’s new initiative aimed at protecting the steel supply chain and safeguarding jobs at the Port Talbot steelworks. This strategic collaboration highlights the importance of the steel industry in Wales and the broader UK economy. By working closely with the government, FinTech Wales aims to leverage financial technology solutions to stabilize and enhance the supply chain, ensuring the sustainability of the industry. The initiative reflects a broader commitment to supporting traditional industries through innovation and technological advancement.

Read the full story here on the FinTech Wales website.

Howden Acquires ActiveQuote in Strategic Expansion Move

Global insurance broker Howden has announced the acquisition of ActiveQuote, a Cardiff-based health and protection insurance comparison site. This acquisition marks a significant step in Howden’s expansion strategy, enhancing its capabilities in the digital insurance space. ActiveQuote, known for its advanced comparison tools and customer-centric approach, will bring valuable expertise and technology to Howden’s growing portfolio. The deal underscores the ongoing trend of consolidation in the insurance industry, particularly in the fintech sector, where digital innovation is driving growth and competition.

Read the full story here on the FinTech Wales website.

Admiral Group Rewards Employees with Share Awards Amid Strong H1 2024 Performance

Admiral Group, one of the UK’s leading insurance companies, has announced that it will reward its employees with share awards following a strong performance in the first half of 2024. The decision to distribute shares reflects Admiral’s commitment to recognizing the hard work and dedication of its workforce. The company’s robust financial performance highlights its resilience and adaptability in a competitive market, driven by innovative products and customer-focused strategies. These share awards are part of Admiral’s broader effort to foster a culture of ownership and shared success among its employees.

Read the full story here on the FinTech Wales website.

The Royal Mint Unveils Sustainable Gold Recovery Factory in South Wales

The Royal Mint has officially opened its cutting-edge sustainable gold recovery factory in South Wales, a groundbreaking initiative that positions Wales at the forefront of precious metal recycling. This state-of-the-art facility is designed to extract gold from electronic waste, addressing both environmental concerns and the growing demand for sustainable practices in the precious metals industry. The new factory aligns with the Royal Mint’s commitment to sustainability and innovation, demonstrating how traditional institutions can evolve to meet modern challenges.

Read the full story here on the FinTech Wales website.

Former Xero UK CEO Appointed to Mazuma Board of Directors

Mazuma, a pioneering online accounting firm based in Wales, has announced the appointment of former Xero UK CEO to its Board of Directors. This strategic appointment brings a wealth of experience to Mazuma as it continues to expand its digital accounting services. With a proven track record in scaling fintech businesses, the new board member is expected to play a crucial role in guiding Mazuma through its next phase of growth. This move reflects Mazuma’s commitment to strengthening its leadership team and enhancing its offerings in the competitive fintech landscape.

Read the full story here on the FinTech Wales website.

Cardiff Council Partners with Net Zero Specialist on 150-Home Retrofit Project

Cardiff Council has appointed net zero specialist, Sero, on a project to retrofit 153 ‘hard to heat’ properties in the Rumney area of the city to enhance energy efficiency and reduce resident energy bills. The multi-million-pound project will see improvements to external wall insulation and ventilation at council and privately-owned British Iron and Steel Federation (BISF) homes.

Sero will serve as the retrofit co-ordinator, ensuring the project meets PAS 2035 retrofit standards and providing end-to-end oversight, including Improvement Options Evaluation and Medium-Term Improvement Plans (MTIPs) for each home. The improvements are funded by Cardiff Council’s Housing Revenue Account and contributions from Welsh Government, targeting properties identified as ‘hard to heat’ to help lift residents out of fuel poverty.

James Williams, co-founder and CEO of Sero, expressed his commitment to ensuring the highest standards of retrofit work and leveraging their experience from previous large-scale projects to benefit the local community.

Read the full story here on the Green Economy Wales Website.

Wealthify Launches Next Generation Platform to Support High Growth Ambitions

Savings and investment service Wealthify has launched a new proprietary platform that doubles its in-house capabilities, enabling the company to scale and grow its business. The new platform allows Wealthify to take on most back-office functions internally, speeding up payments and trading while streamlining the customer experience.

This development follows the launch of Wealthify’s Instant Access Savings Account, powered by ClearBank, in February, which marked the company’s expansion into the savings sector. Since its acquisition by Aviva in 2020, Wealthify has seen significant growth, increasing its value tenfold and creating numerous jobs in the local community.

Michael Ashford, founding member and Chief Technology Officer at Wealthify, highlighted the platform’s cutting-edge technology as a game-changer for the savings and investment industry, positioning Wealthify for further growth.

Read the full story here on the Future Finance Website.

Pintech.io Launches Platform to Revolutionize Property Management

Mark Watts, founder of Pintech.io, has announced the official launch of the Pintech.io platform, designed to simplify and optimize property management for landlords. The platform offers a range of features including compliance tracking, real-time financial performance insights, and the ability to book and pay for essential services like EPCs and gas certificates directly through the platform.

Pintech.io’s vision includes the future addition of embedded insurance solutions, mortgage services, and more, aiming to make property investing as seamless and secure as possible. The platform is currently seeking a select group of early adopters to help shape the future of property management alongside Pintech.io.

Mark Watts encourages landlords to join the revolution and take advantage of this innovative new tool to enhance their property management experience.

Read the full story here on the FinTech Wales website.

AperiData Teams Up with Saascoms to Revolutionize Credit and Collections

AperiData, a FinTech Wales member, has announced a partnership with Saascoms to develop a revolutionary software solution for the credit and collections industry. This new tool is designed to empower consumers to manage their debt and repayments more effectively, aligning with AperiData’s commitment to creating fair and ethical financial opportunities through the power of Open Banking.

The collaboration underscores AperiData’s dedication to improving customer outcomes and enabling businesses to support their customers better. The joint solution has been entered into the Credit & Collections Technology Awards, highlighting its innovative approach to financial management.

More details will be revealed soon, but this partnership already signals a significant advancement in the credit and collections space, with AperiData and Saascoms leading the charge in customer-centric financial solutions.

Read the full story here on LinkedIn.

Until Next Time

This concludes this week’s edition of FinTech Five. Remember to join us every two weeks for the latest news highlights from our FinTech Wales membership and wider FinTech ecosystem.