The FinTech Five – Top Stories in Welsh Fintech – 2nd of April 2024

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Welcome to Fintech Five, a fortnightly look at the best articles, news and insights from FinTech Wales members and the Financial Services industry across the UK.

Eamon Tuhami Joins Finalrentals Board as Chairman, the internationally acclaimed car rental brand program, is thrilled to announce the appointment of Eamon Tuhami to its board as Chairman.

For over 20 years, Eamon has been assisting in the creation and investment of new tech ventures. He enjoys the energy and excitement of launching new initiatives, both in the UK and internationally. This enthusiasm extends from established businesses to startups and his own projects. He operates Hwyl.Ventures, his own venture-building consultancy, sits on various boards, represents Wales and the UK globally for the UK government, and supports local ecosystem initiatives.

Eamon Tuhami said: “It’s a pleasure to officially come aboard. Amazing to see the Finalrentals has made since landing in Cardiff especially over the past twelve months. Super excited about the vision and growth potential of the business.”

Read more on this story

PeppercornAI and ICE InsurTech Announce Partnership

Insurtech PeppercornAI announced their first strategic partnership with ICE InsureTech that will support rapid digital transformation in the insurance industry.

The partnership will enable providers to leverage PeppercornAI’s conversational AI platform Pipr, whilst also benefiting from seamless integration through ICE’s Open Business APIs and modern infrastructure.

Pipr, which launched last year to support the motor industry amid rising cost pressures, uses conversational AI to drive leaner operational costs, better protect risk and deliver a better customer experience for buying and managing insurance policies. By leveraging ICE’s multi-channel API platform ICE Policy, providers will also be able to benefit from speed and ease of integration, including access to distribution channels, merchant services and templated document generation.

Read more on this story at Fintech Wales appoints industry heavyweight

Price comparison giant Group has appointed a banking and finance sector heavyweight as chair designate of the board of directors. Jonathan Bewes joins the listed group as an independent non-executive director and chair designate, with effect from 1 July 2024.

He brings a wealth of experience in the banking and finance sector, having acted as adviser to the boards of many companies and held prominent leadership positions in various organisations, most recently at Standard Chartered Bank.

Peter Duffy, chief executive of Moneysupermarket Group, said: “Jonathan is a respected leader in the banking and finance sector, and we are delighted to welcome him to Moneysupermarket Group. His extensive experience and strategic acumen will be invaluable as we continue to drive growth and enhance shareholder value.”

Read more on this story at Insider Media

Why Fintech Startups Are Rushing to the United Kingdom

The UK’s fintech success story includes Monzo, Revolut, Starling, and Funding Circle, with over $40 billion invested in the past decade. London’s financial prowess and supportive ecosystem make it a top destination for fintech startups, while opportunities extend beyond London to cities like Manchester, Edinburgh, and Cardiff. This environment has attracted international startups like Net Purpose and Shares.

Few countries can boast of having had such success in the field of fintech. Indeed, the UK is home to Monzo, Revolut, Starling and Funding Circle, to name just a few. Over the past decade, Fintech innovation has found a natural home in the UK, leveraging the UK’s robust financial services sector. Over the past six years, 30% of total UK venture capital investment has gone into Fintech – more than $40 billion in total. The sector currently accounts for a third of UK unicorns .

Read more on Born2Invest

High-Capacity Gateway Into Wales Opens for Business

Just six months after announcing plans for a new high-capacity digital route into south Wales and Ogi – the country’s leading alternative telco – has now opened the network for business.

Through a 25-year agreement with the Welsh Government the full fibre investor has built a network of dark fibre and microducts, creating a new diverse route along the southeast section of the M4 corridor.

Mapping the public-owned trunk road network, the new 70km route offers a mix of wholesale products, boosting capacity and resilience for the likes of carriers, hyper-scalers, datacentres and Internet Service Providers (ISPs) looking to expand in and beyond the region.

Read more on this story at FinTech Wales

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.