U.K.

Product diversification has boosted Revolut's valuation, and will make or break the company as it battles myriad competitors and a challenging geographic expansion.

While the card networks have greatly benefited by the global boom in e-commerce, they are confronted with the corresponding growth in digital advertising. This will increasingly lead them to seek out data-sharing deals like Mastercard's reported arrangement with Google, which could prove vital to the networks' future survival.

Counter to the trend — pioneered by Amazon — of launching cashierless technology in small stores to keep traffic under control, the U.K. supermarket chain Sainsbury’s has launched a trial of cashierless mobile shopping in one of its busy London stores, Clapham North Station Local.

A credit union in Swansea, Wales, has collapsed and will cost the UK's Financial Services Compensation Scheme nearly $647,000 to reimburse members' insured funds.

The DirectRemit service will enable the large British population in the UAE to send funds to family members' Lloyds Bank accounts in less than 60 seconds and to other U.K.-based banks within an hour.

A letter supposedly sent to U.K. bank customers warns that Barclays debit cards could explode. The letter then urges recipients to mail their cards, along with their PIN codes, to an address in Bangalore. But is this really happening?

Remitly’s moves are clearly in response to the growing competitive pressure being placed in a key U.S. outbound corridor.

The best thing a banker can do today is regard the U.K. as a real-world fintech laboratory, track developments closely and seek opportunities to capitalize on change, writes Naomi Bowman, managing director for Berkeley Research Group in London.

A more open approach to banking will bring major changes, with quality data on banking services and IT security now becoming a significant factor for consumers in selecting a provider.

Our phones are rapidly becoming a massive single point of failure in our digital lives.