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Independent Panel To Review UK’s FinTech Sector 

PYMNTS

A panel established to grow the United Kingdom’s (UK) financial technology (FinTech) sector plans a review of the industry to identify opportunities for growth, the government announced Tuesday (July 21). The United Kingdom, comprised of England, Scotland, Wales and Northern Ireland, employs 60,000 people in FinTech.

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Things worth reading: 3rd March 2016

Chris Skinner

Things worth reading today include … Switch to digital currency could endanger banks, warns Bank of England deputy 130 bank branch closures in Wales over five years Drown attack: how weakened encryption jeopardizes ‘secure’ sites Start-up fined for cyber defence flaws UK to Start £4.2

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HSBC fined £64m for failures in anti-laundering processes

TheGuardian

fine after UK regulators found that it had allowed customers to make transactions worth millions or even billions of pounds without being checked for money laundering – including on one occasion leaving out the whole of Wales from monitoring.

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NatWest announces plans to close 23 branches in England and Wales

The Paypers

UK-based NatWest has announced its plans to close 23 branches in England and Wales as customer preference shifts to mobile and online banking.

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Today In Payments: COVID Hit UK Hard; Amex Negotiating To Buy SMB Lender Kabbage

PYMNTS

COVID Hits UK Economy Harder Than Other Developed Economies. England, Scotland, Wales and Northern Ireland saw gross domestic product, the value of goods and services, shrink more than 20 percent in the second quarter (Q2). In today’s top news, the impact of the pandemic has hit the U.K.

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Location, location, location? How UK housing preferences shifted during the pandemic

BankUnderground

Yet between March 2020 and December 2021 (‘the pandemic’), housing prices grew in the UK, reaching at the time their highest growth rate in a decade. First, housing prices continued to grow across all UK regions through the pandemic. Martina Fazio and Gary Harper During recessions, and indeed pandemics, housing prices usually fall.

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Consumption in the time of a pandemic: tracking UK consumption in real time

BankUnderground

How large was the resulting consumption fall in the UK? We use an anonymized transaction level dataset provided by Money Dashboard (MDB), a free online personal financial management company operating in the UK. Finally, the pandemic did not have the same effect across all parts of the UK despite the nation-wide lockdown.

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