Non-bank competitors

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/Non-bank competitors

Square processing $1m per day; Apple boasts payment stats

Jack Dorsey, CEO of Square, has taken to Twitter to announce that the mobile payments start-up is now processing more than $1 million a day.

/Non-bank competitors

Wonga secures £73 million funding

London-based online credit outfit Wonga has completed a £73 million funding round led by US venture capitalist Oak Investment Partners.

/Non-bank competitors

M&S to introduce instore banking - Bloomberg

UK high street chain Marks & Spencer is considering opening banks inside 55 stores through a tie up with HSBC, according to Bloomberg.

/Non-bank competitors

MiiCard wins out as start-ups vie for VC attention in Sibos' Dragon's Den

Twelve technology start-ups are competing for venture capitalists' blessing at a session on the final day of Sibos, the annual event run by financial messaging body Swift.

/Non-bank competitors

Sibos Innotribe Labs take centre stage

A business that aims to create a complete view of a bank's financial health by using recycled financial messages is the favourite to win the Innotribe Lab pitching contest held at Sibos, the annual conference held by financial messaging body Swift.

/Non-bank competitors

Tesco mortgage plans delayed by tougher FSA checks

Tesco's ambition to build a full service banking operation has suffered a setback after the Financial Services Authority delayed giving the supermarket clearance to offer mortgages, according to the Observer.

/Non-bank competitors

General Electric plans UK online bank - report

US conglomerate General Electric is planning to launch an online bank, becoming the latest player to take on Britain's high street financial institutions, according to the Sunday Times.

/Non-bank competitors

New banks face lukewarm reception from apathetic UK consumers

New entrants to the UK banking market will have a fight on their hands to woo customers away from the security of their existing banks, with just 38% of consumers prepared to consider switching their current account to a brand new bank, according to research by financial comparison site uSwitch.

/Non-bank competitors

Siemens to set up own bank as credit crisis rumbles on

Giant German industrial conglomerate Siemens has applied for a banking licence in an effort to reduce its dependence on troubled eurozone banks for financing.

/Non-bank competitors

New players beat traditional banks in public trust stakes

With traditional high street banks losing public confidence in the wake of the financial crisis, online provider first direct and P2P lender Zopa have taken advantage to emerge as the industry's most trusted players, according to research from Moneywise magazine.

/Non-bank competitors

Metro Bank to open doors next month

Metro Bank, the first new high street player to enter the UK market for 100 years, will open its doors to customers in six weeks.

/Non-bank competitors

Walmart makes financial services push

Retail giant Walmart is ramping up its assault on the financial services sector, acquiring a minor stake in US pre-paid outfit Green Dot and launching its first credit card in Canada on the back of a recently awarded banking license in the country.

/Non-bank competitors

UK banks in better shape to repel new entrants than before credit crunch - analysts

The slew of new technologically savvy outfits hoping to break into the British banking market face a daunting task, with the six big lenders actually emerging from the credit crunch stronger than ever, according to the banks team at Citi.

/Non-bank competitors

UK government outlines plans for Post Office 'people's bank'

The UK government has published plans to turn the Post Office and its 11,500-strong branch network into a "people's bank" offering a range of financial services.

/Non-bank competitors

Virgin buys regional bank for high street push

Virgin Money has taken a decisive step into the UK retail banking market after agreeing to buy the small regional private bank Church House Trust for £12.3 million.

/Non-bank competitors

Post Office bank plan unveiled

The UK government has launched a public consultation on proposals to offer more financial products and services through the Post Office network.

/Non-bank competitors

Tesco Bank selects Fiserv to provide core technology platform

Aspiring supermarket bank Tesco has selected Fiserv to provide the core technology platform for its push into the UK's retail financial services arena.

/Non-bank competitors

Argos moves into financial price comparison business

UK retailer Argos is moving into the financial services price comparison market with the launch of a new Website, Argos Compare.

/Non-bank competitors

Supermarket rebrands personal finance unit Tesco Bank; chooses tech platforms

Tesco has changed the name of its personal finance unit to Tesco Bank, reflecting the UK supermarket's determination to take on established high street players. It has also selected the core technology platforms for the division.

/Non-bank competitors

Nokia moves into mobile financial services

The world's biggest handset manufacturer Nokia has teamed with Obopay to launch a mobile financial management and payments service targeted at unbanked people in developing countries.