Jon C Davies

UK-based asset finance specialist, Alfa Financial Software, has released a trading statement highlighting strong revenue growth and a healthy pipeline. The update for the quarter ended 30 September 2024 revealed that Q3 revenue grew by 14% year-on-year to £28m (up 16% on a constant currency basis) with subscription revenue climbing 19%. TCV was up 56% at £205m representing a record high for Alfa.

UK-based investment technology startup, Vega, has secured investment worth $20m for its innovative “Alternatives-as-a-Service” proposition. The Series A funding round was led by two backers, Apollo and Motive as Vega looks to scale its fledgling operations.

Capgemini has published its World Cloud Report for Financial Services 2025, highlighting a clear divide between how traditional financial services providers view their cloud technology investments compared to the more innovative and forward-looking institutions. The analysis draws on data from a variety of recent primary research conducted by Capgemini and provides insights relating to 13 countries including the UK. The sample included leaders from 600 Financial Services firms across Banking and Insurance, alongside 120 senior FinTech and InsurTech executives.

AIM-listed billing and CRM provider, Cerillion, has published its latest full-year financials highlighting another year of double-digit growth. The financials for the year ended 30 September 2024 reveal revenue up 12% to £43.8m and statutory profit up 22% to £19.7m.

A broad-based technology refresh is underway across UK Financial Markets with much of the focus of investment having shifted from "running the business" to "changing the business". This is especially true within capital markets where AI, machine learning, proprietary algorithms, and automation are all increasingly influencing IT decision making.

Banking technology specialist, Temenos, has announced a new collaboration with NVIDIA that will see the Swiss vendor deploy a range of new, vertical specific, generative AI (GenAI) solutions designed to help banks transform data into real-time insights. Temenos GenAI solutions will run on NVIDIA’s verified deployment architecture, enabling them to be distributed and deployed by NVIDIA’s partner network. The new Temenos solutions will utilise NVIDIA AI software and will be available to banks and financial services providers on premise via the NVIDIA platform, enabling institutions to securely process unstructured data on site. Temenos will use NVIDIA NIM microservices, part of the NVIDIA AI Enterprise software platform, providing banks with the flexibility to quickly scale their AI capabilities.

New research published by PwC has highlighted that, many within the wealth management sector believe that AI adoption will help to improve margins, and that this trend will also drive further consolidation amongst firms.

UK-headquartered financial services technology firm, Finastra has fallen victim to a major data breach with the cyber-attack apparently involving the theft of large volumes of confidential bank information from its internal file transfer platform.

DXC Technology has announced an extended strategic partnership with ServiceNow, building on a fifteen year-long collaboration between the two companies. As a result of the new agreement the two companies have formed a Centre of Excellence (CoE), combining DXC’s industry and implementation capabilities with ServiceNow’s GenAI solutions.

HSBC UK Bank plc has recruited Emily Turner, from Citi to be the new CEO of its Innovation unit ( HSBC Innovation Banking UK ).