Jon C Davies

UK-fintech Tembo Money has raised new funding totalling £14m as it looks to further develop its digital savings and mortgage platform. The Series B round was led by Goodwater Capital and supported by a variety of existing investors including Aviva, Ascension and Love Ventures.

UK investment management firm Valu-Trac has selected banking technology specialist, Temenos, to drive the strategic development of its fund administration and transfer agency business. Specifically, Valu-Trac has chosen Temenos Multifonds, the Swiss vendor’s global fund administration platform designed to help asset managers, insurance companies and pension funds achieve increased operational efficiency.

UK digital bank, Zopa, has secured €80m in equity funding. The investment is being provided by A.P. Moller Holding, with support from a number of other investors.

US software vendor, Adobe, has published its latest annual results, highlighting a healthy rise in revenue and gross profit. Revenue for the twelve months ended 29 November 2024 was up by 10.8% at $21.5bn, whilst gross profit rose by 11.9% to reach $19.2bn. Net Income was $5.56bn and was up 2.4%, despite the vendor incurring costs of $2.2bn due to its aborted takeover of San Fransisco-based rival, Figma (see: Adobe forced to abandon Figma deal ), which included a $1bn termination fee paid in Q1. Diluted earnings per share was $12.36.

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UK SITS vendor, Endava, has agreed a new partnership with retail payments specialist, GoCardless. The collaboration will see Endava manage the integration of GoCardless solutions within their enterprise clients as part of large-scale digital transformation projects.

DXC Technology has announced a new partnership with UK-based data security and compliance specialist, Blackout Technologies. The tie-up is designed to help companies effectively control risk and manage their compliance obligations in respect of personal smart devices. Blackout’s technology also helps to improve productivity by optimising device functionality.

As we look forward to 2025 and consider some of the developments and trends expected to come to the fore during the next twelve months, the topic of AI once again looms large over many technology initiatives within UK Financial Services. Meanwhile, as highlighted by TechMarketView's research theme for 2025 of " Sink or Sprint ", UK Financial Services organisations will be working determinedly to shorten the time to value in respect of both their customer interactions and their technology investments.

Bringing you opinionated, authoritative research & analysis on the UK technology scene.

UK cryptocurrency startup, BVNK has successfully raised $50m as it looks to support the growing popularity of stablecoin payments. The Series B funding round was backed by a variety of investors including Haun Ventures and Coinbase Ventures.