Sector Updates

Despite the rising importance of cybersecurity, 70% of UK businesses have been the victim of a successful network security attack over the past year, according to new data commissioned by Barracuda Networks.

The REvil ransomware gang – also known as Sodinokibi – has fully returned following a period in the darkness since July this year.

The US Federal Trade Commission (FTC) has warned that extortion scammers are targeting the LGBTQ+ community through dating apps such as Feeld and Grindr.

Digital investing platform Peaks has reportedly raised €5m in a funding round, which will bolster its presence in the Netherlands and Germany.

Missouri-based underwriting platform iCover has raised an undisclosed amount of seed funding from a number of unnamed backers.

X-Margin, which offers credit scoring and risk monitoring services to financial institutions, has secured $8m in its Series A funding round.

A recent Lloyds Bank survey has found that banks believe London will maintain its leading global financial center status despite the regulatory uncertainty posed by Brexit.

Zopa has found 4 in 10 UK consumers would use open banking to apply for credit if it boosted the chance of getting an offer or gave them access to better rates than banks.

Integrated Finance, a FinTech infrastructure platform, has netted ?2m in its seed funding round, which will bolster its platform development.

PassFort, which automates financial crime and compliance processes, has closed its Series A round on $16.2m.