FCA calls glossy fintech advertising campaign a ‘scam’

November 19, 2020

@peter_IFAMAG reads Twitter so you don’t have to.

The UK and Canada edge closer to a trade deal. Meanwhile, FCA issue warning about challenger bank Lanister, following a glossy social media add campaign.

First, South East Asian Fintech see explosion over COVID period.

Fintech Sees Strong Growth in South East Asia as COVID-19 Skyrockets Digital Adoption https://t.co/vqaxXMaPP0 @linkaja @TransferWise @remitly @WorldRemit @BainAlerts @Temasek @Google #fintech #covid #remittance #roboadvisor #ridehailing #Asia #ewallet pic.twitter.com/XQ07ir3vIL

— Fintech Singapore (@FintechSIN) November 19, 2020

John Guidi shares a scathing tweet on the British Banking Resolution Service.

The BBRS as set up is not fair not honest not transparent

I am glad the opinion of an independent observer can see through the failure inherent in this process

BBRS a scheme set up by bankers for the benefit of banks https://t.co/LezYlGXCKR pic.twitter.com/tjGHyQnB8E

— CYBG Virgin Money Victim (@CYBGHungrStrike) November 18, 2020

FCA warn Fintech challenger bank after glossy advertising campaign.

The FCA just issued a big ass warning calling Lanistar a scam. It’s official https://t.co/3MafWoos14 https://t.co/jNnQiPYXuR

— Isabel Woodford (@i_woodford) November 18, 2020

Lanister, ‘the world’s most secure bank card,’ has yet to receive FCA authorisation.

Hyped fintech Lanistar, which promotes the "world's most secure bank card" via Instagram influencers, may have a blue unicorn in its office but it doesn't have the authorisation it needs to operate from the City regulator, which has issued a scam warning: https://t.co/CNDEYKa7WY pic.twitter.com/NeCpotiZCG

— James Hurley (@jameshurley) November 18, 2020

UK and Canada edge closer to a trade deal.

Maple syrup for all! The UK and Canada are ‘on the brink’ of agreeing a trade deal

It should replace the existing deal the UK had through its EU membership -> https://t.co/xFT0jnbqx1 #UKCanada #CanadaUK #Trade #TradeDeal #FreeTrade #GlobalBritain #brexit pic.twitter.com/Tstg9lPhnr

— City A.M. (@CityAM) November 19, 2020

And finally, Will Robins covers ABI’s call for an overhaul of financial guidance and advice.

I've written a longish piece on the ABI's calls today to overhaul guidance and advice. Ongoing advice fees have made firms more sustainable (good for clients) and calmed the chase for fresh sales. But there need to be more options. https://t.co/2bwNhQBZcV

— Will Robins (@Will_Robins) November 18, 2020