Commission-free stock trading app Robinhood has been authorised by the Financial Conduct Authority (FCA) as a broker in the UK.
The US FinTech has yet to give a date for its formal launch, but is currently hiring for several roles in London across compliance, operations, user research and marketing.
It has also appointed Wander Rutgers to lead the UK business, bringing his experience from senior roles at savings app Plum and cross-border payments unicorn TransferWise.
“Today marks the beginning of a new chapter for Robinhood, and we’re excited to take the first important step towards bringing our investing platform to customers in the UK,” he commented.
The FCA approval follows UK digital challenger bank Revolut announcing plans last week to launch its own commission-free stock trading service across Europe, starting with a gradual roll-out to a select group of its Metal card customers.
Last month, Robinhood announced a $323 million Series E financing round, valuing the company at a $7.6 billion, led by DST Global, with participation from Ribbit Capital, NEA, Sequoia and Thrive Capital.
Latest News
-
UBS appoints chief AI officer to boost AI strategy
-
HSBC rolls out acquiring platform
-
Frasers Group uses ACP to complete direct purchases within genAI chatbots
-
BBVA’s bid for Sabadell collapses as chairman Carlos Torres vows to stay
-
Deutsche Bank, ING and Santander join Mastercard cyber defence exercise
-
Santander to merge Openbank and Santander Consumer Finance
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories