SHIFT Community Update #41
TSB partnerships, Acquisitions and JPM Fintech Programme
Hey SHIFT Community, here’s your update on all things SHIFT.
PSG clinched a historic win at the Champions League final with a 5-0 victory.
After years of heavy spending on the biggest players in the game (Messi, Neymar Jr and Mbappe), they are now creating history with a team of youthful academy players.
This mirrors the journey of many fintechs—especially neobanks and BNPL players—that are now shifting from growth at all costs to showing sustainable profits.
Member Updates
🌐Three for Three! SHIFT members announced as winners of TSB Labs. Well done to Credit Canary, Sikoia and AperiData.
🤝Rnwl acquired by Go Compare! Congratulations to Goncalo and the team, their insurance solution will now be rolled out to millions across the UK.
🖥️Doshi partners with CreditSpring, providing a gamified financial learning solution, powered to help CreditSpring members build financial skills.
🧑🤝🧑Lloyds collaborates with Lumio to make managing finances easier for couples. Lumio will give coupled-up customers a way to share, track and split finances all in one place.
If you have news that you want to be included here then make sure to post it in the #news-and-views channel on Slack or tag Kyle in your posts!
Partner Updates
⏩ The JPMorganChase Fintech Forward Programme is a fantastic opportunity for ambitious founders to realise their business vision through the power of JPMorganChase’s network. Applications are open until 27th June 2025. Applications will be reviewed on a rolling basis so apply early
Resource Recommendation
Open Banking Across Europe 2025
This new Yapily blog post titled "Open Banking in Europe: A 2025 Market Overview" provides an in-depth analysis of the current state and future prospects of open banking across Europe.
Regulatory Evolution: Open banking in Europe began with the EU's Payment Services Directive (PSD1) in 2007, aiming to simplify cross-border transactions and enhance electronic payment competition. This was succeeded by PSD2 in 2013, mandating banks to provide authorised third-party providers access to customer account information with consent. The UK, in parallel, developed its own Open Banking Standards to promote secure data sharing and customer control over financial data.
Market Maturity: The UK leads in open banking adoption with Germany following. For example, the open banking API calls of France, Germany, Italy and Spain combined were estimated at 6.4 billion in 2023, whereas the UK had 14 billion at that time.
Future Outlook: The blog anticipates continued growth in open banking, (UK open banking transactions can expect to grow 500% between 2023 and 2027, reaching USD 82 billion) driven by regulatory advancements and increased collaboration between fintechs and traditional banks.
If there are any resources you find enjoyable, useful, or interesting then let me know :)