Revolut launches commission-free trading, Advicefront's war on paper and more from the Truly Shambolic Bank


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Revolut announces a commission-free trading platform

Revolut has its fingers in lots of pies and now another pastry-encrusted treat has appeared on its dining table. And, as that probably makes absolutely no sense, here it is straight: Revolut has announced plans to launch a commission-free share trading service for its more than 2 million users. What about those other pies? Well, beyond its current account offerings, the company already offers cheap international money transfers and lets users buy and sell cryptocurrencies. Coming next:  netball-coaching, landscape gardening and swimming lessons. Only joking.

Advicefront closes £1.3m funding round – and declares war on dead trees

Are you sick of paper? Odd question possibly – but not if you're a financial adviser. Most are surrounded by the stuff and now one firm has passed a milestone in its mission to eradicate paperwork from UK financial planning businesses. Advicefront*, the tech start-up, has closed a £1.3m funding round led by platform technology provider FNZ. The firm plans to use the funds to help launch a trio of online advice tools onto the UK market that will help financial planners eradicate bureaucracy, complexity – and, of course, dead trees from their businesses.

Truly Shambolic Bank fesses up

TSB, the Bank That Likes To Say "Sorry Can't Help – Our Computers Are Down", has admitted that 1,300 customers had money stolen from their accounts – in some cases their life savings – by fraudsters exploiting the bank’s recent IT meltdown. The bank’s embattled chief executive, Paul Pester, made the admission during heated exchanges with MPs on the Treasury select committee on Wednesday afternoon. He also disclosed that the number of people quitting the bank in the wake of the botched IT upgrade was running at 400 to 500 a day, and currently totalled 12,500 since the problems first emerged in late April. More here.

Are men doing enough to tackle the gender gap?

There are many prominent women challenging the stale orthodoxy of the gender gap in tech. But isn’t it time men did more? That was the crucial question from Benedetta Arese Lucini, co-founder of Oval Money*, the automated savings platform. Read her thought-provoking article on AltFi.

Did we miss anything? Holler at us on Twitter over at @foco_global.

*NB: Foco client

Michael Taggart

Co-founder of Foco, the fintech content marketing agency