July was not a good month for the UK’s fintech scene. Revolut is still stuck waiting for its full banking licence, Wise is officially moving to New York, and Starling looks like it might follow. Meanwhile, Klarna is expanding, Chase is moving into Europe, and Monzo just got hit with a £21 million fine.

Is this just a series of bad headlines, or are we watching the start of a fintech exodus?

In this month’s recap, we break down everything that happened, explore what’s driving this shift away from the UK, and explain why it matters.

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