The Financial Conduct Authority has unveiled new marketing rules targeting digital banks and fintech firms, following a 40 per cent year-on-year increase in consumer complaints about misleading financial promotions. The regulations, which come into force in April 2026, require digital banks to display annualised interest rates more prominently, include clearer risk warnings on investment products, and ensure that introductory offers state the post-promotional rate with equal visual weight. The FCA said it received over 12,000 complaints in 2025 related to digital banking promotions, up from 8,600 the previous year.

FCA executive director of consumers and competition Sheldon Mills said the regulator had been "increasingly concerned" about marketing practices that exploit the immediacy and visual design of mobile banking apps. "Consumers are making financial decisions at speed on their phones, and some firms have not been presenting information in a way that allows for informed choices," Mills stated. The regulator singled out practices including countdown timers on savings deals, gamification of investment features, and push notifications that create a sense of urgency around time-limited rates.

The UK's neobanks have responded with varying degrees of acceptance. Monzo said it welcomed the clarity and had already begun updating its in-app disclosures. Revolut said it would comply fully but cautioned against "regulation that stifles innovation." Industry body Innovate Finance issued a statement calling for a proportionate approach. "Digital banks have brought enormous benefits to UK consumers, including transparency that traditional banks never offered," said Innovate Finance CEO Janine Hirt. "We must be careful not to impose rules that disproportionately burden smaller firms while leaving larger incumbents' marketing practices unexamined."