Archive News

The company's boss Do Kwon, will contribute more than $200 million to the settlement.
Posted: 17/6/2024
Barclays has suspended its sponsorship of major UK music festivals organised by Live Nation for 2024, including Download, Latitude and Isle of Wight
Posted: 17/06/2024
Starling Bank has reported its third year of profitability with pre-tax profits jumping 55 per cent to £301.1 million in the year ending 31 March.
Posted: 14/04/2024
On Thursday, FStech staged a highly successful Future of FinTech conference, bringing together leading experts and innovators in financial technology to discuss the latest trends, challenges, and opportunities shaping the industry
Posted: 14/06/2024
The renovation project will transform the building into an energy-efficient workspace for around 5,000 employees
Posted: 14/06/2024
BNP Paribas and BPCE will each invest €100 million between 2024 and 2028 to establish a separate legal company with its own governance structure and proprietary technology platform
Posted: 14/06/2024
Santander has revealed plans to develop a new technology platform for its global retail banking customers.
Posted: 12/6/2024
Martin Lewis was top of the list, with one consumer losing more than £150,000 in an scam that used the money expert’s details to trick them into a fake investment.
Posted: 12/6/2024
Which? has called on the next prime minister to appoint a dedicated minister to address the issue of fraud.
Posted: 12/06/2024
The application must still secure green lights from the European Central Bank and Spain's antitrust watchdog CNMC before it can proceed
Posted: 12/06/2024
NatWest has unveiled a new generative AI upgrade to its digital assistant Cora.
Posted: 12/6/2024
Citi has announced the launch of real-time funding for its corporate clients.
Posted: 11/6/2024
Five of the world’s largest banks have been accused of “greenwashing” their role in the future of the Amazon rainforest.
Posted: 11/06/2024
The latest senior hire is tasked with deploying a portion of the bank's massive $17 billion technology budget
Posted: 11/06/2024
Tandem Bank has announced its second year of profitability.
Posted: 11/6/2024
Sainsbury’s has partnered with Klarna to enable its Argos, Habitat and Tu customers to choose Buy Now, Pay Later (BNPL) at checkout for online purchases.
Posted: 10/06/2024
The Payments Association has called for the immediate delay of new rules from the Payment Systems Regulator (PSR), including its APP reimbursement scheme, following the resignation of the authority’s managing director (MD).
Posted: 10/6/2024
The two global payment processors are already embroiled in several lawsuits in London over the fees that retailers must pay when consumers use a card for purchases
Posted: 10/06/2024
The bank aims to use the new technology for a number of tasks, including streamlining analysis, investigation and reporting tasks and reducing reliance on data science teams for ad-hoc data requests.
Posted: 10/6/2024
Robinhood has announced plans to buy global crypto exchange Bitstamp in a $200 million deal.
Posted: 7/6/2024
SixFive Networks, which offers a global cloud-based SMS gateway platform, has received a £1 million loan from the bank using only its IP as collateral.
Posted: 7/6/2024
A new update to Mastercard’s Open Banking platform now enables customers to automatically switch direct deposits.
Posted: 07/06/2024
The probe comes as part of a broader review of the country’s mobile smart devices sector and its associated software
Posted: 07/06/2024
Mastercard has launched a new programme designed to support FinTechs in Western Europe.
Posted: 06/06/2024
Yellen will emphasise that AI-related risks have become a top priority for the regulatory council's agenda
Posted: 06/06/2024
CenBank governor Elvira Nabiullina emphasised the need for Russia to integrate into the global economy with countries willing to cooperate, despite Western sanctions
Posted: 06/06/2024
Deutsche Bank has expanded its partnership with Bitpanda to provide the Austrian crypto trading platform real-time payment services for transactions in Germany.
Posted: 05/06/2024
Former French president François Hollande has called on companies across the financial services industry to invest more in technology.
Posted: 5/6/2024
The proposed laws aim to mandate credit checks on borrowers, aligning the sector with other consumer credit products
Posted: 05/06/2024
The all-share offer, rejected by Sabadell last month, prompted Spain's second-largest bank to launch a hostile bid in its latest attempt to acquire its smaller rival
Posted: 05/06/2024
On Tuesday during a panel about AI and the future of technology at Money 2020 in Amsterdam, Joanne Hannaford, CIO and chief product officer (CPO) at Deutsche Bank’s corporate bank said that it is hard to imagine an organisation that would not look to BigTech to support the development far-reaching genAI systems.
Posted: 4/6/2024
On Tuesday Lee McNabb head of group payments strategy at NatWest told FStech that his team's retail focus has been on how to improve the experience for customers that are cross-border spending.
Posted: 4/6/2024
The development has prompted the financial giant to install new leaders at the helm of one of its fastest-growing divisions
Posted: 04/06/2024
The call from chief executive Stefan Walter comes after criticism over FINMA's handling of the Credit Suisse collapse last year
Posted: 04/06/2024
Silver and Platinum account customers will be able to use their card free of charge, anywhere around the world.
Posted: 3/6/2024
With over 12 million customers and €8 billion worth of deposits made since its launch in 2012, bunq is one the largest neobanks in the European Union.
Posted: 3/6/2024
Technology investments by major Italian banks lag behind their European counterparts, the central bank has warned
Posted: 03/06/2024
The Competition and Markets Authority (CMA) has opened an investigation into a merger between Nationwide Building Society and Virgin Money.
Posted: 31/5/2024
Swift has announced two AI-based in experiments to investigate how the technology could prevent cross-border payments fraud.
Posted: 31/05/2024
The package of measures is designed to crack down on greenwashing and help consumers navigate the growing market for environmental, social and governance (ESG) investments
Posted: 31/05/2024
Personal finance is a more important life skill than maths for schoolchildren, according to British parents.
Posted: 30/05/2024
The pilot, which was also rolled out in collaboration with Synectics Solutions and Featurespace, detected over £112 million worth of fraud.
Posted: 30/5/2024
The settlement involves consumers who withdrew cash from bank-operated ATMs since 2007
Posted: 30/05/2024
The watchdog has made it clear that organisations cannot abdicate boardroom responsibility and their legal obligation to protect customers when utilising AI technologies
Posted: 30/05/2024
Business Savings is an initiative by Mastercard which gives small business customers access to merchant offers when paying with an eligible Business Mastercard at merchants participating in the programme.
Posted: 29/5/2024
Germany’s financial regulator has lifted a growth restriction on digital bank N26.
Posted: 29/5/2024
PayPal will build a new advertising platform drawing on customer insights to make adverts more effective.
Posted: 29/05/2024
After announcing the first wave of speakers last month – including Lloyds Banking Group, First Direct, Oaknorth Bank, Zopa Bank, and Grant Thornton, FStech can reveal further details of speakers who are appearing at this must-attend event.
Posted: 28/5/2024
Scotland-headquartered investment and wealth manger abrdn has announced that Stephen Bird will step down as group chief executive after four years in the role.
Posted: 28/05/2024
At its peak on Tuesday morning, over 3,700 problem reports were submitted by NatWest customers.
Posted: 28/5/2024
The move will see Zopa finance the purchase and installation of Octopus solar panels for the energy firm’s British customers, spread out in up to 84 instalments over a seven-year period.
Posted: 24/5/2024
Allianz UK has appointed Hanna Kam to the company as chief risk officer and promoted Jason Howes to the newly created role of chief transformation officer.
Posted: 24/05/2024
Kathleen Martin alleges she was dismissed for opposing what she claims were attempts to provide false information to regulators
Posted: 24/05/2024
The Spanish bank says the move makes it the first European bank to forge a partnership with the generative AI (GenAI) company.
Posted: 24/5/2024
Google Pay has announced a new biometrics option for consumers at checkout.
Posted: 23/05/2024
According to the regulator, between June 2017 and October 2018, HSBC failed to properly consider people’s circumstances when they had missed payments.
Posted: 23/5/2024
The trade association, which represents over 300 financial services firms in the UK, said that unauthorised and authorised fraud was down four per cent compared to 2022.
Posted: 23/5/2024
Chancellor Jeremy Hunt and UK Government Investments, the agency managing Britain's stake in NatWest, had planned the sale to kickstart efforts to promote wider retail ownership of UK stocks
Posted: 23/05/2024
Stripe has announced the launch of several payment tools and financing options as it expands its footprint in the UK.
Posted: 22/05/2024
During a panel discussion on Tuesday about what is next for AI regulation across the UK, EU and US, Nicole Sandler told delegates that with differing frameworks and definitions of AI, firms need to prepare for the "most onerous" regulation.
Posted: 22/5/2024
The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) imposed the hefty penalties after identifying persistent failures in Citi’s trading systems and controls over a four-year period
Posted: 22/05/2024
The digital bank Chetwood Financial has completed the acquisition of the buy to let mortgage lender CHL Mortgages for Intermediaries (CMI) from Barossa Asset Purchaser Sarl.
Posted: 21/05/2024
This decision effectively postpones the completion of the process following a 2022 law on the subject, which paved the way for subsequent regulation by the central bank
Posted: 21/05/2024
Yellen said that the Treasury's new authority to impose secondary sanctions on banks aiding Russian military-related transactions had helped frustrate Russia's efforts to procure goods needed for its war in Ukraine, but more work was needed
Posted: 21/05/2024
Experian and alternative lender TRIVER have announced a new partnership designed to speed up the SME lending process.
Posted: 20/5/2024
Half of people aged between 16 to 24 have been left “frustrated” after finding their local bank branch has closed, according to new research from Nationwide.
Posted: 20/05/2024
The pair were arrested for allegedly managing a network that laundered proceeds from cryptocurrency investment scams, known as "pig butchering" scams.
Posted: 20/05/2024
UK banks have closed around 6,000 branches, or around 60 per cent of the total bank branch network, over the past nine years.
Posted: 17/05/2024
The comments come as the trade association, which represents over 300 firms in the UK, launches a new report calling for changes to help victim-survivors of domestic abuse regain control of their finances.
Posted: 17/5/2024
Nwanze, aged 30, faces charges of running an unauthorised investment scheme and issuing unauthorised financial promotions
Posted: 17/05/2024
UK digital bank Tandem has announced the appointment of Suavek Zajac as chief technology officer (CTO).
Posted: 16/5/2024
Standard Chartered Bank’s Hong Kong arm has successfully completed a pilot which tested cross-border transactions with tokenised carbon assets in partnership with Mastercard.
Posted: 16/05/2024
This latest retreat is aimed at generating long-term sustainable returns for the bank
Posted: 16/05/2024
Following the news last week that several leading US banks came up against data gaps and modelling challenges during a climate scenario analysis pilot, FStech news editor Alexandra Leonards speaks to industry experts to investigate why the banking industry is still struggling to understand climate-related financial risks
Posted: 15/5/2024
Dutch neobank bunq has upgraded its AI assistant to be fully conversational.
Posted: 15/05/2024
An internal memo seen by Reuters revealed Cole's impending exit on Tuesday
Posted: 15/04/2024
Santander found that customer data in Chile, Spain and Uruguay was accessed during the breach, while all of the bank’s current employees across the group were impacted by the incident.
Posted: 15/5/2024
American Express (Amex) has signed a new agreement with payments company Worldpay.
Posted: 14/5/2024
Schroders Greencoat, the renewables and energy transition infrastructure manager of Schroders Capital, has received a £170 million commitment from the Environment Agency Pension Fund (EAPF) into its UK flagship private markets fund Greencoat Renewable Income LP (GRI).
Posted: 14/05/2024
French President Emmanuel Macron has reiterated his stance on the need for greater consolidation within Europe's banking sector, even if it means a major French bank being acquired by a European rival
Posted: 14/05/2024
The group of 29 MPs said that they are “deeply alarmed” by powers contained in the Data Protection and Digital Information Bill that would allow the government to surveil millions of people, including the most vulnerable in society.
Posted: 14/5/2024
HSBC has launched a new feature on its mobile banking app to help its customers develop healthier savings habits.
Posted: 13/5/2024
We are now officially only one month away from The Future of FinTech 2024, FStech’s leading conference bringing business leaders from across the sector together to discuss the latest disruptions and technology developments in the financial sector
Posted: 13/05/2024
Banque Internationale à Luxembourg (BIL) has replaced its 30-year-old core banking system as part of its digital transformation.
Posted: 13/05/2024
Fossil fuel financing across 60 of the world’s largest banks has reached $6.9 billion since the Paris Agreement was signed eight years ago, according to new research.
Posted: 13/5/2024
Mastercard has launched its domestic payments processing services in China.
Posted: 10/05/2024
The analysis was carried out to help six of America's top banks understand the resiliency of their business models to climate-related financial risks.
Posted: 10/5/2024
The Financial Transactions and Reports Analysis Centre (FINTRAC) cited Binance's failure to properly register and report thousands of large cryptocurrency transactions as the basis for the fine
Posted: 10/05/2024
Economy Minister Carlos Cuerpo stated on Thursday that the government considers the proposed merger between the two banks would have potentially detrimental effects on the Spanish financial system, impacting jobs and customers
Posted: 10/05/2024
Google Wallet has now been launched in India.
Posted: 09/05/2024
Brazilian neobank Nubank has announced it now has more than 100 million customers across Brazil, Mexico, and Colombia.
Posted: 9/5/2024
Sabadell's board had said on Monday that BBVA's offer significantly undervalued the bank's potential and prospects
Posted: 09/05/2024
Revolut has announced the launch of a new standalone cryptocurrency exchange designed for professional crypto traders.
Posted: 9/5/2024
TSB has announced plans to close 36 branches and cut 250 roles.
Posted: 08/05/2024
The Treasury Committee has condemned what it describes as the "unfair debanking" of legitimate businesses and "substandard processes" for resolving disputes between SMEs and banks.
Posted: 8/5/2024
Nottingham Building Society is rolling out new tech to provide insurance quotes in as little as 60 seconds.
Posted: 8/5/2024
Austrian bank Raiffeisenlandesbank NÖ-Wien (RLB NÖ-Wien) has expanded its partnership with Bitpanda to a further 55 banks in Burgenland and Lower Austria.
Posted: 08/05/2024
Robinhood has said that it is disappointed after receiving a Wells notice from the US Securities and Exchange Commission (SEC) regarding its cryptocurrency business.
Posted: 7/5/2024
JPMorgan Payments has partnered with Visa to enable faster domestic payments in the US.
Posted: 07/05/2024
The €12 billion merger proposition, revealed last week, would have created a Spanish banking giant with a balance sheet of €70 billion
Posted: 07/05/2024
Zopa Bank has topped £4 billion in customer deposits just under four years since it was granted a banking license.
Posted: 3/5/2024
Mastercard has partnered with Checkout.com to launch virtual cards for online travel agents.
Posted: 3/05/2024
UBS is reportedly considering a rollout of huge cost cuts across its asset management division, including axing staff.
Posted: 3/5/2024
Nottingham Building Society has said it will allow foreign nationals based in the UK to access their overseas credit history when applying for a mortgage.
Posted: 2/5/2024
The Bank of Ireland is investing €34 million in customer service improvements, marking the largest single technology investment for branch and contact centre staff that the bank has ever made.
Posted: 02/05/2024
The Co-operative Bank has said its transformation programme is “materially complete” ahead of its merger with Coventry Building Society.
Posted: 2/5/2024
The bank had already to pay penalties of around $350 million for reporting incomplete trading data to surveillance platforms
Posted: 02/05/2024
The Bank of England (the Bank) has urged UK firms involved in facilitating payments to do more ahead of the March 2025 deadline for its new operational resilience rules.
Posted: 1/5/2024
The number of financial complaints received by the Financial Ombudsman Service jumped by a fifth in the second half of 2023.
Posted: 1/5/2024
NatWest Group has partnered with the Federation of Small Businesses (FSB) to offer members access to its payment service.
Posted: 01/05/2024
The merger would create a Spanish banking giant with a balance sheet of €70 billion and create a major competitor to the country’s leading bank, Santander
Posted: 01/05/2024
Mastercard has partnered with e-commerce platform PrestaShop to launch a new service that aims to simply the online payment experience.
Posted: 30/04/2024
On Tuesday the UK bank revealed that lending had declined from £12.2 billion at the end of December 2023 to £11.8 billion in March.
Posted: 30/4/2024
He has held the role for five years, during which time he has helped deliver record profits and the strongest returns for the bank in over a decade.
Posted: 30/4/2024
NatWest has issued its first-ever Intellectual Property-backed (IP) loan to software company Sci-Net.
Posted: 29/4/2024
Monzo is reportedly planning to raise £500 million in a fundraising round led by early growth investor Hedosophia.
Posted: 29/04/2024
The British bank was said to have helped arrange more than £3 billion in financing for Italian oil giant Eni in a way that helps it qualify for sustainable financing goals.
Posted: 29/04/2024
The Bank of London has launched a generative AI (genAI) assistant to speed up coding for firms testing banking applications via its API.
Posted: 26/04/2024
UK police and the National Crime Agency (NCA) have been given greater powers to seize, freeze and destroy cryptoassets being used by criminals.
Posted: 26/4/2024
NatWest has announced that profits declined from £107 million in the last quarter of 2023 to £82 million in the first three months of the year.
Posted: 26/4/2024
While agreeing that asset managers holding big passive stakes in banks is an issue that necessitates more attention, the FDIC said that it wants to refine a pair of competing proposals that would give it more power to scrutinise asset managers
Posted: 26/04/2024
Allica Bank has announced it has completed £500 million of asset finance lending.
Posted: 25/4/2024
The British bank said that Pick will bring “a wealth of knowledge and deep expertise in acting for large cap Corporates and Financial Sponsors that will be pivotal in helping the bank capitalise on the recovering M&A market”
Posted: 25/04/2024
NatWest and other UK banks are the first in the world to roll out Mastercard's new AI technology to tackle fraud.
Posted: 25/4/2024
Revolut expects to increase its global workforce by 40 per cent by the end of 2024
Posted: 24/04/2024
Scholz said that the union would help to create uniformity in financial markets across Europe
Posted: 24/04/2024
The UK's financial watchdog has published guidance on how to approach its upcoming anti-greenwashing rule which comes into force on 31 May.
Posted: 23/4/2024
UniCredit has partnered with Mastercard to launch payment cards with accessibility features for blind and partially sighted people.
Posted: 23/04/2024
UK Finance has outlined a set of contractual arrangements that can be used between account providers and payment service providers (PSP) who are facilitating Variable Recurring Payments (VRPs).
Posted: 23/4/2024
UK financial watchdog the Financial Conduct Authority (FCA) has called for the creation of a strong regulatory framework around the use of artificial intelligence in financial services
Posted: 23/04/2024
The Financial Conduct Authority (FCA) is joining other key regulators on a pilot scheme designed to help companies developing AI to meet existing regulatory standards.
Posted: 22/4/2024
Klarna is selling virtual shopping platform HERO to video commerce platform Bambuser for around 15 million Swedish Krona (€1.5 million).
Posted: 22/04/2024
Allica Bank has reached its first full-year of profitability three years after the UK FinTech started lending to SMEs.
Posted: 22/4/2024
In February, the UK financial watchdog launched a consultation which revealed plans to publish updates on investigations and be open about when cases have been closed with no enforcement outcome.
Posted: 22/4/2024
The European Commission in 2022 accused Apple of abusing its position by preventing rival mobile wallet app developers from accessing the tech used by the company’s proprietary Apple Pay and Apple Wallet systems
Posted: 22/04/2024
Global issuer processor Paymentology has announced the appointment of Anna Porra as chief revenue officer.
Posted: 19/4/2024
UBS is reportedly shutting down parts of its China private funds business, resulting in a third of staff being laid off.
Posted: 19/4/2024
HSBC and Standard Chartered are supporting a new UK-Southeast Asia partnership designed to address issues in the financial services sector.
Posted: 19/04/2024
The Australian Securities and Investments Commission (ASIC) said that the bank lacked effective controls to prevent and detect unauthorised fee transactions conducted by third parties
Posted: 19/04/2024
BNP Paribas has launched Tap to Pay on iPhone for its retail customers in France.
Posted: 18/04/2024
Entries for the 2024 Payments Awards are now open, with a 11 July deadline to submit your company for consideration across a range of categories
Posted: 18/4/2024
Klarna is launching its credit card in the US.
Posted: 18/4/2024
The company confirmed on Wednesday that it plans to cut around 500 jobs in the country by 2026 in an effort to refocus its business on more profitable activities
Posted: 18/04/2024
Payments Canada has said it is renewing its efforts to implement a faster payment system for the country but says it will not be operational before 2026.
Posted: 17/04/2024
FStech is launching The Future of AI in Financial Services conference at the London Hilton Tower Bridge on 24 September 2024 to bring together leading experts in the field for an impactful event exploring the future of AI in financial services
Posted: 17/4/2024
HSBC has further demonstrated its commitment to Open Finance by supporting the government’s new taskforce.
Posted: 17/4/2024
Starling Bank’s Software as a Service (SaaS) arm has launched what it describes as Romania’s first digital-native bank.
Posted: 16/4/2024
Mastercard has partnered with Canadian FinTech VOPay in a bid to speed up and simplify both domestic and cross-border payments in Canada.
Posted: 16/04/2024
The new taskforce will be chaired by the Centre for Finance, Innovation and Technology (CFIT), which was launched last year in a bid to unblock barriers to growth in the UK FinTech industry.
Posted: 16/4/2024
Landesbank Baden-Württemberg (LBBW) has partnered with crypto platform Bitpanda to provide “Investing-as-a-Service" infrastructure for corporate clients.
Posted: 15/05/2024
Lloyds Banking Group has warned customers to be vigilant when booking their holiday as the bank releases figures revealing online scams have risen seven per cent in the past year.
Posted: 15/04/2024
Monthly card spend at HSBC has risen 15 per cent following a rollout of AI mathematical optimisation technology.
Posted: 15/4/2024
The deal for Fosun’s entire stake in Ageas is worth €730 million
Posted: 15/04/2024
Atom Future Fund aims to encourage and support sixth form students from low-income backgrounds or those who are in the care system to apply to Russell Group universities.
Posted: 12/4/2024
Barclays has led a Series B funding round into UK fintech Funding Xchange (FXE).
Posted: 12/2/2024
N26 has announced it is launching joint accounts in 21 new European markets to enable customers to manage their finances as a couple.
Posted: 12/04/2024
In 2021, the Financial Conduct Authority (FCA) banned certain commission arrangements which gave brokers an incentive to hike the interest rate that consumers pay for their motor finance.
Posted: 12/4/2024
Lloyds Banking Group reportedly has plans to cut some risk management jobs following a review which found the function was a “blocker” to its strategic transformation.
Posted: 11/4/2024
Marks and Spencer (M&S) has agreed a seven-year deal with HSBC to improve the products it offers through M&S Bank.
Posted: 11/04/2024
The platform enables the building society’s staff to view all of their benefits in one place and is designed to encourage them to review these on a regular basis.
Posted: 11/4/2024
A new report from the International Monetary Fund (IMF) has argued that a cyber attack of sufficient size could cause a “cyber run”, an incident which would cause market sell-offs or a rush of customers withdrawing their money.
Posted: 11/4/2024
In the past 12 months, the number of tech professionals moving into financial services jobs increased by 24 per cent in the UK.
Posted: 10/4/2024
Monzo has joined the Post Office network to allow its customers to make cash deposits across 11,500 branches.
Posted: 10/04/2024
Jamie Dimon's widely read annual letter to shareholders said that the bank was now looking into applying generative AI to applications like software engineering, customer service and operations “as well as in general employee productivity”.
Posted: 10/4/2024
Figures from the Financial Conduct Authority (FCA) published on Wednesday reveal that 5.5 million people either fell behind on or missed one or more bills or credit repayments in the six months to January 2024.
Posted: 10/4/2024
Global funding for FinTech start-ups has fallen to the lowest levels since 2017 with investment in the first quarter of 2024 falling by 16 per cent to $7.3 billion, according to new research.
Posted: 09/04/2024
A new £99 million ($125 million) venture capital fund aimed at retail technology start-ups has been launched by Tesco and Australian retail giant Woolworths.
Posted: 9/4/2024
The European Central Bank (ECB) is set to begin exploratory work on using distributed ledger technology (DLT) to settle wholesale transactions in central bank money.
Posted: 9/4/2024
HSBC is selling its Argentinian business to Buenos Aires-based private financial firm Group Financiero Galicia in a $550 million deal.
Posted: 9/4/2024
The bank said that through the new business, called Bernstein, its clients will have access to global services including “world-class” equity and macro research, agency execution, equity derivatives, prime brokerage, and equity capital markets offerings.
Posted: 8/4/2024
Crédit Agricole has partnered with French multinational payment services firm Worldline to launch a new payment services brand for merchants in France.
Posted: 08/04/2024
Santander is reportedly withdrawing its membership from the Lending Standards Board (LSB) over concerns about the duplication of regulatory standards in the UK market.
Posted: 8/4/2024
The Lending Standards Board (LSB) has appointed three new non-executive directors.
Posted: 5/4/2024
Swedish FinTech Klarna has said it will publish transactional data to “encourage transparency” in the credit industry.
Posted: 05/04/2024
More than half of the financing examined in the report came from Bank of America, Citigroup, JP Morgan Chase; collectively leading to 24.4 million metric tons of CO2e emissions.
Posted: 5/4/2024
The Service anticipates a caseload of 210,000 complaints this year, higher than the 181,000 new cases it predicted for 2024/25 in December last year.
Posted: 4/4/2024
JPMorgan Chase has launched a new digital media business which uses its financial data to offer its customers personalised promotions.
Posted: 04/04/2024
The UK financial watchdogs said that the five-year-long sandbox will modify regulation to allow firms to use new technology, including distributed ledge technology (DTL), in the trading and settlement of digital shares and bonds.
Posted: 4/4/2024
US bank Morgan Stanley has renewed the lease on its European headquarters in London's Canary Wharf to 2038
Posted: 04/04/2024
NatWest has partnered with Tesco to launch a finance scheme for farmers who want to switch to sustainable farming methods.
Posted: 03/04/2024
Commerzbank is updating its payment platform in Germany to process cross-border payments via the SWIFT network and process high-value and urgent payments via the TARGET 2 or EURO 1 Payment systems.
Posted: 03/04/2024
Canadian payments processor Nuvei has announced it will go private as part of a takeover deal by Advent.
Posted: 3/4/2024
Santander Bank has appointed Swati Bhatia as head of retail banking and transformation with immediate effect.
Posted: 02/04/2024
Lloyds Banking Group has announced a £3 million investment in property FinTech Coadjute.
Posted: 2/4/2024
Amazon has launched an app which lets customers sign up for its palm recognition payment service using their phone instead of visiting a physical location.
Posted: 02/04/2024
Global embedded finance revenue is set to jump 148 per cent over the next four years, according to new research.
Posted: 2/4/2024
Smaller financial institutions risk getting left behind when developing in-house AI systems as they lack the internal data sources required to train large models.
Posted: 28/04/2024
US-based trading platform Robinhood has announced the launch of a credit card aimed at making it easier for customers to track how they spend their money.
Posted: 28/03/2024
The ASEAN Growth Fund will provide lending to companies that are scaling up via digital platforms across the region
Posted: 28/03/2024
The Financial Conduct Authority (FCA) has urged firms and “finfluencers” to keep adverts on social media channels fair and clear.
Posted: 27/03/2024
Mastercard and Visa have agreed to a landmark settlement with US merchants to cut transaction rates and cap them for five years
Posted: 27/03/2024
On Tuesday, the company said that it had started a consultation to eliminate 12 per cent of its workforce as part of plans to simplify its business and cut costs
Posted: 27/03/2024
OakNorth has announced that its pre-tax profits increased by 23 per cent to £187 million in 2023, up from £152.3 million in 2022.
Posted: 26/03/2024
The move formed part of the second phase of the banking cooperative’s industry-wide experiment, which tested more complex use cases than those carried out in the organisation's initial trials, including piloting CBDCs for payments.
Posted: 26/3/2024
The government had initially set out a target of returning NatWest to private ownership by 2026, and still aims to sell a remaining amount of its stock to the public as early as June
Posted: 26/03/2024
The bank will also use artificial intelligence and generative AI services from AWS to help improve internal developer productivity, create conversational interfaces, provide personalised recommendations, and gain insights from customer interactions.
Posted: 25/3/2024
Amazon has partnered with Stripe to provide payments for retailers using its ‘just walk out’ technology in Australia and Canada.  
Posted: 25/03/2024
NatWest Group has announced new £5 billion package of targeted lending for UK social housing.
Posted: 25/03/2024
According to the Workers' Commissions (CCOO), 75.8 per cent of around 80,000 banking staff took part in the strike which demands a minimum pay rise of 13 per cent over a three-year period from 2024
Posted: 25/03/2024
The British Business Bank has launched a £660 million fund set to support new and growing businesses in the North of England.
Posted: 22/01/2024
The digital and start-up incubation arm of BT Group said that the move would enable the company's one million merchant customers to accept physical debit and credit cards, Apple Pay and other digital wallets, and remove the need for card readers or extra hardware.
Posted: 22/3/2024
A study conducted by SME price comparison site BusinessComparison, which last month surveyed 1,000 UK-based SME owners and senior decision-makers, found that 74 per cent of respondents have fewer bank branches near their business than there were a decade ago.
Posted: 22/3/2024
The layoffs will see the bank take the axe to under-performing investment bankers
Posted: 22/03/2024
The bank on Thursday said that it had renewed its commitment to the national body for careers education in England, The Careers & Enterprise Company (CEC), following a successful pilot
Posted: 21/03/2024
Andrea Hermann has been re-appointed as chief financial officer at the Vienna Stock Exchange to provide “stability and continuity” to the management board.
Posted: 21/03/2024
Nationwide has agreed the terms of a £2.9 billion deal to buy Virgin Money.
Posted: 21/3/2024
The embedded finance platform said that it would use the Series F investment to onboard a credit card programme for ADAC (Allgemeiner Deutscher Automobil-Club) – which describes itself as Europe’s largest automobile association.
Posted: 20/3/2024
The FCA has set out its business plan for 2024 – 2025, the final year of its three-year strategy
Posted: 20/03/2024
The expanded partnership, which will go into pilot in the second quarter with a full launch expected in the third, will see Lloyds Bank Cardnet become the main card acquiring partner across the PayPoint Group’s network of over 60,000 SME and retailer partners
Posted: 20/03/2024
ClearBank has partnered with Poundtoken to provide the sterling stablecoin issuer with banking services.
Posted: 19/03/2024
The Bank for International Settlements (BIS) has completed the first stage of a new project that is using generative AI (genAI) to carry out climate risk analysis.
Posted: 19/3/2024
The neobank said that the iPad app, which is now out of beta-testing, forms part of its plan to target the hospitality industry with its payment technologies.
Posted: 19/3/2024
The firms, Delphia and Global Predictions, agreed to pay $225,000 and $175,000 respectively in fines to settle the charges of “AI washing”
Posted: 19/03/2024
Nationwide has rolled out British Sign Language (BSL) across its website to make it more accessible to Deaf customers.
Posted: 18/03/2024
US consumer credit reporting agency TransUnion has launched a new AI platform designed to help financial institutions manage their data.
Posted: 18/3/2024
The former crypto golden child was found guilty on seven counts of fraud and conspiracy in November
Posted: 18/03/2024
The long-term goal for M&S is to develop an app that merges payments, financial services, and the Sparks loyalty programme, in a move that could see the retailer taking ownership of the platform.
Posted: 18/3/2024
The Vienna Stock Exchange has added Jump Trading Europe as a new international trading member.
Posted: 15/03/2024
SAP has announced the launch of a new open payment framework in partnership with several leading payment services providers (PSPs.)
Posted: 15/3/2024
Lloyds Banking Group & Publicis Sapient, HSBC and Revolut were among those to scoop up awards at last week's FStech awards ceremony.
Posted: 15/3/2024
Nationwide Building Society is rolling out new software to modernise and improve security across its UK ATMs.
Posted: 14/03/2024
The OECD said that while the deal may have safeguarded the Swiss economy in the short term, the organisation has concerns over UBS’s domestic dominance and a need for stronger financial regulation
Posted: 14/03/2024
The move comes after the bank launched a partnership with the firm to roll out its payment platform modernisation plans.
Posted: 14/3/2024
The Financial Conduct Authority's (FCA) comments come after some banks raised concerns that its new Consumer Duty, which came into force last summer, has put pressure on business models and margins.
Posted: 14/3/2024
Under the “near-final” legislation, expected to come into law on 7 October, payment services providers will be able to delay an outbound payment by up to four business days from the time the order is received.
Posted: 13/3/2024
Mastercard has launched an Open Banking-powered subscription management tool that financial institutions can plug into their consumer banking applications.
Posted: 13/03/2024
The company on Wednesday said that the pending Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS) demonstrated that it is “among the most trusted crypto platforms in the world”
Posted: 13/03/2024
The pledge follows previously announced annualised cost savings of £50 million which will see 1,000 employees – representing 22 per cent of the bank's headcount – leaving before mid-April.
Posted: 13/3/2024
The maintenance upgrade is part of plans to make regulatory changes to the SEPA Scheme Rulebook.
Posted: 12/3/2024
Bhatia takes over from John Mountain, who has been interim chief exec since the bank's founder Anne Boden stepped down from the role last year.
Posted: 12/3/2024
Banking as a Service (BaaS) firm Griffin has been awarded a full UK banking licence by the Financial Conduct Authority and the Prudential Regulation Authority.
Posted: 12/03/2024
Buy Now, Pay Later (BNPL) pioneer Klarna has been handed a SEK7.5 million (£574,000 fine) for violating the EU's General Data Protection Regulation (GDPR) rules
Posted: 12/03/2024
Analysis from the business and financial services giant also found that human trafficking has been a common predicate crime to money laundering globally, connected to over 10 per cent of cases flagged by the company.
Posted: 11/3/2024
Lloyd's of London has published preliminary full-year results that indicate a £3.3 billion underwriting profit increase to £5.9 billion.
Posted: 11/3/2024
Leithner, a member of the German exchange’s executive board since 2018, will take up his new position on 1 October
Posted: 11/03/2024
The Financial Conduct Authority (FCA) said that these products would only be available for professional investors that are authorised or regulated to operate in financial markets, like investment firms or credit institutions.
Posted: 11/3/2024
Small & Medium Enterprise Banking (SMEB) is developing a physical High Street network, alongside technologies, to service the UK’s roughly 5.5 million SMEs.
Posted: 8/3/2024
The 10-year agreement will see Lloyds purchase 50 GWh of clean electricity annually, generated from Low Carbon’s Meadow Solar Farm in Hampshire and Pepperhill Solar Farm in Staffordshire
Posted: 08/03/2024
A reported 41 per cent rise in Aviva’s private health business has contributed to a nine per cent uptick in its operating profit for its financial year ended 31 December.
Posted: 8/3/2024
The partnership, which builds on an existing relationship between the two companies, will give the Spanish bank access to Cisco’s full software portfolio, including technology and customer experience services.
Posted: 7/3/2024
The letter warns that combining two of the country’s largest credit companies would “further concentrate risk” and damage competition.
Posted: 07/03/2024
Capstack says its marketplace concept aligns with the US financial sector's imperative to reduce concentration risk following the collapse of Silicon Valley Bank and other recent failed financial institutions.
Posted: 7/3/2024
If the acquisition goes through, the merged companies would create a group with total assets worth £366 billion, which they say would make it the second largest provider of mortgages and savings in the UK.
Posted: 7/3/2024
Under the new deal, Western Union customers will be able to send money to eligible Visa cards and bank accounts across 40 countries.
Posted: 6/3/2024
Businesses using the financial infrastructure platform can now accept in-person payments with Apple’s technology, with no additional hardware or payment terminal needed.
Posted: 6/3/2024
Understood to be the first US bank to hold principal membership, the American multinational said that having joined the payments network – which in France processes around 15 billion transactions per year via card or mobile phone – it intends to offer merchant clients payment transactions for those acquiring services of Cartes Bancaires by 2024.
Posted: 6/3/2024
Monzo, the UK’s largest digital bank, has announced that it has raised £340 million in its latest funding round
Posted: 06/02/2024
The investigation comes after the Federation of Small Businesses (FSB) raised concerns that a growing demand for personal guarantees by banks has had a “detrimental impact” on small businesses and puts them off borrowing funds to grow.
Posted: 5/3/2024
Willis Towers Watson (WTW) has announced that Julien Bosc is joining its global speciality team, which comes under the company's insurance consulting and technology business.
Posted: 5/3/2024
Ireland's central bank has said that there are innovations in the payment space that "remain untapped" in the country.
Posted: 5/3/2024.php
The central bank has faced criticism in recent years following a number of major scandals
Posted: 05/03/2024
Lloyds Bank has pledged to support the Open Property Data Association (OPDA) in its aim to improve the homebuying and selling process by developing a standardised approach to sharing digital data in the market.
Posted: 4/3/2024
The coalition, co-chaired by the chief executives of Zilch, ClearBank, and Innovate Finance, brings together unicorn founders in a bid to drive further growth in the UK FinTech industry.
Posted: 4/3/2024
Page most recently served as the managing director and CFO of Kensington Mortgages after it was bought by Barclays and has held roles at the bank since 2017.
Posted: 4/3/2024
Spanish bank Santander has reportedly cut over 300 staff in the US as part of a shift to digital operations
Posted: 04/03/2024
Webull Corporation is to publicly list following a merger with SK Growth Opportunities Corporation (SK Growth).
Posted: 1/3/2024
Nationwide is trialling a new community fund that will donate £200 for every new current and savings account opened by residents in Windsor, where it is the last bank branch in the town
Posted: 1/3/2024
A New Mexico schoolteacher is leading a new proposed class action after Wells Fargo began notifying customers to contact the bank if they had been enrolled in any unwanted products
Posted: 01/03/2024
The Buy Now, Pay Later (BNPL) firm said since it launched the OpenAI technology a month ago, the chatbot has had 2.3 million conversations, or two-thirds of its total customer service interactions.
Posted: 29/2/2024
Worldline has reported losses of around €817 million in its 2023 financial results, due in large part to a €1.15 billion goodwill impairment on merchant services activities.
Posted: 29/2/2024
The move will allow the payments firm to develop its cash management product from which virtual accounts will now be issued to merchants.
Posted: 29/2/2024
The UK’s Financial Conduct Authority (FCA) on Thursday said that despite acknowledging the wholesale data market can be improved, the regulator has ruled out a significant intervention
Posted: 29/02/2024
The Women-Led High Growth Taskforce is calling on investment firms to increase the number of senior women investment professionals they hire so that female entrepreneurs don’t continue to lose out on funding.
Posted: 28/2/2024
American Express (Amex) has launched a new service that lets UK credit card customers pay off purchases on their statement, or a portion of their monthly bill, in instalments.
Posted: 28/2/2024
The US bank said that Braunstein will focus on growing the company’s corporate finance and advisory businesses, while also providing counsel to Wells Fargo senior management on broader business issues
Posted: 28/02/2024
Chair of the Treasury Committee Harriett Baldwin said that an inquiry into whether SMEs have adequate access to financing had found “startling” evidence of lenders choosing to shut down business bank accounts with little or no notice.
Posted: 28/2/2024
The payment network’s new pay over three months option supplements its pre-existing option for customers to pay now or spread payments over a six-week period.
Posted: 27/2/2024
The new organisation structure will merge the bank’s commercial, corporate and investment banking franchises under the global banking umbrella
Posted: 27/02/2024
Understood to be the first UK bank to join the blockchain-powered platform, Lloyds said WaveBL would help unlock new trade efficiencies and sustainability benefits for its customers by using electronic Bills of Lading (eBLs).
Posted: 27/2/2024
The Council said that the new rules would improve the strategic autonomy of the European economic because they reduce “excessive reliance” on third-country financial institutions like Visa and Mastercard.
Posted: 26/2/2024
‘Female Founders Playbook – Insights from the superwomen who made it’, explores the experiences of leading women entrepreneurs and venture capital investors, offering insights on every aspect of launching a high-growth business.
Posted: 26/2/2024
The Singapore-based global payments provider will work with the bank to offer free international money transfer services through the Enjaz app.
Posted: 26/2/2024
The bank in March of 2022 admitted that it had sold $15.2 billion more structured and exchange-traded notes than the $20.8 billion permitted by US regulators over a five year period
Posted: 26/02/2024
The new entity will be the main enforcer of AML and anti-terrorism financing rules in the EU.
Posted: 23/2/2024
Tandem Bank has announced the launch of a new affordability calculator.
Posted: 23/2/2024
The Colombia-based B2B financial solutions platform, first founded in 2019, has been focused on devising tools which aim to simplify and automate key financial tasks including record centralisation, reconciliations, controls, reporting, and accounting.
Posted: 23/2/2024
VTB boss Andrey Kostin was sanctioned by the US in 2018 and has been accused on two counts of money laundering and sanctions violations in a Manhattan federal court
Posted: 23/02/2024
Plum told customers on Thursday that its customer support platform is having technical issues.
Posted: 22/2/2024
The European Central Bank (ECB) has announced a record loss of €1.3 billion following the release of €6.6 billion for financial risks.
Posted: 22/2/2024
Revolut has launched a robo-advisor to automate investing for customers across the European Economic Area.
Posted: 22/2/2024
LSEG's Eikon and Workspace market data platforms and its interbank foreign exchange matching systems FXT and FXall were not functioning for around an hour and a half on Thursday morning
Posted: 22/02/2024
During a speech at the UK Mission to the European Union on Monday, Alder said that the UK and EU needed to continue to cooperate against a backdrop of “turmoil we are all attempting to navigate” such as the current conflicts in Europe and the Middle East, the climate crisis, and the ongoing “economic drag” of Covid.
Posted: 21/2/2024
The Future of FinTech conference will return at the London Hilton Tower Bridge on 13 June 2024 for its fifth annual event to discuss the latest disruptions and technology developments in the financial sector
Posted: 21/2/2024
Pre-tax profits for the British bank’s fourth quarter fell from $4.1 billion to $1 billion and from $5 billion for the same period in the previous year, with $3 billion of the decline due to an impairment charge in BoCom with the remainder attributable to the sale of its retail banking operations in France.
Posted: 21/2/2024
Russia's central bank said that Qiwi engaged in high-risk operations, even after it was given a series of warnings
Posted: 21/02/2024
Capital One has announced plans to buy fellow US credit card issuer Discover for $35.3 billion.
Posted: 20/2/2024
Payment services provider Mollie has launched a new service which gives UK SME merchants access to rapid funding.
Posted: 20/02/2024
The British neobank could raise up to £350 million within the next fortnight, people familiar with the matter told The Financial Times.
Posted: 20/2/2024
In June 2022, HSBC said that it had agreed to sell a 100 per cent stake in its HSBC Bank (RR) unit to Expobank in light of Russia’s illegal invasion of neighbouring Ukraine and subsequent Western boycott of Russia
Posted: 20/02/2024
The company said that the “oversubscribed” final closing has given it the opportunity to attract new categories of global institutions, namely US and Middle East pension and sovereign funds.
Posted: 19/2/2024
Visa has rolled out Detected’s Know Your Business (KYB) platform to help improve the onboarding process for SMEs in the US and Canada.
Posted: 19/2/2024
The US bank admitted that certain trading and order data through its Corporate and Investment Bank unit was not fed into its trade surveillance platforms
Posted: 19/02/2024
Netherlands-based insurer Achmea is reportedly in early stage talks about potentially selling its life insurance business.
Posted: 16/2/2024
PayPal Ventures has co-led a $30 million funding round in Rasa, a generative AI (GenAI) platform.
Posted: 16/02/2024
The central bank is designated in the US for its role in providing financial support to Lebanese militant group Hezbollah and the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).
Posted: 16/2/2024
NatWest has announced it has appointed Paul Thwaite as group chief executive and executive director with immediate effect.
Posted: 16/02/2024
The case, brought by the Financial Conduct Authority (FCA), stated that Mohammed Zina came into possession of inside information relating to potential mergers and acquisitions that the bank was advising on.
Posted: 15/2/2024
Citi has completed a proof of concept which trialled the tokenisation of private funds with investment companies Wellington Management and WisdomTree.
Posted: 15/2/2024
Insurance provider Admiral has partnered with Google Cloud roll out cloud for its core insurance operations and digital systems.
Posted: 15/02/2024
Revolut has launched an advanced scam detection feature to help protect customers from card scams.
Posted: 15/02/2023
Romance scams targeting male victims have risen by 40 per cent in the past year, while those aimed at women saw a drop of two per cent.
Posted: 14/02/2024
Monzo said that the vast majority of this growth has been driven by word of mouth referrals and a string of product launches including Investments, Instant Access Savings and Cashback
Posted: 14/2/2024
Finom, a Netherlands-based challenger bank which provides services for SMEs, has raised €50 million in a Series B funding round.
Posted: 14/02/2024
The UK’s economic secretary to the Treasury has said that shares at British banks are undervalued in part because of lingering concerns around Brexit.
Posted: 14/2/2024
Venture capital firm Founderful, previously called Wingman Ventures, has raised $85 million for a new fund to back Swiss tech start-ups.
Posted: 13/02/2024
The founder of Banking as a Service (BaaS) firm Bankable is to step down from his role as chief executive after 13 years in the role.
Posted: 13/02/2024
Revolut will now offer an eSIM – a digital SIM built directly into a mobile phone – and global data plans to its customers in the UK.
Posted: 13/2/2024
The bank said that there was a “technical issue” on Monday night which triggered delays to faster payments into the next morning.
Posted: 13/2/2024
The European Parliament said that the measure was adopted with 599 votes to 7 and 35 abstentions
Posted: 13/02/2024
GAP insurance, typically sold alongside car finance, covers the difference between a vehicle’s purchase price or outstanding finance and its current market value, in the event it is written off before finance has been repaid.
Posted: 12/2/2024
Alba Bank has announced that Rod Ashley is stepping down from his role as chief executive after six years in post.
Posted: 12/02/2024
The figures come amidst a wave of bank branch closures across the UK, with some consumers instead going to their local Post Office to withdraw or deposit cash.
Posted: 12/2/2024
A new report from the US Federal Reserve shows a 12 per cent year-over-year increase in loans outstanding to non-deposit-taking financial companies at the end of January
Posted: 12/02/2024
The move involves the bank backing companies in the Google Cloud Ready- Sustainability Programme, an initiative for firms with solutions available on Google Cloud that help customers reduce carbon emissions, increase sustainability in value change, or process ESG data to help identify climate risks.
Posted: 9/2/2024
NatWest Group has announced the appointment of Emma Crystal as chief executive officer of its wealth business, including the private bank Coutts. subject to regulatory approval.
Posted: 09/02/2024
The DPS is a procedure available for contracts for works, services and goods commonly available on the market.
Posted: 9/2/2024
Barclays will acquire Tesco Bank’s credit cards, loans and savings accounts, and will market Tesco-branded services as part of a partnership for an initial 10 year period
Posted: 09/02/2024
The Bank for International Settlements (BIS) has said that if the metaverse picks up it could put new demands on payment services.
Posted: 8/2/2024
The majority of scam cases reported in the UK originate on one of Meta’s platforms, according to new data from Revolut.
Posted: 08/02/2024
The Bank of England’s attempts to push through new rules to regulate so-called ‘shadow banking’ is “hard going”, the central bank’s deputy governor has said
Posted: 08/02/2024
The cost reduction plan dubbed ‘Power24’ was initially announced in October, and translates to about 1,400 jobs
Posted: 08/02/2024
Consumer card spending grew by only 3.1 per cent in January 2024, less than the latest consumer prices index including house (CPIH) inflation rate of 4.2 per cent and more than December’s growth of 2.3 per cent.
Posted: 07/02/2024
The trade association, which currently represents over 300 financial services firms in the UK, this week made public a set of recommendations it submitted to the government to include in the chancellor's Budget.
Posted: 7/2/2024
JP Morgan Chase is opening 500 new branches and renovating around 1,700 existing US locations over the next three years as part of a multi-billion dollar investment.
Posted: 07/02/2024
The executive has been at Barclays for over 16 years, joining as a director in 2007
Posted: 07/02/2024
The UK branch of consumer credit reporting agency Equifax has announced it is launching a new credit comparison marketplace.
Posted: 7/2/2024
The company, which launched 18 months ago, said that in Canada and Australia it has successfully registered to offer money transfer services to both individuals and businesses.
Posted: 6/2/2024
The firm, which focusses on getting pre-seed and seed B2B software companies to a successful Series A, said that the fund was it’s third and “biggest yet”.
Posted: 6/2/2024
Investment in the UK FinTech industry dropped from $18.7 billion in 2022 to $12.3 billion in 2023, a fall of 34 per cent.
Posted: 06/02/2024
The bank previously forecast a mild recession following the Federal Reserve’s tightening of interest rates to curb inflation
Posted: 06/02/2024
While the regulators haven't made a decision on who should take over from Pay.UK, which currently operates the service, people close to the matter told Sky News that TCS is favoured ahead of Mastercard-owned Vocalink.
Posted: 5/2/2024
Matthew Haines has joined Santander UK as product owner after working at Barclays for almost two decades.
Posted: 05/02/2024
Societe Generale (SocGen) is axing around 900 roles across its head office in France as part of cost-saving measures.
Posted: 5/2/2024
Men make up 52 per cent of the victims, though women tend to report higher losses – an average £9,083, compared to an average £5,145 lost by men
Posted: 05/02/2024
Schroders Personal Wealth (SPW) has said it is launching a new platform to bring the control and oversight of client money and investments in-house.
Posted: 02/02/2024
The move comes as the company records a two per cent increase in pre-tax profits to € 5.7 billion for 2023.
Posted: 2/2/2024
The bank, which was named an 'eco provider' by Which? last year, said that it has already ended paid advertising on X and will no longer use the channel for providing information or customer service.
Posted: 2/2/2023
The BoE had previously touted AI’s capacity for “containing recruitment and labour costs"
Posted: 02/02/2024
The Bank of Ireland is investing more than €60 million in branch improvements, including installing new ATMs across all of its 182 branches.
Posted: 01/02/2024
FTX, formerly the world’s second-largest cryptocurrency exchange, has abandoned efforts to restart its operations
Posted: 01/02/2024
The move will allow consumers to pay for vehicle deposits, repairs, parts, services, and purchase vehicles outright through Open Banking.
Posted: 1/2/2024
The company said that the technology scans an “unprecedented” one trillion data points to predict whether a transaction is likely to be geninue or not.
Posted: 1/2/2024
The cycle hire fleet will adopt a new name, 'Starling Bank Bikes', with bikes bearing the new branding set to be seen on the streets of Manchester, Trafford and Salford from February.
Posted: 31/1/2024
BNY Mellon has launched cash management technology which gives customers access to and control of cash administration and reporting capabilities.
Posted: 31/01/2024
In a letter to staff, the company’s chief executive Alex Chriss said that it would be axing nine per cent of its workforce.
Posted: 31/1/2024
Tide said that Marriott, who joined the business in 2018, will oversee all risk classes, compliance, quality control, and enterprise risk management
Posted: 31/01/2024
PayPal's investment was made almost entirely using PayPal USD (PYUSD), its US dollar denominated stablecoin.
Posted: 30/1/2024
The partnership says that the move addresses a “clear gap in the market” for customers across the Gulf Cooperation Council (GCC) who want holiday homes, buy-to-let properties and other residential opportunities.
Posted: 30/1/2024
Netherlands-based FinTech bunq has announced a net profit of €53.1 million for 2023, its first year of profitability.
Posted: 30/01/2024
The fine, the first of its kind under rules designed to protect customers from bank failures, is the second largest ever imposed by the PRA
Posted: 30/01/2024
Atlantic Council says that technological payments innovation at the US Federal Reserve (the Fed) is “lagging behind its peers and competitors”, with less than 20 people working on digital currency research and development at the central bank.
Posted: 29/1/2024
Crypto platform Kraken has announced two new appointments which it says will help it navigate the global regulatory environment
Posted: 29/01/2024
Revolut has announced the launch of a new app designed to simplify sending money abroad.
Posted: 29/1/2024
PayPal has announced it is trialling six new features in the US which use AI personalisation for both merchants and consumers.
Posted: 26/01/2024
Amazon Insurance Store was launched in October 2022 as part of an industry-wide trend of big tech firms pushing into personal finance
Posted: 26/01/24
Lloyds is ramping up its shift to digital with the axing of around 1,600 branch roles, the UK bank has confirmed
Posted: 26/01/24
Pay.UK's free-to-use service enables consumers to easily switch their personal or business account between banks and building societies.
Posted: 25/1/2024
Austrian Bank Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) has expanded its partnership with Bitpanda to allow customers to trade digital assets via their mobile banking app.
Posted: 25/01/2024
The total amount stolen was around 54.3 per cent lower than the prior 12 months
Posted: 25/01/24
The launch of the $7.99 per month subscription service in the US comes ahead of an anticipated IPO that could value the Swedish company at more than $15 billion
Posted: 25/01/24
Visa Canada has announced a new partnership with Plug and Play, a startup accelerator and venture capital firm.
Posted: 24/01/2024
The organisation predicts a continued rise in disputed transactions over the next 12 months, driven by the increasing volume of financial fraud and scams.
Posted: 24/1/2024
Santander Mexico has plans to launch a new digital bank over next few months.
Posted: 24/1/2024
Gilinski played a major role in Metro’s £325 million equity recapitalisation in October 2023, and owns a 52.88 per cent stake in the bank via his Spaldy Investments vehicle
Posted: 24/01/24
National Australia Bank (NAB) has teamed up with Microsoft to launch a free cyber assessment tool for small businesses.
Posted: 23/1/2024
Having been granted its banking licence by the UK Prudential Regulatory Authority PRA and the Financial Conduct Authority in early 2023, the Scottish neobank has spent the past year building out its team, operations and infrastructure, preparing for market entry in 2024.
Posted: 23/1/2024
Crédit Agricole Group has acquired a seven per cent stake in Worldline, a French global payment provider.
Posted: 23/01/2024
FSB secretary general John Schindler said that the watchdog is examining the changing nature of deposit dynamics along with the roles of social media and new technologies including smartphones
Posted: 23/01/24
UnionBank, a universal bank in the Philippines, has partnered with US cloud enterprise data management company Informatica to support its cloud migration as part of its digital transformation strategy.
Posted: 22/01/2024
A report by ResearchAndMarkets.com suggests that while card payments still dominate the region, alternative payments like those made from digital wallets are on the rise.
Posted: 22/1/2024
Based on new research carried out by the foreign exchange firm, it said that HSBC charges the highest of all the major High Street banks, with a 3.7 per cent "hidden mark-up".
Posted: 22/1/2024
One of the key demands is for ING to cut its own emissions in half by 2030 from its 2019 levels and that it stop cooperation with “polluting companies”
Posted: 22/01/24
The new tracker automatically categorises all outgoings, showing them as a percentage of total spend.
Posted: 19/1/2024
Payhawk, a Bulgarian spend management platform, has been granted an Electronic Money Institution (EMI) Licence in the UK by the Financial Conduct Authority (FCA).
Posted: 19/01/2024
Citi said that the new company, Cinergy, will offer “a broad range of private credit solutions to companies”, and invest across multiple asset classes
Posted: 19/01/24
The finance minister has plans to hold a meeting with the chief executives of the UK’s largest banks about their lending capabilities, according to reports.
Posted: 19/1/2024
Dutch Buy Now, Pay Later service Billink has raised €29.5 million from Varengold bank.
Posted: 18/01/2024
The UK bank’s fraud team sampled 100 Facebook Marketplace posts on their feed – including ads for cars, watches, games, air fryers, and handbags – finding that 34 per cent were scams once the seller used tactics known to be commonly used by purchase fraud criminals.
Posted: 18/1/2024
Speaking to Parliament's cross-party Treasury Committee, FCA executive director Sarah Pritchard said that the watchdog would survey the wholesale banking and insurance market to determine the level of misconduct, how it was detected and measures taken to resolve any issues
Posted: 18/01/24
Sainsbury's has announced plans for a phased withdrawal from its core banking business.
Posted: 18/1/2024
Confused.com said that British drivers now pay £995 on average for their cover.
Posted: 17/1/2024
The move will see the identity verification platform support the launch of Zorrz's BlueAccess Card, a hybrid credit card specifically designed for immigrants, individuals with past challenges, students, those with learning or physical disabilities, and other groups currently excluded from mainstream credit.
Posted: 17/1/2024
JPMorgan Chase has led a $300 million funding round in Quantinuum, an integrated quantum computing company.
Posted: 17/01/2024
According to the SEC’s order, from March 2020 through July 2023, JPMS regularly asked retail clients to sign confidential release agreements if they had been issued a credit or settlement from the firm of more than $1,000
Posted: 17/01/24
The Financial Conduct Authority (FCA) has established a new working group focused on building capability in sustainable finance across the financial advice industry.
Posted: 16/1/2024
The Danish bank is launching a new modular trading platform that will be integrated with existing systems.
Posted: 16/1/2024
Mastercard has announced it is developing an “inclusive” generative AI (GenAI) tool to support small business owners.
Posted: 16/01/2024
The company revealed that its recruitment drive had seen its IT workforce increase to 27,500 globally as it continues its digital transformation
Posted: 16/01/24
A report from Boston Consulting Group calls on banks to create a strategy that boosts growth, dramatically improves productivity, and makes banks more appealing to investors in order to roughly double current valuations and improve price-to-book ratios to an average of 1.25.
Posted: 15/1/2024
ClearBank has appointed Paul Staples as group head of embedded banking and Nick Ford as group head of channels and alliances.
Posted: 15/01/2024
During the fourth quarter of 2023, there was a 42 per cent drop in job vacancies in the capital, the sharpest decline since the global financial crisis in 2008.
Posted: 15/1/2023
The International Monetary Fund (IMF) has warned that AI will affect almost 40 per cent of jobs around the world, in a move that could simultaneously boost growth and deepen inequality.
Posted: 15/01/2024
Following its worst quarter in 14 years, Citigroup chief exec Jane Fraser has said that the bank plans to cut 20,000 jobs over the next two years
Posted: 15/01/24
The company, first launched in 2003, aims to provide access, equality and inclusion to financial products, services and experiences for "those that need it the most".
Posted: 12/1/2024
Around 91 per cent of financial services companies are either assessing AI or already using it, according to a new report from Nvidia.
Posted: 12/01/2024
The Danish bank will progressively implement an engagement banking platform across its digital channels over the next few years.
Posted: 12/1/2024
The new company, dubbed Commerz Globalpay, will offer digital payment solutions to small and medium size business customers across Germany
Posted: 12/01/24
HM Revenue and Customs (HMRC) has cautioned that anyone with cryptoassets must declare any income or gains above the tax-free allowance on a tax return.
Posted: 11/01/2024
Investment in the global FinTech industry dropped by 48 per cent last year to $51.2 billion compared to 2022, when funding reached around $99 billion.
Posted: 11/01/2024
NatWest Group is introducing lending for high growth businesses based on the value of their intellectual property (IP).
Posted: 11/1/2024
The small teams only contain a total of 20 staff, but serve a client base of ultra-wealthy individuals who have a primary or secondary residence in the picturesque Swiss locales
Posted: 11/01/24
Insurance broker Marsh has launched ReadyCell, an AI-powered solution enabling organisations to rapidly setup their own Protected Cell Company (PCC).
Posted: 10/01/2024
HSBC Innovation Banking has provided a $40 million refinancing package for SaaS data protection company Keepit in partnership with The Export and Investment Fund of Denmark (EIFO).
Posted: 10/01/2024
Documents from a court in Illinois – first reported by local publication the Cook County Record – outline a complaint from plaintiff Tina Haralampopoulos which alleges that Revolut has been unlawfully collecting, using and storing sensitive biometric data.
Posted: 10/1/2024
De Vusser will succeed Manny Maceda from 1 July, with the incumbent chief exec currently serving his second three-year term at the company’s helm
Posted: 10/01/24
Citi has taken part in a £25 million Series A funding round for UK FinTech Zilo, a company specialising in asset and wealth management software.
Posted: 9/1/2024
The Swiss National Bank (SNB) expects to report a loss of three billion Swiss Francs (CHF) ($3.54 billion) for its 2023 financial year.
Posted: 09/01/2024
HSBC Asset Management (HSBC AM) has led a €12 million Series A funding round for Unbox, the provider of infrastructure for programmable exchange of value.
Posted: 09/01/2024
The company on Monday said that Gary Davess has joined as director of insurance, and that David Telfer has been appointed head of commercial, insurance broking
Posted: 09/01/24
The CFPB proposal would subject companies like Apple, Amazon, Google, Meta and others to the same supervision imposed on banks
Posted: 09/01/24
Despite Sandbach having a population of around 18,000 people, Nationwide is now the only branch in the town following the closure of NatWest last year.
Posted: 8/1/2024
Coca, which provides cryptocurrency wallets, has collaborated with Wirex, a money app and card provider, to launch what the partnership claims is the world’s first multi-party computation (MPC) wallet with a linked non-custodial debit card.
Posted: 08/01/2023
The Future of Financial Intelligence Sharing (FFIS) has warned that G20-led plans to reform cross-border payments by 2027 threatens to enable fraud and money laundering and remove a fundamental part of existing processes for ensuring economic crime security.
Posted: 08/01/2024
Speaking to Bloomberg TV, Eugene Qian said that the bank wants to “do more” in China and that the country represents a key strategic global market
Posted: 08/01/24
Eden has more than 30 years' experience in financial services, having held roles spanning audit, operational, financial, and strategic at PwC and Morgan Stanley.
Posted: 5/1/2024
The use of cash machines in the UK has risen for the second year in a row according to new data from Nationwide.
Posted: 05/01/2024
The Development Bank of Japan (DBJ) has invested in the third fund of British venture capital firm 4BIO Capital.
Posted: 05/01/2024
Citigroup reportedly has plans to create a wholly owned China-based investment banking unit by the end of 2024.
Posted: 05/01/2024
Voegeli joins from CIBC Capital Markets where he was head of Global Diversified Industries investment banking
Posted: 05/01/24
BBVA has given hundreds of its staff generative AI (GenAI) training through a new in-house competition.
Posted: 4/1/2024
Buy Now Pay Later (BNPL) firm Klarna has announced that Matthew Miller will join the boards of Klarna Holding and Klarna Bank subject to regulatory approval.
Posted: 04/01/2024
Almost a third of UK 18 to 34 year olds have been charged late payment fees when using Buy Now, Pay Later (BNPL) services, according to new research.
Posted: 4/1/2024
The announcement comes two months after Baba departed Goldman following 12 years of service at the firm as its chief Japan economist
Posted: 04/01/24
Helen Bierton has announced that she taken up the role of everyday banking director at Lloyds Banking Group.
Posted: 03/01/2023
Chase has announced a new partnership with UK debt advice charity StepChange.
Posted: 3/1/2024
According to Sky News, HSBC has reportedly tabled an indicative offer for the supermarket’s retail banking business
Posted: 03/01/24
The European Central Bank (ECB) has announced plans to carry out a cyber resilience stress test on 109 directly supervised banks in 2024.
Posted: 3/1/2024
UK neobank OakNorth has appointed Lord Adair Turner as its new chairman.
Posted: 2/1/2023
Over 8,000 bonds were issued in 2023 on the Vienna Stock exchange, breaking the previous record set in 2021 of 7,082.
Posted: 02/01/2024
HSBC reportedly has plans to launch a new international payments platform called Zing.
Posted: 2/1/2024
The sale of the HSBC Continental Europe (HBCE) to My Money Group-owned Crédit Commercial de France (CCF) was first announced in June 2021 at a nominal price of €1
Posted: 02/01/24
Walmart has introduced a Buy Now, Pay Later (BNPL) option at its self-checkout kiosks in 4,500 stores across the US.
Posted: 21/12/2023
In a rare joint statement, the bodies issued tougher liquidity management guidance for asset managers of open-ended investment funds
Posted: 21/12/23
As the end of another exciting year for the financial sector comes to a close, FStech takes a look at the site’s most-read stories of 2023
Posted: 21/12/2023
From the explosion of generative AI (GenAI) to Open Banking payments reaching record highs, 2023 was a busy and exciting year for innovation and technology in financial services.
Posted: 21/12/2023
In April this year, wealth management platform FNZ and Virgin Money partnered to create a digital solution aimed at making investments more accessible and straightforward for UK retail investors.
Posted: 20/12/2023
Dutch neobank bunq has launched a generative AI (GenAI) assistant for its users to help them carry out a range of tasks.
Posted: 20/12/2023
The regulator said that the reimbursement limit is in line with the maximum award the Financial Ombudsman Service can make when considering complaints.
Posted: 20/12/2023
On Tuesday, the bank said that the team had grown to 24 people this year, with the expanded team increasing its coverage of US stock markets
Posted: 20/12/23
In a new report, the organisations warn that reassessing and repricing climate risk could create financial instability through numerous channels with high exposure to climate-related risk.
Posted: 19/12/2023
Visa has expanded its FinTech Fast Track programme to allow companies to connect to its real-time money movement platform, Visa Direct.
Posted: 19/12/2023
Goldman Sachs has appointed Osmin Rivera as its co-head of Latin America
Posted: 19/12/23
Customers trying to make a bank transfer will be asked if they have seen the item in person.
Posted: 19/12/2023
The commissioner has responsibility for independently reviewing complaints about the UK’s financial services regulators and the Bank of England.
Posted: 18/12/2023
In a class action complaint filed by US beverage business Mirage Wine & Spirits, the company accuses the three firms of deliberately dominating the market to impose inflated fees on merchants.
Posted: 18/12/2023
The UK challenger bank on Friday said that it had scrapped its plans two months after it began exploring a sale, citing market conditions
Posted: 18/12/23
Visa is to acquire a majority stake in Mexican payments processor Prosa.
Posted: 18/12/2023
AXA UK & Ireland has announced the appointment of Alain Zweibrucker as chief executive of AXA Retail.
Posted: 15/12/2023
Fnality, the UK organisation developing DLT-based wholesale payment systems, has completed its first live blockchain payments in sterling using an account at the Bank of England.
Posted: 15/12/2023
Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.

Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.

Click here to read the 2023 State of the Phish report from Proofpoint.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.

Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.