Latest News
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Payment Systems Regulator could be ‘scrapped by government’
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Nexi expands Klarna partnership
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Embedded finance still huge ‘untapped’ opportunity, say experts at top banks
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The AA partners with NatWest Boxed to launch savings accounts and loans
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BNP Paribas Personal Finance remains in West Midlands with opening of new headquarters
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Bybit experiences $1.5bn hack
Archive News
Embedded finance experts at major banking groups BBVA and JP Morgan have said that it is still a huge untapped opportunity for the financial services market.
Posted: 25/2/2025
Italian PayTech Nexi has expanded its partnership with Klarna
Posted: 25/02/2025
The reports come after business secretary Jonathan Reynolds suggested that there could be changes to the UK's wider regulatory framework earlier this year.
Posted: 25/2/2025
The finance provider said that its decision to stay in the West Midlands and relocate to a new headquarters was a decision rooted in "strategic forecasting" based on its ambitious growth plans.
Posted: 24/2/2025
The new integration, which will give users access to pension management tools directly within the ClearScore app and website, will be available from this month.
Posted: 24/2/2025
Cryptocurrency exchange Bybit has lost around $1.5 billion following what it calls "the worst hack in history."
Posted: 24/02/2025
The AA has partnered with NatWest’s banking-as-a-service (BaaS) arm as it looks to launch a range of financial services, including savings accounts and personal loans
Posted: 24/02/2025
UK FinTech Capital on Tap, which provides business credit cards, has secured two major funding facilities totalling £750 million.
Posted: 21/2/2025
Canadian FinTech Nuvei has boosted its leadership team with the appointment of Moshe Selfin and Chad Gerhardstein as chief product officer and chief risk and compliance officer respectively
Posted: 21/02/2025
The Securities and Exchange Commission (SEC) has announced the formation of the Cyber and Emerging Technologies Unit (CETU) to focus on combatting cyber-related misconduct and to protect retail investors from bad actors in the emerging technologies space.
Posted: 21/02/2025
Four global banks have agreed to pay fines totalling over £100 million after an investigation by the Competition and Markets Authority (CMA) found traders had shared sensitive information about UK government bonds
Posted: 21/02/2025
Goldman Sachs, JP Morgan, CommBank, and ANZ drive 35 per cent of all documented banking AI use cases, according AI benchmarking platform Evident.
Posted: 20/2/2025
Mastercard has launched One Credential, a service which will allow consumers to pay in multiple ways according to their preferences.
Posted: 20/02/2025
Deutsche Bank has hired Alison Harding-Jones as global head of origination and advisory and co-head of the investment bank, replacing Mark Fedorcik who is stepping down after 30 years in the role
Posted: 20/02/2025
HSBC has delayed key parts of its climate goals by 20 years, pushing its net zero emissions targets from 2030 to 2050, while also proposing changes to its chief executive's bonus plan that could increase potential pay by 43 per cent
Posted: 20/02/2025
Between 2020 and 2023, Radford served as chief executive of Revolut, in which time the value of the company jumped from $5.5 billion to $33 billion.
Posted: 19/2/2025
Mastercard has launched a suite of tools designed to help financial providers to meet the needs of middle market customers.
Posted: 19/02/2025
The bank said the plan, dubbed ‘Cosmos’, will see it apply generative AI to its business network to boost customer service, revamp current channels, and develop new business, service and operational capabilities
Posted: 19/02/2025
Britain's financial markets will soon adopt faster settlement periods for securities trades, as Chancellor Rachel Reeves confirmed the UK will move to a 'T+1' standard from 11 October 2027
Posted: 19/02/2025
Visa has rolled out its Tap to Add Card service in Ukraine, South Africa and Georgia
Posted: 18/02/2025
NatWest has announced five FinTechs it has selected to join its Fintech Growth Programme.
Posted: 18/02/2025
HSBC has laid off approximately 40 investment bankers in Hong Kong, including four managing directors, as part of a wider cost-cutting initiative under the leadership of chief executive officer Georges Elhedery
Posted: 18/02/2025
Despite this, the UK still attracted more funding than those in France, Germany, China, India, Brazil and Canada combined.
Posted: 18/2/2025
Standard Chartered is establishing a joint venture with Web3 business Animoca Brands and telecoms giant HKT as the bank looks for approval to launch a Hong Kong dollar-backed stablecoin in the country.
Posted: 17/2/2025
BBVA has updated its AI-powered virtual assistant Blue to include account and card management capabilities as the bank seeks to provide a more personalised customer experience
Posted: 17/02/2025
Barclays has strengthened its corporate banking operations across Asia Pacific and the Middle East with two strategic senior appointments in newly created positions, both based in Singapore
Posted: 17/02/2025
Former Credit Suisse staff who moved to UBS following last year's rescue merger can still take paid sabbaticals of up to three months, while their UBS colleagues cannot access the same benefit
Posted: 17/02/2025
The move comes as new HSBC chief executive Georges Elhedery pushes ahead with the bank's wider strategy to streamline costs and improve organisational efficiency.
Posted: 14/2/2025
PayPal Ventures and Quona Capital have co-led a $18.5 million Series A funding round in treasury operating FinTech Finmo with participation from Citi Ventures.
Posted: 14/02/2025
Mastercard has rolled out an AI- powered anti-money laundering service to help tackle financial crime in the Asia Pacific region
Posted: 14/02/2025
Spanish banking giant Santander has firmly rejected suggestions that its UK business is for sale, following reports of early-stage discussions with NatWest about a potential deal for its British retail operations
Posted: 14/02/2025
A new partnership between FIS and Affirm will enable banks to offer Buy Now, Pay Later (BNPL) via debit cards
Posted: 13/02/2025
Banking and brokerage company Charles Schwab has expanded 24-hour trading to all its international customers including those in the UK.
Posted: 13/02/2025
The Hong Kong branch of London-headquartered bank will be the asset management firm's digital asset service provider, with Standard Chartered Trustee (Hong Kong) acting as the open-ended fund company custodian for the fund.
Posted: 13/2/2025
German lender Commerzbank has announced plans to cut 3,900 jobs by 2028 and unveiled more ambitious financial targets as it seeks to fend off takeover advances from Italian bank UniCredit
Posted: 13/02/2025
Al Rayan Bank has announced it is implementing a new, fully-fledged Islamic core banking solution for customers in Qatar as part of its wider digital transformation.
Posted: 12/2/2025
Bitpanda has been granted regulatory approval by the Financial Conduct Authority (FCA) to expand its operations in the UK.
Posted: 12/02/2025
JP Morgan Payments, the world’s largest merchant acquirer, has signed an agreement with Klarna to expand payments options for its customers
Posted: 12/02/2025
Sydney-based financial services firm AMP Limited has partnered with Engine by Starling, the SaaS subsidiary of the UK neobank, for the launch of a new digital banking app
Posted: 11/02/2025
US trading platform Robinhood has announced that it will launch trading options for its UK customers.
Posted: 11/02/2025
Hundreds of demonstrators gathered outside the Consumer Financial Protection Bureau (CFPB) headquarters in Washington on Monday, protesting the agency's sudden suspension of operations under acting director Russell Vought
Posted: 11/02/2025
The move comes a few weeks after Barclays faced a major technical glitch which impacted thousands of customers for up to three days.
Posted: 11/2/2025
The Reserve Bank of India (RBI) is introducing new exclusive ‘.bank.in’ domains for banks in a bid to combat cyber fraud
Posted: 10/02/205
The trade association says that while Open Banking in the UK has demonstrated the transformative potential of secure data-sharing frameworks, there are still barriers to the roll out of a 'smart data' economy.
Posted: 10/2/2025
Almost 20,000 financial promotions were withdrawn or changed in 2024 following action from the Financial Conduct Authority (FCA), nearly double the amount in 2023.
Posted: 10/02/2025
The acting director of America's consumer financial watchdog has ordered the agency to cease operations and cut funding, marking a dramatic curtailment of oversight of the US financial sector
Posted: 10/02/2025
The number of UK adults using a digital-first neobank for financial services has grown from 16 per cent in 2018, to 50 per cent at the end of 2024, according to new research.
Posted: 7/2/2025
BMO, the eighth largest bank by assets in North America, has joined the IBM Quantum Network.
Posted: 07/02/2025
London-based Standard Chartered has launched an AI-powered video column for clients in Asia as it seeks to provide better insights on the foreign exchange market
Posted: 07/02/2025
Europe's largest bank HSBC is finalising plans to boost chief executive officer Georges Elhedery's maximum pay package to over £15 million, marking a significant overhaul of executive compensation following the UK's removal of EU bonus caps
Posted: 07/02/2025
Commonwealth Bank of Australia (CommBank) has renewed its partnership with Amazon Web Services (AWS), signing a five-year strategic partnership
Posted: 06/02/2025
Money Squirrel's Open Banking platform, which aims to help businesses manage their finances and cash flow by depositing money into savings accounts, launched in the UK last month.
Posted: 6/2/2025
CaixaBank Tech aims to bring together the banking group's specialised technology and systems teams to drive projects for technological transformation.
Posted: 6/2/2025
A senior Financial Conduct Authority (FCA) leader has warned that poor workplace culture in financial services can spread as rapidly as seasonal illness, potentially damaging entire organisations
Posted: 06/02/2025
Based on a survey of approximately 600 global financial services professionals about the trends, challenges, and opportunities for accelerated computing and AI, Nvidia’s fifth annual state of AI in financial services report shows services institutions are particularly driven to invest in AI-powered fraud detection and cybersecurity tools.
Posted: 05/02/2025
Aldermore Bank is launching new savings notice accounts for small businesses and modernising its existing savings services.
Posted: 05/02/2025
India's finance ministry has banned employees from using artificial intelligence tools including ChatGPT and DeepSeek for official work, citing risks to government data security
Posted: 05/02/2025
MPs will investigate the potential impact of the heightened use of AI across financial services in the UK.
Posted: 5/2/2025
FinTech TransferGo has launched a new multi-currency corporate account for companies based in the UK and EU
Posted: 04/02/2025
Aviva Investors has launched a venture and growth capital fund which aims to give investors better access to early-stage companies and technologies.
Posted: 04/02/2025
JP Morgan, HSBC and Goldman Sachs have been named the top three quantum innovators in a new index.
Posted: 4/2/2025
Standard Chartered has named Maria Ramos as its next group chair, succeeding Jose Viñals who will step down after nearly nine years in the role.
Posted: 04/02/2025
Barclays Bank has confirmed that its systems are working after a two-day outage which began on Friday 31 January.
Posted: 03/02/2025
Napier AI, a company specialising in artificial intelligence (AI) powered financial crime compliance solutions, has secured a majority investment from Marlin Equity Partners
Posted: 03/02/2025
Legal scholars and constitutional experts have raised alarm over the unprecedented granting of US Treasury payment system access to the unelected Elon Musk, warning it may violate fundamental separation of powers principles
Posted: 03/02/2025
The move follows Investec's recent expansion into electronic trading.
Posted: 3/2/2025
Starling Bank has appointed Joe Gordon as chief operating officer subject to regulatory approval.
Posted: 31/01/2025
Goldman Sachs partner Ryan Nolan is departing the bank after 13 years to join merchant bank BDT & MSD Partners, where he will co-lead the technology practice alongside former Kleiner Perkins partner Juliet de Baubigny
Posted: 31/01/2025
Lloyds Banking Group has hired Magdalena Lis as head of artificial intelligence (AI), effective 3 February
Posted: 31/01/2025
Microsoft has entered into a seven-year partnership with Euroclear to provide the capital markets infrastructure with AI and cloud tools to improve operational efficiency and customer service
Posted: 30/01/2025
The social media company owned by US president Donald Trump has launched a financial services and technology company to invest in cryptocurrency and exchange traded funds (ETFs).
Posted: 30/01/2025
De Nederlandsche Bank (DNB) has imposed two administrative fines totalling €20 million on state-owned lender de Volksbank for serious failings in risk management and anti-money laundering controls
Posted: 30/01/2025
In recent years, the Spanish bank has been actively seeking out engineers, mathematicians, and experts across AI, cybersecurity and data management to join its workforce.
Posted: 30/1/2025
The Czech National Bank (CNB) is exploring the possibility of storing billions of dollars worth of bitcoin in its reserves, according to a report by the Financial Times.
Posted: 29/01/2025
American multinational manufacturer Clorox has appointed Luc Bellet as its new chief financial officer, replacing Kevin Jacobsen after almost eight years in the role
Posted: 29/01/2025
HSBC has selected Delta Capital to deliver OTC derivatives confirmation and settlement services globally under a multi-year agreement.
Posted: 29/1/2025
US Bancorp has announced that president Gunjan Kedia will become its new chief executive officer on 15 April, marking a historic milestone as the first woman to lead the Minneapolis-based lender in its history
Posted: 29/01/2025
Dutch bank ING has agreed to sell its Russian business to Moscow-based firm Global Development JSC, marking its full exit from the Russian market nearly three years after the country’s invasion of Ukraine
Posted: 28/01/2025
The NatWest Group has made a minority investment in Serene, an early-stage AI platform which aims to tackle financial vulnerability.
Posted: 28/01/2024
Wells Fargo has rolled out a new platform in a bid to boost its real-time FX global payment capabilities for regional and community banks
Posted: 28/01/2025
The company will use the end-to-end platform to roll out a fully audited, rules-driven reconciliation process, with the firm aiming to provide “complete transparency” for Client Asset Sourcebook (CASS) auditors and internal stakeholders.
Posted: 28/1/2025
Visa has partnered with FinTech DealMe to introduce cross-border card instalment services to Vietnamese and international consumers as it seeks to meet the growing demand for cross-border shopping and flexible payment options
Posted: 27/01/2025
European cryptocurrency platform Bitpanda has secured a Markets in Crypto Assets Regulation (MiCAR) licence from the German regulator BaFin.
Posted: 27/01/2025
Card-accepting merchants in the UK have been urged to join a multi-billion class action against Visa and Mastercard over “excessive” fees, with only two weeks left to opt-i
Posted: 27/1/2024
Swiss wealth manager Julius Baer announced today that Romeo Lacher, chairman of the board of directors, will not seek re-election at the company's annual general meeting on 10 April 2025
Posted: 27/01/2025
Starling Bank has appointed Raghu Narula as chief banking officer to strengthen its leadership and banking capabilities.
Posted: 24/01/2024
Visa has invested in Moniepoint, a Nigerian payments and banking platform for businesses
Posted: 24/01/2025
The government-owned organisation currently serves 820,000 customers across its personal and business banking, wealth management, and capital markets businesses, with 267 branches in the Canadian province.
Posted: 24/1/2025
The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) are establishing an independent company to advance variable recurring payments (VRPs) in the United Kingdom
Posted: 24/01/2025
Overall, it predicts it will receive more than 37,000 fraud and scams complaints over the 12-month period, up from the 33,000 forecast to be recorded by the end of this financial year.
Posted: 23/1/2025
Deutsche Bank has partnered with business services platform Yonyou to help Chinese financial services companies expand globally.
Posted: 23/01/2025
The Dutch government has moved to limit the expansion of "buy now, pay later" (BNPL) services in physical retail outlets, citing concerns about the financial risks these schemes pose to consumers
Posted: 23/01/2025
HSBC has announced the closure of its international payments app Zing, marking another setback in the bank's fintech expansion efforts, just 12 months after its launch
Posted: 23/01/2025
Money transfer app Venmo has partnered with US airline JetBlue to offer customers secure payment options when booking flights directly with JetBlue online.
Posted: 22/01/2025
Marco Argenti revealed that Goldman has rolled out its GS AI assistant to 10,000 bankers, traders and asset managers, with plans to expand this to all the bank’s knowledge workers this year.
Posted: 22/1/2025
Royal Bank of Canada (RBC) has launched an end-to-end generative AI (genAI) tool in designed to optimise operations and increase security in the financial services sector
Posted: 22/01/2025
The US Securities and Exchange Commission (SEC) has established a new cryptocurrency task force aimed at developing comprehensive regulations for digital assets, marking a significant shift from its previous enforcement-focused approach
Posted: 22/01/2025
The contact centre, credit risk assessment, economic crime monitoring, its virtual assistant 'Arti', and CO2 emissions reporting are examples of where the technology could be expanded to.
Posted: 21/1/2025
FinTech myPOS has acquired French cash register Toporder as it looks to strengthen its position in the region
Posted: 21/01/2025
The Bank of Ireland’s fraud prevention team received over 10,000 calls from its customers from 23 December to 29 December and took more than 550 calls on Christmas day alone.
Posted: 21/01/2025
President Donald Trump has appointed Travis Hill as acting chair of the Federal Deposit Insurance Corporation (FDIC), signalling a significant shift towards lighter-touch regulation at one of America's key banking watchdogs
Posted: 21/01/2025
TransUnion has signed an agreement to acquire a majority stake in Trans Union de Mexico, the consumer credit business of Buró de Crédit, for $560 million.
Posted: 20/01/2024
Payments platform Acquired.com has appointed Lee Clifton as chief operating officer
Posted: 20/01/2025
The move comes as Allica looks to become a leading player in the bridging finance market and replicate its success in both commercial mortgages and asset finance.
Posted: 20/1/2024
Britain's financial regulator has unveiled sweeping reforms to boost economic growth but warned the new approach is likely to result in more companies failing and increased risks for consumers
Posted: 20/01/2025
Amazon has acquired Indian Buy Now, Pay Later (BNPL) specialist Axio, formerly known as Capital Float
Posted: 17/01/2025
Revolut is launching in-app calls to enable customers to identify impersonation scams and make communication between customer support and account holders safer and more reliable
Posted: 17/01/2025
The Bank of England has announced a further delay to the implementation of crucial post-financial crisis banking reforms, pushing back the deadline to January 2027 amid uncertainty over US plans and growing pressure to support economic growth
Posted: 17/01/2025
JN Bank UK, part of the Jamaica National Bank group, has announced the appointment of Chris Waring as chief executive.
Posted: 16/01/2025
Gradient Ventures, Google's early-stage AI fund, has led a $3 million funding round for AI start-up Arva AI
Posted: 16/01/2025
Apple is in discussions with Barclays and Synchrony Financial to potentially take over its credit card partnership from Goldman Sachs, as the Wall Street bank continues to scale back its consumer finance operations, according to reporting from Reuters
Posted: 16/01/2025
ClearBank has partnered with global payments and financial business platform Airwallex to increase Airwallex’s services in the UK.
Posted: 15/01/2024
Italy's largest bank Intesa Sanpaolo has completed its first proprietary investment in bitcoin, buying €1 million worth of the cryptocurrency as part of what the bank’s chief executive described as a “test."
Posted: 15/01/2025
Payment processing giant Mastercard has agreed to pay $26 million to settle claims that it systematically underpaid female, Black, and Hispanic employees across the US, according to court documents filed on Tuesday
Posted: 15/01/2025
In the first swap, which will take place next month, they will exchange senior staff with expertise in emerging payments and digital assets.
Posted: 15/1/2025
Goldman Sachs has participated in a CAD $70 million funding round for Canadian FinTech firm Float Financial.
Posted: 14/01/2024
American blockchain analysis firm Chainalysis has acquired AI-powered fraud detection solution specialist Alterya
Posted: 14/01/2025
Laura Barlow, Barclays’ group head of sustainability, has stepped down to pursue other opportunities, marking a notable departure as the financial sector faces growing scrutiny over its climate commitments
Posted: 14/01/2025
Co-founder and chief executive of Revolut Nik Storonsky has reportedly landed a £350 million windfall following the sale of shares in the British neobank.
Posted: 14/1/2025
Pakistan's Bank Alfalah has acquired a 9.9 per cent stake in MENAP-focused FinTech Jingle Pay to strengthen its position in the region
Posted: 13/01/2025
Zilch Travel enables its customers to search, book, and pay for holidays, hotels and flights via the company's app.
Posted: 13/1/2025
Senior bankers at Lloyds Banking Group could see their bonuses reduced if they fail to meet requirements for office attendance of at least two days per week
Posted: 13/01/2025
Job vacancies in London's financial services sector fell dramatically in the final quarter of 2024, highlighting ongoing challenges in the City's employment market
Posted: 13/01/2025
BlackRock, the world's largest asset manager, has withdrawn from a major climate change initiative amid mounting pressure from Republican politicians and regulatory scrutiny
Posted: 10/01/2025
Japanese financial services firm Nomura Holdings has appointed Sudhir Nemali as managing director and chief operating officer of its international wealth management business, as the company seeks to strengthen its position in Asia's wealth management sector
Posted: 10/01/2025
Uruguayan FinTech dLocal has been licensed as a payment institution in the UK by the Financial Conduct Authority (FCA)
Posted: 10/01/2025
The move, which recognises the organisation as an industry standard setting body for five years, comes after the US Consumer Financial Protection Bureau released its Personal Financial Data Rights rule in October 2024.
Posted: 10/1/2025
Following a study of chief information and technology officers, the data research arm of Bloomberg said that by 2030 executives expect a net three per cent of their employees to be axed.
Posted: 9/1/2025
IT company TransUnion is to buy Monevo, a financial technology, pre-qualification and credit distribution platform
Posted: 09/01/2025
Lloyd's of London has announced that John Neal will step down as chief executive officer in 2025 after more than six years leading the world's oldest insurance market, to take up a new role at insurance broker Aon
Posted: 09/01/2025
Optimism among Britain's financial services firms has dropped at its sharpest pace in two years, according to the latest Confederation of British Industry (CBI) survey, as concerns mount over investment costs following the Autumn Budget
Posted: 09/01/2025
The Financial Ombudsman Service has appointed Marc Harris as chief operating officer.
Posted: 8/1/2025
Visa has launched a B2B travel payments solution programme in partnership with UAE-based spend management platform Qashio in a deal worth £22 million
Posted: 09/01/2025
Portugal's Novo Banco has dismissed its chief risk officer Carlos Brandão following an internal investigation into suspicious financial transactions in his personal dealings, with the matter now under criminal investigation
Posted: 08/01/2025
JPMorgan Chase, the largest US bank, has announced its departure from the Net Zero Banking Alliance (NZBA), marking the end of Wall Street's mass exodus from the key climate group
Posted: 08/01/2025
She is the first woman chief executive in the region in more than a decade and the second the bank's 150-year history.
Posted: 7/1/2025
New Open Banking platform Money Squirrel has launched in the UK
Posted: 07/01/2025
Lloyds Bank and Mastercard are to lead a new Centre for Finance, Innovation and Technology (CFIT) coalition which will develop SME-focused solutions, including an SME finance education tool and a digital marketplace.
Posted: 07/01/2025
British merchant banking group Close Brothers has announced that Adrian Sainsbury will step down from his position as group chief executive officer, with Mike Morgan appointed as his permanent replacement, subject to regulatory approval
Posted: 07/01/2025
Decentralised cryptocurrency protocol stablecoin Frax Finance has launched a new stablecoin, frxUSD, which will run on BlackRock's USD institutional Digital Liquidity Fund (BUIDL)
Posted: 06/01/2025
OCBC says it has become the first bank in Singapore to launch the sale of bespoke tokenised bonds to corporate accredited investors with assets exceeding S$10 million.
Posted: 6/1/2024
Fresh investigations into Credit Suisse's World War II-era accounts have uncovered extensive new evidence of Nazi-linked customers that the bank failed to disclose during previous probes, according to documents reviewed by US Senate investigators
Posted: 06/01/2025
Thomson Reuters has acquired accounting technology company SafeSend for $600 million in cash.
Posted: 06/01/2024
China is set to implement significant monetary and fiscal changes in 2025, including a substantial increase in treasury bond funding and an expected interest rate cut, as policymakers move to shore up the world's second-largest economy
Posted: 03/01/2025
WhatsApp has been granted permission by the National Payments Corporation of India (NPCI) to roll out its payment service to all users in India.
Posted: 03/01/2024
Morgan Stanley has become the latest major Wall Street bank to withdraw from a key climate banking coalition, following similar moves by Citigroup and Bank of America earlier this week
Posted: 03/01/2025
A group of cryptocurrency advocates has launched an initiative that could require the Swiss National Bank (SNB) to hold Bitcoin as part of its reserves, marking a significant push to integrate digital currencies into traditional central banking
Posted: 02/01/2025
Chinese government hackers have infiltrated sensitive offices within the US Treasury Department, including the unit responsible for administering economic sanctions against foreign entities, American officials revealed
Posted: 02/01/2025
Russian President Vladimir Putin has instructed the government and the country’s largest bank, Sberbank, to collaborate with China on artificial intelligence (AI), according to a Reuters report.
Posted: 02/01/2025
The Vienna Stock Exchange saw a rise in equity turnover and debt listings rose to a record high during 2024.
Posted: 02/01/2025
The Consumer Financial Protection Bureau (CFPB) has sued JP Morgan, Bank of America, and Wells Fargo for failing to protect consumers from “widespread fraud” taking place on payment network Zelle.
Posted: 23/12/2024
African e-commerce giant Jumia has integrated FinTech PalmPay's mobile wallet as a payment method on its platform
Posted: 23/12/2024
As the end of another exciting year for the financial services sector comes to a close, FStech takes a look at the site’s most-read stories of 2024
Posted: 23/12/2024
From Open Banking reaching a new milestone to real-world applications of generative AI (genAI) being rolled out across the industry, 2024 was a busy and exciting year for innovation and technology in financial services
Posted: 23/12/2024
Visa has completed the acquisition of Featurespace as it seeks to boost its fraud detection services and risk-scoring solutions
Posted: 20/12/2024
ING has announced the appointment of Debbie Janeczek as its new chief information security officer (CISO).
Posted: 20/12/2024
Under existing rules, brought in across Europe when the UK was still in the EU, people buying investments are given standardised documents covering prescribed information.
Posted: 20/12/2024
Affirm has extended its partnership with financial technology platform Adyen to bring flexible payment options to more merchants in Canada.
Posted: 19/12/2024
Card issuing firm Enfuce has rolled out a payment card for Hemköp supermarkets in partnership with Swedish Banking-as-a-Service (BaaS)provider SEB Embedded and software company Humla
Posted: 19/12/2024
The Financial Conduct Authority (FCA) has extended the deadline for handling complaints about motor finance commission payments to December 2025, in a move that could lead to one of the largest financial redress schemes in UK history
Posted: 19/12/2024
As part of the plans the company is rolling out technology from Tata Consultancy Services (TCS), including a core banking tool, a digital home lending solution for mortgage origination, and a mobile mobile app.
Posted: 19/12/2024
A Lloyds Bank ad has been banned by the Advertising Standards Authority (ASA) for misleading customers about the bank’s contribution to climate change.
Posted: 18/12/2024
SME lender Allica Bank has hit £4 billion in customer deposits and £3 billion in business lending.
Posted: 18/12/2024
The move forms part of its new partnership with online British Sign Language (BSL) interpreting service SignLive
Posted: 18/12/2024
HSBC has announced a significant leadership reshuffle across its global private banking and international wealth divisions, with John Shipman appointed as interim chief executive officer of the Swiss private bank effective 1 January 2025
Posted: 18/12/2024
Morgan Stanley has integrated Wise Platform to facilitate the investment bank’s international foreign exchange settlement capabilities for its corporate clients
Posted: 18/12/2024
Global investment firm Sixth Street is investing up to USD $4 billion in Affirm
Posted: 17/12/2024
The regulator has urged these companies to work with payments firms to “close down vulnerabilities” that criminals exploit on their platforms.
Posted: 17/12/2024
JP Morgan’s EMEA head of global financial crimes compliance has said that FinTechs that fail to hire a diverse workforce could miss out on a significant pool of skills.
Posted: 17/12/2024
German insurance giant Allianz has abandoned its bid to acquire a majority stake in Singapore's Income Insurance, citing regulatory changes and government concerns about the proposed transaction
Posted: 17/12/2024
Societe Generale (SocGen) has completed the first repo transaction on public blockchain with Banque de France, the central bank and member of the Eurosystem for France
Posted: 16/12/2024
The Online Safety Act, launched by the government on Monday, will enable banks to respond more quickly to fraud, according to a Lloyds Banking Group fraud director.
Posted: 16/12/2024
The move gives businesses access to a ‘Pay Later’ service, with companies able to defer payments for up to 30 days.
Posted: 16/12/2024
Australia's corporate watchdog, the Australian Securities and Investments Commission (ASIC), has launched legal action against HSBC Australia, alleging widespread failures in protecting customers from sophisticated scams
Posted: 16/12/2024
On Friday, the regulator published the findings of its market review, revealing that neither Mastercard or Visa was subject to effective competitive constraints, which allowed the companies to raise their fees to an "unduly high level".
Posted: 13/12/2024
Visa Direct will make funds transferred to US bank accounts available within one minute or less
Posted: 13/12/2024
The Payment Systems Regulator’s (PSR) new authorised push payment (APP) fraud reimbursement rules are already changing the behaviour of scammers, the director of fraud prevention at NatWest has warned.
Posted: 13/12/2024
Nitin Prabhu joins the bank from PayPal, where he has worked for 12 years, most recently as head of product small and medium size businesses (SMBs) and financial services.
Posted: 12/12/2024
A report from The Payments Association finds that while the emissions from digital payments per transaction are small, the industry's scale makes a significant impact.
Posted: 12/12/2024
Sweden’s Financial Supervisory Authority Finansinspektionen (FI) has issued Klarna a fine of $50 million over faults in its anti-money laundering protections
Posted: 12/11/2024
Ryanair has announced the rollout of Pay by Bank App on its website.
Posted: 11/12/2024
Deutsche Bank has partnered with Singapore-based cryptocurrency exchange company Crypto.com to provide it with corporate banking services in Singapore, Australia and Hong Kong.
Posted: 11/12/2024
Global payments messaging network Swift has partnered with Google Cloud to develop anti-fraud technologies using advanced artificial intelligence (AI) and federated learning
Posted: 11/12/2024
The move will see PayPoint and card payment provider Handepay’s network of merchants combined with the bank’s merchant services to provide a comprehensive banking and payments offering to 60,000 UK small and medium sized businesses (SMEs).
Posted: 10/12/2024
The Bank of New York Mellon Corporation (BNY) has announced the appointment of Rajashree Datta as deputy chief risk officer.
Posted: 10/12/2024
Mobile payments service Vipps Mobile Pay has launched an alternative payment technology to Apple Pay on iPhone in a world-first move
Posted: 10/12/2024
The challenger said that the move would provide essential financial services to a market that has “long been underserved” by traditional banks.
Posted: 9/12/2024
The retailer has partnered with the UK Cashzone Network, a large network of independent ATMs, for the rollout
Posted: 09/12/2024
The move comes after Direct Line rejected a lower offer from its UK rival at the end of last month.
Posted: 9/12/2024
Cloud banking platform Mambu has acquired technology provider Numeral, a French provider of payment technology for banks and FinTechs, as the firm seeks to strengthen its market presence to seize new growth opportunities
Posted: 06/12/2024
Digital payments firm Checkout.com has hired Philip Symes as its new chief financial officer (CFO).
Posted: 6/12/2024
The bank said that the investment will be used to support its ongoing growth as it looks to launch a “pioneering genAI proposition” designed to reinvent how people interact with money next year.
Posted: 6/12/2024
NatWest Group’s innovation team has announced the launch of its new FinTech Growth Programme, designed to help FinTech start-ups scale through access to the bank’s resources, expertise, and networks.
Posted: 5/12/2024
Mastercard has inked a partnership with Crypto.com, enabling the firm to directly issue cards on Mastercard’s network
Posted: 05/12/2024
During a panel discussion at FinTech Connect 2024, Ishtiaq Ahmed, senior manager, emerging technology, innovation and ventures at HSBC said that the embedded ecosystem is “here to stay”, so banks and other industries, such as travel, retail, and hospitality, must learn to co-exist in the space.
Posted: 5/12/2024
On Wednesday at FinTech Connect 2024 in London, Søren Rode Jain Andreasen told delegates that genAI is still “fairly nascent”, suggesting that now is the time to train employees, put safeguards in place, and find models to address issues such as biases.
Posted: 4/12/2024
Santander Corporate & Investment Banking (Santander CIB) has partnered with private credit manager Pemberton Asset Management to launch a company focusing on providing large and mid-size organisations with supply chain inventory solutions.
Posted: 4/12/2024
Rabobank’s investment arm, Rabo Investments, has invested an undisclosed amount in cybersecurity start-upThreatFabric, joining existing investors including Motive Ventures, ABN MRO Ventures, 10x Founders, and 14Peaks Capital
Posted: 04/12/2024
Kentaro Okuda, chief executive officer of Nomura Holdings, has apologised and taken a voluntary 30 per cent pay cut after a former employee was charged with attempting to murder and rob customers in Hiroshima
Posted: 04/12/2024
Mastercard has reached an agreement in principle to settle a groundbreaking legal claim brought on behalf of approximately 46 million UK consumers, who alleged the payments company imposed unfairly high transaction fees
Posted: 04/12/2024
La Banque Postale has said that it is the first traditional bank in France to launch an “impact” bank card where deposits will be used to finance the energy renovation of housing.
Posted: 3/12/2024
Jennifer Nason, global chair of investment banking at JPMorgan Chase & Co., is set to retire early next year after nearly four decades with the Wall Street bank according to an internal memo confirmed by the bank
Posted: 03/12/2024
Zurich Insurance Group has significantly expanded its global travel insurance operations by acquiring American International Group's (AIG) personal travel insurance and assistance business for $600 million.
Posted: 03/12/2024
A study of 2,000 people shared with FStech also found that nearly 70 per cent of the UK adult population believe social media companies could do more to fight scams originating on their platforms.
Posted: 3/12/2024
The £780 million takeover of Co-operative Bank by the Coventry Building Society has been given regulatory approval, with the acquisition expected to complete on 1 January 2025.
Posted: 2/12/2024
The building society is using Experian's income and employment verification service to digitally confirm declared income for homebuyers, removing the need for applicants to provide manual income proofs, like copies of their payslips.
Posted: 2/12/2024
Mitsubishi UFJ Financial Group (MUFG) has acquired Japanese robo-advisor WealthNavi in a deal worth $664 million
Posted: 02/12/2024
HSBC Holdings is preparing to launch a search for its next chairman, with Mark Tucker expected to depart around the bank's annual meeting in spring 2026, Sky News reported.
Posted: 02/12/2024
Parents shopping at John Lewis department stores can now purchase a money tracker that aims to help children learn positive money habits
Posted: 29/11/2024
Football organisation Total Grassroots and kit manufacturer Kelme Bank have partnered with payment company GoCardless to simplify payment collection for grassroots football clubs and provide kits for their teams.
Posted: 29/11/2024
The head of UK public policy at Clearpay has said that Australia and New Zealand offer a “useful model” for the regulation of Buy Now, Pay Later (BNPL), as the government closes its consultation for upcoming legislation.
Posted: 29/11/2024
TSB Bank has announced the appointment of Marc Armengol as its new chief executive officer, marking a significant leadership transition as the bank navigates a complex business landscape
Posted: 29/11/2024
FStech can now reveal the shortlist for the FStech Awards 2025. Now in its 25th year, the FStech Awards recognise and celebrate companies which have demonstrated excellence and innovation within the UK and EMEA financial services sector.
Posted: 28/11/2024
Spendesk, the spend management platform for mid-sized businesses, has launched its own payment institution
Posted: 28/11/2024
Deutsche Bank has joined the Series B funding round of Partior, a blockchain-based FinTech network.
Posted: 28/11/2024
UniCredit has launched a €10.1 billion takeover bid for Banco BPM, Italy's third-largest bank, triggering significant controversy and raising concerns about potential job losses and strategic implications
Posted: 28/11/2024
Santander will launch the platform in 45 markets around the world, including 10 core markets for the bank, alongside additional markets related to its alliance banking partners.
Posted: 28/11/2024
NatWest has launched an advent calendar as part of a campaign to warn the public of the dangers of purchase scams and provide advice on staying safe whilst shopping during the festive season.
Posted: 27/11/2024
Starling Bank has appointed Adeel Hyder to its executive committee as managing director of SME Banking.
Posted: 27/11/2024
Companies in the UK, India, Hong Kong, Singapore, Australia, Ireland, Netherlands, France, and the US can now manage their transactions through the new payments platform, with access to a comprehensive set of services.
Posted: 27/11/2024
Celine Herweijer, group chief sustainability officer at HSBC, has announced her departure from the bank at the end of the year, sparking debate about the organisation's commitment to climate strategies
Posted: 27/11/2024
The Bank of New York Mellon Corporation (BNY) has announced the integration of the bank’s LendingLite service with its new CollateralOne for buy-side platform.
Posted: 26/11/2024
HSBC has partnered with energy supplier OVO to launch its new Buy Now, Pay Later service (BNPL) for the first time
Posted: 26/11/2024
MPs have published a new report describing the Financial Conduct Authority (FCA) as “incompetent at best, dishonest at worst” after receiving testimony unearthing poor perception of the regulator.
Posted: 26/11/2024
UniCredit has launched an unexpected €10 billion bid for domestic rival Banco BPM
Posted: 26/11/2024
Hong Kong based digital bank ZA Bank has announced it will offer cryptocurrency trading services directly to its retail users.
Posted: 25/11/2024
Revolut’s vision for 2025 includes an AI assistant, mortgages, and ATMs, co-founders Nik Storonsky and Vlad Yatsenko have revealed
Posted: 25/11/2024
The new API align tool enables banks to map internal APIs against BIAN's, score alignment and certification, and receive AI-driven recommendations on how to best align APIs to the non-profit’s standards.
Posted: 25/11/2024
Britain's Financial Conduct Authority (FCA) has fined Barclays £40 million for failing to properly disclose arrangements with Qatari entities during crucial fundraising efforts at the height of the 2008 financial crisis
Posted: 25/11/2024
Mastercard's Multi-Token Network (MTN) has connected to Kinexys Digital Payments as a payment settlement solution
Posted: 22/11/2024
Former billionaire investor Bill Hwang has been sentenced to 18 years in prison for his role in the massive fraud that led to the collapse of Archegos Capital Management, causing more than $10 billion in losses to Wall Street banks
Posted: 22/11/2024
The move aims to improve the process of managing payments to suppliers, including airlines, hoteliers, and other travel services providers.
Posted: 22/11/2024
Canadian banks are leading the way on AI, according to Alexandra Mousavizadeh, co-founder and chief executive of the Evident AI Index.
Posted: 22/11/2024
Beacon, the Canadian FinTech, has launched a digital wallet which enables immigrants to access financial services in the country.
Posted: 21/11/2024
Commerzbank has appointed Carsten Schmitt as its new chief financial officer, a strategic move as the bank navigates potential merger discussions with UniCredit
Posted: 21/11/2024
It said that the move, which forms part of a wider strategy for the Spanish bank, would enable the organisation to improve commercial and service capabilities through generative AI (genAI), while its channels and infrastructure will also be upgraded as part of the plans.
Posted: 21/11/2024
Dutch bank ING has launched a new digital tool that aims to provide a real-time credit assessment of customers and suppliers, with a particular focus on leasing companies, suppliers, business lessors, and credit insurers
Posted: 21/11/2024
Speaking about the bank’s adoption of APIs under the Banking Industry Architecture Network (BIAN) framework, van Niekerk said that it can take time for people to get on board with the adoption and implement an external marketplace for their APIs.
Posted: 20/11/2024
Google Pay has inked new partnerships with Klarna and Afterpay, as the mobile payment service seeks to expand its Buy Now, Pay Later (BNPL) offering in the UU
Posted: 20/11/2024
TSB chief technology officer Sailesh Panchal said that he hopes that “at least 25 per cent” of the organisation will be completely transformed by the end of 2025
Posted: 20/11/2024
HSBC is set to launch a flagship wealth centre in London's prestigious Mayfair district, marking a significant expansion of its Premier banking services aimed at attracting wealthy clients in Britain
Posted: 20/11/2024
Nationwide Building Society as partnered with Hewlett Packard Enterprise (HPE) to adopt private cloud.
Posted: 19/11/2024
NatWest Group has revamped its self-service banking channel as it seeks to implement next-generation self-service capabilities throughout its software and customer-facing technology
Posted: 19/11/2024
Revolut has reached 50 million customers globally and secured a UK trading licence from the Financial Conduct Authority
Posted: 19/11/2024
Mercedes-Benz Insurance Services UK is implementing a new digital platform for its car insurance subscribers.
Posted: 18/11/2024
BIAN, which was established in 2008, is a collaborative not-for-profit global network made up of banks, tech providers, consultants, and academics. The organisation aims to establish and promote a common framework for banking interoperability issues.
Posted: 18/11/2024
The UK government has published its National Payments Vision (NPV), a strategic plan that aims to boost the UK payments industry
Posted: 18/11/2024
The proposed changes include extending the time companies have to respond to customer complaints and limiting appeals against ombudsman decisions
Posted: 18/11/2024
Tandem bank has appointed Matt Dobson as chief financial officer.
Posted: 15/11/2024
Now in its twelfth year, the Payments Awards recognise and celebrate companies which have demonstrated excellence and innovation in the payments space.
Posted: 15/11/2024
Mollie said that its entry into Italy marks a strategic move into the fourth-largest e-commerce market in Europe, addressing a “fast-growing segment that remains underserved by legacy payment providers.”
Posted: 15/11/2024
PayPal has rolled out Money Pooling, a new feature that allows customers to make group purchases
Posted: 15/11/2024
Amundi, Europe's largest asset manager, has announced the acquisition of German technology company Aixigo for €149 million
Posted: 14/11/2024
Kroo Bank has announced that customer current account deposits have surpassed £1 billion.
Posted: 14/11/2024
Mastercard is planning to phase out manual card and password entry in favour of smiles and fingerprints by the end of 2030
Posted: 14/11/2024
Lloyds Banking Group has drawn criticism for its decision to end trade union recognition for thousands of its highest-paid employees, replacing established collective bargaining with management-controlled "people forums" from January 2025
Posted: 14/11/2024
The UK’s financial regulators have announced new rules designed to improve the resiliency of technology firms and other third parties providing services to financial services institutions.
Posted: 14/11/2024
Back for its eighth year, RegTech Live 2025 returns to discuss the latest developments in regulatory technology – identifying key trends, exploring emerging technologies, and hearing from senior experts on this rapidly evolving sector.
Posted: 13/11/2024
Visa Flexible Credential, which allows customers to pay from different accounts or pay flexibly using Buy Now, Pay Later (BNPL), is being launched in the US and United Arab Emirates (UAE).
Posted: 13/11/2024
NatWest Group staff will no longer be able to use WhatsApp, Facebook Messenger or Skype on their corporate devices
Posted: 13/11/2024
The tool combines bureau insights with real-time transaction data which is accessed through Open Banking, as well as statistical estimates designed to improve affordability assessments.
Posted: 13/11/2024
Spain's competition regulator has launched a more extensive review of BBVA's €12 billion hostile takeover bid for rival bank Sabadell, potentially delaying the deal's completion well into 2025.
Posted: 13/11/2024
TSB has warned shoppers be alert for purchase fraud when shopping during the festive season.
Posted: 12/11/2024
Octopus-owned embedded investment platform Seccl has appointed Prerna Goel as chief operating officer
Posted: 12/11/2024
Treasury management platform Agicap has announced €45 million in Series C funding.
Posted: 12/11/2024
The Financial Conduct Authority (FCA) has fined Metro Bank £16.7 million for failing to properly monitor billions of pounds worth of transactions for potential money laundering risks over a four-and-a-half-year period
Posted: 12/11/2024
The foreign exchange business partnered with NCR Atleo to roll out a number of new features, including contactless cash withdrawals, for machines in the UK, Netherlands, Switzerland, Germany, Italy, Czech Republic, Australia and New Zealand.
Posted: 11/11/2024
Many businesses believe that legacy banks are too slow to adapt to their needs and are seeking out alternatives, according to a new report by Revolut.
Posted: 11/11/2024
Visa has teamed up with tech conglomerate Tencent to launch a palm recognition system for digital payments in international markets
Posted: 11/11/2024
The sale reduces the state's ownership to 11.4 per cent from around 14.2 per cent
Posted: 11/11/2024
Revolut will offer users on its premium, metal and ultra paid plan subscriptions access to Uber Eats and Deliveroo rival Wolt+.
Posted: 08/11/2024
LDC, the private equity investor and subsidiary of Lloyds Banking Group, has invested in credit risk technology group LendingMetrics
Posted: 08/11/2024
An EU document seen by Reuters reveals that the Commission sent out questionnaires to retailers and payment service providers (PSPs) about the payments giants in September.
Posted: 8/11/2024
Citigroup is revamping pay for its private bankers in an attempt to boost sales of investment products and overhaul how the group's struggling wealth division interacts with its wealthy clients
Posted: 08/11/2024
Marygold & Co has partnered with banking as a service (BaaS) provider Griffin bank to facilitate the roll out of savings accounts on its money management platform.
Posted: 07/11/2024
JP Morgan has announced it is rebranding its blockchain platform Onyx to Kinexys
Posted: 07/11/2024
FStech, the premier publication for the financial technology industry, successfully hosted its Cybersecurity Live 2024 conference on Wednesday, 6 November, bringing together industry experts and financial services leaders to delve into the latest trends and strategies in cybersecurity
Posted: 07/11/2024
The new solution, called UBS Digital Cash, aims to enable the bank's clients to make cross-border payments in a more efficient and transparent way
Posted: 07/11/2024
EXCLUSIVE: 30% of UK adults worried bank scam warnings shift responsibility to customers, says study
Research shared with FStech, conducted by anti-fraud FinTech Tunic Pay and market research consultancy Opinium, found that less than a third of UK adults think that bank scam warnings are helpful.
Posted: 7/11/2024
HSBC is facing a space dilemma as executives worry their planned smaller London headquarters may not be sufficient for their needs, despite initial plans to halve their office footprint
Posted: 06/11/2024
Scam Signal is launching as a collaboration between EE, Virgin Media O2, Three, Vodafone and UK Finance members, including NatWest.
Posted: 6/11/2024
Lloyds Banking Group has become the first UK bank to be awarded Fertility Friendly Employer Accreditation, which recognises the Group’s commitment to supporting its employees through their fertility journeys.
Posted: 05/11/2024
A study from Juniper Research suggests that more than 90 per cent of payment cards will use some form of sustainable material in five years time, up from just 40 per cent in 2024.
Posted: 5/11/2024
BBVA has extended its partnership with the University of Navarra to launch a training programme for over 150 managers to improve productivity through the use of generative AI (genAI).
Posted: 05/11/2024
NatWest and Mastercard have partnered to launch Approval2Buy, a mobile virtual card payment tool for UK businesses
Posted: 05/11/2024
Wealth manager UBS Asset Management has launched its first tokenized investment fund built on Ethereum distributed ledger technology
Posted: 04/11/2024
Buy Now, Pay Later (BNPL) company Affirm has announced its launch in the UK.
Posted: 04/11/2024
The scale-up, which was founded by professor John Morton, University College London (UCL), and professor Simon Benjamin, Oxford University, worked alongside the bank to explore how intricate multi-qubit operations can be applied within pricing algorithms.
Posted: 4/11/2024
Barclays has completed its £600 million acquisition of Tesco Bank's retail banking business, marking the start of a new ten-year strategic partnership between the two British firms
Posted: 04/11/2024
Alison Potter has been named the new chair of the committees.
Posted: 1/11/2024
Wells Fargo has launched a new online checkout option from Paze
Posted: 01/11/2024
Sainsbury’s has announced it will sell its Argos Financial Services (AFS) cards portfolio to NewDay Group.
Posted: 01/11/2024
Britain's financial watchdog has urged firms to strengthen their defences against major technology disruptions following the CrowdStrike incident that caused global chaos in July 2024
Posted: 01/11/2024
The chancellor’s Autumn Budget announcement has sparked a mixed reaction from the UK financial services industry.
Posted: 31/10/2024
Buy Now, Pay Later (BNPL) firm Klarna has expanded its partnership with payment services provider Worldpay.
Posted: 31/10/2024
MoneyGram has appointed Anthony Soohoo as its new chief executive officer
Posted: 31/01/2024
The bank said that the move represents an "industry first", with call status indicators visible on the home screen and within the payment screen where a customer would be looking if they were being pressured into transferring funds.
Posted: 31/10/2024
The bank confirmed on Tuesday that Celine Herweijer, group chief sustainability officer, was not included in its newly streamlined 12-person operating committee
Posted: 31/10/2024
Card issuing platform Marqeta has launched a Buy Now, Pay Later (BNPL) service that can be integrated into payment apps.
Posted: 30/10/2024
Deutsche Bank’s retail banking subsidiary Postbank has rolled out a new digital service the enables clients to deposit or withdraw up to €1,000 in over 12,500 retail locations around the country
Posted: 30/10/2024
The event promises to deliver crucial insights into the evolving cybersecurity landscape, with artificial intelligence and operational resilience taking centre stage.
Posted: 30/10/2024
The news comes as Santander delays publication of its third quarter results announcement, which was due to take place on Tuesday, as the Spanish Bank assesses a court ruling on motor finance commissions.
Posted: 30/10/2024
The appointment comes shortly after Nationwide Building Society's £2.9 billion all-cash acquisition of Virgin Money UK took effect
Posted: 30/10/2024
ClearBank has announced it is collaborating with Visa on a set of issuance and money movement solutions which will enable customers to process both local and cross-border payments.
Posted: 29/10/2024
The move, which will see Africa’s largest bank by assets partner with Volante Technologies, has been described as one of the “most ambitious” Payments as a Service (PaaS) deals in history due to its scope across 19 countries.
Posted: 29/19/2024
Bank of America has named Brian Weinstein as head of its Europe, Middle East and Africa (EMEA) markets business in a newly created role
Posted: 29/10/2024
Citi has partnered with Google Cloud as part of plans to modernise the bank’s digital strategy through cloud and AI technology.
Posted: 29/10/2024
Visa has partnered with the United States Agency for International Development (USAID) to improve access to inclusive digital government and payment systems across the world.
Posted: 28/10/2024
The FCA handed Kristo Käärmann a £350,000 penalty after he did not disclose that he had received a fine from HM Revenue & Customs (HMRC).
Posted: 28/10/2024
Judge Thomas Leech dismissed claims accounting for approximately £330 million of the total value
Posted: 28/10/2024
During a speech over the weekend, governor Andrew Bailey said that the Bank is justified to prepare for a digital currency because it has “not yet seen enough evidence” that the innovation will happen in commercial banks.
Posted: 28/10/2024
Mastercard is expanding a service that enables FinTechs to launch a card programme in as little as 15 days.
Posted: 25/10/2024
Western Union has announced the acquisition of mobile wallet Dash from Singaporean telecoms conglomerate Singtel
Posted: 25/10/2024
Link Pay enables users to request money back for shared purchases like restaurant bills or joint presents.
Posted: 25/10/2024
Reported incidents rose to 2,347 in 2023 from 1,363 in 2021
Posted: 25/10/2024
According to the Service, banking and credit continues to be the most complained about financial services and was the only sector that saw a year-on-year increase in complaints.
Posted: 24/10/2024
US payments giant American Express will acquire UBS’ 50 per cent stake in Swisscard
Posted: 24/10/2024
Rabobank has rolled out new technology to improve its internal efficiency and customer experience.
Posted: 24/2024
US regulators have ordered Goldman Sachs and Apple to pay $89 million in penalties and consumer redress over violations in their joint credit card business that affected hundreds of thousands of customers
Posted: 24/10/2024
Digital payments FinTech Tribe Payments has announced the opening of a new office in Singapore as the company looks to continue its expansion across the Asia-Pacific (APAC) region
Posted: 23/10/2024
Blackrock has launched two AI-focused Exhange Traded Funds (ETF) as it seeks to provide its clients with more investment opportunities in AI and technology
Posted: 23/10/2024
The Financial Conduct Authority (FCA) has interviewed 20 “finfluencers” under caution as it takes action against people who may be illegally promoting financial services.
Posted: 23/10/2024
The company, which provides business accounts, banking services, and admin solutions for SMEs, will connect the new tool with its existing finance admin solutions, including invoice generation, payment services and expense cards.
Posted: 23/10/2024
The changes, set to take effect from January 2025, will see the bank simplified into four key units: UK, Hong Kong, corporate and institutional banking, and international wealth and premier banking
Posted: 23/10/2024
Mastercard has developed a data-consent command center that features a range of new Open Banking- powered tools, including enhanced identification and device intelligence features
Posted: 22/10/2024
CaixaBank has partnered with Apple Pay to allow customers to split payments, claiming it is the first bank in Europe to offer Buy Now, Pay Later (BNPL) services on e-commerce transactions.
Posted: 22/10/2024
The launch will initially offer a high-yield savings product with a competitive rate of 5.25 per cent
Posted: 22/10/2024
The Financial Conduct Authority (FCA) has expressed concerns about a loophole in the mandatory APP fraud reimbursement scheme which excludes intra-firm payments from the rules.
Posted: 21/10/2024
London-based FinTech FintechIO has launched Blip-Pay, a new payment platform that aims to facilitate lower transaction fees, as the firm seeks to expand its Open Banking offering
Posted: 21/10/2024
Singapore-headquartered DBS has introduced a new suite of banking services which integrate tokenisation and smart contract-enabled capabilities with its banking services.
Posted: 21/10/2024
The deal, announced on October 21, 2024, is expected to close in the first half of 2025, subject to regulatory approvals
Posted: 21/10/2024
HSBC will now let international homebuyers use their overseas credit histories to apply for a mortgage
Posted: 18/10/2024
Buy now, Pay Later (BNPL) company Klarna has announced that its services will be available to Apple Pay at checkout in-app and online.
Posted: 18/10/2024
Chancellor Rachel Reeves is set to gather top City executives at 11 Downing Street on Friday for the inaugural meeting of Labour's British infrastructure taskforce
Posted: 18/10/2024
The government department said that new legislation will allow the regulator to apply rules on affordability, meaning that BNPL companies like Klarna and Clearpay will have to ensure that users of its services can afford repayments.
Posted: 18/10/2024
During a speech at an event marking the Financial Conduct Authority’s (FCA) 10th anniversary, chief data, information and intelligence officer Jessica Rusu said the move would support AI-related insights, discussions, and case studies.
Posted: 17/10/2024
Santander has partnered with A2A account-to-account payment infrastructure provider Token.io to boost the bank’s Open Banking capabilities in the UK
Posted: 17/10/2024
The Federal Deposit Insurance Corporation (FDIC) has announced the appointment of Hansel J. Cordeiro as director of the agency’s new Office of Professional Conduct (OPC).
Posted: 17/10/2024
The letter cautions that a potential increase in capital gains tax could drive entrepreneurs out of the country
Posted: 17/10/2024
The bank plans to establish a presence in Kenya and Ivory Coast this year
Posted: 16/10/2024
SoFi Technologies has secured a $2 billion investment deal from Fortress Investment Group as the financial services firm seeks to expand its loan platform business capabilities
Posted: 16/10/2024
Swift is rolling out a new AI-based fraud defence system to help banks proactively detect and defend against potential financial crime during cross-border payments.
Posted: 16/10/2024
Zopa Bank is partnering with the financial services arm of John Lewis to offer personal loans to the retailer’s 23 million customers.
Posted: 16/10/2024
London-headquartered Augmentum Fintech has appointed William Reeve as chairman of the board, effective on 1 November
Posted: 15/10/2024
Citi has partnered with Mastercard to enable its customers to make cross-border payments using only Mastercard debit card details.
Posted: 15/10/2024
Revolut's fraud practices are once again under the spotlight after a BBC Panorama investigation found that the challenger was named in more fraud reports than any other UK bank last year.
Posted: 15/10/2024
General Motors (GM) and Barclays have announced a long-term partnership agreement that will see the British bank become the exclusive issuer of GM-branded credit cards in the US starting next summer
Posted: 15/10/2024
The governor of the Reserve Bank of India (RBI) Shaktikanta Das has warned financial services providers that the growing use of AI in the sector could pose risks to financial stability
Posted: 14/10/2024
Citi has gone live with a set of “next-generation” banking services powered by distributed ledger technology (DLT) and smart contracts
Posted: 14/10/2024
Berlin was caught off guard by UniCredit's move to build a substantial stake in the state-backed Commerzbank
Posted: 14/10/2024
UK challenger Revolut is expanding its B2B offering with the launch of a new point-of-sale (POS) device.
Posted: 14/10/2024
British real-time payments firm Banked has acquired Australian payment technology firm Waave, as it seeks to expand its footprint in Australia
Posted: 11/10/2024
Just one in 10 FinTechs in the UK are having a positive impact on key issues such as climate change, responsible consumption, water usage, and land management, according to a new report from Innovate Finance and Vested Impact.
Posted: 11/10/2024
The event will feature prominent figures from major financial institutions, technology firms, and academic institutions, bringing together diverse expertise in the rapidly evolving cybersecurity landscape
Posted: 11/10/2024
The bank acknowledged it failed to prevent drug cartels and other criminals from laundering hundreds of millions of dollars through its accounts
Posted: 11/10/2024
British FinTech Pockit has agreed to acquire London-based money app Monese for an undisclosed sum
Posted: 10/10/2024
Admiral Group has announced that Cristina Nestares is stepping down as chief executive of its UK Insurance business
Posted: 10/10/2024
The UK’s financial watchdog has fined TSB £10.9 million for its failure to make sure customers in arrears were treated fairly.
Posted: 10/10/2024
UBS's integration of Credit Suisse clients and data is proceeding according to plan following a successful test migration in Asia, the bank's senior technology executive has confirmed
Posted: 10/10/2024
Sir Stelios Haji-Ioannou, founder of easyGroup and the easy family of brands said that the move will give restaurants an alternative to what he described as "greedy ordering platforms" that charge "sky-high" commission fees.
Posted: 9/10/2024
A new money app designed to teach young people financial literacy using AI-embedded personalisation and games is set to launch later this year.
Posted: 09/10/2024
Mastercard has launched real-time payments in South Africa, the first market to benefit from the new service
Posted: 09/10/2024
Commerzbank is strengthening its wealth management services for ultra-high-net-worth individuals and family offices through a major expansion of its specialist operations across Germany
Posted: 09/10/2024
Investment platform TreasurySpring has appointed Tom Ryan as global head of partnerships
Posted: 08/10/2024
Erste Group has partnered with Open Banking solutions provider Salt Edge to provide multi-banking services for its retail and corporate customers in Central and Eastern Europe (CEE).
Posted: 08/10/2024
The newly created role aims to support the bank’s plans to advance sustainable and environmental stewardship in the region.
Posted: 8/10/2024
The US Bankruptcy Court in Delaware approved a plan on Monday that will allow FTX to distribute between $14.7 billion and $16.5 billion to creditors across more than 200 jurisdictions worldwide
Posted: 08/10/2024
FinTech Storfund, which provides faster payments for sellers, has partnered with e-commerce platform TikTok Shop to provide what it says is the first fully embedded cash flow solution in a major US marketplace.
Posted: 07/10/2024
Online payment giant PayPal has completed the payment of an invoice to Ernst & Young (EY) using PayPal USD (PYUSD), its proprietary stablecoin
Posted: 07/10/2024
Orlopp said the merger would result in a significant loss of clients and a lower credit rating
Posted: 07/10/2024
The new rules require all UK banks, building societies, payments and e-money firms to reimburse victims of APP fraud up to £85,000.
Posted: 7/10/2024
The organisation, which published its Budget submission on Friday, also urged lawmakers to reduce barriers to lending by “urgently reforming the Consumer Credit Act”.
Posted: 4/10/2024
Mastercard has purchased Minna Technologies, an embedded subscription management service, for an undisclosed amount.
Posted: 4/10/2024
Digital payments giant Visa has rolled out a new platform to help banks issue and manage fiat-backed tokens
Posted: 04/10/2024
Swift has announced plans to enable central and commercial banks to conduct live trials of digital currency and asset transactions starting in 2025
Posted: 04/10/2024
UAE Bank Rakbank has rolled out a new merchant financing platform aimed at SME merchants
Posted: 03/10/2024
The company said it is using technology from identity verification firm IDVerse to automate the customer journey and help it scale its “ambitious growth plans”.
Posted: 3/10/2024
UK banks are set to be given new powers to delay and investigate payments they suspect could be fraudulent.
Posted: 03/10/2024
The company's Fraud Intelligence Reciprocal Exchange (FIRE) programme will initially work with NatWest and Metro Bank
Posted: 03/10/2024
The challenger bank failed to maintain adequate measures to prevent money laundering and enforce sanctions, according to the UK financial regulator
Posted: 03/10/2024
JPMorgan has partnered with fraud prevention platform Trustpair to enhance its capabilities to verify global bank account information.
Posted: 02/10/2024
The Federal Reserve has terminated a 10-year-old enforcement action against Citigroup that had required the banking giant to strengthen its anti-money laundering controls
Posted: 02/10/2024
Mastercard has acquired Minna Technologies, a Swedish provider of subscription management solutions
Posted: 02/10/2024
Under the revised terms, BBVA is now offering one newly issued share for every 5.0196 Sabadell shares, plus €0.29 in cash
Posted: 02/10/2024
Anthony, 47, has been with EY for over 20 years, joining in 2004 after training at PwC
Posted: 01/10/2024
Bhargava, who joined the bank's board as a non-executive director in January 2024, will succeed Patrick Kennedy, who is stepping down after six years in the position
Posted: 01/10/2024
Mastercard and Amazon Payment Services have signed a multi-year commercial partnership agreement to digitise payment acceptance in countries across the Middle East and Africa.
Posted: 01/10/2024
Financial services specialist Wells Fargo and Fiserv are ending their merchant acquiring joint venture in April next year, Fiserv confirmed on Wednesday
Posted: 01/10/2024
The company explained that that the two new cards use Open Banking technology which allows them to connect with existing bank accounts and enables cardholders to spend directly from their current account in the UK or when abroad.
Posted: 30/9/2024
Pouch Insurance has partnered with insurance technology platform provider INSTANDA to launch a multilingual AI assistant called Goodie.
Posted: 30/09/2024
Visa has signed an agreement to acquire software company Featurespace, with the financial payments giant negotiating a potential £700 million deal according to reports from Sky News
Posted: 30/09/2024
The collaboration, unveiled during New York Climate Week, represents a major step in both companies' commitment to addressing climate change through innovative financial solutions
Posted: 30/09/2024
Buy now, pay later firm Klarna is to launch its flexible payment methods on physical payment terminals across Europe, North America and Australia.
Posted: 27/09/2024
First Abu Dhabi Bank (FAB) has carried out a programmable payments pilot using JP Morgan's JPM Coin digital token.
Posted: 27/09/2024
The Federal Trade Commission (FTC) is taking against five organisations which use AI to deceive consumers as part of a new law enforcement scheme.
Posted: 26/09/2024
The exclusive agreement will initially focus on North America with the potential to expand to other regions
Posted: 27/09/2024
HSBC has joined a growing number of banks calling for technology and social media companies to take more responsibility towards compensating victims of Authorised Push Payment (APP) fraud
Posted: 26/09/2024
The proposed changes come as the use of payments firms has grown significantly in recent years
Posted: 25/09/2024
Under the terms of the agreement, all ATMs will remain in their current positions, ensuring customers continue to have free and convenient access to cash
Posted: 25/09/2024
Societe Generale has partnered with crypto firm Bitpanda to accelerate the adoption of digital assets and with the goal of making crypto a core component of the global financial system.
Posted: 25/09/2024
Cloud-based accounting software provider Xero has rolled out a new service, in partnership with Klarna that allows small businesses to accept and receive ‘buy now, pay later’ (BNPL) payments
Posted: 25/09/2024
The US Department of Justice has filed a lawsuit against Visa, accusing the payment giant of monopolising the debit card market and engaging in anticompetitive practices that affect "the price of nearly everything"
Posted: 25/09/2024
The event, chaired by FStech editor Jonathan Easton, featured a diverse lineup of speakers from across the financial services landscape, including representatives from established banks, innovative FinTechs, and regulatory bodies
Posted: 25/09/2024
Executives at the German bank Commerzbank believe that a multi-billion dollar merger with their Italian rival UniCredit could hamper lending to small and medium-sized businesses in the Mittelstand, people familiar with internal discussions told the Financial Times
Posted: 23/09/2024
The new offer consists of 341 pence in cash and 0.0422 new REA shares for each Rightmove share
Posted: 23/09/2024
The investigation focuses on the 15-month period prior to the state-orchestrated merger with UBS in March last year
Posted: 23/09/2024
Insurance and reinsurance firm Lloyds of London has announced that Sir Charles Roxburgh KCB will become its next chair subject to regulatory approval.
Posted: 23/09/2024
The acquisition will boost BNP Paribas Wealth Management's assets under management in Germany to over €40 billion
Posted: 23/09/2024
Starling bank has warned that AI voice cloning scams are rising, with 28 per cent of UK adults believing they have been targeted by the scam over the past year.
Posted: 20/09/2024
The former chief executive officer of NatWest departed amidst the Nigel Farage "debanking" controversy last year
Posted: 20/09/2024
The achievement solidifies Revolut’s position as one of the country's largest financial technology companies and marks a period of rapid growth for the London-based firm
Posted: 20/09/2024
Metro Bank has announced a partnership with IT specialist Infosys as it seeks to strengthen its IT and support services and digitally transform its business operations
Posted: 19/09/2024
Banks in Singapore will implement Singpass Face Verification (SVF) over the next three months to strengthen the digital token (DT) set process for retail banking customers.
Posted: 19/09/2024
The appointment is in response to renewed concerns about working conditions for young employees in the investment banking industry
Posted: 19/09/2024
ING has announced stricter policies on lending to fossil fuel companies as part of its efforts to accelerate the transition to a low-carbon economy
Posted: 19/09/2024
Global financial markets data and infrastructure provider, the London Stock Exchange Group (LSEG), has acquired Axoni’s post-trade processing business, Veris
Posted: 18/09/2024
The Commonwealth Bank of Australia (CommBank) has partnered with Amazon Web Services (AWS) to launch an initiative allowing employees to safely develop and test AI solutions.
Posted: 18/09/2024
Switzerland's leading stock exchange operator SIX is considering a bold move into the cryptocurrency arena, signalling a potential shift in the European financial landscape
Posted: 18/09/2024
Apple's credit card business currently has over 12 million users and approximately $17 billion in outstanding balances
Posted: 18/09/2024
AXA has introduced online tools which allow customers to notify AXA of their claim digitally.
Posted: 17/09/2024
Zrust will join Trafigura from CVC Capital Partners in London, where he held the position of partner, head of infrastructure and was a member of the Strategic Opportunities team
Posted: 07/09/2024
SC Ventures, Standard Chartered’s fintech investment and ventures arm, has invested in European crypto-asset exchange One Trading’s latest founding round
Posted: 17/09/2024
The chairman of Spanish banking giant BBVA, Carlos Torres, has reaffirmed the bank's commitment to its current offer for smaller rival Sabadell, despite growing doubts about the bid's prospects
Posted: 17/09/2024
Wise Platform, the global payments infrastructure developed by Wise, has rolled out a new service that provides a wider range of global cross-border payments options for financial institutions and their customers
Posted: 16/09/2024
The German government opened discussions with UniCredit about obtaining a larger portion of Commerzbank, according to a report by Reuters.
Posted: 16/09/2024
The bank's plans to revamp the unit have been complicated by disagreements over its valuation and recent developments in the payments sector
Posted: 16/09/2024
The latest round of closures, set to begin in the new year, will affect Halifax, Bank of Scotland, and Lloyds-branded branches in various locations
Posted: 16/09/2024
Payments service processor and digital wallet app Kuady has launched a virtual prepaid Mastercard in Peru.
Posted: 13/09/2024
Polly, which provides cloud-native mortgage capital markets technology, has raised $25 million in its latest funding round.
Posted: 13/09/2024
In this newly-created role, Walker will be responsible for overseeing the growth of ING’s commitment to the energy sector in the UK, one of the main European markets driving its energy transition plans.
Posted: 13/9/2024
Mastercard has announced an agreement to buy global threat intelligence firm Recorded Future in a deal worth $2.65 billion
Posted: 13/09/2024
Dutch digital bank Bunq is reportedly looking for “digital nomads” to hire as it seeks to add over 700 employees to its current headcount
Posted: 12/09/2024
The Church of England (CofE) has rolled out contactless giving devices to more than 2200 churches as part of a three-year project
Posted: 12/09/2024
JPMorgan Payments has partnered with automotive technology company Casi to enable integrated payments for vehicle subscription services.
Posted: 12/08/2024
The Ministry of Justice said that "tech-savvy" owners of Bitcoin and other digital assets will benefit from greater legal protection under The Property (Digital Assets etc) Bill.
Posted: 12/9/2024
London-based DNA Payments has introduced Apple Pay Express Checkout, giving e-commerce merchants a new method for accepting online payments
Posted: 11/09/2024
Consumer finance specialist MoneyLion has rolled out a new cash flow data underwriting platform in collaboration with credit infrastructure and analytics specialist Nova Credit
Posted: 11/09/2024
NatWest Group has joined the Open Property Data Association (OPDA) to improve the homebuying process by sharing digital property information across the mortgage market.
Posted: 11/09/2024
The Italian lender said that that 4.49 per cent of the stake has been acquired in an accelerated book building offering on behalf of the Federal Republic of Germany, which is planning to reduce its stake in the German bank.
Posted: 11/9/2024
The Saudi Central Bank (SAMA) has unveiled the second release of its Open Banking Framework, which focuses on the Payment Initiation Service (PIS)
Posted: 10/09/2024
Global digital payments platform CleverCards has appointed Ray Brash as its new chief operating officer
Posted: 10/09/2024
Lloyds Bank has set up a working group to combat the rise of fake websites which trick people into purchasing items which are never dispatched.
Posted: 10/09/2024
CATMs allow consumers to buy or convert cash into cryptoassets but, despite their name, have no link to traditional banking. There are no legal crypto ATM operators in the UK.
Posted: 10/9/2024
They are the last of the UK's nine largest banks and building societies (the CMA9) to complete the regulator’s mandated roadmap, with each of the organisations now providing the required functionality to offer a full suite of Open Banking payment and account information services, including variable recurring payments (VRP) for sweeping.
Posted: 10/9/2024
Decentralised infrastructure company Grass has partnered with digital asset solution provider Hex Trust
Posted: 09/09/2024
The International Air Transport Association (IATA) and Outpayce have partnered to offer account-to-account payment options for airlines
Posted: 09/09/2024
Zürcher Kantonalbank (ZKB) has partnered with wealth management platform Avaloq and digital asset operations firm Fireblocks to launch a digital asset platform.
Posted: 09/09/2024
According to a report by The Guardian, the new relationship managers will serve rich UK-based customers as part of plans to match growing competition from its British rivals.
Posted: 9/9/2024
Wealth management company Quilter has acquired FinTech business NuWealth as part of ongoing efforts to boost its digital capabilities
Posted: 06/09/2024
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
Legacy isn’t the enemy: what FSIs can do to keep their systems up and running
In this webinar we will examine some of the steps FSIs have already taken to rigorously monitor and test systems – both manually and with AI-powered automation – while satisfying the concerns of regulators and customers.
Optimising digital banking: Unifying communications for seamless CX
In the digital age, financial institutions risk falling behind their rivals if they fail to unite fragmented communications ecosystems to deliver seamless, personalised customer experiences.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
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