Latest News
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ING appoints new CISO
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Chorley Building Society to revamp core banking as part of digital transformation
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Visa acquires AI payments protection firm Featurespace
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FCA plans to simplify ‘complex’ EU rules on investment documents
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Enfuce rolls out payment card for Swedish supermarkert Hemköp
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Affirm extends partnership with Adyen in Canada
Archive News
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
Visa has announced it will launch account-to-account (A2A) payments to give consumers “more control and protection” on how they pay via bank transfers.
Posted: 06/09/2024
Enrique Alvarez Labiano, who heads up the retail and business bank for Santander, said that ‘Edge Home’ will enable anyone applying for a mortgage via a broker to track the progress of their application.
Posted: 6/9/2024
This move marks a strategic shift for the company as it seeks to compete directly with both tech firms and traditional banks in the lucrative point-of-sale market
Posted: 06/09/2024
MidWestOne Bank has rolled out a new SaaS customer onboarding platform on Amazon Web Services (AWS) through a partnership with Temenos
Posted: 05/09/2024
Across a three-month period from April to June, the service recorded over 8,700 cases compared to around 6,000 complaints during the same 12 weeks of 2024.
Posted: 5/9/2024
In a comprehensive new report released on Wednesday, the regulator highlighted areas where financial institutions could improve their practices to ensure more inclusive access to banking services
Posted: 05/09/2024
The UK payments watchdog previously set the maximum reimbursement value at £415,000, which will now likely be reduced to £85,000.
Posted: 5/9/2024
ClearBank has appointed Valerie Romanovskaya as UK chief financial officer, subject to regulatory approval.
Posted: 04/09/2024
With less than three weeks remaining, anticipation is building for FStech's inaugural The Future of AI in Financial Services conference. The event is taking place at the London Hilton Tower Bridge on 24 September 2024.
Posted: 4/9/2024
Lloyds Banking Group is partnering with AI specialist Cleareye.ai to automate the processing and compliance reviews of trade documents for the bank’s clients
Posted: 04/09/2024
In his new role, Mangla will oversee global debt capital markets, equity capital markets, syndicate and private capital markets
Posted: 04/09/2024
Experian has partnered with Paylink Solutions in a bid to address affordability restrictions for debt consolidation loans.
Posted: 3/9/2024
Lloyds Bank and Virgin Money were hit by a technical glitch on Monday, with customers struggling to access their online banking services and see transactions
Posted: 03/09/2024
Legal & General (L&G) has partnered with Open Finance technology provider Moneyhub to launch a pensions dashboard service.
Posted: 03/08/2024
Elhedery, a veteran of the financial services industry with nearly three decades of experience, takes the helm at a crucial juncture for the bank
Posted: 03/09/2024
NatWest has resolved an issue with its banking app that locked customers out of making payments for a second time this year
Posted: 02/09/2024
Digital bank OakNorth has strengthened its board of directors with the hire of Wise veteran Nilan Peiris as a non-executive director
Posted: 02/09/2024
PayPal has expanded its partnership with FinTech payments company Fiserv to simplify how Fiserv clients use PayPal, Venmo and related services in the US.
Posted: 02/09/2024
The cuts, which are expected to affect hundreds of positions across various departments, come amid a challenging economic environment and ongoing efforts to streamline operations
Posted: 02/09/2024
Atlanta-headquartered banking solutions provider NCR Atleos Corporation has rolled out a new LibertyX Bitcoin Cashout feature, enabling enrolled LibertyX customers to sell bitcoins to collect their cash at a range of ATMs across the United States
Posted: 30/08/2024
Mastercard has debuted its Payment Passkey Service in India ahead of a prospective global rollout
Posted: 30/08/2024
Allica Bank has acquired bridging lender Tuscan Capital from Quilam Capital for an undisclosed sum, making its first steps into the bridging finance market.
Posted: 30/08/2024
British insurer Aviva has been accused by an Indian tax agency of violating local regulations on sales agent commissions through a system of fake invoices and covert cash payments
Posted: 30/08/2024
Dutch payment company Adyen has announced the appointment of Tom Adams as chief technology officer, succeeding Alexander Matthey, who will conclude his tenure later this year
Posted: 29/08/2024
HSBC has announced the promotion of Barry O’Bryne to wealth and personal banking chief
Posted: 29/08/2024
Crown Agents Bank (CAB) has partnered with Visa to facilitate ‘last mile’ payments in emerging markets.
Posted: 29/08/2024
Two former oil company executives have been convicted by a Swiss court for their roles in embezzling more than $1.8 billion from Malaysia's state investment fund 1MDB, in one of the largest fraud cases in recent history
Posted: 29/08/2024
The new trading desk, which aims to support the next phase of the financial services provider’s global trading expansion, will be led by new hire Dominic Lowres.
Posted: 28/8/2024
Visa has launched a money movement advisory practice in the US and Canada to help its clients take advantage of the increasing opportunities in the money movement industry.
Posted: 28/08/2024
Swedish BNPL giant Klarna will continue to reduce its workforce as it flags a move towards more aggressive use of AI
Posted: 28/08/2024
Ikea has signed a global deal with Adyen to boost the payments and loyalty experience for its in-store and online customers.
Posted: 28/08/2024
The FCA has announced plans to launch a market study into the sale of pure protection insurance products, amid concerns over potential poor outcomes for policyholders
Posted: 28/08/2024
OakNorth has secured authorisation from the Federal Reserve and the New York State Department of Financial Services (NYDFS) for a representative office in New York.
Posted: 27/08/2024
Global financial technology firm MoneyGram has appointed Josh Gordon-Blake as chief digital officer
Posted: 27/08/2024
The programme, set to conclude by 3 January 2025, represents approximately a quarter of the bank's underlying profit for the first half of 2024
Posted: 27/08/2024
Revolut has announced it is facilitating instant cross-border card transfers for its UK and EEA-based business customers via Visa's real-time payments network.
Posted: 27/8/2024
NatWest has launched a new travel reward credit card in partnership with Visa.
Posted: 23/8/2024
A non-profit organisation supporting UK whistleblowers has criticised the Financial Conduct Authority (FCA) after the regulator’s chair was accused of breaching whistleblower confidentially rules.
Posted: 23/8/2024
The bank has announced settlements with over half the plaintiffs in the long-running Postbank litigation
Posted: 22/08/2024
The Payment Systems Regulator (PSR) has confirmed its APP reimbursement scheme is still due to launch on 7 October, despite optimism from some in the industry for a U-turn on the deadline.
Posted: 22/8/2024
According to the bank, last year Liverpool fans lost nearly £18,000 across 76 scams.
Posted: 22/8/2024
The Financial Conduct Authority (FCA) has warned that many insurers and brokers are failing to show how they are providing fair value to customers.
Posted: 22/8/2024
The Bank of International Settlements (BIS) is developing a standardised data analytics platform for ISO 20022 data in cooperation with the Bank of England.
Posted: 21/8/2024
The Swiss National Bank (SNB) and SIX Interbank Clearing Ltd said that the new system now covers approximately 95 per cent of retail payment transactions
Posted: 21/08/2024
Interested parties are said to include banks from China and the United Arab Emirates
Posted: 21/08/2024
The organisation, which represents the providers of more than 250 market infrastructures in the exchange and clearing industry, warned that if the US framework is too broad it could mean the benefits that AI brings to economic growth, productivity, automation, and innovation will “be at risk”.
Posted: 20/8/2024
Chicago-based wealth management firm Northern Trust has partnered with Greenlight to provide financial literacy services for families.
Posted: 20/08/2024
The hires signal a strategic reshuffling of its leadership team across Europe and Asia
Posted: 20/08/2024
The move comes after ABN Amro's chief executive Robert Swaak, who will not be returning for a second term, said earlier this month that the bank needs to focus on its efforts in "data capabilities, digitalisation and regulation".
Posted: 20/8/2024
The National Bank of Ras Al Khaimah (RAKBANK) has partnered with crypto firm Bitpanda to provide a platform on which residents in the UAE can manage their digital assets.
Posted: 19/08/2024
The job cuts, most of which are expected to be completed in the third quarter, form part of a wider reorganisation that the the international payments giant announced in April.
Posted: 19/8/2024
The neobank said the move would allow employees to "capitalise on their contribution to Revolut’s growth", while attracting a diverse mix of both new and existing investors.
Posted: 19/8/2024
The deal, which involves approximately $1.5 billion in assets under management, is expected to close in the fourth quarter of 2024, subject to regulatory and investor approvals
Posted: 19/08/2024
The Payment Systems Regulator (PSR) has outlined the next steps necessary to expand variable recurring payments (VRPs) in the UK
Posted: 16/08/2024
The move comes as the company edges closer to a potential initial public offering (IPO) in the US
Posted: 16/08/2024
The poll of more than 17,000 personal current account customers placed Starling Bank in second place and JP Morgan's Chase - which only launched in the UK three years ago - third
Posted: 16/08/2024
Science Card, a financial platform which aims to support innovation in science and technology, has launched an e-money account and debit card to help fund scientific research.
Posted: 15/08/2024
Apple has said that its contactless technology will soon be open to other developers following pressure from the EU.
Posted: 15/8/2024
The high street banking group is the latest target of Texas comptroller Glenn Hegar, who has been identifying companies that restrict their dealings with fossil fuel firms
Posted: 15/08/2024
The move will see HSBC and The Monetary Authority of Singapore (MAS), alongside several other banks and technology firms, study the application of Quantum Key Distribution (QKD) to help address quantum computing cyber threats by protecting the exchange of cryptographic keys.
Posted: 15/8/2024
FStech can now reveal the shortlist for the Payments Awards 2024.
Posted: 14/8/2024
UBS has said that progress in its Credit Suisse integration has driven USD$1.5 billion in pre-tax profits in the second quarter.
Posted: 14/8/2024
HSBC UK has partnered with the Open Property Data Association (OPDA) to enable the sharing of digital property information across the mortgage market.
Posted: 14/08/2024
This move comes more than two years after the company suspended all operations in Russia in response to what it termed an "unjustified attack on the people of Ukraine"
Posted: 14/08/2024
Cheddar has added a spend tracker tool to its finance app to help users gain insights into their spending habits.
Posted: 13/08/2024
The payments giant said its Visa Inclusive Fintech Accelerator, created in partnership with Plug and Play, is designed to accelerate the growth of FinTech start-ups led by founders from diverse backgrounds.
Posted: 13/8/2024
An internal memo said that UK-based digital assets lead is exiting the company to focus on an entrepreneurial opportunity in the digital assets space.
Posted: 13/8/2024
According to the SEC's complaint filed in a Florida federal court, married couple Cynthia and Eddy Petion ran NovaTech as a multi-level marketing and crypto asset investment programme from 2019 to 2023
Posted: 13/08/2024
Standard Chartered has launched an ESG-linked cash account for its corporate banking customers which rewards them for meeting environmental, social and governance (ESG) targets.
Posted: 12/08/2024
Amazon and Barclays have launched a new co-branded credit card in the UK.
Posted: 12/8/2024
The deal, announced on Friday, is the second largest by value for a London-listed company this year
Posted: 12/08/2024
The Post Office has revealed it experienced a surge in cash withdrawals on the day of CrowdStrike's IT crash last month.
Posted: 12/8/2024
The Commonwealth Bank of Australia (CommBank) is rolling out a microlearning series designed to teach employees about AI topics including generative AI and deep learning.
Posted: 09/08/2024
Chief executive of ClearBank Charles McManus said the move is part of a wider global expansion strategy, with the company soon fulfilling Euro clearing under the new banking licence and “the US Dollar coming next”.
Posted: 9/8/2024
The judgement marks the largest such recovery in CFTC history
Posted: 09/08/2024
After a US regulator recently found that half of the major banks it oversees have weak or insufficient operational risk management in place and a global IT outage impacting financial institutions around the world, FStech senior reporter Silvia Iacovcich speaks to industry experts to investigate whether the banking industry is on top of its risk strategy and explore some of the measures firms can take to address vulnerabilities.
Posted: 08/08/2024
Canadian FinTech Nuvei Corporation has acquired Pay2All Instituição de Pagamento (Pay2All), a licensed payment institution authorised by the Central Bank of Brazil
Posted: 08/08/2024
Google has partnered with Greenlight, a FinTech which provides debit cards for children, to put a virtual debit card onto its smart watch designed for children.
Posted: 08/08/2024
The probe focuses on JPMorgan, Bank of America and Wells Fargo among other large banks
Posted: 08/08/2024
Despite an increase in total investment, geopolitical uncertainty, high levels of inflation, and high interest rates have contributed to "more subdued levels" compared to the record highs experienced in 2021.
Posted: 8/8/2024
Global provider of digital commerce solutions NCR Voyix has sold its cloud-banking business to Veritas Capital for $2.45 billion in cash
Posted: 07/08/2024
JPMorgan Payments has partnered with identity verification technology firm PopID to pilot biometric payments at selected merchants across the US.
Posted: 07/08/2024
HSBC Holdings, Europe's largest lender, has made a significant move to bolster its geopolitical expertise by appointing David Quarrey CMG as its new head of public affairs
Posted: 07/08/2024
Santander has created AI deepfake videos to warn consumers about scam risks.
Posted: 7/8/2024
Electric vehicle maker Tesla has launched its own brand-specific insurance cover in Australia in partnership with insurance provider Zurich Australia
Posted: 06/08/2024
Nationwide has partnered with Dementia UK to provide specialist dementia support.
Posted: 06/08/2024
The assessment focused on the banks' ability to have adequate financial resources in the context of resolution
Posted: 06/08/2024
Lloyds Banking Group has appointed Rohit Dhawan as group director of AI and advanced analytics
Posted: 05/078/2024
Shawbrook Bank has announced plans to automate its loan origination processes and expand its portfolio management capabilities.
Posted: 05/08/2024
The deal, announced on Monday, involves the sale of SG Kleinwort Hambros in the UK and Société Générale Private Banking Suisse
Posted: 05/08/2024
Windsor became chief executive on an interim basis several months ago.
Posted: 5/8/2024
Wells Fargo has appointed Bridget Engle as senior executive vice president and head of technology.
Posted: 02/08/2024
US- based Northeast Bank has launched a new credit card programme for its business and commercial customers in partnership with Corserv
Posted: 02/08/2024
The agreed price for the acquisition, alongside the set up of a new partnership to manage a large part of the company’s assets, will total €5.1 billion.
Posted: 2/8/2024
Morris, who previously served as the organisation's chief technology officer, steps into this newly created role effective immediately
Posted: 01/08/2024
Monzo is implementing a new technology suite to simplify its IT estate and facilitate the bank’s cloud rollout.
Posted: 1/08/2024
Bitpanda will use the embedded finance company’s digital KYC tool to identify customers in Germany.
Posted: 1/8/2024
Octo3 and Evantagesoft have merged to form FST.Money (FTS)
Posted: 01/08/2024
The regulator found that while overall reimbursement rates have improved, there remain significant disparities between financial institutions
Posted: 01/08/2024
The Financial Conduct Authority (FCA) has welcomed improvements made by the UK financial services industry a year after the launch of its Consumer Duty.
Posted: 31/7/2024
Sunbit has launched a Visa credit in partnership with Ollie’s Bargain Outlet, the US closeout discount chain
Posted: 31/07/2024
Australian bank Westpac has partnered with telecoms company Optus to help tackle impersonation scams.
Posted: 31/07/2024
The panel, established under the Financial Services and Markets Act 2000, will provide advice on cost benefit analyses for proposed new rules or amendments to existing regulations for firms and financial market infrastructures
Posted: 31/07/2024
Stripe has purchased Lemon Squeezy, a merchant of record which supplies platform services to SaaS businesses, for an undisclosed sum.
Posted: 30/07/2024
Stripe has partnered with Fifth Third Bank to offer embedded financial accounts to its client base
Posted: 30/07/2024
Finteum is a London-based start-up which has built an interbank funding order and a trade management platform.
Posted: 30/7/2024
This move comes one year after the introduction of the Consumer Duty, which set higher standards for consumer protection in the financial sector
Posted: 30/07/2024
Lloyds Banking Group and Nationwide have participated in a £11 million funding round for Scottish FinTech Aveni.
Posted: 29/07/2024
Revolut is introducing a new cash deposit feature for their UK customers in partnership with payments platform Paysafe
Posted: 29/07/2024
Dutch bank ING has announced the appointment of Daniele Tonella as the company’s new chief technology officer.
Posted: 29/7/2024
The lawsuit, heard last week at the High Court in London, stems from securitisation deals made in the lead-up to the 2008 financial crisis
Posted: 29/07/2024
Wealthify has appointed Richard Ambrose as its new chief executive, replacing Andy Russell who is leaving after more than four years in the role
Posted: 26/07/2024
HSBC, Lloyds, TSB and Allied Irish Bank (AIB) have breached the Competition and Markets Authority’s (CMA) rules after failing to disclose accurate information to their customers.
Posted: 26/07/2024
NatWest Group has purchased a £2.4 billion residential mortgage portfolio from smaller rival Metro Bank, while simultaneously upgrading its performance outlook for 2024
Posted: 26/07/2024
The bank has introduced a large language model called LLM Suite to staff in its asset and wealth management division, according to an internal memo seen by the Financial Times
Posted: 26/07/2024
Morgan Stanley has acquired a stake in international payment FinTech Sokin through investment funds managed by Morgan Stanley Expansion Capital.
Posted: 25/07/2024
eToro's ads have been produced using LTX Studio, an AI powered video editing and storyboard tool from photo and video processing specialist Lightricks
Posted: 25/07/2024
The regulator said that despite entering a voluntary requirement which prevented the company from taking on new high-risk customers, the business has onboarded or provided e-money services to more than 13,000 high-risk customers.
Posted: 25/7/2024
Global FinTech Revolut has received its UK banking licence “with restrictions” after a three-year wait
Posted: 25/07/2024
The Italian giant has announced a significant move into the digital banking space with the acquisition of Belgian digital bank Aion Bank and cloud banking technology provider Vodeno
Posted: 25/07/2024
Multi-national banking and financial services firm Rabobank has partnered with SaaS core modernisation and transformation provider Zafin to upgrade its pricing, billing, and invoicing capabilities
Posted: 24/07/2024
Over 10 million consumers and small businesses are using Open Banking technology in the UK, according to Open Banking Limited (OBL).
Posted: 24/07/2024
The feature will allow the challenger bank’s customers to track down old pensions and bring them together on the platform.
Posted: 24/7/2024
Starting 18 September, 14 of Britain's largest banks and building societies, including HSBC, Barclays, and NatWest, will be required to assess the impact of branch closures on local communities and ensure alternative cash services are available before shutting down locations
Posted: 24/07/2024
Global payment network and shopping assistant Klarna has integrated Sofortüberweisung into its Klarna Payments services
Posted: 23/07/2024
Stefan Bollinger is currently co-head private wealth management for Europe, Middle East and Africa at Goldman Sachs. Under his leadership, the business has more than doubled assets under management.
Posted: 23/7/2024
BBVA has partnered with Telefónica Tech to strengthen its global cybersecurity operations.
Posted: 23/07/2024
The bank is attempting to strike out claims from passive funds, which could slash the total value by more than half
Posted: 23/07/2024
Indian crypto exchange WazirX has temporarily paused all trading after it lost $230 million in funds on Thursday during a security breach
Posted: 22/07/2024
Boku, a global mobile payments provider, has appointed Rob Whittick as its new chief financial officer.
Posted: 22/07/2024
The Monetary Authority of Singapore (MAS) has committed an additional S$100 million to develop quantum and AI technologies in the financial sector
Posted: 22/07/2024
People familiar with the matter told Bloomberg that the Office of the Comptroller of the Currency (OCC) uncovered inadequate risk management in areas such as cyber-attacks or employee mistakes at 11 of the 22 banks it oversees.
Posted: 22/7/2024
The interior and justice ministries jointly announced on Saturday that the number of ATM burglaries involving explosives rose by 26.5 per cent in 2022 compared to the previous year, marking the highest level since records began in 2005
Posted: 22/07/2024
Meridien, a US holding company which specialises in the global payments, CRM and banking Industry has acquired a 27 per cent stake in DKK Partners
Posted: 19/07/2024
NatWest says it will become one of the first banks in the world to launch a banking app on Apple’s Vision pro
Posted: 19/07/2024
The CMA said the merger "does not give rise to a realistic prospect of a substantial lessening of competition" in key areas such as mortgages and credit cards
Posted: 19/07/2024
The central bank explained that the issue is impacting some high value and time-sensitive payments, including house purchases.
Posted: 18/7/2024
Lloyds Banking Group and Oaktree Capital Management are to fund buyouts and refinancing for middle-market companies as part of a new partnership.
Posted: 18/7/2024
JPMorgan has taken part in a $65 million equity and debt funding round for B2B payments platform Slope.
Posted: 18/07/2024
The Financial Conduct Authority (FCA) has urged UK financial institutions – including banks, payment firms and lenders – to make sure that politically exposed persons (PEPs) are treated fairly.
Posted: 18/07/2024
The 50-year-old Lebanese-born executive, who currently serves as the bank's chief financial officer, will succeed Noel Quinn, who is stepping down after five years at the helm
Posted: 18/07/2024
Monument Bank is continuing to expand its tech product offering after reaching £3 billion in client deposits this morning
Posted: 17/07/2024
Jordan Kuwait Bank (JKB) has partnered with Mastercard and UAE-based technology company FOO to launch a multicurrency prepaid digital wallet.
Posted: 17/07/2024
The move would further solidify the UK company’s status as the most valuable start-up in Europe.
Posted: 17/7/2024
Chinese authorities have been examining PwC's involvement in Evergrande's accounting practices after the securities regulator accused the developer of a $78 billion fraud over two years through 2020
Posted: 17/07/2024
According to The Sunday Times, the former Starling chief executive seems to be exploring a new AI venture through a company called AI By Boden.
Posted: 16/7/2024
Santander has launched a translation service for its deaf customers to allow them to browse its website in British Sign Language (BSL).
Posted: 16/07/2024
James Morris will oversee and strengthen Citi Commercial Bank strategy
Posted: 16/7/2024
The service, first launched in 2020, enables customers to make instant online payments to participating retailers, without the use of a debit or credit card.
Posted: 16/7/2024
NatWest, formerly known as Royal Bank of Scotland, announced on Monday that the state's ownership had decreased to 19.97 per cent
Posted: 16/07/2024
The regulators are seeking to better understand the benefits and potential risks associated with these payment methods, which have become increasingly popular among British consumers
Posted: 16/07/2024
The initiative comes in the wake of Labour's recent election victory and the new government's pledge to build 1.5 million new homes over the next five years
Posted: 15/07/2024
BNP Paribas has partnered with Ant International, a Singapore-headquartered digital payment technology company, to improve cross-border payments for merchants and consumers in Europe.
Posted: 15/07/2024
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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