The UK’s Financial Conduct Authority has finalised new rules to protect consumer’s money in the event of payment firm insolvency.

The UK Treasury Committee has opened a call for evidence into the potential impacts of the increased use of artificial intelligence in banking, pensions and other financial services.

A new bank backed by tech billionaires that plans to fill the gap left by Silicon Valley Bank’s collapse and serve firms in the “innovation economy” has received conditional approval from regulators.

As part of its Digital Acceleration Programme, Citi has invited entries from teams across Europe, the Middle East, and Africa for the next stage of its mobile development challenge.

SS&C has agreed a $5.4 billion cash deal to buy DST Systems, giving a major boost to its move into the $25 trillion US retirement market.

Financial messaging co-operative Swift has been enlisted by Australian Payments Plus (AP+) to build a confirmation of payee service to reduce the risk of misdirected payments and increase defences against payment fraud.

Spain’s BBVA is setting up a business unit, called Spark, in Colombia focussed on serving entrepreneurs and tech companies.

Wells Fargo is the latest Wall Street giant to back Volante Technologies, investing $10 million in the cloud payments and financial messaging firm.

80% of financial institutions will become irrelevant by 2030 due to their inability to compete with digitally-savvy rivals, according to research by Gartner.

A host of major websites and apps have been knocked offline by an outage at Cloudflare, the network and security services provider which counts many financial services firms among its clients.