Westlake Flooring Services portfolio up 20%
Floorplan lenders saw a rise in volume in the first half of the year amid strong sales, but some are…
Obra Capital buys out Solera Auto Finance
Solera Auto Finance has new owners and branding. Obra Capital, an asset management firm with a specialized approach to alternative investing, on Tuesday announced a buyout of the finance company from Solera Corp. First launched at NADA Show 2022, Obra … [Read More]
HSBC partners Quantinuum for quantum computing research
HSBC is working with tech firm Quantinuum on a series of exploratory projects looking at the use of quantum computing in banking.
Falling prices spur discussion of EV residual values
EV values are on the decline, prompting questions about residual values and potential solutions. Wholesale used-EV prices were down…
Flanks secures $8 million for Open Wealth platform
Open wealth platform Flanks has secured $8 million in a Series A round led by Earlybird Venture Capital, and followed by the existing investors JME Ventures and 4Founders Capital.
Gen AI-related fraud growing threat to financial services
Generative AI-driven fraud is an escalating threat to the financial services industry, with increasingly sophisticated tactics being employed. Losses tied…
Sam Altman fears AI-enabled fraud crisis
OpenAI CEO Sam Altman says it “terrifies” him that banks still use voice-based authentication methods in an era when the AI that he has helped bring into the mainstream can trick such technology.
Payments Canada makes ‘substantial progress’ on Real-Time Rail
Payments Canada says it has made “substantial progress” on its Real-Time Rail (RTR) payments system since bringing in new technology partners.
New Zealand reduces merchant service fees for card payments
New Zealand’s Commerce Commission has issued a draft decision to reduce fees paid by Kiwi businesses for accepting Visa and Mastercard payments.
Fintech CEOs call on Trump to block banks from imposing ‘account access’ fees
The CEOs of more than 80 firms in the open banking sphere have written to President Donald Trump calling on him to prevent banks from charging fees to access consumer data.
Australian banks launch Fraud Reporting Exchange
In a bid to clamp down on authorised push payment scams, Australian banks have launched a digital platform for the reporting of fraudulent payments en route or transferred to another bank.
Robinhood Crypto warns it could face SEC action
Trading platform Robinhood says its cryptocurrency arm has received a Wells notice from the Securities and Exchange Commission, indicating that the US regulator is set to take enforcement action.
AutoNation Finance originations exceed $700M
AutoNation Finance’s year-to-date originations grew to more than $700 million in the third quarter, fueling optimism that the financier will…
Bank of America granted record number of patents
Bank of America is boasting a record 227 US patents granted in the first half of the year, with AI and machine learning the area seeing the most action.
UK MPs return to attack on the FCA
Members of Parliament have hit back at the Financial Conduct Authority (FCA) for its seeming failure to adequately address an earlier report that branded the watchdog as ‘incompetent at best, dishonest at worst’, amid calls far-reaching reforms.