Citi has been fined $135.6 million by US regulators for failing to make enough progress on fixing risk management and data governance deficiencies four years on from a cease and desist order.

It is estimated that over the next 15 years, $93 trillion of investment will be required to build a low-carbon infrastructure across the world. This is an eye-watering sum, given that the CIA estimates the entire total of money currently in existence to be $80 trillion.

The UK’s banks will have to provide transparent data on how well they are protecting customers against authorised push payment fraud, under new rules drawn up by the Payment Systems Regulator.

Fintech companies are set to win significant market share from banks says JPMorgan’s Chase chief Jamie Dimon, who laments the regulatory constraints that hobble banks as they face up to the threat from Big Tech competitors.

Financial services firms must urgently review their IT systems and processes for managing customer vulnerability, experts warn as new independent guidance sets higher standards and is adopted by the Financial Ombudsman Service (FOS).

Financial technology firm Iress is to cut ten percent of its headcount amid a restructuring effort that will entail a leadership reshuffle and the divestment of its the Managed Fund Administration and platform services.

Pan-Nordic investment platform Nordnet temporarily shut down its services for four hours on Tuesday after customers reported being able to access other users accounts.

Mayor of London Boris Johnson has officially opened Canary Wharf-based Level39, Europe’s largest “accelerator space” for financial technology.

Afin Bank, a digital lender created to help people from Africa living and working in the UK, has picked Thought Machine as its core banking provider.

A new fintech “acceleration partner” chaired by Atom and Metro Bank co-founder Anthony Thomson has added its first two portfolio companies, backing SME banking and payments firm wamo and climate-focused outfit ekko.

Danske Bank has teamed up with fellow Danish FS player Nykredit to back a new Copenhagen fintech accelerator designed to attract global talent to the Nordic scene.