Revolut is reportedly facing further delays in securing a full UK banking licence because of regulators’ concerns over the fintech’s risk controls relating to cross-border payment. Separately, the firm has acquired an AI travel agent incubated at an innovation hub run by airline Lufthansa.
“Investors are chasing sustainable bonds to buy, and we think that over $800 billion worth of supply globally, around 20-25% of that global share comes from APAC, namely Asia in particular,” said Chuaoni Huang of BNP Paribas during a sustainable focused panel session at Sibos 2024.
OneID, the UK’s only provider of bank-verified digital identification services, has secured new funding led by ACF Investors.
Banking websites were among the victims on Friday of the second outage in less than a month at network and security services provider Cloudflare.
The European Union looks set to block Amazon, Apple, Google and Meta from accessing a new financial data sharing system, according to the Financial Times.
The Consumer Financial Protection Bureau has slapped an $89 million penalty on Apple and Goldman Sachs for illegally mishandling credit card transaction disputes and misleading iPhone purchasers about interest-free payment options.
Auto companies saw mixed results in the second quarter related to sales and finance volume, as Carvana’s originations surged, Ford…
Standard Chartered is using AI to create short videos giving its retail customers in Asia the latest foreign exchange insights.
Consumer Portfolio Services’ originations decreased in the third quarter due in part to credit tightening. The subprime lender’s purchased contracts,…
Facebook’s new digital currency, Libra, could “substantially improve financial inclusion and dramatically lower the costs of domestic and cross border payments,” Bank of England governor Mark Carney has said in a speech during which he also revealed the central bank could open up access to its balance sheet to new payment providers.
Analysts at global re/insurance broker Gallagher has reported that the ongoing Russia-Ukraine conflict could lead up to losses that are seven times than the final loss amount for the World Trade Center (WTC) attacks in 2001, and four times the initial WTC reserve.
The Bank for International Settlements Innovation Hub has started its first green finance project, Genesis, which will explore the tokenisation of green bonds enabling investment in small denominations, combined with real-time tracking of environmental outputs.
The London Market Group has announced the appointment of two new board members, Jane Warren and Claire McDonald, as representatives of the different market Associations for 2024.
The UK government’s reinsurance company Pool Re has reduced its reinsurance pricing, saying that the adjustments will come into effect from October.