PayPal to bring stablecoin to Stellar Network
PayPal is hoping to strengthen the utility of its stablecoin by making it available on the high-speed, low-cost Stellar blockchain network.
EBAday 2024: Calling early-stage startups to showcase products
The 19th edition of EBAday, the largest annual European event for payments and transaction banking, will return on 18th – 19th June 2024 at CCL in Lisbon, Portugal.
Offline CBDC could boost financial inclusion and privacy – Bank of Canada
An offline CBDC could offer a compliment to cash that would boost financial inclusion and preserve privacy, suggests a note from the Bank of Canada.
Fintech chiefs raise AI regulatory fears in Parliament
Leaders from the fintech and artificial intelligence (AI) industry gathered in Parliament last night for a special debate on the ethical and regulatory challenges posed by the technology to the UK.
UK challenger banks and specialist SME lenders overtake incumbents
Challenger and specialist banks lent small businesses more than the traditional major players in 2022 – a record £35.5 billion.
NAB charged $751,000 in penalties for breaching consumer data protection rules
National Australia Bank (NAB) has paid A$751,000 in penalties after being issued four infringement notices from the Australian Competition and Consumer Commission (ACCC) for not complying with the Consumer Data Right (CDR) Rules.
Lloyds moves legacy lending infrastructure to the cloud
Lloyds Banking Group has shifted its lending infrastructure to the cloud, retiring more than 20 on-premises applications and resolving over 50 system limitations.
FNA awarded University of Cambridge grant to develop market monitoring tool
Network analytics and simulation firm FNA has been awarded $100,000 as part of the University of Cambridge’s SupTech Launchpad competition, to develop a working prototype of a tool for financial market monitoring via social media and web extraction.
Trade bodies write to No 10 calling for UK blockchain and crypto push
A collection of UK and global trade bodies has written to the prime minister’s office calling on the government to capture what they claim will be the economic and societal benefits of a new wave of digital asset and blockchain technology.
FCA launches ‘Firm Checker’ software tool to fight financial crime
Around 800,000 people reported losing money to investments or pensions related scams in the 12 months to May 2024, according to Financial Conduct Authority (FCA) research.
Visa and Mastercard face another UK class action suit over card fees
Visa and Mastercard are facing another multi-billion pound UK class action lawsuit for allegedly unlawful interchange fees.
Latvian fintech startup Handwave raises $4.2 million for palm payments
Latvian fintech startup Handwave has raised $4.2 million in seed funding to launch its palm-based payment and identity platform in Europe and the US.
Transak gains Delaware Money Transmitter License and FINTRAC registration
Transak has received its second Money Transmitter License (MTL) from the US state of Delaware, while also gaining registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
Commerzbank combines generative AI and avatar technology to create new digital assistant
Commerzbank is releasing an AI avatar called Ava to interact with the German lender’s private and small business customers in “natural and engaging conversations”.
Barclays invests in financial software development platform Beacon
Barclays has joined in a Series A funding round for Beacon Platform, which offers a a suite of applications for financial software development teams.