London-based B2B cross-border payments outfit Currencycloud has raised $80 million in a Series E funding round joined by blue-chip investors such as Visa, BNP Paribas and Siam Commercial Bank.

Money transfer giant Wise has been hit with a $4.2 million fine from multiple US state regulators over deficiencies in its anti-money laundering controls.

Hong Kong banks are joining an SMS sender registration scheme designed to help customers avoid falling for scam texts.

Today marks two years since Brazil launched its Open Finance Initiative. Open banking in Brazil has blossomed thanks to the initiative, forging a new governance structure and financial system for financial institutions in the nation.

UK wealth management group St. James’s Place is rolling out virtual reality technology for training and role-playing across the business.

Scotiabank is moving customer data onto Google Cloud and tapping the firm’s data analytics and AI technology in a move the Canadian bank hopes will lead to more personalised and predictive services.

VC fund Octopus is to grow its shareholding in embedded investment platform Seccl as co-founders Dave Harvey and Hugo Thorman depart the business.

BNY Mellon’s Pershing unit has unveiled a host of initiatives designed to help clients streamline and digitise their wealth management efforts.

HSBC, Lloyds, TSB, and AIB have been rebuked by the UK’s competition watchdog for failing to meet rules on providing customers with clear and up-to-date information.

The boss of a UK high street bank has told a panel of politicians that the possibility of a cyber attack “keeps me awake at night”.

Moderating her last panel of the day, Finextra’s head of content Madhvi Mavadiya discussed Confirmation of Payee (COP) with Christina Fransson, senior payment product specialist of FIS in EMEA, Greg Huguet, European regional director at iPiD, Paulina Kudlacik, Confirmation of Payee scheme manager at the Nordic Payments Council, and Richard Ross, global payment market infrastructure expert at Swift.

Card giant Visa is taking aim at the UK’s burgeoning account-to-account market through its new pay-by-bank offering.

Norm Ai, a US RegTech that has built an AI platform for converting regulations into computer code, has raised $27 million in Series A funding from a host of financial institutions.

DBS is putting a patch of outdoor space at one of its buildings to use by creating a community farm where employees can grow edible plants and herbs.