Report predicts boom in Apac’s wealthtech market
The wealthtech sector in Asia-Pacific could be worth more than $2trn by 2027 thanks to technological advancements, according to a report published by McKinsey.
Fintech angel fund Rerail hits $20 million funding target
Rerail, an angel fund for fintech startups, has closed on a $20 million warchest.
UK Chancellor halts ISAs reductions after backlash
Rachel Reeves, UK Chancellor, announced reductions to allowance for tax-free cash savings in a push to get the public to allocate more funds into stocks and shares to boost the economy. However, backlash from building societies and banks has led to these plans being shelved.
Latitude Financial reveals 14 million customer records stolen in cyber attack
Australian consumer lender Latitude Financial has revealed that 14 million customer records, including drivers licences, passports and financial statements were stolen in a cyber attack.
Gleif plans digital service
The body responsible for managing the implementation of the Legal Entity Identifier (LEI) has announced plans to develop a digital version that can be rolled out across multiple sectors beyond the financial services market.
Lloyds backs kids coding network
Lloyds Banking Group is throwing its weight behind volunteer network Code Club UK, enlisting thousands of staffers to help kids learn programming, coding and IT skills.
Crypto ownership continues to rise in the UK
More than one in ten Brits now own cryptocurrency, according to research from the Financial Conduct Authority.
Digital wealth management firm StashAway raises $16 million
StashAway, a digital wealth management startup hailing from Singapore, has completed a $16 million Series C fundraising round
PSR enforces “step-change” in reimbursement rules for APP fraud victims
The UK’s Payment Systems Regulator has confirmed plans to improve protections for victims of authorised push payments (APP) fraud will come into force in October 2024.
AI not ready for central bank policy making – MAS economist
Artificial intelligence is not ready to replace structural models for central bank policy making, according to the Monetary Authority of Singapore’s chief economist.
Emirates NBD and DIFC launch fintech incubator programme
Looking to cultivate the next generation of fintech talent in the UAE, Emirates NBD, has launched a ‘National Digital Talent Incubator’ programme, as a part of a strategic partnership with Dubai International Financial Centre (DIFC),
Ripple joins Tenity DeFi fund
Swiss fintech incubator Tenity is expanding its focus on Decentralized Finance though an early-stage fund backing promising startups building blockchain-based services on Ripple’s XRP ledger.
Zipzero relocates from London to Aberdeen
Zipzero, a UK consumer app developed to combat the cost-of-living crisis by rewarding users for sharing their receipt data, has relocated its head offices from London to Aberdeen, citing a thriving startup community in the Scottish city.
Klarna partners gifting platform Nift for loyalty push
Klarna has partnered AI-powered gifting platform Nift to deliver personally tailored gifts to shoppers to boost customer loyalty.
HSBC launches Trump tariff financing product for US clients
HSBC has responded to the recent round of tariffs kicked off by Donald Trump with a financing tool that helps US clients with the payment of import duties.