This news comes a week after the UK payments group issued a plea to Chancellor Rachel Reeves to impose a ‘Tech Levy’ on social media giants to pay for the impact of payments fraud originating from their platforms.
The cost-of-living crisis in the UK is likely to lead to a rise in cyber crime, suggests recently published research.
Carefull, an AI-powered financial safety platform that helps banks and wealth advisors protect aging customers from scams and money mistakes, has closed a $16.5 million Series A round.
Climate investment firm Wollemi Capital, founded by former Macquarie Capital chief Tim Bishop, has raised $220 million and attracted Commonwealth Bank as a strategic investor and partner.
APImetrics, Finextra and tomato pay have released a report capturing the performance of UK open banking providers over the period July 2021 to July 2022, analysing over 17 million functional API calls.
Payment orchestration platform Juspay has secured $60 million as part of its Series D funding round.
The FCA is to host a roundtable with banking industry leaders over concerns that onerous compliance requirements are stifling investment in artificial intelligence.
JPMorgan Chase invests $2 billion a year developing AI, with the technology saving the bank about the same amount, according to CEO Jamie Dimon.
As the fintech sector struggles through the Covid-19 economic fallout, a report from VC Finch Capital offers some light at the end of the tunnel, suggesting that the crisis could ultimately end up benefiting the industry by accelerating the rush to digitisation.
Fintech SBS has upgraded its open banking platform to let banks integrate the European Payments Initiative’s Wero digital wallet.
Robinhood has rolled out an in-app ‘Predictions Hub’, enabling customers to bet on the outcomes of world events.
The Bank for International Settlements (BIS) is launching Project Rialto to explore how instant cross-border payments could be improved using a modular foreign exchange component combined with settlement in wholesale central bank digital currencies (wCBDC).
The UK’s Payment Systems Regulator says it will assess the necessity and scope of mandated participation in Phase 1 expansion of Variable Recurring Payments (VRPs) following stakeholder feedback.
American stock trading app Robinhood has tapped Freetrade executive Jordan Sinclair to lead its renewed plan for a UK launch.
The Bank of Queensland has selected Temenos as the core banking supplier for its $440 million full stack tech rebuild.