NAB, CIBC, Itaú Unibanco and NatWest Group have joined forces with Amazon Web Services to run a global open finance challenge, inviting fintechs, universities and other large organisations to prototype and develop new digital banking services.

Open Banking could realise £18 billion in value for British people and small businesses over the course of a year, claims an independent report, but only if the industry, government and regulators act to ensure the project realises its potential.

Capital One Ventures has invested $24 million in cloud security intelligence firm Securonix in conjunction with a strategic partnership.

Digital bank Nubank has selected Nasdaq’s regulatory reporting system, AxiomSL, for its Latin American offering.

South Africa’s Rand Merchant Bank (RMB) has announced its partnership with climate technology company KOKO to drive growth in climate financing.

Founder and chief exec at fintech giant Revolut, Nik Storonsky, has reportedly sold shares worth up to $300 million (£230 million) in the company.

Datricks, an AI-powered “financial integrity” platform, has raised $15 million in a Series A funding round led by Team8’s VC arm.

Global fintech SumUp has announced its array of new product features to support small businesses at the company’s annual event.

Deutsche Bank has gone live with Swift’s new API-driven Instant Cash Reporting (ICR) tool for accessing real-time account and balance information with a single, standardised connection.

During the Financial Cloud Summit’s afternoon Optimise session, titled ‘BaaS: Entering new and niche markets,’ Finextra reporter Niamh Curran guided panellists through a technical discussion that explored how embedded finance and BaaS can help to transform the backbone of business operations.

UK fintech Untangled Finance has raised $13,5 million for it platform to bring institutional-grade credit with a built-in liquidation mechanism on-chain.

The Australian Securities Exchange has moved closer to its goal of rolling out a blockchain-based settlement system with the opening of a new Customer Development Environment for users to test and interact with the new system.

The world’s largest wealth manager, UBS, has inked a $300 million-plus, multi-year deal with technology firm Epam Systems as it seeks to put IT at the heart of its cost reduction programme.

Open banking payments in the UK are beginning to catch the attention of fraudsters, with authorised push payment scams on the rise.

Visa is introducing a generative AI tool to assign real time risk scores to transactions in a bid to stop enumeration attacks that use automated scripts and botnets to test for vulnerabilities.