US startup Pomelo has raised $35 million in a Series A funding round for its credit-building remittance app and card.

Minna Bank, Japan’s first app-only bank, is set to open for business in May after acquiring a banking licence from the country’s Financial Services Agency.

The dominance of a handful of cloud service providers in the financial sector raises concerns about operational resilience and the bargaining power vendors have in negotiations with smaller FS players, according to a US Department of the Treasury report.

Capital One, Stripe and Adyen have banded together on a free, open source product designed to help reduce fraud losses and false declines for merchants.

Finextra Research has launched its new market intelligence and financial search engine, Finextra Pro.

A group of European fintech firm have set up a non-profit organisation to fight the corner of third parties on issues related to the second Payment Services Directive (PSD2).

Italy’s largest bank, Intesa Sanpaolo, has signed a strategic deal with IBM to modernise its infrastructure.

Goldman Sachs continues its retreat from the mass-market banking arena, selling off its Personal Financial Management (PFM) unit to Creative Planning.

The Bank for International Settlements has completed proof-of-concept testing of Project Gaia, an initiative conducted in concert with three central banks to explore the use of natural language processing, optical character recognition and machine learning to extract climate-related data from corporate reports.

Struggling French payment firm Worldline is to offload its Swedish payments orchestration business CoreOrchestration to Incore Invest in an all-cash transaction valued at €160m.

The Children’s ISA (TCI) has completed the mass migration of 126,000 ISA and Junior ISA accounts from Embark to Quai Digital within seven months.

At Money20/20 Europe in Amsterdam, Visa announced plans to launch a pilot for FDIC-insured debit card with Klarna, and roll out Zilch’s first physical card.

Lloyds Banking Group has teamed up with money app Lumio to take the stress out of shared financial management for couples.

CaixaBank has joined forces with vendor D-Wave Systems to apply quantum computing in investment portfolio hedging calculation in the insurance sector.

Nearly 20,000 financial adverts had to be withdrawn or amended in the UK last year after the FCA stepped in – nearly double the amount in 2023.