The Financial Conduct Authority (FCA) has fined Equifax over £11 million for failing to protect their customers from a data breach outsourced to its US parent company.

The uptake of tokenised bank liabilities and shared ledgers in transaction banking services could lower cross-border currency costs by 12.5%, saving businesses more than US$50 billion by 2030, according to a report by the International Swaps and Derivatives Association (ISDA) and Ant International.

The man behind an international one stop spoofing shop, which enabled criminals to appear as if they were calling from banks, tax offices and other official bodies, has been sentenced to 13 years in prison.

The US Securities and Exchange Commission (SEC) has charged JP Morgan Securities and JP Morgan Investment Management Inc. (JPMIM) in five separate actions.

BBVA Mexico is giving its credit and debit cards a makeover, adding biometrics, removing printed data and using recycled plastic.

Barclays Bank is to use Ant International’s proprietary Time-Series Transformer (TST) AI FX Model, to help businesses reduce FX-related costs and risks against global volatilities.

Freetrade, the self-directed investment platform, has agreed to be acquired by London-listed IG Group for £160 million.

Meta has added a QR code-based payments option to the WhatsApp Business App.

At NextGen: AI 2024 taking place for the first time in London, Dr Joe Lyske, co-founder and managing partner of Time Machine Capital², presented the keynote, ‘What can we do with AI?’

At the Temenos Community Forum that took place in Vienna during May earlier this year, Finextra sat down with chief strategy officer at Temenos, Kanika Hope, to discuss how Banking-as-a-Service (BaaS) trends are impacting the banking sector.

With Covid-19 leading to an uptick in digital banking, nearly two thirds of industry executives from around the world think that the branch-based model will be dead within five years, according to an Economist Intelligence Unit survey.

Aviva, a Mexican “phygital” financial platform for the underbanked and micro businesses, has raised $5.5 million in seed funding.

DriveWealth, a provider of API-based brokerage technology that enables partners to offer real-time access to the US equities market through fractional share trading, has closed a $450 million Series D funding round at a $2.85 billion valuation.

Ripple has integrated its recently-launched stablecoin into its flagship cross-border payments system.

Just five months after BBVA distributed 3,000 ChatGPT Enterprise licenses among its employees, 83 percent have incorporated it into their work routine and have created nearly 3,000 adaptations of the tool for specific tasks, ranging from financial data analysis to help to solve legal questions from clients in less than 24 hours or provide customer insights.