The UK’s Payment Systems Regulator plans to set a £415,000 maximum reimbursement level for victims of authorised push payments (APP) fraud.

Fnality, the international consortium of global banks focused on building a blockchain-based payment system to support the adoption of tokenised assets and marketplaces, has raised $136 million in a significant vote of confidence from backers.

The technical build for Canada’s Real-Time Rail (RTR) payments system is almost complete, with testing set to be carried out in autumn ahead of launch.

Google has invested $1 billion in global derivatives exchange CME Group and struck a separate ten-year deal to move the market to the Cloud.

UK bank TSB has teamed up with fintech startup Cogo to help customers monitor and reduce their carbon footprints.

Lesaka Technologies, the South African fintech firm formerly known as , is set to buy South African digital-only institution Bank Zero Mutual Bank in a deal worth R1.1bn (US$62m).

Finextra spoke to the 15-year-old Marling School student Scott Hiett after his victory at Finastra’s FusionONE Hackathon, beating other developers double his age with his winning product Hyber, an AI-based foreign exchange app that allows users to grow holiday money ahead of their trip.

Wells Fargo and BNP Paribas are among the latest banks to be hit with multi-million dollar penalties by US regulators over employee use of unofficial communication tools like WhatsApp and iMessage.

Bank of the West is launching a checking account in partnership with 1% for the Planet,
that helps consumers to combat climate change

Since the CARES Act was enacted in March 2020, 200 defendants in more than 130 criminal cases have been prosecuted and over $78 million in cash proceeds derived from fraudulently obtained PPP funds have been seized, in addition to several real estate properties and luxury items purchased with the proceeds.

Atoa Payments, a UK startup using open banking to offer merchants an alternative to debit card payments, has raised $6.5 million in seed funding round led by Peter Thiel-backed Valar Ventures.

International securities regulator Iosco has set out nine policy recommendations designed to address market integrity and investor protection concerns connected to decentralised finance (DeFi).

Ziglu, a UK-based cryptocurrency business that once commanded a $170 million price tag, is looking to raise £2 million to stay afloat at a massively discounted £10 million valuation.

Mortgage lender Perenna has become the first UK startup to receive an unrestricted banking licence in 2023.

The board of Top Image Systems is recommending a cash takeover offer from Kofax that will see shareholders receive a hefty premium over the content processing firm’s share price.