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.

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.

The Bank of Queensland has selected Temenos as the core banking supplier for its $440 million full stack tech rebuild.

The UK’s Financial Conduct Authority has set out plans to streamline transaction reporting requirements in a move it says will save firms £100 million a year.

Plaid, a US startup that links consumer bank accounts with fintech apps, has launched in the UK.

Daloopa, a provider of AI-powered data extraction services to hedge funds, investment banks, and other financial institutions, has raised $13 million in funding.

US Congress grilled TikTok CEO, Shou Zi Chew, when he appeared before Congress yesterday, as the company faces increasing calls for a US ban.

The UK’s financial services industry is facing an “existential skills crisis”, says a Government-sponsored report, with graduate recruitment on the wane and existing staff unable to keep pace with dizzying levels of technological change.

Money transfer fintech Wise is set to take on India’s banks in the country’s $32 billion remittance market after securing a new licence from the RBI.