Bank of America will look to launch its own dollar-backed stablecoin if US lawmakers make it legal to do so, says CEO Brian Moynihan.

Revolut’s billionaire co-founder and CEO Nik Storonsky has changed his residency from the UK to the United Arab Emirates.

The United States has charged cryptocurrency exchange KuCoin and two of its founders with flouting money laundering laws.

Google Play users in Russia are set to have their accounts terminated as the company switches off the billing system for Android developers in the country.

Traditional banks are still not meeting the expectations of their customers because of the legacy core systems that most financial institutions are saddled with, preventing innovation.

Visa is bringing its Intelligence Commerce platform to AWS Marketplace in a move designed to make it easier for developers and enterprises to deploy agentic AI commerce options.

Ireland’s minister for finance has called for an investigation into the robustness of banking technology infrastructure after a technical glitch with Bank of Ireland’s (BoI) mobile banking app enabled customers to seemingly withdraw free money.

UK Finance’s Take Five to Stop Fraud campaign is aiming to raise awareness among the over-65s with a new ‘scam bingo’ game.

Three quarters of financial services firms in the UK are already using artificial intelligence, yet nearly half of these users have only a “partial understanding” of the AI they are deploying, according to a Bank of England and FCA survey.

Financial services firms are putting an emphasis on active human oversight for model training, interpretation and sensitive decision-making as they begin the roll out of generative AI across their businesses, according to a report from UK Finance.

The Covid-19 outbreak may just provide the pin that bursts the fintech bubble, according to a report by Rosenblatt Securities, which forecasts a devaluation of Unicorn businesses and tough times ahead for challenger banks, marketplace lenders and robo-advisory services.

The payments sector is getting a major shakeup, with Global Payments agreeing a $22.7 billion deal to acquire Worldpay from GTRC and FIS while offloading its Issuer Solutions business to FIS for $13.5 billion.

TransferWise has revamped its overseas business account to include a debit card, integration with accounting platform Xero and an API for the development of third party payment automation applications.

Swiss prosecutors have launched criminal proceedings aimed at those responsible for the 2022 leak at Credit Suisse which exposed the details of accounts held by wealthy clients allegedly involved in a host of illegal activity.