TD Bank fined $3bn after money laundering guilty plea
TD Bank has agreed to pay $3 billion in penalties after pleading guilty to violating US anti-money laundering federal laws.
Up to a fifth of capital markets jobs at risk from automation
Four hundred thousand capital markets jobs could disappear over the next decade as advances in artificial intelligence and technology decimate the workforce, according to forecasts by consultancy Opimas.
Klarna to launch digital wallet and debit card in UK
BNPL provider Klarna has fired the first shots in its assault on UK bank’s retail business with the launch of a debit card and a digital wallet.
ANZ transformation head to leave bank
The executive charged with managing ANZ’s digital transformation project is to leave the bank in October while the specialist ‘agile’ teams will be folded into the bank’s general technology unit.
Indian fintech Pine Labs plans IPO
Pine Labs, the India-based payments firm, is looking to raise more than $300m from its planned listing.
Wells Fargo accidentally leaks data relating to 50,000 of its top clients
Barely months after coming up for air over the fake accounting scandal, Wells Fargo is facing further scrutiny, this time over a data breach that saw the accounts of 50,000 of its wealthiest clients accidentally leaked to a former employee.
Goldman Sachs wants to create AI that thinks and acts like a seasoned banker
Goldman Sachs is rolling out a Generative AI assistant to its staff in the first stage of a programme that aims to create a bot capable of thinking and acting like a veteran employee.
Banque de France and Monetary Authority of Singapore complete post-quantum cryptography trial
The Banque de France (BdF) and the Monetary Authority of Singapore (MAS) have completed a groundbreaking joint experiment in post-quantum cryptography (PQC) to strengthen internet communications and data transfers conducted across continents.
US and UK sign agreement to regulate AI models
The governments of the UK and US have signed what they claim is the first international bilateral agreement to regulate the risks of artificial intelligence (AI) models.
Incore Invest raises €25 million to fund high growth fintechs
Incore Invest has raised €25M for a new fund designed to accelerate the growth of high-potential SaaS, embedded finance and fintech companies across Europe.
Revenue-based investing marketplace Levenue raises €8m
Revenue-based investing marketplace Levenue has raised €8 million in a Series A funding round and acquired bank transaction enrichment expert Cake.
Older Americans demonstrate more digital financial literacy than younger peers
Digital financial literacy among Americans increases with age, according to research from Capital One.
Hong Kong Monetary Authority fines Fubon Bank HK$4m
Fubon Bank has been fined HK$4 million by the Hong Kong Monetary Authority (HKMA) for violation of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).
Industry groups call on SEC to ditch cyber disclosure rule
A coalition of US financial trade associations are calling on the Securities and Exchange Commission to rescind its cyber incident disclosure rule, claiming that it endangers victims.
UAE closes in on launch of Digital Dirham
The United Arab Emirates is closing in on the phased launch of its Digital Dirham central bank digital currency.