Digital wealth management platform and online broker Scalable Capital has sealed a €60 million equity financing round.

Lightico, a startup that helps firms – including banks – collect forms, signatures, documents and payments from customers digitally, has raised $15 million in a follow-on Series B round led by Capital One Ventures.

Global IT expense is set to reach a staggering $3.9 trillion in 2020, an increase of 3.4% from 2019 according to Gartner. Driven by the adoption of software-as-a-service (SaaS), all market segments are expected to spend on forms of software such as cloud and expand its use through 2023. But what does this mean for the environment?

The wealth management arm of Old Mutual has terminated its contract with IFDS for an IT platform upgrade worth hundreds of millions of pounds over concerns about cost and time overruns.

Building on the burgeoning Card-as-a-Service (CaaS) trend, Enfuce has been chosen by Kvika Bank to modernise its payment services, launch a Visa credit card, integrate with Apple Pay and Google Pay, and relaunch the bank’s Aur app.

The UK’s Financial Conduct Authority has finalised new rules to protect consumer’s money in the event of payment firm insolvency.

The UK Treasury Committee has opened a call for evidence into the potential impacts of the increased use of artificial intelligence in banking, pensions and other financial services.

A new bank backed by tech billionaires that plans to fill the gap left by Silicon Valley Bank’s collapse and serve firms in the “innovation economy” has received conditional approval from regulators.

As part of its Digital Acceleration Programme, Citi has invited entries from teams across Europe, the Middle East, and Africa for the next stage of its mobile development challenge.

SS&C has agreed a $5.4 billion cash deal to buy DST Systems, giving a major boost to its move into the $25 trillion US retirement market.

Financial messaging co-operative Swift has been enlisted by Australian Payments Plus (AP+) to build a confirmation of payee service to reduce the risk of misdirected payments and increase defences against payment fraud.

Spain’s BBVA is setting up a business unit, called Spark, in Colombia focussed on serving entrepreneurs and tech companies.

Wells Fargo is the latest Wall Street giant to back Volante Technologies, investing $10 million in the cloud payments and financial messaging firm.

80% of financial institutions will become irrelevant by 2030 due to their inability to compete with digitally-savvy rivals, according to research by Gartner.

A host of major websites and apps have been knocked offline by an outage at Cloudflare, the network and security services provider which counts many financial services firms among its clients.