Could CBDCs help prevent fraud?
Mandatory reimbursement for victims of authorised push payment (APP) scams came into full effect under the Payments System Regulator (PSR) at the end of last year.
CFPB sues Synapse for mishandling customer funds
The Consumer Financial Protection Bureau (CFPB) has filed a complaint against Synapse Financial Technologies for allegedly losing customer funds when the company filed for bankruptcy protection.
NCA shuts down Scam-as-a-Service platform
The UK’s National Crime Agency has shut down a platform used by hundreds of criminals to defraud victims across the world through the use of spoofed phone calls.
UBS puts digital clone of chief investment officer in branch
Wealth management clients visiting a UBS branch in Switzerland will soon be able to get advice from an AI-powered avatar of the bank’s chief investment officer.
EToro to launch UK and Europe stock lending programme
In order to identify borrowers and facilitate the stock lending process, eToro will partner with BNY, which will act as the custodian, and stock lending platform EquiLend. This stock lending launch showcases how eToro is currently leveraging BNY’s global clearing platform, offering integrated solutions across US and international clearing, custody, settlement, execution, and financing.
Deutsche Bank settles majority of claims in Postbank case
Deutsche Bank has been in the process of acquiring Postbank since 2008, and has been facing trouble agreeing to a settlement with Postbank shareholders.
JP Morgan backs new Tifin AI-powered wealth management charge
JP Morgan is investing in a new AI-focused venture from Tifin, an umbrella group operating a host of wealth management fintech businesses.
Goldman Sachs boosts transaction banking biz with Fiserv tie-up
Goldman Sachs is looking to scale up its new transaction banking business by teaming up with Fiserv to offer the fintech giant’s clients services, starting with cross-border supplier payments.
Chase to restrict Zelle payments stemming from social media
Chase has warned customers that it will start blocking payments to social media contacts through the Zelle P2P network over fraud concerns.
Informed.IQ raises $63m for AI-powered fraud prevention and loan verification
AI-powered loan verification and fraud prevention platform Informed.IQ has secured $63 million in growth equity investment from Invictus Growth Partners.
Nasdaq Private Market raises $62.6 million
Nasdaq Private Market (NPM) has closed a $62.6 million Series B funding round with support from a host of top banks.
African fintech M-Kopa raises $250 million
African fintech M-Kopa has closed over $250m in new debt and equity funding to expand its financial services offering to underbanked consumers across Sub-Saharan Africa.
Jeremy Hunt dismisses AI warnings and insists UK leads the AI race
Chancellor Jeremy Hunt waved away concerns on rapid AI development at a Politico event in London on Wednesday, and insisted that the UK needs to step up in the global AI race.
Tracking Bitcoin’s highs and lows
The volatile nature of bitcoin trading has been brought into the spotlight by recent sharp rises and falls in the cryptocurrency after Mark Zuckerberg’s grilling in Congress was countered by positive sentiment from China about blockchain and a future central-bank backed currency.
Coinbase launches interest-bearing savings accounts in the UK
Crypto exchange Coinbase is to launch a new savings account in the UK, offering 3.75% AER interest, instant access, and FSCS protection