December 2024 – Page 8

Klarna Sells UK Loan Portfolio to Hedge Fund Elliott Advisors

Klarna is set to divest its UK loans book to hedge fund Elliot Advisors in a strategic move to generate £30 billion to support its...

SC Ventures and NEXT176 Collaborate to Unveil Financial Wealth Platform

Standard Chartered’s investment arm, SC Ventures, has partnered with the building and investment division of Pan-African financial services group Old Mutual, NEXT176, to launch a...

Former Chancellor Osborne Joins Coinbase as an Advisor

Former UK Chancellor of the Exchequer George Osborne has joined the advisory council of cryptocurrency exchange Coinbase. Osborne, who served as chancellor from 2010 to...

Scammers Can Guess Nearly 50% of Passwords in Under a Minute

Scammers can crack 45% of passwords within a minute, employing brute force or smart guessing tactics, according to a warning from security firm Kaspersky. Kaspersky...

RBI Introduces New Restrictions, Significantly Impacts Paytm Payments Bank

India's central bank has implemented stringent new restrictions on Paytm Payments Bank following a critical compliance review by external auditors. The RBI had previously ordered...

Labour Promises to Establish the UK as a Fintech Leader

The UK's Labour Party has unveiled ambitious plans for the future of financial services, aiming to advance Open Banking, establish standards for AI usage, and...

Bank of England Governor Andrew Bailey Welcomes AI Advancements

Governor Andrew Bailey has affirmed the House of Lords' perspective that AI technology should be viewed positively, rather than as a threat to business. In...

MuchBetter to Provide Free Payment Rings for UK Consumers

MuchBetter, a wearable payments company, is set to distribute free contactless ceramic payment rings to residents across the UK. The MuchBetter Ring operates without a...

Fintech Funding Drops to Lowest Level in Seven Years

Global funding in the fintech sector has declined to its lowest level since 2017, according to newly published research. The Q1 2024 State of Venture...

Celsius Set to Emerge from Bankruptcy with $3 Billion Payout

Cryptocurrency company Celsius Network has initiated a $3 billion payout as part of an approved plan to exit bankruptcy. In November 2023, a New York...