January 16, 2025 – FintechDaily

Shariah-Compliant Investment Platform Mnaara Secures Pre-Seed Funding

London-based fintech Mnaara.com, a startup providing investors with access to global private funds in accordance with Islamic finance principles, has successfully raised US$500,000 in a...

JPMorgan Launches IndexGPT Investment Tool

JPMorgan Chase is utilizing OpenAI’s GPT-4 model to create various thematic investment baskets, as reported by Bloomberg. The new tool, named IndexGPT, identifies relevant keywords...

Ransomware Attack on Vendor Leads to Outages for 60 Credit Unions

Dozens of US credit unions have experienced outages following a ransomware attack on a cloud computing vendor. Ongoing Operations, a unit of Trellance, reported being...

Chase Blocks Credit Card Use for BNPL Installment Payments

Chase customers will soon be prohibited from using their credit cards to pay for third-party Buy Now Pay Later (BNPL) instalment plans. The US bank...

Nigerian Exchange Gears Up for Dollar Settlement Platform Tailored for Fintechs

The Nigerian Exchange is collaborating with the Central Securities Clearing System (CSCS) and Euroclear to develop a dollar settlement platform aimed at enabling tech startups...

UK RTGS CHAPS System Outage

The Bank of England has reported a "global payments issue" that has delayed high-value transactions, including house purchases, processed through its national real-time gross settlement...

TSB and FinTech Scotland Launch Applications for Annual Innovation Labs Program

TSB and FinTech Scotland have opened applications for startups to participate in their annual Innovation Labs program, which offers the chance for a comprehensive commercial...

Danske Bank Makes Strategic Investment in United Fintech

Danske Bank has become the third institutional investor to invest in United Fintech, following Citi and BNP Paribas. United Fintech, established in 2020 by CEO...

HSBC Tests Quantum Safeguards for AI-Driven FX Trading

HSBC has initiated a pilot program utilizing quantum key encryption to safeguard client foreign exchange (FX) trading data against increasingly sophisticated cyber threats. In this...

Fintech Fronted Closes Its Doors

Fronted, a UK home lending startup established by former executives from Apple, Monzo, and Bud, is closing down due to increasing capital costs. The rental...