January 2025 – Page 70

MUFG Makes Strategic Investment in Thai Super App Ascend Money

MUFG and the Finnoventure Private Equity Trust I fund have invested $195 million in Thailand-based fintech unicorn Ascend Money. Ascend Money, part of the Charoen...

CMA Highlights Competitive Issues Related to AI Foundation Models

The Competition and Markets Authority (CMA) has identified significant risks to fair competition in AI Foundation Models (FMs) amid the rapid evolution of AI in...

Contractor Sentenced to Four Years in Prison for Defrauding Bank of More Than £2 Million

A contractor who worked for a major UK bank has been sentenced to four years in prison after successfully diverting over £2 million of the...

G+D Introduces Offline Payment Technology

Germany's Giesecke+Devrient (G+D) has introduced a token-based system designed for secure offline payments. G+D Filia Unplugged facilitates consecutive, secure offline payment transactions anytime and anywhere,...

UK Fintechs Worry About Their Future

The UK’s fintech sector is facing an uncertain future, with almost half of firms indicating potential risks of failure by the end of 2023. This...

Zopa CEO Dismisses IPO Rumors

Jaidev Janardana, CEO of Zopa, has criticized the media for contributing to the UK fintech sector’s preoccupation with valuations. During a fireside chat with Akila...

ICBC Ransomware Attack Disrupts Treasury Transactions

The US branch of the Industrial and Commercial Bank of China (ICBC) experienced a ransomware attack on Thursday, leading clients to adjust some trades. In...

Encouraging Sustainable Behavior through Positive Reinforcement

The financial industry is increasingly embracing sustainable practices, with numerous fintech companies dedicated to fostering greener solutions. As interest in climate technology and sustainable finance...

ECB Poised to Sanction UniCredit for Ongoing Operations in Russia

The European Central Bank (ECB) is prepared to impose sanctions on Italy’s UniCredit due to the bank's ongoing business engagements with Russia. The ECB's demands...

Lloyds Alerts About Rising Incidents of Cryptocurrency Scams

Revolut has emerged as the most frequently targeted recipient of Faster Payments made by victims of cryptocurrency investment scams at Lloyds Banking Group, which has...