January 2025 – Page 76

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...

KfW to Launch Digital Bond Powered by Blockchain Technology

German bank KfW is set to issue its first blockchain-based digital bond as a crypto security, in compliance with the German Electronic Securities Act (eWpG)....

CommBank and Vodafone Collaborate to Combat SMS Scams with Real-Time Intelligence

Commonwealth Bank of Australia is partnering with Vodafone to share SMS scam intelligence in near real-time. This collaboration enables Vodafone to identify and disrupt scammers...

Home Equity-Backed Credit Card Company Aven Joins the Unicorn Club

California-based Aven has successfully raised $142 million to expand its home equity-backed credit card offering to homeowners across the United States. Khosla Ventures and General...

City Leaders Launch UK Growth Stage Fintech Fund

A new funding vehicle designed to provide growth-stage capital to UK fintechs has launched with backing from Barclays, the London Stock Exchange Group, Mastercard, NatWest,...

Cash App Exits the UK Market

Block is discontinuing its Cash App P2P payments service in the UK as it shifts its focus away from global expansion. According to a notice...