Super App Startup Paysme Ceases Operations
Paysme, a fintech startup focused on creating a financial super app for small businesses in the UK, is shutting down. Founded in 2020 by former...
New York Files Lawsuit Against Gemini and DCG for Allegedly Defrauding Investors of $1.1 Billion
New York Attorney General Letitia James has initiated a lawsuit against the cryptocurrency platform Gemini and its parent company, Digital Currency Group (DCG), for allegedly...
US Treasury Proposes Crackdown on Crypto Mixers to Eliminate Anonymous Transactions
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has proposed a new rule aimed at enhancing transparency in crypto mixer transactions. Crypto mixers are...
NatWest Acquires Metro Bank’s £2.4 Billion Mortgage Portfolio
NatWest has acquired Metro Bank’s £2.4 billion mortgage portfolio, which is expected to add approximately 10,000 customer accounts that will continue to be serviced by...
UK Bank Fraud Losses Exceeded £1 Billion Last Year
Fraud losses in the UK declined by four percent in 2023 but still exceeded £1 billion, according to UK Finance data. Criminals managed to steal...
Canada Halts Development of Retail CBDC
After years of research, the Bank of Canada has announced that it is "scaling down" its efforts regarding a retail central bank digital currency (CBDC)....
Another One Bites the Dust: Kikapay Folds
Kikapay, a pioneering startup in the UK’s open banking landscape, has become another fintech casualty amid shifting economic conditions. Founded in 2018, Kikapay leveraged open...
CFPB Boosts Open Banking in the U.S. with New Data Regulation
The Consumer Financial Protection Bureau (CFPB) has unveiled its long-anticipated open banking rule, aimed at enhancing competition within the U.S. banking and payments sectors. The...
TSB to Close Branches and Reduce Workforce as Part of Cost-Saving Initiative
In response to a news report by Sky, TSB has commented on Sabadell CEO Cesar Gonzalez-Bueno's remarks regarding a £29 million provision for restructuring within...
MAS Directs DBS and Citibank to Probe Extended Service Disruption
The Monetary Authority of Singapore has instructed DBS and Citibank to investigate the lengthy downtime experienced after a recent outage that disrupted online and payment...