As we approach the end of 2024, let’s reflect on the year’s most significant news stories and community engagement activities.
Top News Stories of 2024
January
HSBC to take on Wise with launch of money transfer app
HSBC is entering the money transfer market with a new global currency conversion app to compete with the established service Wise.
February
Temenos shares plunge on damning report
The shares of Swiss banking technology provider Temenos saw a significant drop after Hindenburg Research initiated a short sell, citing alleged accounting irregularities and product failures.
March
Monzo mafia form startup to make coders extinct
Former Monzo leaders Jonas Templestein and Oliver Beattie are seeking funding for a startup focused on developing generative AI tools aimed at coding automation.
April
Lloyds Bank cuts risk dept headcount
Lloyds Bank is scaling back its risk management team, labeling it as a hindrance to the bank’s strategic transformation efforts.
May
Visa unveils suite of new products for the digital age
Visa has introduced a range of innovative digital-first products designed to meet the evolving needs of businesses, consumers, and financial institutions.
June
Apple launches Tap to Cash
Apple’s new Tap to Cash feature enables users to send money simply by tapping their iPhones together.
July
Banks and payments hit as faulty CrowdStrike update causes global Microsoft outage
A software update from CrowdStrike led to a major worldwide outage affecting banks and card payment systems.
August
Swiss banks turn on instant payments system
Swiss consumers can now enjoy instant payments following the nationwide rollout across the banking sector.
September
[Citi COO shares responsibility for data overhaul following $136 million fine](http://Citi COO shares responsibility for data overhaul following $136 million fine)
Citigroup COO Anand Selva has had his authority over data compliance reduced following a $136 million fine for long-standing deficiencies in risk management and data governance.
October
Revolut tops fraud leaderboard by a country mile
A BBC investigation revealed that Revolut received more fraud reports over the past financial year than any major UK bank.
November
Barclays Bank in talks over giving away 80% stake in merchant acquiring business
Barclays is reportedly negotiating to offload 80% of its merchant acquiring business to Brookfield Asset Management.
December
EPI enrolls 14 million users to wero wallet
The European Payment Initiative, aimed at developing a competitor to Mastercard and Visa, has successfully enrolled 14 million users and processed eight million transactions since its launch.
Most Commented
UK Payments Association calls on new PSR chief to delay APP fraud rules
PSR to cut APP reimbursement limit to £85,000
Chase stops customers using credit cards to make BNPL instalment payments