UK Emerges as Europe’s Hub for Card Fraud
The UK has been identified as the card fraud capital of Europe, experiencing more victims and greater financial losses than any other country on the...
Umba Acquires Majority Stake in Kenyan Microfinance Institution
Umba, a digital banking firm based in Nigeria, has acquired a 66.6% stake in the Kenyan microfinance bank Daraja as part of its strategic expansion...
Robinhood Reduces Workforce by 150 Employees
Stock trading app Robinhood has laid off another seven percent of its workforce, approximately 150 employees, according to the Wall Street Journal. With trading volumes...
Grasshopper, the Digital Bank, Secures $30.4 Million in Funding
Grasshopper, a US digital bank catering to SMEs and entrepreneurs, has successfully raised $30.4 million in funding. Investors in this round include Patriot Financial Partners,...
Banks to Pay $1 Billion for Traders’ Use of WhatsApp
A group of Wall Street banks is bracing to each pay up to $200 million to settle cases with the Securities and Exchange Commission (SEC)...
Up Bank Introduces Maybuy: A New BNPL Alternative
Australian neobank Up Bank has introduced Maybuy, a savings service intended as an alternative to the increasingly popular Buy Now Pay Later (BNPL) products. Maybuy...
Redwood Bank Achieves First Full-Year Profit as a Specialist Lender
Redwood, the British challenger bank catering to SMEs, has achieved full-year profitability less than five years after its launch. Founded in August 2017, Redwood was...
FCA introduces proposal for a UK consolidated tape
The UK's Financial Conduct Authority (FCA) is considering the introduction of a consolidated tape to provide investors with clear and affordable trading data. A consolidated...
FCA Imposes £12.5 Million Fine on Citi for Trading Oversight Failures
The UK's Financial Conduct Authority (FCA) has imposed a £12.5 million fine on Citigroup Global Markets due to its previous failures to adequately oversee trading...
Ben, the Workplace Benefits Platform, Secures $16 Million in Funding
Employee benefits platform Ben has secured $16 million in a Series A funding round led by Atomico. Cherry Ventures, DN Capital, and Seedcamp also participated...