FintechDaily Staff – Page 56

UK High Street Banks Experience Profit Decline as Online Competitors Rise

High street banks in the UK are experiencing a significant decline in profits in 2024 as consumers increasingly turn to alternative lenders and online banking...

Dwpbank Acquires Lemon.markets, a Brokerage-as-a-Service Platform

Deutsche WertpapierService Bank (dwpbank) has announced its acquisition of lemon.markets, a brokerage-as-a-service platform based in Berlin. Founded in 2020, lemon.markets specializes in providing digital brokerage...

Barclays and BNP Paribas Make Strategic Investment in Capitolis

Barclays and BNP Paribas have become the latest prominent banks to invest in Capitolis, boosting the capital markets technology firm’s funding round to an impressive...

Klarna Explores Possibility of Reviving Autumn IPO

Klarna is aiming to revive its initial public offering plans after pausing due to market volatility earlier this year. According to a memo reported by...

Latvian Fintech Startup Handwave Secures $4.2 Million for Palm Payment Solutions

Latvian fintech startup Handwave has secured $4.2 million in seed funding to launch its palm-based payment and identity platform in Europe and the US. The...

Alaan Secures $48 Million for Its Spend Management Platform

Alaan, a UAE-based AI-powered corporate spend management platform founded by former McKinsey consultants, has raised $48 million in Series A funding. Peak XV Partners (formerly...

Sainsbury’s Sells Its Travel Money Division to Fexco

UK supermarket group Sainsbury's is divesting its travel money business to Ireland's Fexco. Financial details of the transaction were not disclosed. Fexco will assume control...

SEC Establishes AI Task Force

The US Securities and Exchange Commission (SEC) has launched an AI task force aimed at integrating artificial intelligence into its operations. To lead this initiative,...

EBA Issues Alert on Money Laundering Risks in Fintech Industry

The ongoing digitalization of financial services has escalated the risks of money laundering (ML) and terrorist financing (TF), according to the European Banking Authority (EBA)....

Atom Bank Revamps Technology Leadership Team

UK-based Atom Bank has announced significant changes to its senior technology leadership team, introducing a chief of staff and a new AI and data science...