Latest News – Page 410

PSR Stays Firm on APP Fraud Reimbursement Model

As the banking industry prepares for new regulations regarding compensation for authorized push payment (APP) fraud victims, the Payment Systems Regulator (PSR) has released data...

Rising Global Demand for Interpol’s I-GRIP Tool from Multiple Countries

Australia, Canada, Japan, Korea, and Spain were among the countries expressing interest in using Interpol’s Global Rapid Intervention of Payments (I-GRIP) system, as noted by...

Wefox Alerts Shareholders About Potential Insolvency

Insurance unicorn Wefox has issued a warning to investors about a potential insolvency due to ongoing financial losses and regulatory challenges. In a memo to...

FINRA Penalizes M1 Finance for Misleading Influencer Advertisements on Social Media

M1 Finance has been fined $850,000 by the Financial Industry Regulatory Authority (FINRA) due to social media posts made by influencers on behalf of the...

UDPN Introduces Digital Currency Sandbox Initiative

The Universal Digital Payments Network (UDPN) has introduced a digital currency sandbox designed for both commercial and central banks. Launched at Davos last year, the...

Central Banks Utilize LLMs to Extract Climate Risk Information from Corporate Reports

The Bank for International Settlements has successfully completed proof-of-concept testing for Project Gaia, an initiative in collaboration with three central banks aimed at utilizing natural...

Norway’s Push for a Cashless Economy Slowed by New Cash Payment Regulations

Norway's journey towards becoming one of the world's first cashless economies has encountered a setback after new legislation was introduced by Parliament, requiring retailers to...

Kudos Secures $10.2 Million for Its AI-Driven Smart Wallet

Kudos has successfully secured $10.2 million in a Series A funding round led by QED Investors for its AI-driven smart wallet and shopping assistant. Participating...

Essential Nordic Payment Stories You Might Have Missed This Year

Finextra is returning to Stockholm for the annual NextGen Nordics event, where attendees can look forward to in-depth discussions on a range of topics and...

NPCI Disconnects Hundreds of Banks Following Ransomware Attack on IT Vendor

More than 200 cooperative and regional rural banks were briefly disconnected from India's retail payments system last week due to concerns about a potential ransomware...