As 2023 comes to a close, we reflect on the year’s most compelling news articles, videos, and community engagement efforts.
Top News Stories of 2023
January
Universal Digital Payments Network Launched at Davos
The World Economic Forum (WEF) in Davos saw the launch of a Universal Digital Payments Network (UDPN) designed for stablecoins and Central Bank Digital Currencies (CBDCs), aiming to facilitate interoperability among these digital currencies.
February
Klarna Reports $1 Billion Loss
Swedish buy now, pay later firm Klarna reported a $1 billion loss for 2022, a significant increase from the $680 million loss in 2021.
March
FCA Takes Aim at Payment Firms Over ‘Unacceptable’ Risks
The Financial Conduct Authority has issued warnings to nearly 300 payment companies, threatening action if they do not promptly mitigate identified risks to consumers and the financial system.
April
[JPMorgan Chase Boss Dimon Hails ‘Groundbreaking’ AI](http://JPMorgan Chase boss Dimon hails ‘groundbreaking’ AI)
CEO Jamie Dimon announced that JPMorgan Chase has over 300 AI use cases in production, labeling the technology as "extraordinary and groundbreaking."
May
Revolut UK Chief Told Customer He Would Be Waiting for Him with a Shotgun
Revolut is investigating reports that its former UK head accidentally sent an aggressive message to a dissatisfied customer about awaiting him with a shotgun.
June
Banks are Becoming "Museums of Technology," Says Ex-Barclays Boss
Antony Jenkins, former Barclays CEO, criticized banks for not fully embracing digital transformation and losing customers to more agile tech-focused competitors.
July
Apple’s Tap to Pay Arrives in the UK with Revolut and NatWest First Out of the Gate
Revolut launched Apple’s Tap to Pay on iPhone for businesses and freelancers in the UK, coinciding with NatWest’s introduction of the technology.
August
More Banks Pay Multi-Million Dollar Penalties Over WhatsApp Use
Wells Fargo and BNP Paribas are among the latest to incur multi-million dollar fines from US regulators for allowing employees to use unofficial communication tools such as WhatsApp.
September
Revolut Launches Swift Challenger RevTag
Revolut Business debuted its instant payments system, ‘RevTag’, aimed at challenging Swift in the cross-border payments arena.
October
Elon Musk Wants X to Replace Users’ Bank Accounts Within a Year
Elon Musk announced ambitions for X to manage users’ entire financial lives, eliminating the need for traditional bank accounts by the end of the following year.
November
HSBC Becomes First Bank in the World to Offer Tokenised Gold
HSBC introduced a platform utilizing distributed ledger technology to tokenize the ownership of physical gold for institutional clients held in its London vault.
December
Monzo Wrapped Prompts Outpouring of Shame and Anger
Monzo’s year-end Wrapped campaign, detailing customers’ spending habits, led to significant reactions of dismay and frustration on social media.
Most Commented Articles
UK’s Cashless Transition Under the Microscope as Payments Choice Alliance Pushes Back
RTGS and CHAPS Back Online After Six-Hour Outage
Accelerating the Use of Instant Payments
In the Blink of an Eye: How the Digital Age Intensifies the Risk of Bank Runs
Mastercard and Visa to Face Another Card Interchange Class Action Suit
Top Videos
Digitalisation’s Impact on Banks in 2023
This episode from our PREDICT 2023 series explores the future of cloud migration, embedded finance, and CBDC growth.
HSBC & Finastra: The Changing Cross-Border Payments Landscape
Mark Evans and Roy Marsh discuss key drivers of change in cross-border payments and the existing barriers that hinder efficiency.
Customer Attitudes Towards Digital Bank Services
Dean Clark and Alex Selwood reflect on the digital transformation in retail banking and its impact on customer needs.
What Payment Trends We Can Expect in 2023?
Dalbir Sahota shares insights on the future of cross-border payments and APIs.
Finastra: Keeping Up with Instant Payments
Barry Rodrigues examines trends in the payments landscape, focusing on the rise of instant payments and their implications for traditional banks.