FintechDaily – Page 76 – Fresh Dose of Fintech News

FCA Requests Public Input on Removing £100 Contactless Payment Limit

The UK Financial Conduct Authority (FCA) is seeking feedback on its proposal to eliminate the £100 limit on contactless card payments. Initially announced in January,...

SIX to Reduce Workforce by 150 Positions

Swiss exchange operator SIX has announced plans to reduce its workforce by 150 jobs as part of a three-year initiative aimed at cutting costs and...

ABN Amro-Owned Neobroker Penalized €1.6 Million for Compensating Financial Influencers

BUX, the European neobroker owned by ABN Amro, has been fined €1.6 million by Dutch regulators for compensating influencers, existing customers, and comparison websites for...

Trump’s Support for Stablecoins Highlights the Urgency of the Digital Euro

As the European Central Bank (ECB) approaches the completion of the testing phase for a digital euro by October, a high-ranking EU official highlights the...

HSBC Participates in $51 Million Funding Round for Immigrant Neobank Zolve

Zolve, a neobank catering to immigrants in the US, is set to expand internationally after securing $51 million in a Series B funding round, led...

Mimo, the SMB Financial Management Platform, Secures $8.5 Million in Funding

Mimo, a UK-based platform designed to simplify global payments, cash flow, and financial management for small and medium-sized businesses (SMBs) and accountants, has successfully raised...

RBA Sparks Debate Over Plans to Decommission the Bulk Electronic Clearing System

The Reserve Bank of Australia has emphasized the need for clearer planning regarding the decommissioning of the Bulk Electronic Clearing System (Becs). They argue that...

Mexican Digital Bank Plata Secures $160 Million in Funding

Less than two years after its inception, Mexican digital bank Plata has reached unicorn status following a $160 million Series A funding round, valuing the...

Nubank Collaborates with OpenAI to Enhance Customer Experience

Brazil's Nubank is collaborating with OpenAI to enhance services and features for its 114 million customers. The digital banking giant initially partnered with OpenAI to...

US Consumer Fraud Losses Exceed $12.5 Billion in 2024

Americans experienced losses exceeding $12.5 billion due to fraud in 2024, marking a 25% increase compared to the previous year, according to data from the...