Markets

The CHIPS network, which is the largest high-value clearing and settlement system in the private sector, has embraced the ISO 20022 messaging format. CHIPS first used the ISO 20022 messaging format on April 8, 2024, through a payment transaction between...

Revolut, a fintech giant whose headquarters are in the UK, is continuing with its expansion plans. The platform recently secured a banking license in Mexico as it pushes to expand its services in Latin America. According to Reuters, Revolut will...

Lloyds Bank, a UK high street bank, is trimming the size of its risk management division. The bank says that this division is preventing the strategic transformation of the bank. According to the Financial Times, a memo sent last month...

The International Monetary Fund (IMF) has said that organizations offering services in the financial sector have lost over $12 billion due to cyber-attacks. In a Global Financial Stability Report published earlier this month, the IMF said this money was lost...

Banking platform Santander has announced the launch of a new offering for the US market under the Openbank brand. This Openbank brand will launch during the second half of 2024. The platform will also launch in Mexico during the same...

The CEO of banking giant JPMorgan Chase, Jamie Dimon, has addressed the “critical impact” of artificial intelligence (AI) and the benefits of migrating data to the cloud. In an annual letter to shareholders, Dimon said the banking platform was planning...

Card payments giant, Mastercard, has announced releasing a new mobile virtual card that allows people to add virtual commercial cards to digital wallets. This innovative digital app seeks to give financial institutions more flexibility in delivering secure and sustainable contactless...

Clearstream, a post-trade division for Deutsche Börse, is planning to invest in Digital Vault Services (DVS), as it plans to expand its offerings in digitizing financial services. Deutsche Börse is one of the largest exchange operators in Europe. The planned...

Tastytrade, an online brokerage platform created by traders and targeting self-directed investors has announced an exclusive partnership deal with options platform, Unusual Whales. Tastytrade seeks to leverage the transparency offered by Unusual Whales to expand its offerings and assist traders...

Wagestream, a financial wellbeing app that streamlines how employees receive their salaries has announced raising £17.5 million in a funding round. The funding round was led by British Patient Capital which invested £7 million in the company. The other investors...

Alpha Group, a fintech company based in the UK, has applied to move its listing to the main market at the London Stock Exchange (LSE). The fintech consultancy firm seeks this move as part of its expansion plan. The firm...

Amazon is ditching the Just Walk Out Technology in its Fresh grocery stores in the United States. However, the tech giant asserts that it is not giving up on the technology behind this offering. The Just Walk Out technology offers...

The Monetary Authority Singapore has announced the launch of COSMIC. The latter is a centralized digital platform looking to help financial institutions share customer information to address the risks of money laundering, terrorism financing, and proliferation financing. The MAS said...

Rakuten, one of the largest financial conglomerates in Japan, has announced plans to consolidate its fintech operations into a single and consolidated platform. The plan announced by Rakuten seeks to boost synergy while also streamlining the efforts of acquiring new...

Morgan Wealth Management’s Wealth initiative has enabled users to craft over 1 million personalized plans, reaching this achievement within a year since its debut. Wealth Plan, accessible for free in the Chase Mobile app on Chase.com, is a digital money...