Markets

Mastercard has said that it will acquire a minority stake in the fintech operations of MTN Group, which is the largest cell phone provider in Africa. The signing of an agreement deal between the two will happen soon as the...

The Bank of England faced an outage on Monday that led to the shutting down of crucial bank systems. The technical glitch resulted in the closure of a system that can process around £1 trillion worth of transactions daily. Bank...

PayPal has announced the appointment of Intuit executive Alex Chriss as the new President and CEO. Chriss' appointment comes into effect on September 27, 2023, and he will join the company's Board on the same date. PayPal appoints Alex Chriss...

UBS, the largest banking institution in Switzerland, has agreed to pay $1.44 billion in penalties. The penalties will go towards settling fraud claims as the Swiss bank is accused of misleading investors in the United States through residential mortgage-backed securities...

TSB and FinTech Scotland have set up applications for startups to participate in their annual Innovation Labs program. These applications come amid the prospect of a full-scale commercial launch for its customer base in the UK. TSB and Fintech Scotland...

The CEO of the Coinbase cryptocurrency exchange, Brian Armstrong, has said there are issues with the user experience on the Coinbase mobile application. The CEO attributed the UX issues on the app to the effects of the “Onchain Summer,” saying...

The US Federal Reserve is creating a new supervisory division that caters to the complex technology partnership deals between banks and non-banking entities, the cryptocurrency industry and the fast-evolving blockchain technology. Federal Reserve sets new supervisory unit for complex technology...

The UK government plans to explore the likelihood of integrating open banking features within Gov.UK Pay. Gov.UK Pay is a government service that organizations in the public sector can use to accept online card payments. UK government to explore open...

Revolut, one of the leading financial apps globally, seeks to promote financial inclusion. The platform launched in Brazil in May and is now looking to expand rapidly into the LATAM region. LATAM is one of the key geographic areas needed...

Hirose Financial UK Limited, a company that provides trading services for the retail forex industry, has reported a massive increase in profits for the financial year that ended March 31, 2023. The profits reported by the firm during the fiscal...

The founder and former CEO of bankrupt cryptocurrency exchange FTX is heading to jail after a US judge revoked his bail. US District Judge Lewis Kaplan said there was probable cause that the former crypto mogul had tampered with witnesses...

The Bank of England plans to recruit researchers and academics across the UK. These new hires will be part of the bank’s CBDC Academic Advisory Group (AAG). The recruitment drive is the latest development announced by the bank in its...

ANZ will invest in a new security feature that detects mule accounts. Mule accounts can be used to obtain funds from the victim of scam campaigns and other fraudulent activities. The new tool has adopted artificial intelligence (AI) and machine...

The Reserve Bank of India has announced integrating artificial intelligence (AI) in making UPI payments. Conversational payments are the ones processed during a chat or a messaging conversation. The payment in such transactions will be processed when one of the...

The Nigerian Exchange Limited (NGX) has partnered with the Central Securities Clearing System (CSCS) Plc and Euroclear for a dollar settlement platform. This platform will allow startups in the tech industry to secure capital in dollars. Nigerian Exchange to create...