Markets

ANZ is planning to set up a major tech hub in Brisbane. The company’s regional expansion aligns with the plan to acquire Suncorp Bank. As part of the plan, the company plans to hire 700 employees with expertise in cloud,...

Visa is facing a fresh investigation by the US Department of Justice (DoJ). The agency is accusing the payments company of charging retailers additional fees over not using the proprietary tokenization technology the payments firm offers. DoJ starts probe against...

Zolve, a neobank targeting immigrants to the United States, has announced a partnership deal with Gigs. The partnership seeks to support the creation of its branded mobile phone plan service. Zolve offers a wide range of services to immigrants in...

Basware, through its wholly-owned subsidiary known as Genesis Bidco Limited, has announced its intention to make an offer to purchase the entire share capital of Glantus Holdings PLC. The company is a leader in AP automation and invoice processing. Basware...

UK neobank, Monzo, is planning to venture into the pensions market. The neobank will be venturing into this area by hiring a product manager in charge of the retirement proposition at the bank. Monzo plots to expand into the pensions...

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...