European Central Bank (ECB) is leading a cooperative effort to investigate the ability of distributed ledger technology (DLT) to resolve wholesale transactions utilizing central bank funds. The preliminary stages of examinations will involve 10 market players, six DLT operators, and...

Santander has reported that some employee and customer data in its database hosted by a third-party provider was breached by an unauthorized party. However, the Spanish bank announced that this breach did not affect its systems and operations. The bank noted in...

Deutsche Bank recently declared its participation in the Monetary Authority of Singapore’s (MAS) Project Guardian (as part of the wealth and asset management workstream). The joint effort focuses on examining the possibility of asset tokenization apps in regulated financial markets....

JP Morgan has reached an agreement with Broadridge. The deal will see JP Morgan provide its JPM Coin virtual currency as a settlement solution for Broadridge's Distributed Ledger Repo (DLR) platform. The alliance marks the first occasion where JPM Coin...

Europe’s second largest neobank, Bunq, has enhanced its GenAI assistant, Finn, ensuring it is fully conversational. The fintech has also launched its Worldwide single-trip travel insurance, in collaboration with Qover, an embedded insurance provider. Bunq Announces Over 12.5 Million Customers And €8 Billion...

Several Members of Parliament (MPs) in the UK have proposed a parliamentary motion against the grant of new legal powers to the government. These powers will allow them to watch over millions of people’s bank accounts. The MPs are certain that it poses the threat of triggering a scandal...

HSBC UK has introduced a new saving feature on its banking application. The financial service company launched the Savings Goals service to assist customers in identifying, managing, and planning their saving goals. Customers who use the application can select from a...

UBS is striving for a quick and seamless IT incorporation with recently purchased Credit Suisse, transferring only 10% of its former competitor's 3000 applications. The company acquired Credit Suisse, its fellow Swiss financial institution, in an urgent rescue in 2023. It anticipates...

Money-moving fintech TabaPay has withdrawn from a deal to purchase the assets of bankrupt Banking-as-a-Service platform Synapse. A spokesperson from TabaPay has informed the press that the company has sent a “termination notice of the deal to buy the assets due...

Fintech Farm, a financial technology company headquartered in London, has just concluded its latest funding round. The company has raised a staggering $32 million in funding. The investment consists of an initial Series B round conducted by Nordstar, a London-based...

Western Union reopened its money transfer operations to Cuba on Thursday. Its services were paused in January after the Cuban government disclosed a “cybersecurity incident” impacting its banking mechanisms. Its operation has been halted since January 28, a couple of...

Gary Gensler, the Securities and Exchange Commission Chairman, has stated that the cryptocurrency industry has failed to provide investors with adequate disclosure. He stated that the traditional financial space offers more disclosure to investors than the cryptocurrency sector. Gensler's remarks...

Wells Fargo has introduced its most recent product for business operators, the Signify Business Cash World Elite Mastercard. It is designed to cater to the needs of the cash rewards corporate credit card industry. This innovative card seeks to offer...

The US Payment Systems Regulator is looking into expanding its scam reimbursement rules to cover transactions made through the high-value payments network of Chaps. In June 2023, the payment systems regulator released its policy mandating payment companies to compensate victims...

Google Wallet has been launched in India, but the current Google Pay app will continue to serve as the primary platform for all payment-related activities in the country. The Wallet app will allow users to access gift cards, public transport...