Markets

In 2023, the report from ZScaler's State Ransomware revealed that the ransomware attacks have surged 70% compared to the previous year. The payouts exceeded one billion USD, and the demanded ransoms averaged between $100,000 and $5 million. This figure does...

China is urging Mastercard Inc. and Visa Inc. to decrease their fees for bank card transactions in the country, as per a source who knows about the situation. This action is part of a plan to make it easier for...

Forex market infrastructure entity CLS Group has reached a significant milestone. Last week, the company processed $19.1 trillion of foreign exchange (forex) payments. This new record broke the old $16.3 trillion recorded in December last year. Per the press release,...

Scandinavian Airlines (SAS) and Lunar, a Danish neobank, recently launched a joint debit card for the airline’s users. The card will allow passengers to gain and use EuroBonus points, which can be used for SAS flights. https://x.com/SAS/status/1802959525554671926 The New Debit...

Wednesday, June 18, saw the start of EBAday 2024 in Lisbon — the annual summit for leading payments and transaction banking executives. During the first day of the summit, David Birch, an author, advisor, and commentator on digital financial services,...

The Financial Market Supervisory Authority (FINMA), the regulatory authority of Switzerland, recently opened bankruptcy proceedings against FlowBank — a challenger bank in the investment banking space. According to the regulator, FlowBank saw serious, repeated breaches of its capital requirements. FINMA...

Fiserv, Inc., a top company providing payment and financial services technology, shared that Takis Georgakopoulos will become a Senior Advisor and Executive Vice President. He will also become a member of the Management Committee starting on September 3, 2024. Georgakopoulos...

Corpay, a corporate payments company with a global reach, recently announced the launch of its new office in Auckland, New Zealand. The new office will help the firm establish a foothold in the country and cement its presence in the...

The UK’s General Election is getting closer, with only a few weeks left. However, candidates continue to run their campaigns in an attempt to attract as many votes as possible. The country’s Labour Party’s recent announcement reiterated that it will...

As part of its broader collaboration with a Commercial lending platform with AI modules, Citi has invested strategically in Numerated. As part of the deal, Citi's users across the globe will be provided with an AI-enabled financial spreading solution by...

Uzbekistan mobile bank TBC, part of the TBC Group, has received a $10 million loan from the impact investment firm responsAbility. This is an important step for TBC Bank as it keeps growing in Uzbekistan, the most populated country in...

According to reports, Revolut is striving to become the highest-valued startup in Europe, targeting a $40 billion valuation. If the company achieved its goals, it would exceed the Market value of Société Générale and NatWest and be at the same...

Laybuy, a Buy Now, Pay Later (BNPL) lender headquartered in New Zealand, has officially entered receivership after failing to find a buyer for the ailing business. Three Laybuy Entities Enter Receivership Due To Market Challenges Laybuy initially emerged on the...

Apple recently announced plans to kill off its Buy Now, Pay Later (BNPL) service, Apple Pay Later. The service initially went live only a year ago, but now, the company plans to switch its focus and start collaborating with third...

Celebrity scams have been among the most popular types of scams for years now, to the point where the UK bank NatWest created what it calls the Celebrity Scam Super League. According to the bank’s celebrity scam list, the UK...