In recent years, retail banks have lost their shine. Manyhave become a storefront for financial products without deeper insight into their customers’ wants and needs, making it feel as though they’re blindly attempting to sell banking products. This approach is no longer cutting it: according to data from the Financial Conduct Authority, there was no change in the number of bank or building society accounts from 2017 to 2022. 

IDEX Biometrics has received a production order from Beautiful Card Corporation (BCC), in support of bank launches in Asia. BCC has obtained the Letter of Approval (LoA) from Mastercard for its biometric payment card built on the IDEX Pay platform, allowing the issuance and deployment of biometric cards globally.

UK Finance today releases its card spending data for March 2024, covering the monthly value and volume of transactions across debit and credit cards.

The data shows the number of contactless cards in issue in the UK topped 150 million (150,172,000) for the first time in March 2024. This means that contactless cards now make up 93 percent of the cards in issue in the UK.

GoCardless, the bank payment company, announces a new partnership with the Federation of Small Businesses (FSB) to offer its members practical tips and advice to help address late payments.                     .      . 

Abacus Group, a leading IT Managed Services Provider (“MSP”) to financial services firms globally, today announced it has acquired Tribeca Technology Group (Tribeca), a UK-based IT MSP also serving the financial services industry, to further strengthen its existing market presence and capabilities across the UK market.

TrueLayer, Europe’s largest open banking payments network, has strengthened its leadership team by appointing Lisa Scott as its first Chief Strategy Officer. In this new role, Scott will oversee the company’s expansion into new markets, drive consumer engagement and accelerate the adoption of its innovative open banking solutions. 

Swift today published the findings of research that shows Small and Medium Enterprises (SMEs) in the European Union feel positive about the EU’s Instant Payments Regulation, with many expecting it to save them money, improve their cash flow, and increase their competitiveness.

FINOM, a leading European digital banking solution for SMEs and entrepreneurs, today announced its entry into the Italian market with the local IBANs and integrated e-invoicing services with automated reconciliation. Following the company's recent successful launch of local IBAN accounts in France, this expansion marks another significant milestone in FINOM's mission to simplify financial management for small and medium-sized businesses across Europe.