As the festive season approaches, UK consumers are expected to spend an impressive £28 billion. However, this surge in spending brings with it a worrying rise in identity fraud. Online criminals are continually refining their methods to exploit personal information, placing significant pressure on financial services firms to ensure their fraud-prevention systems are robust and future-ready.

A growing threat 

Neonomics, a leading open banking company, is pleased to announce that it has been selected by Kameo, one of the fastest growing Scandinavian investment platforms to make it easier for users to streamline and automate their payments through open banking. By seamlessly connecting Kameo users to their bank accounts across all Sweden, Norway and Denmark, Nello Pay will enable faster and more efficient payments that simultaneously reduce costs while optimizing conversion.

Global fintech SumUp today announced the expansion of its Cash Advance product that first launched in the UK in 2020. Cash Advance will now be available in several new European markets: Germany, France, Ireland, and the Netherlands.

Digital Wallets and Super-Apps

Global Fintech leader Broadridge Financial Solutions, Inc., has announced the appointment of Stephanie Clarke as Head of International Strategy and Corporate Development, based in London. Previously, Clarke served as Senior Vice President of Data and Analytics at Broadridge.

Aryza Group, a leading provider of financial software solutions, has announced a partnership with TransUnion, a global information and insights company.

The partnership will leverage the strengths of both companies to offer comprehensive credit and debt management solutions across all Aryza platforms and services in the UK and Ireland, whilst keeping consumer well-being at the heart of decision making.

Clear Junction, a global leader in cross-border payments for regulated financial institutions, has revealed a significant gap in the preparedness of payment industry leaders to navigate the complexities of the Markets in Crypto-Assets Regulation (MiCA) regulation, which is now in effect across the EU.

LexisNexis® Risk Solutions, part of RELX, has entered into an agreement to acquire IDVerse™, a provider of AI-powered automated document authentication and fraud detection solutions. IDVerse will become part of LexisNexis Risk Solutions Business Services.