Customer use of Open Banking in the UK has surpassed the one million customer mark for the first time, doubling in the past six months.

With its sights set on an IPO later this year, Australian neobank Volt has closed a $70m Series C round and is now opening up a $50m Series D on a $285m valuation.

TSB is to create 100 jobs at a new IT centre to be set up in Edinburgh as part of its digital banking strategy to avoid a repeat of its system meltdown.

The new staff in Edinburgh will be IT specialists, data engineers and analysts. The bank has suffered online banking problems under a new system introduced in 2018, with 200 million customer temporarily losing access to their accounts in April of that year.

Former Standard Life chief executive David Nish has today been named as senior independent director at banking giant HSBC.

Nish, who has served on the board of the bank since 2016, will take over the role from Sir Jonathan Symonds next month. He will also become chairman of the group’s audit committee.

London-based crypto banking startup Cashaa is announcing the launch of a “Crypto Business/Broker” account to ensure crypto businesses/brokers are compliant with the FCA’s new rules for anti-money laundering and counter-terrorist finance and Fifth Money Laundering Directive (5AMLD).

DayTek Capital is pleased to announce the appointment of Christoph Flefel, as its new Chief Risk and Compliance Officer.

Dubai based fintech company specializing in payment processing is set to launch OG Bank and OG Pay (On the Go) a digital banking solution, chat based payment wallet and a digital point of sale (POS) all to be operated from mobile devices.

Metro Bank, known for its exceptional customer service, has welcomed a second cohort of colleagues onto its MSc programme in Retail and Digital Banking, which it set up with Cranfield School of Management in 2018.

Financial crime is becoming increasingly sophisticated as new threats emerge and evolve at a rapid pace. As the new decade begins, both criminals and financial institutions are prepared to take the offensive, leveraging know-how and technology in a toe-to-toe matchup.

As the financial services industry continues to adopt faster payments and greater digitisation, distinct fraud and risk management approaches have emerged, including these three best practices for 2020.

1. Balance speed with security

Acronis, a global leader in cyber protection, today announced that registration for the second annual Acronis Global Cyber Summit 2020 is now open. The premier event focused on cyber protection, the Summit will take place at the Fontainebleau Miami Beach in Miami, FL from October 19-21, 2020.