Divilo, a Spain-based fintech providing B2B financial services, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to protect Divilo’s growing services against money laundering, sanctions violations, and other financial crimes. 

SRM (Strategic Resource Management), an independent advisory firm serving financial institutions and other industries across North America and Europe, today shared commentary on the trends it predicts will make the most-significant impacts in 2023.

Innovation is thriving in the payments industry. Fuelled by digital transformation, many technological developments have been implemented in the past few years, resulting in a greatly enhanced customer journey. Contactless payments, digital wallets, self-service checkout, omnichannel, BNPL, are examples of tools and methods which are becoming parts of our daily life.

The full-stack identity verification, fraud prevention and compliance startup, iDenfy, partnered with Primo Dialler, the UK-based telecommunications company specializing in contact centre software. iDenfy’s biometric ID verification solution will ensure a smooth and secure onboarding process. 

The UK government's recent announcement of plans to launch a public consultation on a national cryptocurrency, or "digital pound," by Economic Secretary to the Treasury Andrew Griffith, has sparked excitement and curiosity. Griffith stated that the UK is committed to becoming a world crypto hub and is "a long way down the road" to establish a regime for the wholesale use of stablecoins for payment purposes. 

UK banks have been criticised for failing to tackle issues with their risk management systems, despite regular messaging.

The Prudential Regulation Authority (PRA), the regulatory arm of the Bank of England responsible for prudential regulation and supervision of banks, set out its priorities for 2023 in a letter to chief executives of institutions.

Bybit, the world’s third most visited crypto exchange, has announced a partnership with Copper.co, a leading provider of institutional digital asset custody and trading solutions, to offer custodial and settlement services for Bybit’s institutional clients via Copper’s market-leading ClearLoop service. Subject to contract, Bybit expects to integrate into the ClearLoop service in Q1 2023.

As per a recent industry report put forward by Global Market Insights, Inc. Digital Lending Platform Market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 59 billion by 2032 with a projected CAGR of 20.5% over 2023-2032.

PayPoint today announces a new partnership with Funding Circle that will see the UK’s largest small business lending platform now provide funding access to PayPoint’s network of 28,000 UK retailer partners.

Open banking has been a game-changer for the financial industry since its introduction five years ago.

The concept of allowing customers to share their financial data with third-party providers opened a host of new possibilities for financial services and products. However, the industry is now moving beyond this to the next stages of development: open finance and open data.