UBS plans to acquire Credit Suisse. The combination is expected to create a business with more than USD 5 trillion in total invested assets and sustainable value opportunities. It will further strengthen UBS’s position as the leading Swiss-based global wealth manager with more than USD 3.4 trillion in invested assets on a combined basis, operating in the most attractive growth markets.

DECTA, a leading provider of end-to-end payment infrastructure, has ramped up its strategy for UK growth, appointing Scott Dawson as Head of Sales and Strategic Partnerships.

corfinancial^®, a leading provider of specialist software to the financial services sector, announces that New York-based investment manager Jennison Associates (Jennison) has implemented Salerio, their post-execution trade processing, matching, confirmation and settlement instruction management system. 

Tamara, a fintech startup based in Saudi Arabia, has secured a $150 million debt facility in its latest fundraising round.

Over the past few years, Open Banking – a technology that gives consumers and businesses the legal right, for the first time, to access their payment accounts via third-party providers (TPPs), has become a global phenomenon, with studies estimating that the Open Banking market will be valued at $123.7 billion by 2031 from the $13.9 billion in 2020. 

The last three years have seen considerable change in how the UK financial services sector operates. The expectations of consumers have shifted, prompted by the pandemic and a need for better digital financial tools for a smoother customer experience. The inventiveness of fraudsters has also put another pressure on financial institutions. There are probably more than five ways digital payments will alter the way financial services operate in 2023 – but these are what we believe are some of the key changes to expect this year.

Planixs, the market-leading provider of real-time, intraday cash, collateral and liquidity management solutions, has today announced that Nick Jepson has been appointed as Chief Revenue Officer to lead all the firm’s revenue-related activities.

Jon Lukomnik – one-time fiduciary for the five New York City pension funds and lauded by Forbes as one of the pioneers of modern corporate governance – is joining investor fintech Tumelo as an advisor.

Jon will provide strategic guidance and support as Tumelo pursues its mission to democratise shareholder voting.

Global identity verification provider ID-Pal today announced a partnership with Keystone Talent Bank to deliver real-time digital right-to-work checks. ID-Pal is now integrated as part of their services within Talent Bank, to allow users to conduct checks in line with the UK Digital Identity & Attributes Trust Framework (UKDIATF).

Micro-investing platform Wombat is launching one of the lowest-cost Junior ISAs (JISA) in the UK following surging demand for the tax-free wrapper from its fast-growing base of investors.

From 1 May, investors can access Wombat’s carefully curated range of funds and stocks through a JISA for an annual charge of just 0.10% per year, with a subscription fee of £1 a month. Savers can invest as little as £10.