Credit reference agency Equifax UK has launched a first-of-its-kind solution for lenders, combining bureau insights with real-time transaction data accessed via Open Banking and statistical estimates to boost affordability assessments and customer outcomes.

New research from Pay.UK, owner and operator of the Current Account Switch Service, reveals a stark generational divide in financial confidence and knowledge across the UK.1   Younger generations, particularly Gen Z, reveal lower levels of financial competence, with only 26% able to correctly calculate compound interest and just 35% understanding how savings accounts work. In contrast, 47% of Baby Boomers were able to correctly calculate compound interest, while 59% understood how a savings account worked.

Authorised Push Payment (APP) fraud continues to be one of the most pressing concerns for financial services, the payment industry, law enforcement, and the general public – and new developments in cross-border payments may be making it easier. A new study by The Payments Association, the UK’s community and advocate for the payments industry, highlights how the speed and anonymity of cross-border payments, and the global patchwork of different regulatory regimes, is being exploited by criminals.

Philip Jenks, who has held leadership roles in the financial services industry for more than 50 years, has been named as a non-executive director (NED) for Chetwood Financial Limited, trading as Chetwood Bank.

Capital.com, the high-growth global trading platform and fintech group whose trading volumes surpassed USD$1trn in 2023, today announces a new regional leadership model to better support rapid growth and innovation across key markets in which it is regulated. In Q1 2024 the Board of Directors approved plans for Capital.com to transition to a regionally focused model. Each jurisdiction of the Group’s operations will be overseen by a standalone CEO.

Bitso — Latin America's leading crypto-powered financial services  company — has enabled the ability to send and receive bitcoin via the Lightning network for its more than  8 million users in the region. In this way, Bitso strengthens the resources that allow cryptocurrencies to be  used in use cases such as local payments, cross-border transactions, and remittances. 

Redgate, the end-to-end Database DevOps solution provider, today announced that its core solutions are now listed in Amazon Web Services (AWS) Marketplace.

GFT Technologies is collaborating with NVIDIA to bring advanced AI solutions to the financial services and manufacturing sectors. The collaboration will combine GFT’s deep expertise in digitalising global banks, financial institutions and manufacturers with NVIDIA’s AI software tools and accelerated computing platform for generative AI to drive a new level of innovation and efficiency in both industries.

For years, the card didn’t change. Built for an analog world, one card for one type, debit or credit. The Visa Flexible Credential has fundamentally changed that, allowing people to pay from different account funding sources with a single card. Today, Visa (V: NYSE) announced that the Flexible Credential is expanding to the U.S. and will be rolling out with Affirm, and in the United Arab Emirates with Liv, giving millions more people greater choice and control over how they pay.

Nubank has reached 100 million customers in Brazil, a number that represents 57% of the adult population in the country. In May, Nu had already reached this milestone globally.