UK financial services organisations are collectively spending £34.2 billion each year on financial crime compliance (FCC), according to the latest True Cost of Compliance report from LexisNexis Risk Solutions. This figure represents an increase of 19% since 2020.

Mia-FinTech, the technology provider for banks and financial institutions based on the Mia-Platform technology, announced that it has launched Payment Integration Hub (PIH), a new application that brings together all digital payment methods in a single console.

The B2B2C offering will allow all kinds of companies to integrate and handle different payment APIs in a single modular, ready-to-market solution where they can manage the entire digital payments lifecycle.

The government has announced the launch of a national hub for FinTech, named the Centre for Finance, Innovation and Technology (CFIT), to drive the growth of the sector on a global scale. 

CFIT is supported by £5.5 million of Treasury and City of London Corporation funding and will boost growth and innovation, championing businesses and fostering job creation across the sector.  

1. Can you describe how open banking has improved 365 Business Finance’s own processes and speed of lending? 

ImaliPay, a leading global fintech-as-a-service provider, has signed a major deal with 3rd Party e-commerce fulfilment solution Renda.

Zimpler, a Swedish fintech company providing seamless and secure account-to-account payments, announced today the appointment of Stefan Andersson as its Chief Product Officer. He will take on the role starting 20 March 2023.

Digital Prime Brokerage, GCEX  (GCEX Group) is expanding into the APAC region with the appointment of Sue Cheung as Head of APAC Sales, based in Hong Kong.

The global digital payments market is now estimated to be worth more than the car manufacturing sector, and is expected to reach USD$20 trillion by 2026.

Feedzai, the market leader in fighting financial crime with AI, has joined the Global Anti-Scam Alliance (GASA) – a not-for-profit organisation whose goal is to protect consumers across the world from scams – as a corporate member.