On July 19, 2024, Microsoft faced a significant IT outage affecting various services, including its cloud-based platforms.

The outage, which began early in the day, caused widespread disruptions for businesses relying on Microsoft's cloud services. Microsoft has since reported that the issue has been resolved, but the incident has raised questions about the robustness of their infrastructure.

D•One, part of the ClearScore Group, today announces that NewDay, a leading provider of unsecured consumer credit in the UK, has gone live with D•One’s open banking connectivity and transaction categorisation products. This move to provide deeper affordability assessments supports responsible access to credit, as well as financial inclusion.

Building the UK’s greener, digital bank, Tandem is proud to announce it has approved £650m in new lending in green and ‘pathway to green’ home improvement lending (HIL). This milestone highlights Tandem’s ongoing commitment to helping UK households reduce their carbon footprint and enhance energy efficiency. 

Lemonade, the digital insurance company driven by AI and social impact, announced its 2024 Giveback, marking the eighth consecutive year of giving back to dozens of local and global charities chosen by customers.

Climate risk continues to be a top concern for financial institutions and a growing priority for the regulators, which is increasing the pressure for financial institutions to focus on it more. There is still much conversation about understanding the true impact of climate risk regulation as it is relatively new to the industry. Financial institutions are in the process of preparing for different climate-related scenarios so that they can understand their risk exposure in this area and prepare accordingly.

The U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) published a suite of resources to share with financial services institutions on effective practices for their secure cloud adoption journey. These deliverables are the result of a year-long public-private partnership of the Financial and Banking Information Infrastructure Committee (FBIIC) and the FSSCC.

To transform and expand their prime brokerage business lines and as part of its broader efforts to add and enhance value for its clientele, AmInvestment Bank, a company in the Ambank Group and one of the largest banking groups in Malaysia, has deployed global Fintech leader Broadridge Financial Solutions, Inc.'s Securities Finance and Collateral Management platform to enable their Securities Borrowing and Lending product offerings.

New York-based Coast, which offers a simple and smart way for companies in the United States to manage fuel and fleet spending, today announced it has raised $40 million in new Series B financing, led by ICONIQ Growth. The round included participation from existing investors Accel, Insight Partners, Vesey Ventures, and Avid Ventures, as well as new investors Thomvest.

Jifiti, a global embedded lending technology company, announced today the release of its Tap Now, Pay Later™ technology, which enables consumers and business customers to easily add their approved loan or credit funds into any digital wallet, including Apple Pay, via virtual card. The customer can then simply tap their mobile device to pay, as with a regular card transaction, at any point of sale.