There are clear advantages associated with the growth in digital banking services and features. Consumers can open accounts and apply for loans and mortgages within minutes, transfer money at the click of a button, and make use of many tools to track spending and make savings. 

Research from personal finance website finder.com estimates that the UK could spend a total of £828 million on credit card interest over the holiday season. An estimated 23 million Brits plan to use credit cards to cover their Christmas spending, with an average predicted expenditure of £627 each. This estimate is based on paying off balances within 6 months, with an average annual purchase rate of 25.58%. 

The true cost of things

Tata Consultancy Services (TCS) announced the launch of its innovative Invisible Tickets solution, built in partnership with ING Bank, to help railways and public transport operators worldwide transform the commuting experience.

FinTech Wales, a non-profit independent membership organisation for the FinTech and Financial Services industries in Wales, has partnered with The London Institute of Banking & Finance (LIBF) to offer an exclusive, five module course for professionals in FinTech to deepen their understanding of sustainability strategies. 

BKN301 Group, a Fintech company offering Innovative Payments and Banking-as-a-Service solutions with a focus on high-growth markets, especially in the MENA area, continues its development strategy, fostering its growth in the Middle East, especially in Qatar, where it opened a new branch last July, that will help the company better serve the Arabic Gulf.

STICPAY, a leading global e-wallet service provider and payment gateway, today announces a new strategic partnership with Ness LAB, a pioneering research company dedicated to building a blockchain-based information economy. 

The Consumer Financial Protection Bureau (CFPB) and 11 states announced today that Prehired will provide more than $30 million in relief to student borrowers, for making false promises of job placement, trapping students with “income share” loans that violated the law, and resorting to abusive debt collection practices when borrowers could not pay.

Financial institutions and organizations should fortify their defenses in 2024, as threats will surge driven by AI and heightened automation according to Kaspersky experts. In it’s crimeware report and financial predictions for 2024, the cybersecurity company anticipates an increase in cyberattacks, exploitation of direct payment systems, the resurgence of Brazilian banking trojans, and a rise in open-source backdoored packages.

PayPoint is pleased to announce that it is expanding its partnership with Yodel and Vinted across its Collect+ network, the leading Out of Home parcel pick up, drop off and send service in the UK.

Form3, the cloud-native account-to-account platform, is delighted to announce it will be providing Klarna, the AI-powered payments network and shopping assistant, with SEPA connectivity to bolster its customer offering in Europe as part of its wider international growth strategy.