Citigroup Pty Limited has to pay approximately $5 million to around 230,000 customers, for failing to properly disclose that credit card international transaction fees apply to Australian dollar transactions where the merchant uses an entity based overseas to process its transactions.

ATB Financial has joined forces with KPMG in Canada and global fintech matchmaking firm, Matchi to run a Customer Onboarding Innovation Challenge that aims to reimagine customer onboarding and management through collaboration with fintech firms. 

Otherwise, France’s first peer-to-peer insurance platform, renovates insurance, followed by launches of the first P2P health insurance product digital, fair and community-driven.

Custom Connect, one of the world’s few independent carrier neutral connectivity providers, is going beyond industry standards to offer global enterprises greater insight into their far-reaching networks and business-critical applications.

CC Insight launched today at the Connecting the Cloud event, an Industry get together for leading players in the European cloud arena, organised by Custom Connect in cooperation with Equinix, Fuze, Huawei, IPKnowledge, NetDialog and RIPE NCC.    

As new Accenture research demostartes Artificial intelligence (AI) and the internet of things (IoT) now comprise almost half of total investment in insurance technology (insurtech) startups worldwide. The research, which includes new analysis of CB Insights data on 450 insurtech deals over the last three years, appears in a new Accenture report titled “The Rise of InsurTech.” The report was released today in conjunction with Accenture’s Fintech Innovation Lab in London, which for the first time includes a dedicated insurtech stream comprising leading industry startups. 

Wells Fargo & Company (NYSE: WFC) announced today that it has added more than 2,500 Axis Bank locations to its ExpressSend® remittance payout network in India, bringing the total number of locations in that country to more than 8,300, in addition to nearly 35,000 ATMs. Wells Fargo also announced that beginning April 8, 2017, it will offer a $0 transfer fee for all ExpressSend transactions sent to India, extending pricing that was previously available for transactions larger than $500.

Today the Basel Committee on Banking Supervision unveiled its latest progress report on banks' implementation of the Principles for effective risk data aggregation and reporting. 

Harbortouch, a market leader in point-of-sale (POS) payment solutions, is setting up a product development division in Lithuania. The division, which will be the company’s first outside the US, is expected to employ approximately 60 IT specialists.

Today Commcise, the eminent provider of integrated commission management solutions for investment management firms, and ITG, a major independent broker and financial technology provider, reported that their research payment and management technology solutions have been integrated to provide a seamless end-to-end MiFID II research solution. 

nCino, the worldwide leader in cloud banking, today announced that $23 billion-asset Valley National Bank has selected its Bank Operating System to boost efficiency and enhance communication across the commercial loan process.