The Federal Reserve Board on Friday took action to address consumer compliance breakdowns by Green Dot, fining the firm $44 million for numerous unfair and deceptive practices and a deficient consumer compliance risk management program.

Klarna, the AI-powered global payment network and shopping assistant, today announced the integration of Sofortüberweisung into the Klarna environment. With this, Klarna consolidates two well-known services: The Sofortüberweisung function will from now on be available as part of the Klarna Pay Now product range. The aim is to increase the security of the checkout process for both consumers and merchants and to optimize user-friendliness. Consumers in Germany will continue to see the name "Sofortüberweisung" in their payment process.

Airwallex, a leading global payments and financial platform for modern businesses, continues to scale rapidly in the region, with a 152 percent increase in revenue year-on-year (YoY*) across Europe, Middle East and Africa (EMEA). It also grew its transaction volume YoY by 125 percent, amid a challenging macroeconomic environment for the fintech sector. 

European investor Pollen Street Capital invests 35 million EUR in alternative lender Finbee Verslui. This investment will enable more than 1,500 businesses to be financed faster and on more favorable terms than before.

Lending faster and on better terms

Global open banking leader Ozone API has launched a guide to the OBL’s updated UK open banking standards to support CMA9 banks, non-CMA-9 stakeholders and third-party providers (TPPs) through the transition. 

Global Relay, the leading provider of communications compliance solutions for regulated industries, announces its integration between OpenAI’s ChatGPT Enterprise Compliance API and Global Relay’s financial compliance platform.

BBMSL, a leading payment solutions provider in Hong Kong, announced a strategic collaboration with PayMe by HSBC today, becoming a payment acquirer for one of the territory's most popular digital wallets. This partnership allows BBMSL's merchants to provide PayMe as a secure and convenient payment option for their customers.

Ingenico, the global leader in payment acceptance and services, is pleased to announce the appointment of Anushka Weeratunga as its Regional Managing Director in APAC and a member of the Executive Committee, effective immediately.

Anushka, who served as Country Business Leader for the Pacific, has been a driving force of Ingenico's business growth in the Pacific region over the past three years.