Today at FICO® World, the industry's leading analytic and AI event, FICO announced that HSBC, one of the world’s largest banking and financial services organizations, has used AI-powered mathematical optimization technology to grow its credit card portfolio. The project saw a 15% uplift in monthly spending by customers on their cards, as well as improvements in active card use and share of wallet, without increasing bad debt.

BNY Mellon, the global financial services company, is collaborating with Accenture, a leading professional services company, to modernize financial services offerings with an initial focus on data management and analytics product development and delivery. The companies will use leading technologies to unleash the power of data at new speed to help their joint clients drive accelerated growth.

We are in precarious economic times, the rise in cost of living, inflation and wage stagnation are all significant pressures contributing to many people being denied access to regulated financial services. Reports show that one in seven adults in the UK fall under the definition of ‘financially excluded’. It is crucial for the sake of economic growth, to provide financially inclusive services to this market segment. 

Global Fintech leader Broadridge Financial Solutions, Inc. today announced that SBI SECURITIES Co., Ltd. has selected Broadridge’s post-trade solution to launch its equities brokerage services to clients in the UK, through its subsidiary SBI Shinsei International Limited. This is in addition to the existing relationship with Broadridge to process Japanese equities transactions in Hong Kong and Singapore.

Lloyds Bank Business & Commercial Banking has appointed Linda Weston as Head of Commercial Cards. Starting in June, Linda will be based in London and report into Chris Loring, Managing Director, Lending & Working Capital.

London-based RegTech company, docStribute, today announces the appointment of Manila McLean to the board of the Company as an independent Non-Executive Director with effect from 15 April 2024.

SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, has announced a strategic investment in Algbra, an ethical finance-focused and sharia-compliant UK-based fintech. As part of the agreement, Shoal, SC Ventures’ sustainable finance platform, will partner with Algbra. The terms of the deal are undisclosed. 

Fils, a pioneering force in climate-positive transactions, empowering businesses of all sizes to embed climate-positivity into transactions using their APIs, is thrilled to announce a strategic partnership with Aion, a leader in digital banking solutions. This groundbreaking collaboration aims to set new standards in sustainable finance, leveraging cutting-edge technology to drive meaningful change in the financial industry across the MENA region.

Frollo, Australia's leading Open Banking provider, calls for a collaborative, use case based approach to enhancing data quality in the country's Consumer Data Right (CDR) ecosystem. With nearly four years of experience in the space, Frollo has a unique vantage point on data access and quality in the Consumer Data Right.

Tabs, an Accounts Receivable (AR) platform for B2B businesses, today announced a $7 million seed funding round led by Lightspeed Venture Partners. This brings the company’s total amount raised to $12 million, including a pre-seed round from Primary Ventures. The investment will fuel Tabs' mission to reimagine B2B AR processes at a critical time when most businesses struggle to collect cash and find profitability.