European Commission clamps down on non-compliance with the 5th Anti-Money Laundering Directive (5MLD)
- 6 years 2 weeks ago
- Risk Management
LexisNexis® Risk Solutions, the global analytics provider, is today reacting to the European Commission’s announcement that it is preparing to clamp down on those countries who have failed to implement the 5th Anti-Money Laundering Directive (5MLD), by issuing a guide to help firms comply with new rules.
SoFi Supercharges its Debit and Credit Cards with Mastercard
- 6 years 2 weeks ago
- Payments
SoFi, the digital personal finance company, and Mastercard today announced a multifaceted partnership to offer a suite of products and in-person experiences to its nearly one million (and growing) SoFi members.
MUFG Union Bank Launches Real-Time Payments for Clients on the RTP® Network
- 6 years 2 weeks ago
- Payments
MUFG Union Bank N.A.
Europeans spend €4 trillion per year on payment cards
- 6 years 2 weeks ago
- Payments
Expenditure on European payment cards has grown by a third since 2014 to reach €3.9 trillion, as cards are used increasingly for everyday purchases Rapidly rising usage spurs card spending RBR’s latest research, Payment Cards Issuing and Acquiring Europe 2020, shows that in 2018 cardholders in the UK, France and Germany spent the most, with the total increasing by 26%, 19% and 22% respectively since 2014. The fourth largest market, Russia, saw...
Assetz Capital hits IFISA milestone with £100m invested
- 6 years 2 weeks ago
- Investment
More than £100m has now been invested through Assetz Capital’s Innovative Finance ISA (IFISA), making up 23% of all invested funds on the Assetz platform. Over 5,000 Assetz Capital IFISAs have been opened since it launched in 2017, with an average of more than £19,000 held in each of these accounts – nearly three times the average of £6,409 that is held across all ISA types according to the latest HMRC statistics available for the whole market.
State Street Announces New Partnership With iCapital Network
- 6 years 2 weeks ago
- Investment Management, Alternative Finance
State Street Corporation (NYSE: STT) today announced it has entered into a new partnership with iCapital Network[1], the financial technology platform setting the industry standard for delivering access and efficiency in alternative investing.
Market Logic and Visa Win 2020 BIG Innovation Award
- 6 years 2 weeks ago
- IT Innovations
Market Logic announced that Visa & Market Logic have been named a winner in the 2020 BIG Innovation Awards presented by the Business Intelligence Group.
EMQ Opens Gateway to China
- 6 years 2 weeks ago
- Banking
EMQ, a global financial settlement network today announced that customers from around the world can make secure and reliable cross-border money transfers to their family or friends leveraging the company’s extensive real-time pay-out network.
Intel Examines Whether AI Can Recognise Faces Using Thermal Imaging
- 6 years 2 weeks ago
- Artificial Intelligence
Researchers from Intel have published a study examining whether AI can recognise people’s faces using thermal imaging. Thermal imaging is often used to protect privacy because it obscures personally identifying details such as eye colour. In some places, like medical facilities, it’s often compulsory to use images which obscure such details. AI is opening up many new possibilities so Intel’s researchers set out to determine whether thermal...
F-Secure UK awarded grant to research autonomous vehicle network security
- 6 years 2 weeks ago
- Cybersecurity
Cyber security provider F-Secure has won a £25,000 grant to research the security of connected and autonomous vehicle (CAV) networks. The research will leverage F-Secure Consulting’s expertise in securing critical national infrastructure to help the company contribute to the integrity and trustworthiness of the emerging CAV ecosystem.
Revolut enters UK savings market with easy-access account that offers a market-leading rate of 1.35%
- 6 years 2 weeks ago
- Banking
Revolut, the global financial platform with over ten million customers in the UK and Europe, has today entered the UK savings market, in partnership with Flagstone, offering an easy-access savings account with a limited market-leading interest rate of 1.35% AER. The new Savings Vault, which is FSCS protected up to £85,000 through Paragon Bank, is an addition to Revolut’s popular Vaults feature.
Monzo and Starling Among Account Switching Winners
- 6 years 2 weeks ago
- Retail Banking
Just five UK banks, two of them challengers, managed a net gain of customers in the third quarter of 2019, according to figures from the Current Account Switch Service. Nationwide Building Society continues to have the largest net switching gain among the Current Account Switch Service’s 49 participant, putting on 25,355 customers in the quarter. Digital challenger Monzo gained 21,576, HSBC 17,204, Starling 7,075 and tiny ethical player Triodos...
Visa Takes 'Access To Cash' Programme Industry-Wide
- 6 years 2 weeks ago
- Payments
Visa is taking its 'access to cash' programme industry-wide, working with partner banks to offer high street retailers in remote and rural locations a fee for processing cashback transactions over the counter. The introduction of the UK-wide programme follows a year-long trial with Lloyds Bank, which offered rewards to retailers in return for providing cashback services. The initiative comes in the wake of a backlash over the creation of 'cash...
Barclays announces new fintech partnership with insurance pioneer, Nimbla
- 6 years 2 weeks ago
- Insurtech, Banking
In a high street banking first, Barclays has announced a partnership with Nimbla, a pioneer of single invoice insurance. Barclays’ one million SME clients will have the opportunity to benefit from the partnership, with the new ability to take out insurance against individual invoices, rather than the whole book.
BMO To Buy Clearpool
- 6 years 2 weeks ago
- Trading Systems
Bank of Montreal has agreed to buy New York-based trading technology outfit Clearpool Group. Financial terms were not disclosed. Founded in 2014, Clearpool has about 60 employees and over 100 clients, primarily US broker dealers who use its trading technology and execution services. Once the deal goes through, BMO says Clearpool clients will maintain access to its technology and open architecture platform. The unit will remain independent post-...
