CFPB sues Zelle operator and major banks for “widespread fraud” on payment network
The lawsuit comes as the CFPB advances its agenda before its anticipated overhaul by the Trump administration.
Regulation
The regulatory winds, they are not a-changin’
The regulatory shift globally has been towards standards, protocols and end-to-end predictability.
What the FinTech? | S.5 Episode 24 | 2024 in review and predictions for 2025
Guests Dave Wallace and Dharmesh Mistry take a look back over the year in fintech and discuss what 2025 might bring.
The DORA effect: building a strong Digital Operational Resilience Act foundation
Learn how to meet, maintain, and prove compliance with the arrival of DORA.
Stenn Assets UK Limited and Stenn International Limited enter administration
The two units of Stenn Technologies entered administration on 4 December.
DORA and beyond: what do new compliance standards mean for banking and finance?
DORA redefines financial sector resilience, bringing challenges and opportunities for 2025.
Swedish regulator issues Klarna with administrative fine of around $46m
Sweden’s Financial Supervisory Authority says the fine is for “violating the anti-money laundering regulations”.
UK’s FCA hires Colin Payne as new head of innovation
Payne joins the FCA from PwC, where he served as senior director, central banking and fintech product lead.
Unlocking finance transformation: payment trends to watch in 2025
The shift to real-time payments will continue to dominate the payments agenda in 2025.
Preparing for a quantum future: what’s next for quantum computing in financial services?
As we move closer to Q-Day, how can the financial industry prepare for a quantum future?
UK regtech Vixio names Christian Erlandson as new board chair
Erlandson succeeds Gehan Talwatte, who has served as the company’s chair for the last two years.
The UK’s proposed ESG ratings revolution: technology as the catalyst for compliance
With the FCA set to regulate ESG ratings providers in 2025, technology is emerging as a crucial enabler for compliance.
UK specialist mortgage lender Vida Homeloans secures full banking licence, rebrands as Vida Bank
Vida Bank will operate as a specialist mortgage bank offering residential and buy-to-let mortgages.
Lightyear secures direct FCA authorisation, set to relaunch in the UK
Lightyear says it plans to roll out “a number of new products” in the UK, including ISAs.
November 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories from November.
Macquarie Bank fined £13m by UK’s FCA
The FCA has fined MBL for “serious failings that allowed one of its employees to record over 400 fictitious trades”.
Garanti BBVA International taps Worldline for instant payments solution
The cloud-based solution will ensure GBI’s compliance with the EU’s Instant Payments Regulation.
SEC chair Gary Gensler to step down on 20 January
Gensler’s departure date coincides with US President-elect Donald Trump’s inauguration.
CFPB finalises rule to supervise big tech firms offering digital payment apps
The development cements proposals first put forward by the regulator in November last year.
Chile’s Tanner Servicios Financieros lands $40m IFC investment
Tanner Servicios Financieros is establishing “a fully licensed and regulated commercial bank subsidiary”.
Navro secures FMSB registration to provide money transfer services to businesses in Canada
Navro (formerly known as Paytrix) has also secured licences in the UK and Ireland (EU) this year.
Revolut granted UK trading licence from FCA
Revolut now plans to launch new trading products covering UK and EU stocks and ETFs.
Cartoon: Wanderer above the sea of fog
This new cartoon illustrates how regulatory changes and the complexity of compliance stymies new entrant fintechs.
UK government announces reforms to boost financial sector growth
The Chancellor has revealed plans for a Digital Gilt pilot and “decisive action to advance open banking”.
US presidential election: What’s next for US fintech under Trump?
Following the US presidential election, what can the country’s fintech sector expect from Trump’s second term?
Metro Bank fined £16.7m by the FCA for “financial crime failings”
The fine relates to historic deficiencies in the company’s transaction monitoring systems and controls.
Polish fintech Conotoxia eyes EU banking licence, plans to transform into joint-stock company
Conotoxia says it will aim to complete the transformation “as soon as possible”.
Banking Technology Magazine November 2024 issue out now
Cover story: GOING GREEN – Why sustainable finance is vital.
ICYMI fintech funding round-up: Groov, Fundcraft, VibePay, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FTC takes action against US neobank Dave for allegedly “using misleading marketing”
In a statement, Dave says it intends to “vigorously defend ourselves”.
UK regtech Kaizen lands £42m investment from Guidepost Growth Equity
Guidepost’s investment marks Kaizen’s first external funding since its founding in 2013.
FE fundinfo snaps up Matterhorn Reporting Services to boost AIFMD reporting capabilities
The deal is FE fundinfo’s third acquisition this year.
Beyond banking’s four walls: the journey to open finance
A collaborative approach to open finance will foster greater innovation across the board.
CFPB fines VyStar Credit Union $1.5m over “botched rollout” of online banking system
The CFPB claims VyStar’s “botched system switch left families in a lurch, unable to manage finances and facing fees”.
Sibos 2024: Navigating partnerships between banks and fintechs
The relationship between banks and fintechs has been an ever-evolving mix of collaboration and competition.
Demystify Podcast: GITEX Global 2024 special
Hosts Dave and Dharmesh speak with four financial services leaders at this year’s GITEX Global event in Dubai.
October 2024: Top five AI stories of the month
FinTech Futures takes a look back at five of the top AI stories from October.
Dutch paytech Online Payment Platform secures EMI licence in the UK
The company adds that the new licence “now allows OPP to offer a wallet solution” for businesses.
Sibos 2024: Charting a path for digital securities with BNP Paribas – video interview
BNP Paribas’ Gary O’Brien discusses the pursuit of faster settlements in Asia, Europe and North America.
FinTech Futures: Top five news stories of the week – 25 October 2024
Our pick of the top fintech news stories this week includes Afin Bank, Zip, Socure and more.
