Fintech

A year in the making, the NPV addresses the findings of the 2023 Future of Payment’s Review, outlining the government’s ambitions for building a payments ecosystem delivered on next generation technology that delivers economic growth. Tulip Siddiq, economic secretary to the Treasury, says: “The National Payments Vision…sets out the government’s ambitions for this vital sector, […]

AI giants such as OpenAI, Google, Anthropic, and others are struggling to build more advanced AI as their current methods reach their limitations, Bloomberg and Reuters reported this week. Companies have been facing delays, challenges an disappointing outcomes in their AI arms race of building advanced LLMs that outperform existing ones, like Chat GPT-4. Partially […]

Reeves outlined her plan to reforming the pension system: Local Government Pension Schemes in England and Wales will become megafunds. This move could boost savings in pension pots as well as unlock £80 billion in new investment for businesses and infrastructure. Reeves continued to say that trillions of pounds will be mobilised into green energy, […]

Some of the largest banks in the UK may have to pay billions of pounds to consumers over contentious lending practices at car dealers. In response to an October judgement by the UK’s Court of Appeal, many British banks are considering halting auto lending entirely. The court ruled it was unlawful for car dealerships to receive […]

As cross-border payments fuel an increasingly globalized economy, concerns about fraud in these transactions have also grown. Although cross-border payments make up just 11% of total card payment transactions, they account for 63% of card-related fraud. This issue is particularly acute in the UK, where losses due to authorized push payment (APP) scams reached £239 million in the […]

The RTP network now averages over 1 million payments per day, positioning the platform for strong momentum going into the holiday season. Between September and October, transaction volume on RTP, which is operated by The Clearing House, increased by 6.2%. On November 1, the instant payments powerhouse reached a new single-day record, processing 1.45 million transactions […]

PayPal has begun rolling out a feature that makes it easier for its customers and their friends and family to pool money for shared expenses. The new Pool Money feature is now rolling out to PayPal customers in the U.S., Germany, Italy and Spain, and is set to launch in the U.K. soon, the company said in a Thursday […]

Santander Bank, N.A. (“Santander” or “the Bank”) announced today that is has expanded its suite of digital cash management solutions to enhance the commercial client experience while reducing its overall cost to serve. With an increased focus on mobile banking and investments in treasury products, the Bank will continue to expand its offerings in 2025. […]

Today’s B2B businesses want digital solutions to deliver efficiency without compromising on security. While that may be a tall order, modern solutions aimed at everything from smarter cash flow tools to fraud-busting artificial intelligence (AI) systems are increasingly delivering it. It’s now a digital-first world, and B2B players are doubling down on automation and analytics […]

Strivr, an enterprise extended reality (XR) platform, has unveiled a turnkey, off-the-shelf immersive learning bundle for retail banking and financial services. Strivr, founded in 2015 and incubated at Stanford University, has launched the Strivr XR Training Bundle for retail banking. The collection of modules, informed by Strivr’s experience with major North American financial institutions, includes pre-built, immersive experiences […]