UK Banks are ‘Inherently Misaligned’ With Customer Needs as Saving Interest Rates Remain Stagnant
Recent interest rate hikes by the Bank of England mean that it now stands at 5.25 per cent. While mortgage and loan interest rates have risen accordingly, costing UK residents more money, most UK banks have been slow to up their savings account rates to the same degree (if at all). Smart money app Plum […]
Dubai Ready to Capitalise on Projected 17.2% Global Growth of Fintech Investment, Says DIFC
Investment in fintech is projected to grow by 17.2 per cent CAGR to $949billion from 2022 to 2030 and is accelerating the pace of fintech innovation globally. The projections come from a report issued by the Dubai International Financial Centre (DIFC), the financial centre in the Middle East, Africa, and South Asia (MEASA) region, titled […]
Alipay+ Integrates 7 New Payment Methods: Improves Cross-Border Payments for Chinese Consumers
Ant Group has integrated seven e-wallet and payment apps across five different countries into its ‘Alipay+-in-China’ program. The new additions bring the total number of overseas e-wallets accepted in the Chinese mainland to 10. Alipay+ enables payment partners to connect global and local merchants to cross-border digital consumers. The new additions to the programme include: […]
HKMA Ban of Crypto Firms Using Banking Terminology Sets Crypto Transparency Precedent
In early September, the Financial Conduct Authority (FCA) announced its new crypto marketing rules to improve consumer safety when investing in digital assets. In a similar vein, the Hong Kong Monetary Authority (HKMA) has now warned crypto firms against using banking terminology to protect consumers and improve transparency. The HKMA has identified that some crypto […]
‘Announced at Sibos 2023’: Roundup of Day Two in Toronto
More than 8,000 financial industry thought leaders, decision-makers and experts have gathered in Toronto for Sibos 2023 to address critical issues challenging the global financial ecosystem. The Sibos community highlights the latest trends, innovations and challenges in the global financial industry. Today we bring you a roundup of updates announced on day two of Sibos […]
E-commerce Growth Surges Across Latin America, With Further 25% Growth by 2027; Predicts PayU
PayU GPO, the online payment service provider, has released its LatAm E-Commerce Report 2023, exploring e-commerce across Latin America; revealing a 3.1 times increase of the overall number of transactions in the region between 2019 and 2012 – rising from $117million to $364million. Having already seen significant growth in the region, PayU GPO predicts further growth […]
Financial Firms Lose $85.6million Each Year To Malicious Automation Reveals Netacea
Automation and bots have the potential to positively revolutionise the fintech market if used correctly. However, research from Netacea has shown that if abused, malicious bots can go for months undetected, costing companies $85.6million a year. This is the same as roughly fifty average ransomware payouts. Netacea, the bote detection and response specialist has published […]
UK Fintech News Roundup: The Latest Stories 20/09
Every Wednesday, we delve into the latest fintech updates from across the UK. This week brings updates from HSBC, Vestd, Shepherds Friendly and Wiley Edge. HSBC begins accepting international credit history HSBC UK has partnered with cross-border credit bureau Nova Credit to become the first UK bank to offer newcomers the option to include international […]
Open Banking Introduced to Saxo Bank Investment Customers Following Mastercard Partnership
Previously, in order for Saxo Bank, the investment bank, consumers to transfer money to their investment accounts they would have to log in to a separate account and do it manually. Now partnering with Mastercard, the Danish investment bank no longer has to do this as open banking payments are implemented into the platform. Currently, […]
Roundtable Concurs: Financial Education is an ‘Essential Life Skill’ and Should be Taught in Schools
Generally, the consensus regarding financial education for children and teens is straightforward: it significantly benefits the younger generations. Despite this, teaching young people about personal finances has failed to become part of the UK curriculum. To judge the importance of addressing this, a roundtable discussion at Parliament in Wales hosted by GoHenry, the prepaid debit […]
