21 August 2014

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Wells Fargo has become the latest bank to launch an accelerator programme, promising mentoring and hard cash to selected fintech startups.

Kenyan telco Safaricom is slashing its transaction fees for low value person-to-person payments made using its wildly popular M-Pesa mobile money service.

Credit and financial management service Credit Karma has been ordered to beef up its security after a US watchdog found that its mobile app left users' sensitive personal information vulnerable.

PayPal has taken advantage of technology from its Braintree unit to build a system which lets mobile shoppers make in-app purchases with a single touch.

Square is ramping up its small business financing programme after securing investment from Victory Park Capital.

The UK banking industry has introduced a 'retry' process that will give customers a second chance to avoid bounced payments and their associated charges.

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PricewaterhouseCoopers has been fined $25 million by New York State's financial watchdog after it sanitised a report for regulators into anti-money laundering at Bank of Tokyo-Mitsubishi UFJ (BTMU).

Deutsche Bank has raided Goldman Sachs and Royal Bank of Scotland to bring in two senior technology and operations executives.

Wall Street regulator Finra has charged brokerage Wedbush Securities with systemic market access violations and anti-money laundering and supervisory failures.

A manager at Liberty Reserve, a digital currency outfit described by authorities as the criminal underworld's "bank of choice", has pleaded guilty to money laundering charges.

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