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Wirecard executives landed with €140 million damages bill in civil suit

/people

Wirecard executives landed with €140 million damages bill in civil suit

Three former Wirecard executives, including CEO Markus Braun, have been order to pay €140 million plus interest to the former administrator of the bankrupt payments group.

Siemens issues €300 million digital bond on blockchain

/markets

Siemens issues €300 million digital bond on blockchain

Siemens has issued its second digital bond on blockchain rails in support of European Central Bank and Deutsche Bundesbank digital ledger trials.

Quilter acquires digital investing app NuWealth

/wealth

Quilter acquires digital investing app NuWealth

Blue-blooded wealth management house Quilter has acquired fintech firm NuWealth to boost its advisory service for novice investors.

Ant Group launches AI-powered 'life assistant' app

/ai

Ant Group launches AI-powered 'life assistant' app

Ant Group has launched a new 'life assistant' app, Zhixiaobao, connecting users to a multitude of AI-agents trained for shopping, fitness and language learning.

Visa to launch new model for A2A payments in the UK

/payments

Visa to launch new model for A2A payments in the UK

Visa is promising to launch a smart upgrade to the current pay-by-bank model with the launch in the UK of Visa A2A, a rules-based system for bill payments and subscription management in early 2025.

BIS field study show AI use can boost productivity among programmers

/ai

BIS field study show AI use can boost productivity among programmers

A Bank for International Settlements' field study on AI use by Ant Group programmers demontrated a clear boost in the number of lines of code produced by staff exposed to the Large Language Model.

Citi reports growing convergence of traditional and digital assets

/crypto

Citi reports growing convergence of traditional and digital assets

The move to shorter settlement cycles and increasing regulatory clarity is leading to an accelerating convergence between traditional and digital assets, reports Citi.

Nationwide prepares for surging digital volumes with Red Hat OpenShift deployment

/devops

Nationwide prepares for surging digital volumes with Red Hat OpenShift deployment

Nationwide Building Society has built a new Business Integration Platform utilising Red Hat OpenShift to achieve service availability of 99.999% and faster deployment of upgrades and launches.

Revolut doubles down on B2B market opportunity

/wholesale

Revolut doubles down on B2B market opportunity

Revolut's head of business says the fintech is 'agressively doubling down" on the B2B market as annual revenues at the unit surpass $500 million.

PSR to cut APP reimbursement limit to £85,000

/security

PSR to cut APP reimbursement limit to £85,000

In the face of growing government and industry pressure, the UK's Payment Systems Regulator is set to bow to demands to reduce the reimbursement limit offered by banks to victims of authorised push payment fraud from £415,000 to just £85,000.

Mastercard and Visa to face multi-billion pound lawsuit over interchange fees on UK businesses

/payments

Mastercard and Visa to face multi-billion pound lawsuit over interchange fees on UK businesses

The UK's Competition Appeals Tribunal has given the go-ahead for a $4 billion class action lawsuit brought by UK businesses over Mastercard and Visa multilateral interchange fees.

Morgan Stanley invests in 3forge

/devops

Morgan Stanley invests in 3forge

Morgan Stanley has made a strategic investment in 3Forge, a provider of code platforms for building mission-critical applications in financial services.

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