/payments
The next steps for open banking in the UK will include a new independent company to drive forward variable recurring payments.
23 January 2025
HSBC has shut down Zing, the currency conversion app that was intended to provide a viable competitor to money transfer behemoth Wise.
Swedish B2B open banking platform, Open Payments, has raised €3 million in a funding round led by Alfvén & Didrikson, with participation from Industrifonden and other existing investors.
Payments processor Checkout.com is targeting full-year profitability in 2025 after a strong finish to 2024 that saw 45% year-on-year net revenue growth in its core business.
Norwegian open banking firm Neonomics has acquired UK contemporary Ordo. Financial terms of the deal were not disclosed.
/startups
European fintech investment increased 10% in 2024 in a sign of increasing confidence for one of the continent’s leading tech sectors.
/wholesale
Finance automation and corporate credit card startup Ramp has launched a treasury product that lets clients store cash in a business account and earn interest.
/ai
Algo trading form XTX Markets is investing €1 billion in a large-scale data centre complex in Finland to support its growing use of machine learning.
/regulation
With Donald Trump in power, the new acting chairman of the Securities Exchange Commission has moved to reset the watchdog's approach to digital assets, launching a crypto task force dedicated to developing a regulatory framework for the sector.
22 January 2025
/people
Starling Bank is further bolstering its leadership team with the appointment of NatWest executive Raghu Narula as chief banking officer.
The UK Financial Conduct Authority is planning to remove the £100 contactless limit and implement an open finance regime tackling SME financing.
The Bank of London has appointed its third CEO in as many months, as a new ownership team led by Mangrove Capital Partners takes control.
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