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/payments

FCA and PSR set out next steps for open banking in the UK

The next steps for open banking in the UK will include a new independent company to drive forward variable recurring payments.

/payments

HSBC shuts down Wise competitor Zing

HSBC has shut down Zing, the currency conversion app that was intended to provide a viable competitor to money transfer behemoth Wise.

/payments

Sweden's Open Payments raises €3 million

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

Checkout.com sets stage for return to profitability

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.

/payments

Neonomics buys UK open banking platform Ordo

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

European fintech investment increased 10% in 2024 in a sign of increasing confidence for one of the continent’s leading tech sectors.

/wholesale

Ramp launches treasury product

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 firm XTX to build €1bn data centre hub in Finland

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

SEC launches crypto task force, saying it can 'do better'

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.

/people

Starling hires NatWest's Raghu Narula as chief banking officer

Starling Bank is further bolstering its leadership team with the appointment of NatWest executive Raghu Narula as chief banking officer.

/regulation

FCA to remove £100 contactless limit

The UK Financial Conduct Authority is planning to remove the £100 contactless limit and implement an open finance regime tackling SME financing.

/people

Mangrove Capital installs Christopher Horne as CEO at The Bank of London

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.