UK Finance, a new mega-trade body representing over 300 firms in the UK, opens for business today, taking on the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and The UK Cards Association.
Enterprise Ireland has created a EUR500,000 fintech development and support fund in a bid to attract up to ten startups from across the world to set up shop in the country.
Los Angeles is looking to jump aboard the multi-billion dollar fintech train through its first professional financial technology conference.
The European Payments Council is to issue a Request for Information (RFI) to identify parties interested in becoming a provider of a Standardised Proxy Lookup (SPL) service for pan-European interoperability of person-to-person mobile payments.
The latest twist in the ongoing row between banks and fintech companies over the future of customer data sharing under the revised Payment Services Directive (PSD2) comes courtesy of the European Banking Authority, which has rejected a proposed amendment to the rules from the European Commission that would have allowed for the continuation of screen scraping.
SBI Remit and Siam Commercial Bank (SCB) have introduced the first commercially-available remittance service powered by Ripple, using the system to send money in JPY to a recipient’s SCB savings account in Thailand and receive funds in seconds.
Danske Bank has released a parent-controlled pocket money app and card for 8-12 year olds.
PayPal has made a strategic investment in LendUp, an online lender targeting Americans that are generally considered too risky by traditional banks. Terms of the deal were not disclosed.
Newly-merged ATM giant Diebold Nixdorf has calmed regulatory concerns by agreeing to sell off its Diebold UK business to local provider Cennox.
French telco Orange has delayed the launch of its mobile-only bank from next week until the end of the summer.
© Finextra Research 2017