Germany's KfW Bank says a system error led to the unintentional transfer of $5.4 billion to four counterparty banks in an automated cycle of repeat transactions.
Billon, a Polish e-money transfer startup backed up distributed ledger technology, is set to enter the UK market having completed a successful trial of a corporate payout system with consumer research firm Conduct Research.
A team of heavyweight financial services industry execs, led by Bank of America and capital One veteran Rob Habgood, are launching a consumer credit card business.
Nordic payments processor Nets is enlisting the help of distributed ledger technology specialist Chainalysis to help it ensure virtual currency transactions comply with anti-money laundering rules.
Samsung is bidding to expand NFC payments beyond phones to a host of wearable devices by teaming up with POS manufacturer Ingenico and app developer Smartlink to launch the Contactless Companion Platform (CCP).
Personal finance app Clarity Money has raised a further $11 million in venture capital financing in a Series B round led by RRE Ventures and Citi Ventures.
Revolut is taking a leaf out of Amazon's playbook, launching a Prime-like subscription account that gives members cheaper deals and the opportunity to participate in a forthcoming crowdfunding raise.
Shares in Gemalto have taken a tumble after the French firm revised revenue forecasts sharply downwards due to a sluggish take-up of EMV cards in the US.
Welcome to Finextra's live coverage of the Swift Business Forum in Toronto. This year’s conference, on the theme 'building the future', will investigate how the financial industry is adapting in a fast-changing, digital world where new fintech entrants pose an opportunity and a threat, and cyber-crime is a growing problem.
Standard Chartered has partnered with China's Ant Financial to enable online and mobile top-ups to AliPay users in Hong Kong.
© Finextra Research 2017