In an unsual move for a US fintech startup, mobile-only banking outfit Varo Money is applying for a full national banking licence.
Nasdaq is to acquire Sybenetix, a UK-based startup that applies behavioural analysis and cognitive computing to sniff our suspicious trading activity at asset management firms.
A Tribunal Court judge has blocked a £14 billion class action lawsuit against Mastercard for overcharging customers, agreeing that the claims were not suitable under the current collective actions regime.
The new head of the US Office of the Comptroller of the Currency (OCC) has come out fighting in defence of his predecessor's plans to grant special-purpose bank charters to fintech firms, defying pending litigation from state regulators.
Singapore's OCBC Bank has partnered with two graduates from its startup accelerator programme to apply artificial intelligence technology to counter money laundering.
Former Credit Suisse board member Gaël de Boissard and ex-Deutsche Bank COO Henry Ritchotte have invested in James, a startup using artificial intelligence to tackle credit risk.
US banks are opening themselves up to increased strategic risk by moving into new products and services as a way to take on emerging fintech rivals, warns the Office of the Comptroller of the Currency (OCC) in a report which also highlights the threat of cyber attacks and an increased reliance on third-party tech service providers.
European consumer interest group BEUC has waded into the screen-scraping debate, urging banking authorities to ban the practice in favour of the creation of a harmonised interface for customer data sharing.
The Bank of England says that a distributed ledger technology proof-of-concept with Ripple has reinforced its intention to make a new real-time gross settlement (RTGS) platform compatible with DLT usage in the private sector.
Applicable from 26 June 2017, the EU Funds Transfer Regulation 2015 (FTR 2015) brings with it many unexpected implementation hurdles for payment service providers (PSPs). Christian Westerhaus, head of product & strategy, Institutional Cash Management, Deutsche Bank, explains why there is more to FTR 2015 than meets the eye.
© Finextra Research 2017