Banking

Porters Raises $27M to Strengthen AI-Driven Backoffice Solutions

Startup aims to enhance efficiency in financial services with new funding.Highlights: Porters raises $27 million in funding to improve AI-driven backoffice solutions.The funding round aims to boost operational efficiency...

Westpac Strengthens Workforce Efficiency with Microsoft Copilot

The bank launches AI-driven tool to enhance productivity for employees worldwide.Highlights: Westpac introduces Microsoft Copilot to its global...

Barclays US Consumer Bank Strengthens Operations with Call Centre GenAI

Improvements in efficiency noted through AI-driven customer service solutions.Highlights: Barclays US Consumer Bank reports substantial gains from GenAI...

FCA Sues Crypto Exchange HTX Over Illegal Promotions

Regulatory action targets HTX for unauthorized promotional activities.Highlights: FCA files lawsuit against HTX for illegal promotions.HTX accused of...

Betterment Data Breach Exposes 1.4 Million Accounts

Customers urged to monitor accounts following the breach incident.Highlights: Betterment reports a data breach affecting 1.4 million customer...
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Stax Payments appoints Paulette Rowe as new CEO

US fintech Stax Payments appoints Paulette Rowe as CEO, a seasoned executive with a prominent background in the financial sector. FactsPaulette Rowe becomes the...

Novo secures $125m credit facility to provide working capital to small businesses through Novo Funding

Miami-based financial platform Novo is launching Novo Funding, aiming to provide up to $75,000 of working capital to small businesses, offering various benefits and...

Clearstream migrates regulatory reporting to Regnology’s Rcloud platform

Clearstream Banking AG, a post-trade business of Deutsche Börse Group based in Luxembourg, is shifting from on-premise to cloud-based regulatory reporting by adopting Regnology's...

Allfunds acquires local paying agent business of Iccrea Banca

Allfunds Group, a London-based B2B wealthtech platform, is set to acquire the local paying agent business of Iccrea Banca through an agreement with Italy's...

The FCA’s Consumer Duty clamps down on unfair savings rates

The Financial Conduct Authority (FCA) is taking action against banks and building societies for offering disproportionate interest rate rises to savers. The FCA's 14-point...

Upgrade snaps up BNPL vendor Uplift for $100m

US fintech Upgrade is set to acquire buy now, pay later (BNPL) vendor Uplift for $100 million in a mix of stocks and cash,...

ING names Görkem Köseoğlu as new chief technology officer

Görkem Köseoğlu is appointed as Chief Technology Officer (CTO) and member of the Management Board Banking at Dutch banking corporation ING, succeeding the former...

Mercury Financial secures $200m debt facility to expand credit card business

US fintech Mercury Financial has secured a $200 million debt facility from Neuberger Berman to expand its credit card business and serve the middle...

German fintech start-up Monite bolsters leadership team with new hires

Berlin-based embedded finance start-up Monite has hired three new executives for its leadership team to drive growth and expand its presence in the EU,...
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