Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Fintech founder calls Aussie banks hyprocrites over Apple Pay complaints

The founder of an Australian robo-advisor has accused the country's banks of hypocrisy over their cries of anti-competitive behaviour from Apple Pay

29 July 2016

News/Legal

Ex-Citi worker imprisoned for sabotaging bank's computer system

A former Citi employee who knocked out 90% of the bank's networks across North America after a meeting with his supervisor about his work performance, has been sentenced to nearly two years in prison.

29 July 2016

News/Legal

Deutsche Bank warns of further cuts after fall in profits

A 98% fall in second quarter earnings has led Deutsche Bank to warn investors that it may need to cut more costs

27 July 2016

News/Legal

Aussie banks team up for Apple Pay legal challenge

Four Australian banks are joining forces to negotiate with Apple and be allowed to offer their own payment services on the tech giant's hardware.

27 July 2016

News/Legal

Florida judge rules Bitcoin is not money

A US judge has ruled that bitcoin is not money, dismissing money-laundering charges against a man accused of selling the virtual currency to undercover detectives.

26 July 2016

Company update/Legal

Artemis selects behavioural analytics software for compliance from Sybenetix

Leading UK-based fund manager Artemis has agreed a multi-year deal for Sybenetix’s end-to-end market abuse surveillance, case management and conduct management system.

21 July 2016

News/Legal

Arrests made in Taiwan ATM swindle

Police in Taiwan have arrested three of the 16 men allegedly responsible for stealing more than $2.5m from ATMs earlier this month.

18 July 2016

News/Legal

Lloyds Bank launches mentoring service for fintechs

Lloyds Banking Group has become the latest UK high street bank to launch a mentoring service for fintech startups.

18 July 2016

News/Legal

Credit card fraud ring bust sees 105 arrests

Cops in Europe and Malaysia have arrested 105 people accused of participation in a massive organised criminal enterprise that made counterfeit credit cards that were used to buy high-value goods worth millions of euros.

08 July 2016

News/Legal

MasterCard faces £19 billion UK interchange suit

MasterCard is facing a £19 billion lawsuit - claimed to be the biggest in UK legal history - over allegations that it imposed "illegal" card fees that were ultimately borne by UK consumers.

06 July 2016

Company update/Legal

EU instigates new rules to fight insider dealing and market manipulation

A revamped EU legal framework, applicable as of 3 July, will ensure even more efficient, transparent and trustworthy European financial markets.

04 July 2016

News/Legal

Merchants score victory over Visa and MasterCard as court tosses $7.25bn interchange settlement

In a win for merchants, a US federal appeals court has killed off a $7.25 billion class action settlement over interchange fees between millions of retailers and Visa and MasterCard.

30 June 2016

News/Legal

Visa sues Walmart over Chip and PIN policy

The strained relationship between Visa and Walmart is reaching breaking point as the card scheme files a lawsuit against the supermarket chain for allegedly reneging on an agreement to allow the use of signature verification alongside Chip and PIN for transactions at the till.

30 June 2016

Company update/Legal

Europol hails money mule crackdown

From 22 to 26 February 2016, law enforcement agencies and judicial bodies from Belgium, Denmark, Greece, the Netherlands, the UK, Romania, Spain and Portugal – with further support from Moldova and other countries – joined forces in the first coordinated European action against money muling.

29 June 2016

News/Legal

US supermarket chain Kroger sues Visa over PIN transactions

US supermarket chain Kroger has filed a lawsuit against Visa over a disagreement about using PINs to verify EMV debit card transactions, according to the Wall Street Journal.

27 June 2016

News/Legal

TD Bank faces Canadian coin counting machine class action suit

TD Bank is facing a class action lawsuit seeking $25 million on behalf of customers who used its coin counting machines, which were recently retired over concerns that they were short-changing users.

23 June 2016

News/Legal

Defendants in JPM hacking case plead not guilty

Two Israeli men accused of orchestrating a series of hacks on the computers of several US financial institutions as part of an elaborate stock manipulation scheme have pleaded 'not guilty' as they face trial in a Manhattan court

10 June 2016

News/Legal

BBA backs merger plan

The British Bankers Association (BBA) has backed a plan to merge four of the UK's financial services lobby groups into one industry body.

10 June 2016

News/Legal

EUR4.9bn SocGen rogue trader wins unfair dismissal case

Jerome Kerviel, the rogue trader who was jailed in 2010 after racking up EUR4.9 billion in losses for his employer Societe Generale, has won a wrongful dismissal case against the French bank, which has been ordered to pay him EUR450,000 in compensation.

07 June 2016

News/Legal

London law firm sets up fintech fund to provide free legal advice to startups

A London law firm is to set aside £100,000 per annum to provide free legal advice to fintech startups.

27 May 2016