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Latest Results from /regulation

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Wise to build Hyderabad hub

UK-based fintechs Wise and Revolut are both doubling down in India, with the former building a hub in Hyderabad that will employ hundreds of new and the latter securing a license to issue prepaid cards and wallets in the country.

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BofE eyes AI's risk to financial stability

As firms integrate more advanced AI-based analysis into their core trading and investment activities, regulators need to vigilant about potential financial stability risks, the Bank of England's Financial Policy Committee warns.

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FCA to make it easier for startups and innovative products to get to market

The Financial Conduct Authority has unveiled plans to make it easier for firms to test innovative products and to support new firms applying for regulatory approval as part of its work programme for 2025-2026.

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Revolut fined €3.5 million by Lithuanian central bank for AML failings

Revolut has been fined €3.5 million by the central bank of Lithuania for deficiencies in its anti-money laundering controls.

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Earned wage access fintech DailyPay sues NY AG: Rain raises $75 million

DailyPay has sued New York Attorney General Letitia James over efforts to apply usury laws to the earned wage access sector.

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OCC reports 'major incident ' email hack to Congress

The Office of the Comptroller of the Currency says "highly sensitive information" was accessed in a hack on its email system.

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Hawk raises $56m for AI-powered fraud prevention

AI-powered anti-money laundering, screening and fraud prevention outfit Hawk has raised $56 million in a Series C funding round led by One Peak.

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Luxembourg banks pick LuxHub as VoP provider

Open banking startup LuxHub has signed up six major banks in Luxembourg to its Verification of Payee (VoP) and Routing and Verification Mechanism (RVM) technology.

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Compliance challenges and technology gaps amid US regulatory uncertainty, Finextra survey reveals

The latest survey report by Finextra, which included responses from 200 financial services professionals across the US, highlights both optimism and uncertainty surrounding the sector’s regulatory readiness. Conducted between January 16–29, 2025, the survey captured insights from C-level executives to senior managers working in banks, credit unions, payment service providers, technology providers, and fintech firms with revenues ranging from under $10 billion to over $250 billion. These findings come at a pivotal time following the election of Donald Trump and the delay in new regulatory rulemaking, creating a climate of heightened uncertainty for the US financial sector.

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Meet the minds shaping the future of payments at NextGen Nordics

The rapidly evolving world of payments is being shaped by some of the brightest minds across industries, and this year’s NextGen Nordics event on 29 April 2025 at the Münchenbryggeriet in Stockholm, Sweden is set to be a pivotal moment in exploring how the sector is advancing. Attendees will have the rare opportunity to engage with leading figures driving innovation, digital transformation, and the future of financial services in the Nordic region.

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PSR accused of "failure of vision" over light-touch remedies on card scheme fees

The Payment Systems Regulator has set out a series of remedial measures to address the scheme and processing fees imposed on merchant by Visa and Mastercard.

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Trade bodies write to No 10 calling for UK blockchain and crypto push

A collection of UK and global trade bodies has written to the prime minister's office calling on the government to capture what they claim will be the economic and societal benefits of a new wave of digital asset and blockchain technology.