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Latest Results from /retail

/retail

Central 1 to wind down digital banking business

Central 1 Credit Union is to wind down its digital banking business and transition clients to one or more alternative digital banking providers.

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FCA fines Wise CEO Käärmann £350,000 for breach of senior manager conduct

Wise CEO Kristo Käärmann has been slapped with a £350,000 fine by the FCA for a breach of senior manager conduct relating to his failure to immediately report a default on his tax bill.

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Bank of England presses on with retail CBDC to plug bank innovation gap

The Governor of the Bank of England, Andrew Bailey has re-affirmed his support for a retail central bank digital currency, arguing that central banks are the "only game in town" as commercial banks lack the incentive to push for innovation.

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Visa teams up with USAID for financial inclusion push

Visa is joining forces with the United States Agency for International Development (USAID) to improve access to digital government and payment systems across the world.

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Fintech investment sector remains muted

Venture capital investment in US fintech remains muted, hovering near a six-year low for the sector, as deal flow has shifted toward the early stage, according to a report from Silicon Valley Bank.

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Banking and credit financial complaints skyrocket in 2024 FOS reports

The Financial Ombudsman Service (FOS) has reported that they received 40% more complaints in the first half of 2024 than in the same period in 2023.

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AFP: Truist Bank exec says speed and simplicity is how to delight customers

Finextra sat down with Chris Ward, EVP enterprise payments for Truist Bank, to talk about what he sees coming in the future of payments.

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Western Union to buy Singapore mobile wallet Dash

Western Union has struck a deal to buy mobile wallet Dash from Singaporean telco Singtel. Financial terms were not disclosed.

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Mastercard expands platform to help fintechs launch card programmes

After a launch in Latin America earlier this year, Mastercard has brought its Product Express platform to a host of new markets, enabling fintechs to roll out a card programme in a matter of days.

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Payments infrastructure firm Finix raises $75m

Full-stack payment processor Finix has raised $75 million in Series C funding round led by by Acrew Capital and joined by Citi Ventures.

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Temenos hires Barb Morgan from LSEG as chief product and technology officer

Temenos has hired Barb Morgan, formerly of LSEG and FIS, as chief product and technology officer.

/retail

Sweden and Denmark to initiate real-time cross currency settlement via Target Instant Payments

The European Central bank is implementing a cross-currency settlement service on the Eurosystem's Target Instant Payment Settlement (Tips) service.