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Savings and mortgage platform Tembo raises £14m

/startups

Savings and mortgage platform Tembo raises £14m

London-based digital savings and mortgage platform Tembo has raised £14 million in a Series B funding round led by Goodwater Capital.

MUFG to buy robo-advisor for $664m

/wealth

MUFG to buy robo-advisor for $664m

Mitsubishi UFJ Financial Group (MUFG) says it will pay $664 million to take 100% ownership of robo-advisor WealthNavi.

Norway joins Eurosystem’s instant payment service

/payments

Norway joins Eurosystem’s instant payment service

Norway has struck a deal to add the krone to the Eurosystem’s Target Instant Payment Settlement (Tips) service.

Wise entered European remediation plan over AML controls - FT

/regulation

Wise entered European remediation plan over AML controls - FT

Money transfer giant Wise was ordered by European regulators to put in place a formal remediation plan over issues with its anti-money laundering controls, according to the Financial Times.

Digital ID wallets bolstered as EU commission adopts technical standards

/regulation

Digital ID wallets bolstered as EU commission adopts technical standards

The European Commission has adopted rules for the core functionalities and certification of the European Digital Identity Wallets as 2026 deadline nears.

Co-operative Bank taken over by Coventry Building Society

/regulation

Co-operative Bank taken over by Coventry Building Society

Coventry Building Society’s £780 million takeover of the Co-operative Bank has been given regulatory approval.

‘Every company will become a climate company’ – Lune, EBAday 2024 Fintech Zone winner

/startups

‘Every company will become a climate company’ – Lune, EBAday 2024 Fintech Zone winner

Earlier this year, Finextra announced Lune, a climate-positive company providing API and software tools, had won the FinTech Zone award at EBAday 2024. The award is presented to companies that have shown true innovation and an ability to deliver a capable solution to a current issue in finance and banking. A few months on from this year's event, Lune is still making strides towards a better, more streamlined climate process for its clients.

John Lewis unveils pocket money pet for young kids

/retail

John Lewis unveils pocket money pet for young kids

With Christmas fast approaching, UK department store John Lewis has unveiled Nestlums, a Tamagotchi-style pet that helps young children learn about money.

Synapse fallout: partner banks face lawsuit

/retail

Synapse fallout: partner banks face lawsuit

The fallout from the collapse of Synapse continues, with several partner banks facing a lawsuit alleging mishandling of customer funds, and one of those banks insisting that end user funds it once held were moved by the BaaS platform before it went bankrupt.

SumUp in 'no hurry' for IPO after surpassing one billion transactions per annum

/payments

SumUp in 'no hurry' for IPO after surpassing one billion transactions per annum

UK payments group SumUp says it is no hurry to go public as it surpasses one billion transactions per year.

Former Revolut duo launch banking on blockchain startup

/startups

Former Revolut duo launch banking on blockchain startup

Two ex-Revolut employees have raised $2.3 million in pre-Seed funding to build Bleap, a self-custodial stablecoin app with an accompanying debit card.

CBA chops fraud with AI

/ai

CBA chops fraud with AI

Australia's Commonwealth Bank says early implementation of GenAI is helping it to substantially reduce fraud rates.

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