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/crypto

Visa and dtcpay team on crypto-to-fiat card

Singapore's dtcpay is teaming up with Visa on a card that enables ultra high net worth individuals to convert their digital currencies such as stablecoins into fiat at real-time rates.

/retail

Deutsche Bank to close branches in favour of video advice

Deutsche Bank is to shutter a “mid-double-digit number” of branches while investing in telephone and video channels for providing personal advisory services to customers.

/people

Former TSB boss Pester becomes chair of wealthtech startup Firenze

Former TSB and Virgin Money boss Paul Pester has taken on the role of chair at Firenze, a Manchester-based embedded finance startup that helps wealth managers offers customers loans secured against their investment pots.

/security

Starling warns of rise in voice cloning scams

Voice cloning scams – where fraudsters use AI technology to replicate the voice of a friend or family member – could be set to catch millions out, according to new research from Starling Bank.

/payments

Card rewards startup Yonder raises £23.4 million

Rewards credit card startup Yonder has raised £23.4 million in new funding at a post-money valuation in excess of £100 million.

/markets

NeoXam to acquire EZOPS

French software house NeoXam has announced plans to acquire EZOPS, a provider of AI-enabled data control, workflow automation, reconciliation, and regulatory reporting technology.

/security

HSBC pilots quantum-safe technology for digital gold

HSBC has successfully trialled the first application of quantum-secure technology for buying and selling tokenised physical gold.

/crypto

Australia gives priority to wholesale CBDC over retail

The Reserve Bank of Australia is to prioritise the issuance of a wholesale central bank digital currency over a retail CBDC, arguing that a clear business case for the latter has yet to emerge.

/payments

Contactless takes the lead for Canadian in-store payments

The number of contactless payments in Canada increased by 17% in 2023 to reach 63% of all in-store transactions.

/security

Banks in Singapore add facial verification to security toolkit

Banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months to strengthen the digital token (DT) setup process for retail banking customers.

/people

Indian lending app mPokket to hire 5000 new staff

Indian digital lending app mPokket is to hire 5000 new staff in the coming year, more than tripling its current workforce.

/regulation

FDIC plans to strengthen custodial deposit rules following Synapse collapse

In the wake of the collapse of fintech Synapse, a US regulator has outlined plans to strengthen recordkeeping requirements for bank deposits received from third party companies on behalf of their customers.