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/markets

Klarna pauses IPO plans as Trump tariffs cause market turmoil

Klarna has paused plans for its initial public offering amid market turbulence sparked by President Donald Trump's tariffs.

/predictions

M&T Bank and Mass Fintech Hub: Competition and collaboration now a synonymous positive

As the industry has evolved rapidly, it has created a unique blend of challenges for both traditional banks and fintech firms that make a symbiotic relationship between the two more critically important. Looking at the history of this evolution and towards the future, there is a growing realisation that a fierce rivalry is long gone and, in its place, partnership and friendly competition.

/retail

DoJ antitrust officials clear Capital One and Discover merger

The US Department of Justice has cleared the $35 billion merger between Capital One Finance Group and Discover Financial Services.

/regulation

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.

/payments

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.

/ai

SMBC and Fujitsu partner on AI-powered data analytics business

Sumitomo Mitsui Banking Corporation is teaming up with Fujitsu to explore the creation of a data analytics business they say could empower customers with better decision-making and operational efficiency.

/markets

Global spending on financial market data hits $44.3bn

Global spending on financial market data and news grew modestly in 2024, with revenues rising 6.4% - far slower than the previous year - to $44.3 billion.

/security

Visa unveils AI fraud fighting tool

Visa has unveiled Aric Risk Hub, an AI-based fraud prevention platform designed to help protect banks, acquirers, and financial institutions against a broad spectrum of fraud and financial crime.

/startups

Fuse raises $6.6m to power cross-border payments in Mena

Truelayer and BVNK veterans have raised $6.6 million for their startup building the infrastructure to power real-time cross-border payments in the Middle East and North Africa.

/retail

Plaid raises $575m at $6.1bn valuation

Plaid has raised $575 million in a secondary share sale that sees the open banking platform's valuation drop from $13.4 billion in 2021 to $6.1 billion.

/regulation

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.

/startups

African neobank Djamo raises $17 million

Djamo, a neobanking startup serving the underbanked market in Francophone West Africa, has raised $17 million.