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/crime

19% consumer and retail fraud increase in England and Wales reports ONS

The Office of National Statistics (ONS) has reported there were approximately 3.6 million consumer and retail fraud incidents in 2024, a 19% rise for the same period in 2023.

/payments

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.

/payments

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.

/Sibos

Sibos: Financial institutions are “nowhere near” 2027 G20 targets

Alan Marquard, executive vice president, applications at Mastercard commented on their current progress towards 2027 goals as reported by FSB in their second annual assessment in a session on G20 targets at Sibos in Beijing: “we're four years in the journey to 2027, and we're nowhere near there. I find that completely unsurprising. The metrics were set up as quantitative metrics, but set at a global level without clarity on who was responsible for achieving them.”

/payments

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.

/people

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.

/ai

Morgan Stanley rolls out AskResearchGPT to institutional securities staff

Morgan Stanley has rolled out a generative AI-powered assistant to support staff in surfacing and distilling insights from its extensive research library.

/payments

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.

/payments

Klarna launces UK BNPL gift card store

Klarna is teaming up with Blackhawk Network to launch the UK's first buy now, pay later gift card store

/ai

Lunar launches GenAI Native Voice Assistant

In a European first, Nordic challenger bank Lunar has launched a virtual assistant using GenAI Native Voice technology.

/payments

Norway's cashless economy drive halted by new cash payment rules

Norway's progress to become one of the world's first cashless economy has hit a roadblock under new rules passed by Parliament that oblige shops to accept cash payments alongside other mobile payment and card options.

/ai

AI patents at BofA increase 94% since 2022

Bank of America's artificial intelligence push has led to a 94% increase in AI and machine learning granted and pending patent applications since 2022.