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PSR sets out next steps for variable recurring payments in the UK

/payments

PSR sets out next steps for variable recurring payments in the UK

The UK's Payment Systems Regulator says it will assess the necessity and scope of mandated participation in Phase 1 expansion of Variable Recurring Payments (VRPs) following stakeholder feedback.

Stablecoin-to-fiat money transfer app Sling Money raises $15m

/startups

Stablecoin-to-fiat money transfer app Sling Money raises $15m

Sling Money, which combines stablecoin technology with fiat payment rails for instant money transfers, has raised $15 million in Series A funding.

Communify acquires Fincentric from S&P Global

/markets

Communify acquires Fincentric from S&P Global

Wealthtech entrepreneur John Wise and PE firm Stellex Capital Management have acquired S&P Global’s Fincentric business with a view to providing digital experiences and financial data distribution to the wealth, broking and asset management industries.

Klarna takes on banks with new 'account' for storing funds

/payments

Klarna takes on banks with new 'account' for storing funds

Klarna is rolling out an "account" where customers can store money and cashback rewards as the Swedish fintech continues to diversify beyond its BNPL roots into more traditional retail banking services.

UK challenger banks beat incumbents all-hands down in CMA awards

/retail

UK challenger banks beat incumbents all-hands down in CMA awards

UK challenger banks once again outshone incumbents in the latest annual banking satisfaction survey conducted by the Competition and Markets Authority.

Science Card opens e-money account for socially-conscious spending

/sustainable

Science Card opens e-money account for socially-conscious spending

UK fintech Science Card has opened an e-money account to further its goal of supporting scientific projects across health, climate change and tech through customer spending.

UAE-based fintech Yuze rises $30m

/startups

UAE-based fintech Yuze rises $30m

Yuze, a UAE-based, SME-focussed fintech, has raised $30 million from Osten Investments to expand into new markets.

Keir Starmer and Prince William used in deepfake crypto scam

/ai

Keir Starmer and Prince William used in deepfake crypto scam

Crooks are circulating AI-generated deepfake videos of Prince William and UK prime minister Keir Starmer on Facebook and Instagram to dupe viewers into scam cryptocurrency investments.

ANZ creates 'AI Immersion Centre' for executive class

/ai

ANZ creates 'AI Immersion Centre' for executive class

ANZ has partnered with Microsoft to launch an 'AI Immersion Centre' for the bank's leadership team at its Melbourne headquarter offices.

MAS collaborates with banks and tech firms on quantum security

/security

MAS collaborates with banks and tech firms on quantum security

The Monetary Authority of Singapore has gathered a consortium of banks and technology partners to study the application of Quantum Key Distribution (QKD) as a defensive mechanisim against the threat posed by super-fast computing power.

CFPB and American Fintech Council stake out AI positions to Treasury

/ai

CFPB and American Fintech Council stake out AI positions to Treasury

Responding to a call from the US Treasury, the Consumer Financial Protection Bureau (CFPB) and the American Fintech Council (AFC) have both weighed in on the use of AI in financial services.

Apple to open up NFC payments access to third parties

/payments

Apple to open up NFC payments access to third parties

Apple is opening up the NFC chip technology that enables iPhone users to make contactless payments to third-party providers in a host of countries - including the US and UK - but will charge associated fees.

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