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/retail

TabaPay ditches plan to buy assets of bankrupt BaaS firm Synapse

Money moving fintech TabaPay has pulled out of a deal to buy the assets of bankrupt Banking-as-a-Service platform Synapse.

/retail

BBVA runs successful trial of distributed quantum simulation in the cloud

BBVA has completed a successful trial of the execution of quantum algorithms across multiple conventional servers in the AWS cloud.

/startups

'Neobank in a box' startup Fintech Farm raises $32 million

Fintech Farm, a London-based startup that helps banks in emerging markets to launch all-digital neobanks, has raised $32 million in funding.

/retail

Raisin moves into net profit

German savings and investment products marketplace Raisin has almost doubled revenues for 2023 and moved into net profitability for the first time.

/crypto

US Elections: Stand With Crypto forms committee to support pro-crypto candidates

Nonprofit pro-cryptocurrency group Stand With Crypto has formed a political action committee (PAC) to support candidates who are encouraging of cryptocurrency and blockchain developments in the upcoming US elections.

/sustainable

US banks to struggle with climate risk data – Federal Reserve

According to a climate scenario analysis by the Federal Reserve, American banks are set to experience challenges in predicting the impact of climate change on their loan books due data and modelling difficulties.

/wholesale

BBVA charges forward with hostile bid for Banco Sabadell

Spanish incumbent bank BBVA launched a hostile takeover bid on Thursday to buy out rival Banco Sabadell.

/regulation

Pensions dashboards programme delayed due to digital skills shortage

According to a recently released report from the National Audit Office (NAO), the UK government’s Pensions Dashboards Programme (PDP) has been delayed due to a lack of digitally skills and incapacity.

/regulation

Canada fines Binance C$6m for AML violations

Cryptocurrency exchange Binance has been fined C$6 million by Canadian authorities for violating money laundering and terrorist financing laws.

/payments

Mastercard starts domestic payments processing in China

US card giant Mastercard, through a joint venture, has finally begun processing domestic payments in China.

/security

Global mobile banking malware surges 32%

Global mobile banking trojan attacks on Android users grew by a third in 2023, while cryptocurrency-related phishing also saw a sharp increase, according to a Kaspersky report.

/payments

EBAday 2024: Confirmation of Payee’s impact on instant payments and fraud in Europe

Confirmation of Payee (COP) has a key role in the instant payments infrastructure as a service that verifies account names prior to making a payment, the scheme ensures that funds are being transferred to the correct account.