03/01/2023
Thought Machine to expand headcount 20%, mostly in London
A fintech-providing core banking service to some of the UK’s largest and fastest growing banks is planning to increase its 550-person headcount.
Legal,Regulation,Tax & Compliance
03/01/2023
Intesa Sanpaolo signs strategic deal with IBM
Through the agreement with IBM, Intesa Sanpaolo will aim to take full advantage of the opportunities offered by the Red Hat Openshift hybrid multi-cloud platform
02/24/2023
JPMorgan restricts staff use of ChatGPT
ChatGPT, which generates text in response to prompts, became a sensation when it was released into the wild by developer OpenAI late last year.
02/23/2023
ECB to monitor digital transformation efforts at banks
The survey found that almost all European institutions have a digital transformation strategy, typically consuming a fifth of the IT budget, although the degree of maturity differs.
02/23/2023
OpenAI selects Bain & Company for innovative partnership
The news comes as businesses across all industries weigh up how AI technology might boost their operations.
02/23/2023
SEI Extends 10-year Relationship with Veritas Investment Partners
Extension Reflects Strength of SEI’s Proposition for Private Client Investment Managers
02/22/2023
Mastercard and Visa to face another card interchange class action suit
Businesses with an annual pre-Covid turnover of under £100 million will be automatically included in the claim unless they choose to opt out. Firms with a higher turnover are invited to opt in.
02/20/2023
London-based crypto startup Klink Finance gains EU licence
Klink is building a Prize Linked Wallet, that offers cryptocurrency investors the opportunity to store their funds and earn regular rewards on top of their holdings.
02/17/2023
Terraform and CEO Do Kwon charged with fraud by SEC
The firm has been accused of misleading investors that believed they were investing in digital asset securities including an ‘algorithmic stablecoin’ that was meant to retain the value to the US dollar.
02/16/2023
UK provides legal clarity on issuance of digital securities via blockchain
The Taskforce has previously published legal guidelines on the status of cryptoassets and smart contracts
02/16/2023
Clausematch opens Portugal office, grows team to more than 70 people worldwide
The team of nine employees specializes in engineering and product development. Additional employees plan to join the Lisbon team in the coming months.
02/14/2023
Driverly achieves FCA authorisaton for dynamically priced app based insurance
After a detailed review of its customer-centric processes and corporate governance structure, Driverly received direct authorisation to sell car insurance courtesy of the behavioural data collected from its ground-breaking app.
02/14/2023
UAE Central Bank Launches Programme to Accelerate Digital Transformation
These digital payment initiatives aim to drive financial inclusion, promote payment innovation, security and efficiency, as well as achieve a cashless society.
02/14/2023
Ex-Wirecard chief Braun denies charges in fraud trial
Wirecard was a rising blue chip star before its collapse in 2020 following the discovery of a gaping €1.9 billion hole in its balance sheet.
02/14/2023
FCA and police join forces to crack down on crypto ATMs
Crypto businesses operating in the UK need to be registered with the FCA for anti-money laundering purposes.
02/14/2023
UK Government opens BNPL consultation
A recent report by the personal finance experts at NerdWallet revealed that as many as one in six (15%) UK consumer currently in debt owe money to Buy Now, Pay Later providers such as Klarna or Clearpay.
02/13/2023
Understand ransomware payment risks before incidents happen, says expert
Businesses can apply to the OFSI for a licence that enables them to undertake activity that would otherwise constitute a breach of financial sanctions.
02/10/2023
ING Under Fire From Fintech Watchdogs For Open Banking ‘Breach’
ING has described its upgrade as “necessary to build a safe and secure open banking experience for its customers”.
02/10/2023
Treasury proposals would be a huge change for crypto assets
The Treasury indicates in the paper that it intends the UK regulations to cover overseas firms that are providing services to UK-based customers.
02/09/2023
Flutterwave Expands into North Africa After Bagging PSP Licence in Egypt
“This, for us, is the beginning of other strategic wins in the North Africa and Middle East regions.”