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Financial services provider UK Finance has announced its plans to work on an additional UK Regulated Liability Network (RLN) experimentation phase with eleven of its members.
digital payments, online banking, digital banking, fraud management, fraud prevention, tokenization
PayPoint has announced its inclusion as a supplier on the Crown Commercial Service’s (CCS) Open Banking Dynamic Purchasing System (DPS) framework.
payments , Open Banking, fintech, expansion
The Paypers looked into the most relevant partnerships announced during Q4 2023 within the banking and fintech space, discovering preferences that went from Open Banking technologies and their applications in ecommerce, card payment innovations, as well as an overall focus on financial crime, fraud prevention, crypto, Web3, and CBDC developments.
partnership, Open Banking, banking, fintech, fraud management, cryptocurrency, crypto, The Paypers Quarterly Analysis series
UK-based Lloyds Bank has entered a partnership with British payments company PayPoint Group to become its main card acquiring partner.
partnership, credit card, debit card, banking, financial services
UK-based Nationwide Building Society has reached a preliminary agreement to acquire Virgin Money for GBP 2.9 billion.
acquisition, merger, financial services, banks
UK-based Lloyds Banking Group has joined the Open Property Data Association to speed up home buying and selling through a standardised approach.
lending, financial data, financial services, data sharing
Amit Mallick, Global Open Finance Lead at Accenture, explores the essential factors and strategies vital for the success of Open Finance initiatives.
Open Banking, Open Finance, banks, fintech, report
The Centre for Finance, Innovation, and Technology (CFIT) has published a report detailing the benefits that Open Finance can deliver for UK consumers and businesses.
Open Finance, Open Banking, data sharing, financial inclusion, financing , lending
The Financial Market Authority (FMA) has initiated an investigation into Raiffeisen Bank International (RBI) over Anti-Money Laundering (AML) failures in Austria.
money laundering, AML, regulation, payment fraud, banking, KYC
The Financial Conduct Authority (FCA) of the UK has initiated an investigation into Lloyds Banking Group’s Anti-Money Laundering (AML) controls.
AML, money laundering, regulation, banking, financial institutions
report, romantic scam, fraud prevention, money scam, payment fraud
The Financial Times has obtained documents that showcase Iran’s efforts to evade sanctions by using accounts at two of the UK’s largest banks.
banks, financial sanctions, regulation, compliance
Germany-based financial institution Deutsche Bank has announced its decision to cut 3,500 jobs as part of its overall strategy to optimise efficiency and save costs.
banking, online banking, mobile banking, digital banking, financial services, financial institutions
VOXI by Vodafone has expanded its collaboration with Moneyhub to provide customers with 12 months of free access to its financial wellness app.
mobile banking, financial services, personal finance management, financial inclusion, partnership
UK-based digital identity company Yoti has announced that it received GBP 12.5 million in debt funding from HSBC and GBP 7.5 million from existing shareholders.
funding, investment, identity verification, digital identity, fraud prevention
Emirates Islamic has announced the launch of its online fund transfer service QuickRemit for customers and clients in the region of the UK.
product launch, expansion, mobile payments, online payments, digital payments, money transfer, ecommerce
Scottish Widows has partnered with Moneyhub to introduce Open Finance features to its app, allowing customers to view all their finances in one place.
digital banking, financial services, personal finance management, bank account, Open Finance
UK-based retail banking company Lloyds Bank has enabled its customers to support their bank account application by scanning the chip in their passport via the bank’s app.
digital onboarding, NFC, identity verification, product upgrade, mobile banking
Building onto our previous reporting related to the partnerships that took place in Q3 2023 within the payments and commerce space, this analysis focuses on the banking and fintech industry.
banking, fintech, fraud prevention, financial crime, Open Banking, Open Finance, crypto, web3, The Paypers Quarterly Analysis series
UK-based blockchain-based wholesale payments firm Fnality has raised USD 95 million in a funding round led by Goldman Sachs.
funding, investment, blockchain, payments