Cavendish: City investment bank warns of Budget ‘uncertainty’ October 7, 2024 Cavendish is one of the City's newest investment banks, formed by the £43m merger of Cenkos and Finncap last September.
UK launches world-first bank transfer fraud refund scheme October 7, 2024 As of Monday, the Payment Systems Regulator is requiring more than 1,500 banks, fintechs and other payment firms to reimburse victims of authorised push payment fraud up to a limit of £85,000 per claim.
Revolut slams Meta for falling ‘woefully short’ in tackling scams October 3, 2024 Fintech giant Revolut has thrown its weight behind calls for social media firms to help reimburse scam victims, calling out Meta’s latest anti-fraud push for falling “woefully short”. The London-based banking app said on Thursday that it was “deeply concerned” Meta’s new UK bank data-sharing programme “does not address what’s required to tackle fraud”. Meta, [...]
Moody’s upgrades UK banking outlook as lenders weather falling interest rates October 2, 2024 Credit rating agency Moody's has upgraded its outlook for the UK banking system to "stable" from "negative", expecting lenders' balance sheets to stay resilient to falling interest rates.
Starling Bank fined £29m for ‘shockingly lax’ financial crime controls October 2, 2024 The Financial Conduct Authority (FCA) has fined digital challenger bank Starling £28.96m for failings related to its financial crime controls that the City regulator called "shockingly lax".
Meta: Instagram owner to expand UK bank data scheme in anti-fraud push October 2, 2024 Meta is to partner with more UK banks for a data-sharing programme aimed at tackling fraud, as tech giants come under pressure to address a surge in scams on social media.
Libor: After more than 50 years, tainted benchmark is officially no more October 1, 2024 Libor, the more than 50-year-old benchmark borrowing rate, has officially been phased out after an arduous process kickstarted by a rigging scandal in the early 2010s.
HSBC writes off stake in former UK fintech darling Monese October 1, 2024 HSBC has written off its holding in British fintech Monese just two years after taking a $35m stake in the firm.
Nationwide completes Virgin Money takeover to create high street banking titan October 1, 2024 Nationwide has completed its £2.9bn takeover of Virgin Money in the UK's biggest banking merger since the financial crisis amid increasing consolidation among mid-sized lenders.
Peel Hunt warns of market slowdown ahead of UK Budget and US election October 1, 2024 City investment bank Peel Hunt has flagged a slowdown in UK capital markets activity as investors nervously await the results of the Budget and US election.