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The challenger maintains “an IPO is still in our sights.”

Just a week after Starling Bank announced it has reached profitability, and suitors are already reportedly queuing up. According to The Times, JP Morgan and Lloyds Banking Group have both expressed interest respectively in the challenger bank. JP Morgan is currently gearing up for a 2021 launch of its own UK digital bank, possibly under its Chase brand, which is little-known in …

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Visa backs the first-ever credit card to offer bitcoin rewards

It’s about to get a lot easier to earn bitcoin thanks to a first-of-its-kind credit card: the Bitcoin Rewards Credit Card. While there are debit cards by Coinbase and Fold that offer bitcoin rewards, this is the first credit card that rewards you with the cryptocurrency, instead of points or miles. Visa and cryptocurrency financial tech company BlockFi have partnered …

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Central Bank of Iceland Launches New Interbank Payment System with SIA

The Central Bank of Iceland (CBI) and SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, have gone live with the new real-time gross settlement system (RTGS) and the new instant payment platform. From now on, CBI can rely on a more strategic and modern infrastructure for its high and low-value payment …

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Lloyds is world’s first bank live on Swift gpi instant

Lloyds Banking Group is the first financial institution live on Swift’s new gpi instant connection service. Ed Thurman, Lloyds: “The gpi instant service is set to be a game changer in cross-border payments” Swift claims that gpi instant enables consumers and businesses to send payments “in seconds” across borders and “around the clock”. Instant connects …

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Revolut launches early salary feature in the UK and web app

Fintech startup Revolut has two new features this week. First, the company is launching a web app for its regular users — not just business users. Second, in the U.K., Revolut  has partnered with Modulr to let you receive your salary a day early. Revolut has historically focused its efforts on its mobile app. If you have a business account with …

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Chime’s app goes down for a day as users complain of rejected purchases

Chime, the $15 billion-valued US challenger banking service, experienced nearly eight hours of downtime on its app and website last week. Whilst it said card payments and ATMs were still working, the start-up’s eight million customers could not access funds via the app or website for the majority of that Thursday. “We are currently experiencing intermittent …

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Mastercard’s Cyber Secure Uses AI To Help Banks Fight Cyber Fraud

SHARETWEETSHARESHAREPRINTEMAIL Mastercard has unveiled its artificial intelligence (AI)-fueled Cyber Secure tool suite, which lets banks evaluate cyber risk throughout their ecosystems and stop possible breaches from occurring, according to a Friday (Oct. 30) announcement emailed to PYMNTS. Banks can discover and rank threats and vulnerabilities across their cyber environments with the help of the tool. Furthermore, …

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Australia’s Central Bank Kicks Off CBDC Research Project With ConsenSys as Partner

The Australian central bank announced Monday it’s partnering with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys to explore the possible use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT). The Reserve Bank of Australia (RBA) said the project will involve the development of a proof-of-concept (POC) for the issuance of a …

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Strive launches challenger ‘bank’ for families, following GoSave acquisition

There’s a new challenger on the block for kids and parents, with Strive launching today with its own take on digital banking and financial education for families to rival the likes of Osper and GoHenry. Strive, which today announced the acquisition of ‘digital piggy bank’ fintech GoSave, is combining GoSave’s interactive piggy bank with its savings account …

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