General News

June 8, 2024 @ 9:55 am By Omar Faridi  |  

For a long time, the German property industry experienced a boom, but with increasing regulation and rising cost and efficiency pressure, “the pressure on companies to innovate is increasing,” according to report from KPMG. The majority of companies have recognized the need “for more innovation,… Read More

June 7, 2024 @ 7:14 am By Omar Faridi  |  

London Stock Exchange Group plc (LSEG) recently announced that Pascal Boillat has been appointed as Chief Operating Officer (COO). Pascal will join the Group on 1 July 2024, reporting to David Schwimmer. Based in New York, Pascal will reportedly “lead LSEG’s global operations division supporting… Read More

June 6, 2024 @ 12:58 pm By Omar Faridi  |  

CME Group, the derivatives marketplace, reported its May 2024 market statistics set a new average daily volume (ADV) record of 26 million contracts for the month, “up 4% from May 2023.” The company’s interest rate and metals products also “reached May ADV records, as its… Read More

June 6, 2024 @ 10:23 am By JD Alois  |  

While stating the 2% target rate of inflation is still in place, the European Central Bank (ECB) has cut benchmark rates by 25 basis points. The ECB said the European economy is starting to grow, and they anticipate the 2% target will be hit in… Read More

June 6, 2024 @ 9:46 am By Omar Faridi  |  

SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, today announced Stephen Simcock as the company’s new general counsel. Simcock – who has spent more than three decades helping retail… Read More

June 5, 2024 @ 10:03 am By Omar Faridi  |  

Nowadays, cybersecurity has become a paramount concern for organizations of all sizes and industries. As cyber threats continue to evolve in complexity and sophistication, businesses are increasingly turning “to cybersecurity vendors for innovative solutions to safeguard their sensitive data.” However, in the ever-changing world of… Read More

June 4, 2024 @ 9:36 am By Omar Faridi  |  

DNA Payments has grown its portfolio of POS alternative payment methods by launching Alipay+, a suite of cross-border mobile payment and digitalisation technology solutions operated by Ant International. Alipay+ will allow over 50,000 UK merchants “using DNA Payments’ POS terminals to accept direct payments from… Read More

June 4, 2024 @ 7:14 am By Omar Faridi  |  

Playing the lottery can be fun – there’s a slim chance you might win a life-changing sum of money, the PensionBee team notes in a blog post. However, new modelling from PensionBee, reveals if the approximately 50% of UK adults who regularly “enter the National… Read More

June 4, 2024 @ 6:53 am By Omar Faridi  |  

The UK’s Payment Systems Regulator (PSR) has announced recently that David Geale has been appointed Interim Managing Director of the PSR with effect from 10 June. The interim appointment will be for a period of nine months. David joins the PSR from the FCA where… Read More

June 3, 2024 @ 11:41 pm By Omar Faridi  |  

Singapore recently released the Environmental Crimes Money Laundering (ML) National Risk Assessment (NRA) which identifies the key threats and vulnerabilities in environmental crimes ML that Singapore “is exposed to, and outlines mitigation measures which government agencies, financial institutions (FIs) and Designated Non-Financial Businesses and Professionals… Read More

June 3, 2024 @ 4:09 pm By Omar Faridi  |  

The EY Future Consumer Index (FCI), a global study surveying 23,000 consumers across 30 countries, including 1,500 in the US, indicated that US consumers are optimistic “about the future, with 77% of consumers noting that they think their lives are the same or better now… Read More

June 3, 2024 @ 3:12 pm By Omar Faridi  |  

Lower inflation and expectations of interest-rate cuts on global financial markets have helped loosen financial conditions, which has reduced near-term risks, according to an update from Sweden’s Riksbank. However, Riksbank points out that there “is considerable uncertainty, and if policy rates remain high for a… Read More

June 3, 2024 @ 11:11 am By JD Alois  |  

Insurtech Cover Whale Insurance Solutions, Inc. has hired Rachael Dugan as its first General Counsel & Corporate Secretary. The company states that Dugan will lead all legal, compliance, corporate governance and regulatory affairs matters for the company and report directly to CEO Dan Abrahamsen. She… Read More

June 3, 2024 @ 8:52 am By Omar Faridi  |  

The European Central Bank (ECB) has released the latest results / findings from the consumer expectations survey results, covering the April 2024 period. When compared with March 2024, the ECB update reveals: median consumer inflation perceptions over the previous 12 months were unchanged, while median… Read More

June 3, 2024 @ 6:44 am By Omar Faridi  |  

Richard Andrews, KPMG’s head of ESG for financial services, has recently commented on the UK Financial Conduct Authority’s (FCA) anti-greenwashing rules (AGR), which come into force recently. Andrews noted: “While we expect the FCA to take a pragmatic approach and give authorised firms some leeway… Read More

June 3, 2024 @ 12:46 am By Omar Faridi  |  

Cybercrime remains a real threat in Germany: more than one in three companies (35 per cent) in this country has been the victim of a cyber attack in the past two years. The attacks have placed a greater financial burden “on a large number of… Read More

June 2, 2024 @ 4:03 pm By Omar Faridi  |  

With new vehicle inventory rebounding and some manufacturers continuing to offer incentives, consumers are shifting back into the new vehicle market—resulting in a notable impact on lender market share. According to Experian’s State of the Automotive Finance Market Report: Q1 2024, captives’ market share “for… Read More

June 2, 2024 @ 2:53 pm By Omar Faridi  |  

The nation’s banking and credit card providers have done a great job establishing best practices for a seamless, efficient digital user experience on their mobile apps and websites, according to an extensive research study. However, with limited differentiation between brands, it’s become “challenging to distinguish… Read More

June 2, 2024 @ 1:57 pm By Omar Faridi  |  

Billtrust, a B2B order-to-cash and digital payments market leader, announced new AI functionality within its accounts receivable software platform to empower finance professionals to better understand their business, make strategic decisions and engage customers more effectively. Billtrust has introduced a new generative AI tool, Billtrust… Read More

June 1, 2024 @ 8:17 pm By Omar Faridi  |  

UK Finance has recently released its financial services manifesto, outlining key priorities the next government should focus on. David Postings, Chief Executive of UK Finance, said: “The UK’s financial services sector is a global success story and one any future government should seek to partner… Read More