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/retail

Revolut to invest €1 billion in France and apply for banking licence

Revolut is to invest more than $1 billion to expand its operations in France over the next three years as it prepares to apply for a French banking licence.

/payments

UK Government to rush through new rules to tame BNPL 'wild west'

After years of wrangling, the UK Government is finally introducing new rules to clamp down on what it describes as the 'wild west' of buy now, pay later lending.

/ai

Aveni launches FinLLM with backing from Lloyds and Nationwide

Lloyds and Nationwide-backed fintech Aveni has released the first version of its domain-specific large language model for financial services, FinLLM.

/wholesale

Finastra to sell Treasury and Capital Markets business to Apax Partners

Finastra is to sell its Treasury and Capital Markets (TCM) business unit to an affiliate of venture capital firm Apax Partners in a deal estimated at $2 billion, including debt.

/security

UK businesses would adopt open banking for security benefits

More than 40% of British businesses are keen to integrate open banking into their operations citing the potential benefits of increased security and fraud prevention, but many are held back by lack of understanding, according to a study from NatWest.

/ai

Citi joins Series A for AI-powered B2B embedded finance platform CrediLinq

AI-powered B2B embedded finance platform CrediLinq has closed a $8.5 million Series A funding round led by OM/VC and MS&AD Ventures.

/payments

Paythru partners with Adyen on electric vehicle charging payments platform

The new EV payments platform will help to standardise how drivers pay at EV charge points. EV drivers primarily pay for charging using credit or debit cards, either by tapping their cards on a payment terminal or by using a kiosk. Other methods include using charging cards (RFID), smartphone apps, and 'Plug & Charge' technology. Some stations also allow for online payments or payments through QR codes.

/sustainable

GIST Impact partners with Global Canopy to help financial institutions assess deforestation risk

The collective goal of this partnership is to make deforestation analysis the norm at every financial institution.

/crypto

Mastercard and MoonPay bid to mainstream stablecoin payments

Mastercard is stepping up its commitment to stablecoins, inking a deal with MoonPay to enable people and businesses to use them for payments across global markets.

/payments

Wero wallet arrives at the online checkout via Nuvei

Nuvei has joined the European Payments Initiative (EPI) as one of the first providers to offer merchants the Wero digital mobile wallet as an option in their online checkouts.

/retail

Acorns buys family wealth app EarlyBird

Savings and investment app Acorns has acquired the assets of EarlyBird, a "family wealth and digital memory" platform for kids. Financial terms were not disclosed.

/payments

ECB sets back deadline for non-bank PSP access to Target

The European Central bank has postponed a deadline for allowing non-bank payment service providers (PSPs) to access central bank-operated payment systems, including the Target settlement system.