HSBC and Standard Chartered are deploying large language models to automate regulatory compliance workflows, cutting review times by up to 70 per cent. The shift marks a new phase in how the City applies generative AI to its most labour-intensive operations.
London-based Checkout.com has signed payment processing deals with three major European airlines, including British Airways parent IAG, as it targets high-value verticals in an increasingly competitive acquiring market.
The UK's largest energy suppliers and broadband providers have begun accepting Variable Recurring Payments, marking a pivotal moment for Open Banking's push beyond one-off transactions.
By Oliver Trent
Private equity firm Bridgepoint has finalised its acquisition of SME lender Funding Circle in a £1.4 billion take-private deal, delisting the company from the London Stock Exchange after six years as a public company.
New regulatory mandates from the Payment Systems Regulator are compelling fintechs and banks to implement real-time fraud screening or face significant penalties.
By Priya Sharma
Starling Bank is pushing ahead with its European expansion plans, opening a Dublin office and applying for an Irish banking licence to serve customers across the EU.
Alternative lender iwoca has disbursed over £1.5 billion to UK small businesses in the past twelve months, marking a record year driven by demand for flexible credit products.
By Priya Sharma
Monzo has reached a landmark 10 million customer milestone while reporting its first full-year profit, marking a turning point for the UK's largest digital-only bank.
Wise has processed over £32 billion in cross-border transfers from UK accounts in the past quarter, marking a 41% year-on-year increase driven by freelancer payments and SME trade flows.
Open Banking payment volumes in the UK have reached a new milestone, with monthly transactions exceeding 12 million for the first time as consumer adoption accelerates.