Sector Updates

EchoPay, an Account-to-Account (A2A) payments provider, and Token.io, an open banking payment infrastructure leader, have announced their collaboration. Their joint effort aims to enhance the A2A payment experience for wholesale merchants across the United Kingdom.

The Bank of England (BofE) has revealed it intends to launch a consultation to set out their assessment of the case for a UK central bank digital currency (CBDC) next year.

The technological revolution is making the job of compliance officers increasingly intricate. From record-keeping to monitoring approved communication channels and adapting to the ever-changing world of social media advertising, the list of challenges seems endless. A burning question for many is the potential influence of large language models (LLMs) on their profession. Will LLMs simplify their tasks or add complexity?

Digital transformation and changing consumer demands are driving the maturation of the global payment as a service market at an expected compound annual growth rate of 16.9% in the next seven years.

Curated wholesale marketplace Faire has achieved unicorn status after being valued over $1bn following a huge $150m funding round.

Regulators warn that pension savers have lost over £30m to scammers as people know more about football than about their own lifetime savings.

UK FinTech Lightyear has teamed with cross-border payments firm Currencycloud to remove hidden fees for investors globally.

Corvus Insurance, which offers smart commercial insurance products, has netted $100m in Series C, which brings its valuation to $750m.

IOUU, a peer-to-peer lending platform, has reportedly raised $1.3m in a funding round as it looks to develop several new products.

JPMorgan Chase has recently updated its interim financed emissions reduction targets for several carbon-intensive sectors.