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Latest Results from /retail

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PSR steps back from capping Visa and Mastercard fees despite lack of competition

The UK's Payment System Regulator (PSR) has stepped back from imposing financial penalties on Visa and Mastercard scheme and processing fees, despite evidence that the firms are running an effective duopoly in the supply of services to merchants.

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EFG Hermes acquires minority stake in Danish fintech Kenzi Wealth

Middle Eastern investment bank EFG Hermes has acquired a minority stake in Danish fintech Kenzi Wealth.

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JPMorgan to give AI training to all new hires

JPMorgan is to give AI training to all new employees, as the bank seeks to cement its reputation as an AI powerhouse.

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Chetwood Financial acquires buy to let lender CHL Mortgages

UK digital bank Chetwood Financial has acquired buy to let mortgage lender CHL Mortgages to complement its soon-to-launch ModaMortgage's proposition.

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Barclays issues monthly 'Scams Bulletin'

Barclays has launched a monthly 'Scams Bulletin' to inform consumers of emerging trends in criminal fraud tactics.

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Revolut opens job recruitment tool to companies on LinkedIn

Revolut has integrated its inhouse recruitment platform with LinkedIn, enabling companies to use the toolkit to manage their application and hiring processes direct from the business and employment-focused social media platform.

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GB Bank secures £85 million capital raise

GB Bank, which specialises in funding property projects for SME property developers and investors, has secured £85m of additional capital from new investor Hera Holdings and existing shareholder the Teesside Pension Fund.

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Kudos raises $10.2m for AI-powered smart wallet

Kudos has raised $10.2 million in a Series A funding round led by QED Investors for its AI-powered smart wallet and shopping assistant.

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Half of young Brits left frustrated after finding local branch has closed

Half of young Brits have been left frustrated after finding their local branch closed when they needed it, according to research from Nationwide.

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A2A payments firm Aeropay raises $20m

American open banking account-to-account payment fintech Aeropay has raised $20 million in a Series B funding round led by Group 11.

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Iberpay and Santander become first particpants in EPC's OCT Inst scheme

Spain's Iberpay and Santander have signed up as the first participants in the European Payment Council's new OCT Inst scheme for faster international account-to-account payments.

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FCA charges reality TV stars over 'finfluencer' campaign

The Financial Conduct Authority has charged a host of so-called 'finfluencers' - including former Only Way is Essex star Lauren Goodger - for promoting an unauthorised trading scheme to their social media followers.