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Hey FinTech Fanatic! UK financial services firms plan to increase their generative AI investment from 12% to 16% of technology budgets by 2025, according to new research from UK Finance and Accenture. The report reveals that 38% of financial institutions have developed comprehensive AI roadmaps for integration based on value,

Hey FinTech Fanatic! KuCoin's operator, Peken Global Limited, will exit the U.S. market for at least two years after pleading guilty to operating an unlicensed money transmitting business. The settlement includes a $297 million penalty, and founders Chun (Michael) Gan and Ke (Eric) Tang will step down

Hey FinTech Fanatic! Bitpanda has secured a MiCAR (Markets in Crypto-Assets Regulation) license from Germany's Federal Supervisory Authority (BaFin), making it the first major crypto company to do so. The company grew from 1 million users in 2019 to 6 million by December 2024, and will now operate

Hey FinTech Fanatic! Nu Mexico has hit a major milestone—reaching 10 million customers, doubling its base in the last year. Since launching in 2019, Nu has expanded from a simple credit card to a full suite of financial products, including savings accounts, debit cards, and personal loans, serving nearly

Hey FinTech Fanatic! The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have announced next steps for open banking in the UK, which now serves 11.7 million active users and processes 22.1 million monthly payments. Open Banking Limited will establish an independent central operator to coordinate variable

Hey FinTech Fanatic! HSBC is shutting down Zing, its international payments app, just one year after launch according to Financial News. The bank had developed Zing in early 2022 with initial plans to expand into the Netherlands followed by Singapore and the United Arab Emirates. According to a person familiar