The company said in its third-quarter results that its growth was driven by its expanding customer base, which now totals over 9 million active users, marking a 20% increase from the previous year. The company's Wise account balances also saw a significant boost, growing by 26% to £16.2 billion. Continued adoption of the Wise account…
Read more
The company announced the move in its 2024 pre-close trading update on Thursday, explaining that it is aimed at aligning the company's operational structure with its growth ambitions and improving operational leverage. The decision comes in response to challenging market conditions, including a stronger dollar, reduced aid flows, and political uncertainty impacting demand for cross-border…
Read more
The move is expected to bolster IG's trading and investment offerings in the UK, helping to expand its reach to new customer segments and enhance its technological capabilities. The deal will be funded in cash from IG’s existing capital resources. Completion is expected in mid-2025. Breon Corcoran, CEO of IG, said it is a “rare…
Read more
It marks the inaugural product under its newly introduced platform, Equiti Wealth, aimed at offering diverse wealth management solutions tailored to long-term investment needs. The Equiti Global Balanced Fund is designed to provide investors with access to a wide array of professionally managed funds, with a minimum investment threshold set at $1,000. "Today signifies a…
Read more
The international central securities depository of Deutsche Börse Group explained that the development, achieved in partnership with BRD Groupe Société Générale and the Romanian central securities depository, Depozitarul Central, allows international investors to invest directly in Romanian government and corporate bonds through their existing Clearstream accounts. The move is expected to enhance market access and…
Read more
The lawsuit alleges that Capital One deceived customers about its 360 Savings accounts, promising "best" and "highest" interest rates while freezing those rates at low levels despite rising interest rates across the market. The CFPB further claims that Capital One simultaneously introduced a similar product, the 360 Performance Savings account. This is said to have…
Read more
Hyperwallet is a PayPal service for global payouts. The partnership lets Hyperwallet's customers send real-time payments to over 450 million mobile wallets and bank accounts in countries including Bangladesh, Indonesia, Malaysia, the Philippines, South Korea, and Vietnam. The company said the new alliance comes in response to the rapidly growing digital wallet usage in Asia-Pacific,…
Read more
The new six-year agreement will see Worldline continue to provide issuing and transaction processing services for KBC in the Belgian market. Furthermore, the renewed partnership is expected to build on a strong foundation of trust and co-creation between the two companies, aiming to support KBC's ambitions in the financial sector. Worldline’s customer-centric solutions and service…
Read more
The SEC order found that Robinhood failed to comply with a broad spectrum of regulations. These are said to include delays in investigating and reporting suspicious transactions, inadequate measures to safeguard customer data from identity theft, and failing to adequately address a cybersecurity breach that compromised user data. “Today’s order finds that two Robinhood firms…
Read more
The announcement follows approval from the Securities and Futures Commission (SFC), the Hong Kong Monetary Authority (HKMA), and the People's Bank of China. HKEX explained that the initiative allows international investors holding these bonds through Bond Connect to use them as margin collateral for OTC derivatives. Initially implemented for Northbound Swap Connect, OTC Clear expects…
Read more