The company revealed that Tim Clarke, currently a Non-Executive Director and Chair of the Audit and Risk Committees, will take over as Senior Independent Director upon Joss’s resignation. The board added that it is nearing the conclusion of an external recruitment process to identify Joss’s successor. Fintel expects to make a formal appointment before the…
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The firm explained in a press release that CPN is designed to connect banks, neo-banks, payment providers, virtual asset services, and digital wallets, offering real-time, low-cost, and transparent settlement of international transactions. Circle believes the initiative addresses longstanding inefficiencies in cross-border payments. “Despite improvements, cross-border payments can still take longer than one business day to…
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The move is expected to position Global Payments as a leading pure-play merchant solutions provider, with expanded global scale and capabilities. The company expects to process $3.7 trillion in annual payment volume and serve over 6 million customers across 175 countries. "Today marks a defining day for Global Payments," said CEO Cameron Bready. "The acquisition…
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Announced on Thursday, the partnership allows MoneyGram users in the US to authenticate their bank accounts through Plaid’s financial network. The service is expected to improve the MoneyGram Online experience. It is expected to scale to additional markets later this year. “The MoneyGram network moves money for over 50 million customers each year, across nearly every…
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According to a Letter of Acceptance, Waiver, and Consent (AWC) published by the regulator, the New York-based investment banking firm failed to establish and implement policies and internal controls reasonably designed to comply with the Bank Secrecy Act. Notably, FINRA says the firm did not respond in a timely manner to Financial Crimes Enforcement Network…
Read moreThe move expands its suite of equity derivatives products aimed at both retail and institutional investors. The new options, which began trading on 14 April, are said to be based on the S&P 500 Equal Weight Index, where each constituent is weighted equally at 0.2% following quarterly rebalancing. Cboe explained that, unlike the traditional capitalisation-weighted…
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In a press release on Sunday, CME noted that the post-trade solutions provider, formed in 2021, has grown into a critical infrastructure player in the global over-the-counter (OTC) derivatives market. The enterprise value of the transaction will be split equally between S&P Global and CME Group, which each hold a 50% stake in OSTTRA. The…
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The funding is expected to support Plum’s expansion plans and ongoing efforts to scale its business, particularly as it grows its user base across the UK and Europe. The London-based fintech, which uses AI to help users manage savings and investments, now serves over two million customers and has helped set aside more than £5…
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The partnership is expected to enable real-time fund transfers for millions of users in the region. The company explained that the collaboration will let bank and mobile wallet users link their accounts with PayPal and transfer funds seamlessly and securely. Citing Mordor Intelligence, the company said digital payment volumes in the MENA region are expected…
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The fine and censure are said to be for multiple compliance violations, including failures to implement policies required under Regulation Best Interest (Reg BI). According to a Letter of Acceptance, Waiver, and Consent published by FINRA last week, the firm failed to establish, maintain, and enforce written procedures reasonably designed to comply with Reg BI…
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