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Unveiling the EBAday 2025 Agenda: Key Insights and Highlights!
The upcoming EBAday 2025 event will focus on the latest trends in banking and fintech, featuring insightful discussions and networking opportunities. The agenda includes sessions on the future of payments, addressing issues like instant payments, financial crime, and liquidity management. Attendees can participate in panels on industry challenges, digital innovation, and new payment processes. Day two will cover topics such as cross-border payments and open finance initiatives. Networking opportunities will be abundant, with social events planned throughout. The event will also feature start-up pitches on the FinTalks Stage and showcase leading fintech platforms in the Fintech Zone. Register now to attend.
Mswipe Expands into the UK Market with Strategic Cashflows Partnership
Mumbai-based Mswipe is expanding into the UK market, leveraging Cashflows’ acquiring license to streamline operations such as merchant onboarding and payment processing. This strategic partnership allows Mswipe to focus on merchant acquisition while Cashflows manages regulatory compliance, facilitating a cost-effective market entry. Mswipe plans to utilize its proprietary technology to create a seamless payment ecosystem. Cashflows’ CEO, Hannah Fitzsimons, highlighted the collaboration as a significant breakthrough, reducing typical market entry challenges. Mswipe’s Managing Director, Manish Patel, expressed commitment to using their technology to empower UK businesses, aiming to provide innovative payment solutions for merchants and consumers.
Revolut’s Bold Move: €1 Billion Investment in France and Banking License Application
Revolut plans to establish its new western European headquarters in Paris, aiming to create at least 200 jobs in France. As its largest EU market, France has around 5 million customers and nearly 300 employees. The company targets 10 million users by 2026 and 20 million by 2030. While holding a Lithuanian banking license for EU operations, Revolut will maintain its Vilnius base for expansion. CEO Nik Storonsky acknowledged past regulatory oversights and is pursuing 10 global license applications, including a Prepaid Payment Instruments license from India. These initiatives reflect Revolut’s commitment to growth and regulatory compliance in the fintech sector.
Senate Approves Measure to Eliminate CFPB Oversight on Big Tech Payment Apps
Recent Senate developments regarding the CFPB rule have ignited debate over regulatory oversight in fintech. Republicans, led by Senators Pete Ricketts and Mike Flood, support a resolution against the CFPB’s authority, which now awaits House approval. The CFPB rule, finalized last year, mandates large nonbank entities, including tech giants like Google and Apple, to follow federal regulations. Critics argue it hampers innovation and lacks clarity. Meanwhile, concerns arise over Elon Musk’s potential conflicts of interest due to his roles with X (formerly Twitter) and the CFPB, prompting Democratic senators to call for an ethics investigation.
Bank of London Under Regulatory Scrutiny as Auditor Highlights Future Uncertainties
The Bank of London, recently acquired by the Fellesskap Group & Holdings, is under investigation by the Prudential Regulation Authority (PRA) for historical issues. Auditors from EY have raised concerns about the bank’s financial stability, indicating material uncertainties that could affect its operations. Despite signing over 4,500 businesses and securing £500 million in deposits since its 2021 launch, the bank has faced challenges including a winding-up order from tax authorities and the resignation of CEO Anthony Watson. To address its financial difficulties, it secured £60 million in new capital, leading to a revised ownership structure and new board appointments.