The United Kingdom has reportedly begun to draft regulations to govern artificial intelligence (AI). Policy officials are in the early stages of drafting legislation, but the government is unlikely to introduce a bill until late 2024 or early 2025, after an AI conference that will...
Monzo, the British FinTech unicorn, is aiming for a £4 billion valuation in its latest funding round. The digital bank, which currently has over nine million U.K. personal current account customers, is in discussions with investors to raise fresh funds, according to The Financial Times....
PayPal received approval from the Financial Conduct Authority (FCA) on Tuesday (Oct. 31) to offer crypto-asset activities in the United Kingdom. The FCA has implemented stricter rules on marketing crypto assets, causing issues for some companies, Reuters reported Wednesday (Nov. 1). Those wishing to offer crypto assets in the U.K....
Great Britain’s smaller banks are apparently among the largest targets for payment fraud. That’s according to a report issued Tuesday (Oct. 31) by the U.K.’s Payment Systems Regulator (PSR) examining the extent of authorized push payments fraud (APP). “This is the first time we can...
October 06, 2023
As the use of facial recognition software continues to expand around the world, concerns about privacy and human rights violations have reignited the debate surrounding this technology. On Friday (Oct. 6), a bipartisan group of 65 British lawmakers called for an immediate ban on live facial recognition surveillance on U.K. streets by both the police […]
October 06, 2023
Real-time payments have revolutionized the global financial landscape, fostering greater efficiency, convenience and inclusion. Countries worldwide are embracing real-time payment systems to meet the growing demand for instant transactions. Real-time...
December 30, 2022
In 2023, the U.K. will accelerate its divergence from EU payment and crypto regulations. Meanwhile, the EU is moving ahead with its own policy agenda and in 2023 will continue...
October 12, 2022
For any business accepting digital payments, navigating different payment systems in order to provide consumers with their preferred method can cause a broad range of issues. For instance, integrating each...
May 15, 2024
The U.K. payments sector is protesting the government’s plan to have companies reimburse fraud victims. Dozens of members of the Payments Association have written to the British economic secretary to the Treasury, Bim Afolami, to push back against the rules, Bloomberg News reported, citing a draft of the letter set to be sent Wednesday (May […]
April 15, 2024
The United Kingdom has reportedly begun to draft regulations to govern artificial intelligence (AI). Policy officials are in the early stages of drafting legislation, but the government is unlikely to...
February 20, 2024
Monzo, the British FinTech unicorn, is aiming for a £4 billion valuation in its latest funding round. The digital bank, which currently has over nine million U.K. personal current account...
November 01, 2023
PayPal received approval from the Financial Conduct Authority (FCA) on Tuesday (Oct. 31) to offer crypto-asset activities in the United Kingdom. The FCA has implemented stricter rules on marketing crypto assets, causing issues for some...
