British Banks Call for Caution on AI Regulation
Financial companies and technology firms warn UK regulators against applying harsh measures when forming the concept of activities to control the development and spread of artificial intelligence.
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Revolut Continues Its Attempts to Obtain British Banking License
Revolut continues its difficult path to obtaining a banking license in the United Kingdom.
Lloyd’s Reports Potential Global Consequences of Payments System Cyber Attack
Insurance marketplace Lloyd’s of London reported that in the event of a large-scale cyberattack on the systemic payment system, the global economy may face a consequence in the form of damage for $3.5 trillion.
Instant Payments Play Key Role in Cash Decline: McKinsey
Cash usage declined by nearly 4% globally in 2022, with new developments in instant payments and digital wallets driving cash displacement in certain geographies.
Lloyds Launches New Merchant Tools
British Lloyds Bank announced the expansion of cooperation with the FreedomPay commerce platform, which is focused on the consumer.
Metro Bank Secures $1.1 Billion
The media reported that the British Metro Bank was able to secure $1.1 billion from investors.
TalkTalk Sells B2B Unit
The British company TalkTalk Telecom Group is currently selling its business-to-business unit to a specialized organization that is controlled by the main shareholders of these broadband Internet access providers.
Apple Reportedly Adds Open Banking-Powered Capabilities to iPhone Wallet
The media reports that Apple has launched an integration with the iPhone Wallet app, through which users of this digital product living in the UK have access to information about their account balances and transaction history data.
UK GDP Grows Faster Than Any European G7 Country Since 2010
UK GDP is now 1.8% higher than its pre-pandemic levels, having increased by 0.2% in Quarter 2 (Apr to Jun) 2023
Coinbase CEO Criticizes Chase UK Ban on Crypto Operations
Coinbase CEO Brian Armstrong negatively assessed JPMorgan Chase’s decision to impose a ban on financial operations involving the use of cryptocurrencies in the British subsidiary of Chase UK digital banking.
Gordon Brown Says About AI’s Ability to Save Economy From Low Growth
Former British Prime Minister Gordon Brown said that artificial intelligence can be a salvation for the global economy, which will save this sphere from a decade of low growth.
Bank of England Postpones Implementation of New Banking Reforms for Summer 2025
The Central Bank of England has changed the timing of the implementation of the banking sector reform process, postponing the start of relevant activities to the summer of 2025.
NatWest Faces ATM Glitch
The British bank NatWest announced the elimination of an IT problem with its ATMs, due to which thousands of customers of this financial institution decided that funds had disappeared from their accounts.
UK Antitrust Watchdog Publishes Principles for AI Regulation
The UK’s antimonopoly watchdog has unveiled the principles of artificial intelligence regulation and announced the launch of a project aimed at strengthening control over advanced technology, the development of which is carried out at a very rapid pace.
Orsted to Power 90K Irish Households With Solar Energy
Orsted and Terra Solar will develop a new 400 MW solar energy portfolio in Ireland
HSBC Launches New Account Opening Service
HSBC has launched a new service for opening business accounts in several markets.
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