Grab Charges Philippine Bike Riders over 230% Interest for In-App Loans
Grab Finance is offering short‑term in‑app loans to Philippine ride‑hailing partners with an effective annual interest rate exceeding 230%, reaching about 277% for a typical PHP 11,000 loan. The loans are repaid through daily deductions from the riders' e‑wallets, a model that ties repayment to earnings and limits borrowers' ability to settle balances in lump sums. While Grab argues the product is non‑compounding and meets cash‑flow needs of underserved workers, critics say the high cost creates a debt trap and may breach Philippine usury standards. The loan portfolio grew 53% YoY in Q4 2025, now accounting for roughly 10% of Grab’s revenue.
BBVA Boosts Audit Productivity with AI Assistant
BBVA has integrated ChatGPT Enterprise across its 120,000‑employee workforce, including a custom GPT for its internal audit function. The AI assistant automates data‑analysis tasks, reducing manual programming and documentation while maintaining auditor oversight. BBVA estimates a 10 % productivity gain for...
Velocity Financial Inc (VEL) Q4 2025 Earnings Call Transcript
Velocity Financial reported a 66.5% jump in pretax earnings, setting a new company record for Q3 2025. Loan production reached $739 million, with new applications exceeding $1.4 billion, driving a 32% year‑over‑year portfolio expansion. Management highlighted a landmark single‑counterparty securitization that broadens...
TSS Inc (TSSI) Q4 2025 Earnings Call Transcript
Global Payments reported third‑quarter 2020 results that far exceeded expectations, driven by a technology‑enabled strategy. Adjusted net revenue reached $1.75 billion, a 64% increase year‑over‑year, while adjusted operating margin rose 250 basis points to 41.1%. The company highlighted strong omnichannel volume...
OppFi Inc (OPFI) Q4 2025 Earnings Call Transcript
OppFi reported a record Q3 2025 with revenue of $155 million, up 14% year‑over‑year, and adjusted net income of $41 million, a 41% increase. Net originations grew 12.5%, driven by nearly half of new loan volume from fresh customers and an auto‑approval...
Stepping Back, Staying Safe: A Joined-Up Approach to Growth
At the MoneyLIVE Summit 2026, FCA executive David Geale outlined the planned consolidation of the Payment Systems Regulator into the FCA, promising a single, coordinated payments oversight body. He highlighted recent pro‑growth reforms, including the removal of the £100 contactless...
Federal Court Dismisses Chapter 93A Claims Predicated on Fraud for Failure to Plead With Particularity
The U.S. District Court for Massachusetts dismissed Chapter 93A fraud claims against Bank of America after plaintiffs failed to meet Rule 9(b)'s heightened pleading requirements. Plaintiffs alleged $48,000 was transferred via Zelle without authorization and that the bank misrepresented Zelle’s safety and...
Elon Musk Says X Money Set to Debut in April
Elon Musk announced that X Money, the financial services arm of the X platform, will enter early public access in April 2026. The rollout follows a multi‑year push to turn X into a super‑app, with a Visa Direct partnership enabling...
OCC's Gould Doubles Down on State Preemption
Comptroller Jonathan Gould reaffirmed the OCC's commitment to federal preemption of state banking rules, citing the agency’s Lincoln‑era origins. He announced an aggressive filing strategy of amicus briefs and court filings to solidify the OCC’s legal position. Gould dismissed criticism...
Zions' Revamped Tech Leadership Team Eyes AI, Stablecoins
Zions Bancorp has restructured its technology leadership after longtime CTO Jennifer Smith departed, assigning CIO Margaret Mayer and chief transformation officer Ken Collins to jointly run the enterprise technology unit. The bank completed a decade‑long core systems modernization in 2024,...
Senators Try to Unlock Stalled Crypto Clarity Act with Compromise on Stablecoin Yield
Senators Angela Alsobrooks and Thom Tillis are negotiating a compromise on stablecoin reward provisions to revive the stalled Digital Asset Market Clarity Act. The compromise would allow limited, transaction‑based rewards while preserving guardrails to prevent deposit flight, addressing bankers’ concerns...
Credit Diverges: Jumbo Rises, FHA Slips
Government loan performance issues have tightened underwriting, while jumbo credit availability rose 2.9% in the past month, driven by non‑QM loan growth. In contrast, FHA‑backed loan availability slipped 0.8% as delinquencies topped 11%. The Mortgage Credit Availability Index edged up...
Cashless Payments Gain Ground at Self-Serve Laundries
A recent poll shows that more than half of U.S. self‑serve laundries now earn the majority of their revenue from cashless payments, with 52.3% reporting a significant rise in digital transactions over the past three years. While two‑thirds still accept...
Newrez, Pennymac, Rate Roll Out Fresh Offerings
Newrez introduced TitlePass, a title‑insurance waiver for qualified rate‑and‑term refinances in 18 states, promising up to $2,200 savings for borrowers. Pennymac’s third‑party origination arm launched a non‑QM menu featuring debt‑service‑coverage‑ratio, bank‑statement, and asset‑qualifier loans aimed at entrepreneurs and retirees. Rate’s...
Societe Generale-FORGE Launches EURCV Stablecoin on Stellar
Societe Generale‑FORGE has deployed its euro‑denominated stablecoin, EUR CoinVertible (EURCV), on the Stellar blockchain, marking the token’s third network after Ethereum, Solana and the XRP Ledger. The Stellar launch leverages high throughput, low fees and an on‑chain DEX to broaden EURCV’s...
Report From the Commission to the Council and the European Parliament on the Preparedness in the EU Financial Sector
On 10 March 2026 the European Commission delivered a report to the Council and European Parliament assessing the EU financial sector's preparedness for systemic shocks. The document synthesises input from the European Central Bank, European Supervisory Authorities, the European Systemic Risk Board,...
UK Government‘s Long-Term Fraud Strategy Labels Crypto as ‘Growing Risk‘
The UK Home Office released a fraud‑prevention strategy for 2026‑2029 that explicitly flags crypto assets as a growing risk for consumers and businesses. It highlights how scammers lure victims into transferring funds via social‑media and messaging platforms, and notes lingering...
Podcast | Global Regulation Tomorrow Plus: Geopolitics 1
The Global Regulation Tomorrow Plus podcast launches a three‑part series on building regulatory and operational resilience amid rising geopolitical tensions. In the first episode, hosts Jonathan Herbst, Georgia Karamani and Simon Lovegrove focus on prudential challenges, including exposure mapping, stress...
Government Backing and Cross-Border Payments Fuel Digital Yuan
China’s e‑CNY has processed roughly $2.37 trillion in transactions over the past two years, buoyed by explicit government backing and a blanket ban on private cryptocurrencies. The digital yuan now anchors Project mBridge, a cross‑border payment network that has expanded to...
Too Friendly to Rob, and Other Tales From a 200-Year-Old Bank
Millbury National Bank, a 201‑year‑old, $140 million‑asset community bank in Massachusetts, uses personal greetings – often by name – as a security tool that once thwarted a robbery. The bank is more than half owned by women, earning a minority depository...
DOJ, Halkbank Agree to End Iran Sanctions Case
The U.S. Justice Department and state‑owned Halkbank have reached a deferred prosecution agreement, ending a five‑year case alleging the bank helped Iran evade sanctions. Under the deal, Halkbank must stop any Iran‑benefiting transactions and submit to an independent compliance monitor....
Bank Of America Lends A Hand To Nexstar
Bank of America, alongside undisclosed lenders, has arranged a leveraged loan to finance Nexstar Media Group’s proposed acquisition of TEGNA. The financing is intended to help Nexstar secure the deal that would make it the nation’s largest single owner of...
159 – the Three-Digit Number that Could Stop You From Being Scammed
The three‑digit hotline 159, launched by Stop Scams UK in 2021, gives UK consumers a fast way to verify suspicious banking calls or texts. It links callers to the fraud teams of more than 99% of retail bank accounts, and over...
Superior Credit Union Renews Partnership with Mahalo Banking
Superior Credit Union has renewed its long‑term partnership with Mahalo Banking, extending the use of Mahalo’s Thoughtful Banking® platform. The renewal follows measurable gains in operational efficiency and a steady rise in online banking registrations. Mahalo’s core‑centric architecture delivers real‑time...
Broadridge Teams Up with Crypto.com to Streamline Crypto Order Routing via NYFIX
Broadridge Financial Solutions has partnered with Crypto.com to embed cryptocurrency trading into its NYFIX order‑routing platform, extending the service to over 2,200 buy‑side and sell‑side firms worldwide. The integration uses the industry‑standard FIX protocol, allowing institutional brokers to send crypto...
German Consumers Trust Banks More than Government to Safeguard Personal Data From AI Algorithms : Research
Solaris' poll of 4,000 German online‑banking users finds banks are the most trusted institution for safeguarding AI‑processed personal data, with 45.4% preferring banks over insurers and government. Trust is strongest among 18‑29‑year‑olds, where 51.5% rank banks highest. One‑third of respondents...
Banks Failing to Screen for Illegal Mining Risks
A Reuters‑cited study by WWF and Themis finds that roughly 40% of banks and investors do not screen for illegal mining risks, despite 84% operating in high‑risk sectors such as transport and trade. Illegal mining generates at least $48 billion in...
AD&C Loan Volume Falls Despite Declining Financing Costs
Single‑family acquisition, development and construction (AD&C) loan stock slipped 1.5% in Q4 2025, reaching $456.3 billion despite two Fed rate cuts. While overall AD&C volume fell, 1‑4‑family residential construction loans rose 1.7% year‑over‑year, marking a second consecutive YoY gain. Nonaccrual and...
The Hidden Cost of Every Card Swipe – Understanding Interchange Fees
Interchange fees are the charges that a merchant’s bank pays to the card‑issuing bank for each card transaction, typically ranging from 0.2% to 2% of the purchase amount. In the European Economic Area, regulation caps these fees at 0.2% for...
PayPal’s New CEO Faces a Digital Payments Reckoning
PayPal announced Enrique Lores, the former HP chief who has overseen major supply‑chain and split‑up initiatives, as its new CEO and president. The appointment comes as the company’s branded checkout growth slumped to 1% year‑over‑year in Q4, far below the...
Shift4 Promotes Global Blue Execs
Shift4 Payments announced the promotion of two former Global Blue executives to senior leadership roles following its $1.5 billion acquisition of the Swiss payments‑technology firm. Pier Francesco Nervini will serve as president of Shift4’s international division, overseeing all commercial and go‑to‑market activities outside the...
Is RegTech Consolidation Creating New Platform Risks?
RegTech vendors are merging their offerings into larger, unified platforms that cover surveillance, reporting, identity and risk functions. Proponents argue that consolidation reduces operational fragmentation, delivers economies of scale, and strengthens security through enterprise‑grade infrastructure. Critics counter that platform concentration...
KBC Selects Taurus as Custodian for Crypto Trading Offering
KBC, Belgium’s largest insurance‑banking group, has appointed Geneva‑based fintech Taurus as its custody partner for a newly launched regulated crypto trading service. The offering, introduced in February, lets self‑directed investors buy and sell Bitcoin and Ether on an execution‑only basis....
Kazuo Ueda: The New Financial Ecosystem and the Role of Central Banks
At FIN/SUM 2026, BOJ Governor Kazuo Ueda outlined how AI and blockchain are reshaping the financial ecosystem and reaffirmed central banks' role as the anchor of trust. He highlighted the programmability of DeFi, the potential of AI‑driven analytics, and the...
Wells Fargo Chases Lead Bank Role for Middle-Market Clients
Wells Fargo is positioning itself as the lead bank for middle‑market companies, targeting firms with $10 million to $1 billion in annual revenue. The bank is revamping its product suite and coverage model while hiring 185 commercial bankers to deepen relationships early and...
Africa Leads the World in Stablecoin Adoption
According to BVNK and YouGov’s Stablecoin Utility Report, 79% of African crypto holders own or have recently held stablecoins—the highest rate globally and well above the 54% average. The survey of 4,658 respondents across 15 African countries shows 95% would...
Nigeria’s Prembly Launches Open-Source Database to Fight African Fraud
Prembly, a Nigerian digital‑security firm, has unveiled FraudLens, an open‑source fraud‑intelligence bank built on millions of identity‑verification checks. The platform aggregates fraud events from banks, fintechs and other partners, offering a publicly accessible repository that starts with Nigeria and aims...
The Fed Wants to Let a Dangerous Asset Loose on Bank Balance Sheets
The Federal Reserve has proposed three adjustments to how banks treat mortgage loans and mortgage servicing rights (MSRs) under capital rules. While the new loan‑to‑value risk‑weight buckets and a review of the 250% MSR risk weight align with Basel principles,...
New Briefing Note – Preparing for the FCA’s New Safeguarding Rules: A Countdown to 7 May 2026
The Financial Conduct Authority has issued final rules and guidance under Policy Statement 25/21 that overhaul the safeguarding regime for payments and e‑money firms. The new requirements take effect on 7 May 2026, compelling firms to redesign client‑asset segregation, capital buffers, and governance...
Hawk and Commerzbank Team up to Fight Financial Crime
Commerzbank has partnered with AI‑fraud specialist Hawk to boost its anti‑money‑laundering capabilities. The collaboration deploys Hawk’s “AML AI Extended Risk Model,” which layers explainable AI on top of the bank’s existing rule‑based compliance framework. Connected via a dedicated integration layer,...
Tandem Bank Names Finance Veteran as New Chair
Tandem Bank has named Stephen Jones, a veteran of UK banking, as its new chair. Jones currently serves as executive chair of investment banking at Panmure Liberum and previously held senior roles at Santander, Barclays, and UK Finance. He succeeds Paul Pester, who...
Clinton Alum Eugene Ludwig Courts Banks for Stablecoin Alternative
Eugene Ludwig, former Clinton cabinet official, founded Cari to create a bank‑centric network for tokenized deposits that are FDIC‑insured and faster than traditional transfers. The startup has secured five regional banks—KeyCorp, Huntington, Old National, First Horizon and M&T—as design partners...
Chiara Scotti: Programme for Strengthening the Central Bank Capacities in the Western Balkans with a View to the Integration to...
The European System of Central Banks has launched Phase III of an EU‑financed technical cooperation programme to strengthen central bank capacities in the Western Balkans. Hosted by Banca d’Italia, the initiative builds on two successful phases that delivered training, internships and...
State Bank of India Shuns Russian Crude Oil Payments Despite US Reprieve
State Bank of India (SBI) has refused to process payments for Russian crude oil even after the United States issued a temporary waiver for Indian imports. The bank cites uncertainty over the waiver's duration, potential sanctions exposure, and reputational risk...
Do You Need to Register as a Money Services Business?
The article outlines when a Canadian business must register as a Money Services Business (MSB) with FINTRAC, detailing the specific activities—foreign exchange, fund remittance, virtual‑currency dealing, and crowdfunding—that trigger regulatory oversight. It distinguishes domestic MSBs from foreign MSBs (FMSBs) and...
Hilco Expands Into Medium-Term Lending Market
Hilco has announced its entry into the medium‑term commercial real‑estate lending market, targeting loans with maturities of three to five years. The move is designed to capture growing investor demand for longer‑duration property financing that bridges the gap between short‑term...
Banks Struggle to Implement ISSB Sustainability Reporting Rules
A PwC‑IIF survey of 24 global banks managing over $18 trillion in assets shows near‑universal interest in the ISSB’s IFRS S1 and IFRS S2 standards, with 22 banks pursuing S1 and 23 pursuing S2. Yet most institutions are still building the data pipelines,...
TransUnion and Google Cloud Power AI‑Driven Credit Intelligence with New Analytics Agent
TransUnion has teamed with Google Cloud to launch an AI‑driven analytics agent that fuses TransUnion's credit data with Google’s Vertex AI and BigQuery services. The new solution delivers real‑time credit intelligence, cutting underwriting decision times by roughly half while boosting...
How Can Machine Learning Unlock Credit in South Africa
Access to credit remains elusive for most South African small businesses, with over 85% of firms earning under R1 million facing high rejection rates. A Forrester‑Experian study shows that 70% of senior lenders believe machine learning can improve risk accuracy and...
Banks Are Becoming Bulwarks Against Scams for Vulnerable Seniors
Elder financial exploitation continues to surge, with the FTC reporting $2.4 billion in losses in 2024 and AARP estimating $28 billion annually. A 76‑year‑old Rhode Island retiree narrowly avoided a $250,000 fraud after a bank teller escalated the case to police. In...