Finextra's year in review

Finextra’s year in review

With 2024 drawing to a close, we take a look back at our most popular news items and community engagement activities over the course of the past year.

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Top news stories of 2024

January

HSBC to take on Wise with launch of money transfer app

HSBC is looking to take on money transfer behemoth Wise with the launch of a global currency conversion app.

February

Temenos shares plunge on damning report

Shares in Swiss core banking vendor Temenos have plunged, after Hindenburg Research shorted the company alleging “accounting irregularities, failed products and an illusive turnaround”.

March

Monzo mafia form startup to make coders extinct

The Monzo mafia are back in business, with former co-founder Jonas Templestein and ex-VP of architecture Oliver Beattie on the hunt for funds for a new startup that aims to build generative AI coding tools.

April

Lloyds Bank cuts risk dept headcount

UK high street bank Lloyds Bank is reducing the size of its risk management department because it is seen as a “blocker” to the bank’s “strategic transformation”.

May

Visa unveils suite of new products for the digital age

Visa has unveiled a suite of new digital-first products and services that it claims will revolutionise the card and address the future needs of businesses, merchants and consumers and the financial institutions that serve them.

June

Apple launches Tap to Cash

Apple has unveiled a Tap to Cash feature that lets people send each other money simply by tapping their iPhones.

July

Banks and payments hit as faulty CrowdStrike update causes global Microsoft outage

Banks and card payment systems are among the victims of the worldwide tech outage on Microsoft platforms.

August

Swiss banks turn on instant payments system

Consumers in Switzerland can now send and receive payments in seconds following the market launch of instant payments across the banking industry.

September

Citi COO shares responsibility for data overhaul following $136 million fine

Citigroup is stripping chief operating officer Anand Selva of his full responsibility for data compliance after the bank was hit with $136 million in fines for its failure to address long-standing deficiencies in risk management and data governance.

October

Revolut tops fraud leaderboard by a country mile

The BBC has found that Revolut was named in more reports of fraud in the last financial year than any of the major High Street banks.

November

Barclays Bank in talks over giving away 80% stake in merchant acquiring business

Barclays Bank is understood to be in discussions with Brookfield Asset Management about giving up 80% of its merchant acquiring arm.

December

EPI enrolls 14 million users to wero wallet

The European Payment Initiative, a bank-backed venture that was initially set up to build a rival to Mastercard and Visa in Europe, has enrolled 14 million users and processed eight million transactions since launch.

Most commented

UK Payments Association calls on new PSR chief to delay APP fraud rules

PSR to cut APP reimbursement limit to £85,000

Chase stops customers using credit cards to make BNPL instalment payments

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