Banking & Finance

Klarna raises $650m funding at $10.6bn valuation

Klarna has closed its $650 million in an equity funding round, at a post money valuation of $10.65 billion. The Swedish-based buy now, pay later (BNPL) firm has doubled its value which was previously set at $5.5 billion just over a year ago. The valuation ranks Klarna as the highest-valued …

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AFME: EU must focus regulatory efforts on emerging technology

The European Union needs to focus on innovation and new technology, including cryptocurrency, AI, and the cloud, to boost development and innovation in the capital markets sector. That’s according to a report from the Association for Financial Markets in Europe (AFME), which has called on the EU to focus its …

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Elevations Credit Union selects Temenos Infinity for front office revamp

Colorado-based Elevations Credit Union has selected Temenos and its Infinity system, deploying it on a hosted basis. Elevations holds more than $2 billion in assets Temenos says its system will streamline processes for the credit union. It adds Elevations can provide “differentiated” member experiences on mobile and online. Elevations Credit …

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Fraudsters rake in £58m during COVID-19 by impersonating banks

Impersonation scams in the UK increased by 84% in 2020 as fraudsters sought to exploit confusion around the COVID-19 pandemic. UK Finance says criminals have changed tactics due to COVID-19 According to UK Finance, its members reported 15,000 cases between January and June 2020. Criminals raked in more than £58 …

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Emirates NBD deploys new payments hub with TCS Bancs

UAE-based Emirates NBD has gone live on a new payments solution from Tata Consultancy Services (TCS). The new hub will operate across six countries The bank has deployed TCS Bancs for Payments to transform its processing in six different countries. The system went live following an implementation programme kicked off …

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