The Artificial Intelligence (Regulation) Bill that I introduced was making pleasing progress. I had managed to get the Bill through all House of Lords stages and it was teed up for its passage through the Commons, when, somewhat unexpectedly, on a rainy, otherwise unremarkable Wednesday last month, a General Election was called. A quick refresh…
Proposed AI Bill scuppered by general election – so what comes next? Read More »
The rate of cyber fraud dropped slightly over the first six months of 2023, falling 2% compared to the same period in 2022, but even so criminals and fraudsters still managed to steal approximately £580m via both authorised and unauthorised fraud during the period, according to UK Finance’s latest half-yearly report. At the same time,…
UK Finance paints mixed picture of fraud as losses top £500m Read More »
Perhaps the headline of this article holds a little hyperbole but, not so much. The law I’m referring to is the Electronic Trade Documents Act which comes into force today (20 September). The reason I make such a big claim for this slight yet significant statute is because across the UK, and around the world,…
The most important law you’ve never heard of – the Electronic Trade Documents Act Read More »
Some 17 billion contactless payments were made in the UK last year, a 30% increase on the previous year, with 87% of people using the technology at least once a month, according to the latest figures from banking industry body UK Finance. The average value of contactless payments also increased. In 2022, a total of…
Number of UK contactless payments rose by 30% last year Read More »
Investment in fintech across Europe fell by 70% in the first six months of this year, with “more pain” expected for the sector as investors take a more disciplined approach. But a more mature and sustainable future lies ahead, finds fintech report. According to a report from Finch Capital, the European fintech market’s total investment –…
European fintech investment plummets, but more sustainable future lies ahead Read More »
Mastercard and Fintech Saudi have signed an agreement which could boost a core part of the Gulf state’s high-tech vision of the future. The deal supports Saudi Arabia’s Vision 2030 strategy, which aims to create a vibrant society, a thriving economy and an ambitious nation, which includes developing a fintech sector. According to the most recent…
Payments fintech Klarna is providing its employees with access to OpenAI’s enterprise version of ChatGPT in a bid to enable them to better support its 150 million users of its payments services. The enterprise version of the generative artificial intelligence (AI) technology, ChatGPT Enterprise, promises enterprise-grade security to reassure businesses concerned about their data. Klarna…
Thousands of Klarna staff access ChatGPT Enterprise Read More »
Over 11 million UK payments were made using open banking technology in July, more than double the number during the same month last year. According to the latest figures from Open Banking Limited, there were 11.4 million open banking payment transactions, representing 9.3% increase on the previous month and 102% growth compared to the same…
UK small and medium-sized enterprises (SMEs) are investing nearly half of their annual turnover on technology to counteract rising costs and retain competitiveness, according to the latest Barclays Business Barometer. According to the bank’s research, the most innovative SMEs in the UK are spending 48% of annual revenue on technology, with 45% doing so to…
Innovative UK SMEs spend half of turnover on tech Read More »
TSB has opened applications for its latest fintech programme in partnership with Fintech Scotland, with up to 20 successful startups given an opportunity to become an official supplier to the bank. The annual TSB Innovation Labs programme, which is hosted in TSB’s Edinburgh-based technology centre, is in its third year. This year’s applicants are encouraged…
TSB and Fintech Scotland lab open for applications Read More »
