CYBG, Dealogic, Metro Bank, Barclays, Centtrip and Transferwise
- CYBG is planning to launch a new service in May 2018 allowing users of its B smartphone app to access new open banking technology and see their accounts with other lenders. The B app is used by around 150,000 people
- Dealogic study has found that European banks have raised half of their market value in new equity from investors over the past decade. Banks have raised around half a trillion euros in equity to recapitalise themselves since the start of 2008
- Metro Bank has announced the release of an AI-powered money management service called Insights. The service, developed with Personetics, will be available through the bank’s app to all personal customers this summer.
- Barclays has been advised by Edward Bramson, the activist investor, that it should look to divest its large trading business to free up £60bn of risk-weighted assets to invest in other business
- Centtrip has launched Centtrip Now, which enables multinational companies to make local and international payments in 15 different currencies, with transactions settled in seconds with no fee
- Cifas has reported that cases of identity fraud increased by 1% year-on-year to 174,523 in 2017. Eight out of 10 fraudulent applications were made online, and more than a third of bank account takeover victims were over 60-years-old
- TransferWise has become the first non-bank direct member of the UK’s Faster Payment scheme
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