News Topic: Europe
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Small U.K. fintech going global on backs of Visa, Railsbank
In Plaid, European neobanks find an open banking passport
Visa agrees to buy open-banking platform Tink for $2 billion
European joint venture aims to boost crypto's appeal to banks
JPMorgan Chase, ACI to offer multichannel payments in Europe
Stripe takes aim at European business banking
Mastercard suffers legal setback in European interchange battle
The U.K. Supreme Court has rejected Mastercard’s attempt to force individual lawsuits over claims the card brand overcharged consumers and negatively impacted competition for more than a decade. ... Read full article
Equifax fine punches a hole in data security culture
The timing of the settlement serves as a warning to other companies of the risks they face in an increasingly data-focused economy. ... Read full article
Atlas' Diamond is wary of European banks, says U.S. prices too high
The former Barclays CEO turned bank investor said he sees more opportunity in smaller, newer banks. ... Read full article
Don’t drop the ball on trans-Atlantic cooperation
The U.S. and Europe should continue to harmonize their banking rules, including for foreign banking operations, just as they did in the wake of the financial crisis. ... Read full article
5 key takeaways from the FIS-Worldpay deal
Given the size of the deal — which includes about $9 billion of Worldpay’s debt on top of a $34 billion bid — the pressure’s on to build a global powerhouse that can counter other major fintech mergers announced in the past weeks. FIS must also emerge as a ... Read full article
Dimon says European banks need cross-border mergers to compete
European banks need to look beyond their home countries for mergers in order to tap the region's full economic power and become more competitive, JPMorgan Chase Chief Executive Jamie Dimon said. ... Read full article
Banks pivot toward greener finance in climate action push
Financial institutions are beginning to get on board with the global fight against climate change, but they are still trailing pension funds and insurance companies in putting these concerns into action. ... Read full article
Small banks are told they are targets for launderers
A money-laundering scandal at Denmark's largest bank has prompted increased regulatory scrutiny at larger banks, so criminals may try to filter dirty money at smaller institutions, a regulator warned. ... Read full article
Last-minute regs may compound balance-sheet woes of Europe's banks
The latest draft of EU securitization rules would ban securitization of loans where borrowers certified their own income, raising concerns about banks’ ability to unload roughly $1 trillion of nonperformers. ... Read full article
U.S. Bancorp scrambles to keep pace in payments field
Revenue growth in its merchant payments business is expected to be tepid in the foreseeable future. The Minneapolis company says it is looking to ramp up innovation to stay competitive in a business that has been upended by fintech firms and online ... Read full article