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Prepaid card delay leaves asylum seekers ‘near destitution’
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Prepaid card delay leaves asylum seekers ‘near destitution’

Thousands of asylum seekers in the UK have been left without access to money they are entitled to from the government because of issues with a prepaid card provider, say charities. The Home Office gives asylum seekers £39.63 a week via a prepaid card, called an Aspen card. Late last month, the contract to administer...

HSBC UK launches fraud awareness app for businesses
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HSBC UK launches fraud awareness app for businesses

HSBC has launched a fraud awareness app to provide businesses with up-to-the-minute news on emerging scams. As well as sending users notifications on new scams and fraud tactics, the free app also includes advice and tips on how to avoid falling victim to fraud and provides real-life stories from customers. Peter McIntyre, head of small...

Synctera raises $33m to connect community banks and fintechs
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Synctera raises $33m to connect community banks and fintechs

Synctera, a startup that helps connect community banks and emerging fintechs, has raised $33 million in a Series A funding round led by Fin VC and joined by Mastercard. Gaingels, Lightspeed Venture Partners, Diagram Ventures, SciFi Ventures, and Scribble Ventures joined the round, as did angels including Omri Dahan (CRO, Marqeta), Nuno Sebastiao (CEO, Feedzai),...

Standard Bank opens digital shopping mall for corporate clients
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Standard Bank opens digital shopping mall for corporate clients

Johannesburg-based Standard bank has launched an online shopping mall and developer network through which corporate clints can discover and procure digital tools and services developed by the bank and its network of partners. Dubbed OneHub, the online marketplace provides a single point of entry to a range of digital tools and services – beginning with...

HSBC and ING invest in BNPL firm Divido
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HSBC and ING invest in BNPL firm Divido

White label buy now, pay later player Divido has raised $30 million in a Series B funding round led by HSBC and ING. Sony Innovation Fund by IGV, SBI Investment, OCS, Global Brain and DG Daiwa Ventures, DN Capital, Dawn Capital, IQ Capital and Amex Ventures joined the round. Divido’s platform connects lenders, merchants and...

Standard Chartered and BC Group plan European digital asset trading platform
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Standard Chartered and BC Group plan European digital asset trading platform

Standard Chartered is joining forces with BC Technology Group to build a digital asset brokerage and exchange platform for institutional and corporate clients in the UK and Europe. The bank’s SC Ventures unit is working with the digital asset company on the JV, which will connect institutional traders to counterparties across markets, delivering access to...

Rapper A$AP Rocky becomes Klarna CEO for the day
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Rapper A$AP Rocky becomes Klarna CEO for the day

American rapper A$AP Rocky has become a shareholder of buy now, pay later firm Klarna, and assumed the mantle of CEO for a day. Rocky, whose real name is Rakim Mayers, took over the reins from incumbent CEO Sebastian Siemiatkowski on 1 June, with a mission to curate exclusive content in the Klarna shopping app...

NatWest expects just 13% of staff to return to the office full-time
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NatWest expects just 13% of staff to return to the office full-time

NatWest expects just 13% of staff to work from the office full-time, as it lays out expectations for a post-pandemic working environment. As reported by Reuters, the bank has outlined a three-tier working plan in which some staff will – typically data centre operatives and branch staff – will be expected to commute into work...

ClearBooks joins new Revolut-built embedded finance marketplace
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ClearBooks joins new Revolut-built embedded finance marketplace

Accounting software provider ClearBooks is to be the first third party application to join a new business marketplace built by Revolut to house apps embedded with its own financial services capabilities. Under the partnership, Clear Books has been able to embed payments creation functionality directly into its accounting and payroll software without having to be...

Goldman Sachs leads $45 million round in AutoRefi
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Goldman Sachs leads $45 million round in AutoRefi

Goldman Sachs has led a $45 million funding round in auto finance specialist MotoRefi. MotoRefi works directly with credit unions to enable consumers to refinance their auto loans, saving them an average of $100 a month on their car payments. Goldman Sachs led the round, joined by new investor IA Capital and return investors Moderne...