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PSR Confirms Its Decision on APP Scams Reimbursement
Today, the PSR has confirmed the maximum reimbursement limit for victims of Authorised Push Payment (APP) scams starting from 7 October. Having given careful consideration to all the feedback and information received, the PSR board has decided that the maximum reimbursement limit for Faster Payments will be £85,000.
The PSR’s requirements will provide world-leading protections to people who fall victim to scams – with over 99% of APP claims covered by the reimbursement cap. It will also give firms strong financial incentives to continue to make improvements to their fraud prevention controls.
This was a carefully balanced decision – which provides significant protection to fraud victims and strikes an appropriate balance having regard to the PSR’s innovation and competition objectives and making sure that payment systems work well for everyone. A final policy statement to explain the reasoning for the decision will be published next week.
The regulator is making this short announcement today to ensure everyone is clear on its decision and to provide clarity on the limit prior to the reimbursement requirements coming into effect on 7 October, supporting their implementation, so that people benefit from the protections from that date.
The Bank of England, as the operator of CHAPS, has carefully considered the feedback made in relation to CHAPS as part of the same consultation. The Bank has decided that the maximum reimbursement for CHAPS will be £85,000. In making this decision, the Bank has given weight to the benefits to industry and consumers of having consistency of limits across the two payment systems. The Bank is committed to reviewing this limit within 12 months.
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FinTech Australia is calling on the Federal Government, as part of its 2026–27 Pre-Budget Submission, to broaden its procurement pipeline to better include fintechs and small and medium businesses. In addition, to recalibrate existing funding mechanisms – including venture capital tax concessions, superannuation settings and the Research and Development Tax Incentive – to create stronger, more predictable funding pathways for emerging fintechs.
TransUnion CIBIL and State Bank of India’s YONO App Collaborate to Integrate CIBIL Score and Report Into Everyday Digital Banking
TransUnion CIBIL, India’s leading credit information company, today announced the integration of the consumer CIBIL Score and Report into State Bank of India’s (SBI) You Only Need One (YONO) app. Seamless incorporation of the score and report allows the bank’s customers to securely access and monitor their CIBIL Score and wider credit information when they use the app. The integration also includes report analysis, ‘Frequently Asked Questions’ and gamified learning to understand the credit score process. In addition, the CIBIL Score Simulator feature in the app will help customers simulate different credit scenarios such as opening or closing loan accounts and credit cards, late payments, clearance of credit card dues, new enquiries among others, to assess and understand the implications for their CIBIL Score.
Tabadulat & Minted Connect Sign Strategic Collaboration to Enable Shariah-Compliant Gold-Backed Investments
Tabadulat Limited (Tabadulat), the UAE-based Shariah-compliant investing and brokerage platform regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), and Minted Connect FZCO (Minted Connect), a DMCC-authorised precious metals as a service and digital assets company, today announced the signing of a strategic collaboration to provide institutional access to Shariah-compliant, gold-backed investment instruments.
TransferMate Completes Global Rollout of Vivox AI’s Next Generation KYB Automation
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IG Launches Integrated Campaign to Reposition Platform for a New Generation of Switched-on Investors
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The Hashgraph Group announces the launch of TrackTrace for Compliance with EU’s Digital Product Passport (DPP) Regulation
The Hashgraph Group (THG), the Swiss-based Web3 and AI technology engineering company operating within the Hedera ecosystem, has today announced the launch of TrackTrace, deployed as a fully managed enterprise-grade solution that transforms and enhances global supply chain transparency through real-time tracking of products from origin, ethical sourcing, and carbon emissions data.
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FinTech Australia Urges Government to Open Procurement Pipeline and Fix Funding Settings for Fintechs
FinTech Australia is calling on the Federal Government, as part of its 2026–27 Pre-Budget Submission, to broaden its procurement pipeline to better include fintechs and small and medium businesses. In addition, to recalibrate existing funding mechanisms – including venture capital tax concessions, superannuation settings and the Research and Development Tax Incentive – to create stronger, more predictable funding pathways for emerging fintechs.
TransUnion CIBIL and State Bank of India’s YONO App Collaborate to Integrate CIBIL Score and Report Into Everyday Digital Banking
TransUnion CIBIL, India’s leading credit information company, today announced the integration of the consumer CIBIL Score and Report into State Bank of India’s (SBI) You Only Need One (YONO) app. Seamless incorporation of the score and report allows the bank’s customers to securely access and monitor their CIBIL Score and wider credit information when they use the app. The integration also includes report analysis, ‘Frequently Asked Questions’ and gamified learning to understand the credit score process. In addition, the CIBIL Score Simulator feature in the app will help customers simulate different credit scenarios such as opening or closing loan accounts and credit cards, late payments, clearance of credit card dues, new enquiries among others, to assess and understand the implications for their CIBIL Score.
Google on Building Secure Foundations for Fintech Growth
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Tabadulat & Minted Connect Sign Strategic Collaboration to Enable Shariah-Compliant Gold-Backed Investments
Tabadulat Limited (Tabadulat), the UAE-based Shariah-compliant investing and brokerage platform regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), and Minted Connect FZCO (Minted Connect), a DMCC-authorised precious metals as a service and digital assets company, today announced the signing of a strategic collaboration to provide institutional access to Shariah-compliant, gold-backed investment instruments.
TransferMate Completes Global Rollout of Vivox AI’s Next Generation KYB Automation
TransferMate, the world’s leading provider of embedded B2B payments infrastructure, has completed a full global rollout of Vivox AI’s trusted, explainable AI agents as its new Know Your Business (KYB) automation platform.
IG Launches Integrated Campaign to Reposition Platform for a New Generation of Switched-on Investors
Investing and trading platform, IG, has unveiled a new integrated UK marketing campaign as part of its broader brand repositioning, aimed at redefining how the FTSE 250 fintech engages today’s digitally native, self-directed investors.
The Hashgraph Group announces the launch of TrackTrace for Compliance with EU’s Digital Product Passport (DPP) Regulation
The Hashgraph Group (THG), the Swiss-based Web3 and AI technology engineering company operating within the Hedera ecosystem, has today announced the launch of TrackTrace, deployed as a fully managed enterprise-grade solution that transforms and enhances global supply chain transparency through real-time tracking of products from origin, ethical sourcing, and carbon emissions data.