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Tesco Bank Responds to Final CMA Current Account Market Investigation Report.
Responding to the Competition and Market Authority’s final decision on remedies for the current account market, Tesco Bank Chief Executive Benny Higgins commented:
“While the CMA has made some positive proposals, we don’t believe they will have an impact in the short to medium term to help millions of customers get a better deal from their bank. Throughout this process, we have argued that transparency and comparability are key to helping customers understand their current account, and we have long argued that simple measures are required to increase consumer engagement in the market.
“Customers have a right to know what they are paying for their bank account and what they receive in return. We continue to believe that if that information was readily available far more customers would switch accounts. For example, we are the only UK bank to advocate the introduction of an at-a-glance comparison traffic light label to help customers quickly and easily compare accounts and make an informed decision on whether to keep or switch accounts.
“In the coming months we will consider and reflect on the changes proposed by the final conclusion of the CMA, while also considering broader market conditions to ensure we serve customers to the best of our ability.”
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More than half (59%) of Brits admit that they’ll use AI to help with their tax return
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WorkFusion, a pioneer in AI agents for financial crime compliance (FCC), today announced it raised $45 million in funding.
AI-Powered E-commerce, Stablecoins and Local APMs: Emerging Trends Headline EBANX’s Payments Summit in Mexico
How could AI agents search, compare and pay for things? What makes stablecoins a game-changer for cross-border digital commerce? Why are local Alternative Payment Methods (APMs) crucial for any business wanting to enter and scale in emerging markets?
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United Gulf Financial Services Joins The Hashgraph Association and Exponential Science Foundation Adding $1M to Hedera Africa Hackathon Pool Prize
United Gulf Financial Services (UGFS North Africa), a leading venture capital firm offering innovative companies and startups with financial support and mentoring services, has announced a partnership with The Hashgraph Association, a Swiss non-profit organization driving global adoption of Hedera-powered solutions by funding innovation, training, certification, and venture building programs, and Exponential Science Foundation, a not-for-profit foundation accelerating responsible tech adoption, via research, education, and innovation activities, for Hedera Africa Hackathon 2025, the biggest hackathon in Africa aimed at enabling the next generation of Web developers and empower economic inclusion in Africa with a digital future for all.
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