Finextra's year in review

finextra.com:

Top news stories of 2023

January

Universal Digital Payments Network launched at Davos

A Universal Digital Payments Network (UDPN) for stablecoins and Central Bank Digital Currencies (CBDCs) was launched at the World Economic Forum (WEF) in Davos. The network aims to provide interoperability between these digital currencies.

February

Klarna reports $1 billion loss

Swedish buy now, pay later giant Klarna continues to bleed red ink, posting a $1 billion loss for 2022, 47% up from a $680 million loss in 2021.

March

FCA takes aim at payment firms over 'unacceptable' risks

The Financial Conduct Authority has written to nearly 300 payment companies warning that it will shut them down if they do not take prompt action to address "unacceptable" risks to consumers and financial system integrity.

April

JPMorgan Chase boss Dimon hails 'groundbreaking' AI

JPMorgan Chase has more than 300 AI use cases in production, CEO Jamie Dimon has revealed, calling the technology "extraordinary and groundbreaking".

May

Revolut UK chief told customer he would be waiting for him with a shotgun

Revolut is investigating complaints that its former UK head accidentally texted an irate customer to say he would be waiting for him 'in the garden with my shotgun'.

June

Banks are becoming "museums of technology" says ex-Barclays boss

Ex-Barclays boss Antony Jenkins has decried banks as "museums of technology" who have failed to properly embrace true digital transformation and are consequently shedding huge numbers of customers to more nimble tech-first rivals.

July

Apple's Tap to Pay arrives in the UK with Revolut and Natwest first out of the gate

Revolut has rolled out Apple's Tap to Pay on iPhone for business and freelance customers in the UK,