Finextra's year in review
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,
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