Banking

The Financial Conduct Authority (FCA) has revealed the second group of firms selected to participate in its AI Live Testing initiative, with eight companies, including Barclays, Experian, Lloyds Banking Group (Scottish Widows), and UBS, chosen to trial AI applications in real-world conditions.

JP Morgan has strengthened its UK retail banking operation by poaching Kunal Malani from Monzo, where he has served as chief banking officer since 2020. Mr Malani, a seasoned retail banker whose career includes stints at Barclays and HSBC, will now lead Chase UK, the Wall Street giant's digital bank

Chancellor Rachel Reeves is convening a summit with the heads of UK banks this Wednesday to address the economic fallout from the war in Iran. The Chancellor has invited executives from Barclays, HSBC, Lloyds, NatWest, Santander UK and Nationwide to the meeting, which will include figures such as Na

Anthropic is set to release its Mythos cybersecurity product to UK financial institutions within the coming week, following a period of intense regulatory engagement on both sides of the Atlantic.

Financial regulators and top UK banks are holding urgent talks over cybersecurity risks posed by Claude Mythos Preview, a new AI model from Anthropic capable of detecting vulnerabilities in critical systems that have gone undetected for decades. Officials from the Bank of England, the Financial Cond

Lloyds Banking Group has become what is believed to be the first FTSE 100 company to deploy a specialist artificial intelligence "board bot" in its boardroom, as the 260-year-old bank accelerates its transformation into what it describes as "the UK's biggest fintech".

A new joint report from Forbes and market research firm Statista has named Nationwide Building Society as the UK's top banking institution. The report, which surveyed over 54,000 people across 34 countries in 17 languages between October and November 2025, assessed institutions on five key criteria:

Lloyds Banking Group has completed the first-known experiment into how quantum computing could help to identify money mules, marking a major step in building the skills and technology needed to tackle economic crime in the future. Lloyds Banking Group conducted an experiment that focused on money mu

Revolut has delivered a landmark set of financial results, posting record gross profit of $2.3 billion (c. £1.7bn) for 2025 as the London-headquartered fintech giant continued its ascent.

HSBC is reportedly considering cutting up to 20,000 jobs globally as part of a medium-term restructuring plan that would see the bank lean heavily on artificial intelligence to reduce its headcount. According to Bloomberg, chief executive Georges Elhedery is exploring the use of AI to streamline bac

Customers of Lloyds, Halifax and Bank of Scotland were left alarmed after a technical fault caused their mobile banking apps to display the transactions of complete strangers.

A former manager at Royal Bank of Scotland's (RBS) controversial Global Restructuring Group (GRG) has pleaded guilty to bribery and extortion after accepting £274,811 in corrupt payments from customers in exchange for preferential treatment of their businesses. Stuart Holloway, 48, of Bury, Gr

Revolut Bank UK Ltd has received regulatory approval from the Prudential Regulation Authority (PRA) to exit the mobilisation phase, and launch as a bank in the UK.

Revolut has applied for a United States banking licence, marking a significant step in the fintech's long-standing ambition to crack the American market. The company confirmed on Thursday that it had submitted applications for a national bank charter to both the Office of the Comptroller of the Curr

HSBC shares climbed over 5% on Wednesday morning, reaching 1,362.80p and cementing its position as the UK's most valuable bank with a market cap of over £230 billion. This rally occurred despite a 7% decline in annual pre-tax profit, which fell to $29.9bn (c. £22.1bn) following $5bn (c.