AGP Executive Report
Last update: 5 hours agoPayments: Brite Payments has launched Pay by Bank in the UK after securing an FCA electronic money licence, adding a new option in a market where most card payments still run through Visa or Mastercard. Fintech deals: Intuit has agreed to buy London-founded Sequence for a reported $200 million, bringing its AI-powered revenue management tools to QuickBooks and other business software. Mortgage lending: The Bank of England has scrapped its cap on high loan-to-income mortgages, giving lenders more scope to offer larger loans. Bank tax debate: The IMF has warned against raising taxes on banks ahead of the Budget; one estimate suggests a proposed levy could cost the Treasury £700 million a year in lost revenue. Crypto rules: The FCA has finalised guidance on which crypto activities fall within its regulatory remit, ahead of firms’ authorisation applications. Cyber resilience: The Bank of England is pressing lenders to strengthen recovery plans as AI-powered cyber threats grow, while G7 leaders plan finance-sector cyberattack drills.
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