LONDON, April 25, 2025 /PRNewswire/ — iFAST Global Bank (“iGB” or the “Bank”) is making new strides in UK banking with the launch of its unique Multi-Currency Current Account, an innovative solution that lets customers earn competitive interest rates on multiple currencies while enjoying rewards on everyday debit card spending.

With the iFAST Global Bank debit card powered by Visa, a global leader in digital payments, customers can spend seamlessly in the UK and around the world. The card’s unique numberless design, featuring no printed card number, CVV, or expiry date, provides an added layer of security, with all sensitive details securely managed within the mobile app.

“At iFAST Global Bank, our commitment to IT innovation drives us to deliver a seamless, fully digital onboarding experience through both our app and website. Complementing this is our dedicated digital customer service team, which is committed to offering prompt and efficient support, wherever our customers may be in the world. To make this possible, we need a partner with proven global reach and deep expertise. In Visa, we have found a partner supporting us in developing a secure, customer-focused product,” said Inayat Kashif, Acting CEO, Executive Director and Chief Technology Officer of iFAST Global Bank. 

Mathieu Altwegg, Senior Vice President, Products and Solutions, Europe at Visa, also commented: “At Visa, we’re pleased to support partners like iFAST Global Bank as they introduce their Multi-Currency Current Account to the UK market. This collaboration reflects our shared goal of enhancing innovation and providing greater choice, access, and value to customers.”

With iFAST Global Bank’s unique Multi-Currency Current Account, UK customers are empowered to grow their money while maintaining full access to their funds. The account offers competitive interest rates, including 3.50% AER (variable) on GBP, 1.50% AER (variable) on EUR, and 2.80% AER (variable) on USD, with no maximum interest caps.

With the Visa-enabled debit card, customers can also enjoy 2% cashback on up to £2,000 of spending per month. The offer is valid for a limited time period, subject to applicable terms and conditions. Unlike traditional accounts, the iFAST Global Bank Multi-Currency Current Account simplifies banking by eliminating the need to transfer funds between savings and current accounts. Designed as a customer-first, all-in-one solution, it provides UK customers with simplicity, convenience, and flexibility.

Why This Account Stands Out

• Unlimited High Interest: No minimum balance, no interest caps, maximising returns, on everyday balances backed by FSCS protection up to £85,000. 
• Multi-Currency Convenience: Effortlessly save, spend, and send money abroad across multiple currencies with competitive exchange rates.
• Global Payment Security: A multi-currency numberless Visa-enabled debit card, accepted in over 200 countries. With no printed card number, CVV, or expiry date, it offers enhanced security, with all details securely stored and managed in the mobile app. 
• Digital Customer Service: Get timely support via Live Chat and Live Call over the Internet, eliminating the need to dial a phone number, even when overseas. Available 7 days a week during office hours.

Headquartered in London, iFAST Global Bank is the global digital banking arm of Singapore-based iFAST Corporation. The Bank ensures the security of customer deposits, with protection of up to £85,000 under the FSCS scheme. Recognised for its excellence, the bank was recently named Moneyfacts Highly Commended App-Only Savings Provider of the Year 2025 and Commended for Best Customer Service. Demonstrating strong financial performance, iFAST Global Bank achieved profitability in 4Q2024 and surpassed S$1 billion in customer deposits as of end-December 2024, a significant milestone in its growth trajectory.

About iFAST Corporation & iFAST Global Bank

iFAST Corporation is a global digital banking and wealth management platform, with assets under administration of S$25.01 billion as at 31 December 2024. Established in 2000, it operates in Singapore, Hong Kong, Malaysia, China, and the UK. iFAST Global Bank is a fully licensed UK bank, offering multi-currency deposits, payment services, and remittance solutions. Regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), the Bank is a direct member of the Bank of England Faster Payment Scheme, Clearing House Automated Payment System (CHAPS) and SWIFT.

For more information, visit www.ifastgb.com

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Media Contact:
Rachelle Au-Yeung | (+44) 7793 469015 | rachelle.auyeung@ifastgb.com / corpcomms@ifastfinancial.com

All brand names, logos and/or trademarks are the property of their respective owners, are used for identification purposes only, and do not necessarily imply product endorsement or affiliation with Visa.

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SHANGHAI, April 25, 2025 /PRNewswire/ — ChangAn Automobile (“ChangAn” or “the Company”), an intelligent low-carbon mobility technology company, showcased its latest achievements in innovative technology, brand upgrades, and sustainable development at Auto Shanghai 2025 under the theme “Together for a Smarter World”. The Company invited nearly 600 domestic and international media outlets and over 500 global partners to Shanghai to explore a shared future vision.

On the first day of the show, ChangAn hosted a series of major press conferences and briefings. The Company showcased models from its three major brands — CHANG-AN, DEEPAL, and AVATR — each highlighting its unique strengths. ChangAn officially announced the pricing and specifications of the Q07, positioning it as a vehicle offering comfortable, worry-free driving experience. The DEEPAL brand, aimed at younger consumers, debuted the full-size SUV S09. Meanwhile, the AVATR 06 drew the spotlight, aiming to redefine the luxury electric vehicle standard with advanced design and assisted driving technology — a smart vehicle designed to understand its driver.

During the exhibition, media participated in interactive showcases, such as riding in the CHANG-AN E07 equipped with the Intelligent TH Chassis to experience leaf- and snow-shaking movements synchronised with music. These features highlighted ChangAn’s SDA digital platform and its advancements in smart perception. Attendees also engaged with robotic dogs and humanoid robots, demonstrating the Company’s breakthroughs in intelligent technology and multi-scenario applications. Additionally, ChangAn’s Intelligent TS Drive, Intelligent TY Cockpit, and BlueCore 3.0 were also showcased, pushing its intelligent capabilities to new heights.

In his keynote at the 2025 conference, Zhu Huarong, Chairman of ChangAn Automobile, global sales rose 34.2% to 2.684 million vehicles in 2024, with 735,000 new energy vehicles and 536,000 sold internationally. At the conference, Li Mingcai, Executive Vice President of ChangAn Automobile, highlighted key global milestones. The Company launched its first international NEV manufacturing base in Thailand and developed eight overseas production partnerships, reaching a capacity of 580,000 units. In 2024, ChangAn ranked among China’s top three auto exporters, with over 500,000 vehicles sold internationally and revenue surpassing $11 billion. The brand expanded into 20 new countries, entering over 100 globally, and now operates 1,150 sales channels. “This year, we will accomplish the setup and of the Middle East, Australian and UK subsidiary, and accelerate operations in high-potential markets such as Europe, Brazil, Australia, Indonesia, and we will have 10 regional business entities by 2025.” said Mr. Li.

ChangAn continues its push to become a world-class brand, with a strong focus on technological innovation. Mr. Wang Xiaofei, Executive Vice President of ChangAn, shared with the media that the Company has invested more than 40 billion yuan over the past decade in three core new energy areas. Over the next decade, the Company will invest more than 200 billion yuan into future automotive tech, expand its R&D team by 10,000 and develop intelligent car robots and flying cars — with flight tests expected by year-end.

While pursuing high-quality corporate development, ChangAn Automobile has also deeply embedded sustainability into its strategy and operations. In April 2025, the Company released its 2024 ESG Report, highlighting its work in green ecosystems, products and services, and community partnerships.  In 2024, ChangAn’s new energy vehicle sales reached 735,000 units, cutting carbon emissions by 5.5 million tons throughout its life cycle, equivalent to planting 10,000 hectares of trees, and contributing to the development of a new low-carbon ecosystem through green transformation.

“Looking ahead, ChangAn will steadfastly advance our Vast Ocean Plan, enabling more global users to enjoy intelligent, high-quality, and high-efficiency green ChangAn.” said Mr. Li.

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In today’s rapidly evolving financial landscape, staying abreast of the latest developments in fintech is not just an advantage—it’s imperative. From blockbuster profit milestones to seismic collapses, and from talent wars in U.S. banking hubs to pioneering academic–industry collaborations in Hong Kong, April 24, 2025, offers a whirlwind of insights. In this edition of Fintech Pulse, we dissect five pivotal stories, offer opinion-driven analysis, and explore the broader industry implications.

1. Revolut’s Profit Bonanza: Mainstreaming the Super-App

What happened:
British fintech unicorn Revolut announced a record pre-tax profit of £1.1 billion ($1.46 billion) for the year ending December 31, 2024—up 149% year-on-year—on revenues of £3.1 billion, a 72% increase over 2023.

Why it matters:
Revolut’s profit surge marks its transformation from a niche currency-exchange app into a full-blown digital bank aiming for global scale. Having secured a UK banking license after a protracted three-year approval process, it now seeks to expand into lending products—credit cards, personal loans, and mortgages—to capture a larger share of customers’ financial lives.

Analysis & Commentary:
In my view, Revolut’s results underscore a broader trend: “super-apps” consolidating diverse financial services under one roof. Crypto trading and wealth management now account for a significant slice of profits, but true differentiation will come from how seamlessly Revolut integrates lending. As traditional banks shutter branches, fintech challengers can accelerate customer acquisition—but must manage credit risk carefully to avoid overextension. I believe regulators will keep a close watch on how Revolut scales its loan book, especially given its 86% year-on-year increase in customer lending balances to £979 million.

Source: CNBC

2. Stenn’s Implosion: A Cautionary Tale in Trade Finance

What happened:
Trade-finance fintech Stenn Technologies, once touted as a $1 billion rising star, collapsed into administration last December, leading to the loss of most of its 200 jobs. Investigations revealed that major banks—including Citigroup and BNP Paribas—backed deals they barely vetted, missing warning signs as weekly deal summaries ballooned to nearly $1 billion in size.

Why it matters:
Stenn’s collapse highlights persistent due-diligence gaps in trade finance. As fintechs promise speed and efficiency, established banks must not sacrifice risk controls for deal flow. The fallout eroded confidence and may prompt stricter counterparty assessments industry-wide.

Analysis & Commentary:
I argue that this episode is symptomatic of a “too eager to lend” mindset. In an environment of slackening yields, large banks pursued yield-rich fintech credit lines, only to face unexpected defaults. Going forward, I expect banks to re-evaluate their fintech partnerships, incorporating more robust real-time monitoring and third-party risk assessments. Stenn’s demise should catalyze the adoption of blockchain-based trade-finance platforms that embed transparency and immutable audit trails. Until then, caution remains the watchword.

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Source: Bloomberg

3. Coinbase’s Southern Pivot: The Talent Play

What happened:
Coinbase, the largest U.S. cryptocurrency exchange, is targeting Charlotte, North Carolina, for a major talent investment—adding over 130 employees to its compliance and customer-support teams and potentially scaling to 1,000 new U.S. hires this year.

Why it matters:
Charlotte has long been a banking powerhouse, but its rising pool of tech talent makes it an attractive fintech hub. Coinbase’s move signals a shift in talent strategy: “meet talent where they are,” rather than concentrate in coastal tech camps.

Analysis & Commentary:
In my assessment, spreading operational centers beyond saturated markets is a savvy cost and culture play. By embedding in Charlotte, Coinbase gains access to experienced banking professionals and benefits from lower cost structures. However, maintaining a cohesive company culture amid geographic dispersion will be a challenge. Remote-first models must be balanced with local engagement to foster innovation. I anticipate other crypto players following suit, seeking a “hybrid hub” approach across U.S. secondary cities.

Source: Axios

4. Omnea’s eProcurement Crown: The Automation Imperative

What happened:
Procurement orchestration platform Omnea clinched the “Best Overall eProcurement Software” award at the 2025 FinTech Breakthrough Awards, recognized for its AI-driven intake, deduplication, and end-to-end automation.

Why it matters:
Procurement remains a pain point for enterprises—manual approvals, fragmented tools, and shadow processes lead to inefficiencies and maverick spending. Omnea’s win spotlights a surging wave of procurement fintech aimed at centralizing workflows, enforcing policies, and integrating with ERP ecosystems.

Analysis & Commentary:
I believe Omnea’s approach exemplifies the next frontier of “invisible finance”—embedding financial controls directly into business processes via Slack, Teams, or web portals. By surfacing policy-aligned choices and automating renewal reminders, companies can mitigate risk and free strategic buyers from administrative drudgery. Given Omnea’s backing by Spotify, Wise, and Pleo post-Series A, it’s clear that market demand for frictionless procurement tools is accelerating. Expect consolidation as ERP vendors scramble to embed or acquire these specialized platforms.

Source: FinTech Breakthrough

5. HKIAS Workshop: Bridging AI and Fintech Frontiers

What happened:
The Hong Kong Institute for Advanced Study (HKIAS) at City University of Hong Kong hosted a “Mini Workshop on AI and Fintech” featuring Professors David D. Yao, Houmin Yan, and Guangwu Liu. Key presentations covered emission-trading risk hedging, AI-driven credit-risk management for Amazon seller financing, and automated market-making research.

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Why it matters:
Academic–industry collaboration is vital for next-generation fintech innovation. By tackling real-world challenges—carbon cost integration, dynamic hedging, AI credit scoring, and automated trading—researchers and practitioners can co-develop solutions that scale globally.

Analysis & Commentary:
I contend that Hong Kong is positioning itself as a “Fintech Alpha Node” for Asia, leveraging top-tier academics to incubate disruptive ideas. The workshop’s focus on tokenized clean-energy assets and AI for credit decisions signals where investment dollars will flow: sustainable-finance fintech and machine-learning risk engines. As regulatory sandboxes in Hong Kong and beyond open, such cross-pollination workshops will be the crucible for breakthrough products.

Source: Newswise

Conclusion: Charting the Course Ahead

Today’s headlines—from Revolut’s meteoric profit to Stenn’s cautionary collapse, and from Coinbase’s talent migration to Omnea’s automation triumph, capped by HKIAS’s academic symposium—paint a vivid picture of an industry in flux. Key themes emerge:

1. Super-App Evolution: Fintechs are racing to embed a full suite of services—lending, trading, payments—blurring lines with incumbent banks.

2. Risk Control Reboot: Collapses like Stenn’s will drive banks to reinforce due diligence and embrace transparent, blockchain-backed workflows.

3. Talent Democratization: The coastal tech epicenters are ceding ground; remote and regional hubs are powering the next wave of fintech innovation.

4. Invisible Finance & Automation: Real-time, AI-driven tools are automating procurement and credit decisions, embedding controls directly into workflows.

5. Academic–Industry Fusion: Workshops bridging theory and practice are critical to solving complex challenges—from ESG-linked assets to automated trading.

As we digest these developments, one thing is clear: fintech’s pulse is strong, but its beat demands constant vigilance, adaptability, and a thirst for innovation. Join me tomorrow for another briefing—because in fintech, today’s news is tomorrow’s roadmap.

The post Fintech Pulse: Your Daily Industry Brief – April 24, 2025 (Revolut, Citigroup, BNP Paribas, Coinbase, Omnea, HKIAS) appeared first on News, Events, Advertising Options.