Finextra's year in review

finextra.com:

Top news stories of 2022

January

JPMorgan Chase to spend $12bn on tech this year

JPMorgan Chase will spend more than $12 billion on technology in 2022, contributing to an eight per cent rise in expenses that could hurt the bank's profitability targets.

February

Klarna losses swell to $748 million

BNPL giant Klarna has reported soaring operating losses of $748 million for the full year 2021, driven by expansion to fresh markets and the challenges of underwriting a massive inflow of new customers.

March

EPI abandons plan for Visa and Mastercard rival as member banks quit

The European Payments Initiative has given up on its effort to build a rival to Mastercard and Visa in Europe after more than half its members left.

April

EBAday 2022: Headline speaker line-up revealed

The Euro Banking Association and Finextra have announced their headline speaker line-up for EBAday 2022.

May

Chase launches £400 refer-a-friend scheme for UK digital bank

Chase is adding more financial firepower to its customer acquisition strategy in the UK, enabling customers to earn up to £400 for referring friends to the digital bank.

June

Deutsche Bank puts app on staffers' phones to monitor messages

Deutsche Bank is installing an app on some of its employees' phones that lets it monitor their calls, texts and WhatsApp messages, according to the Financial Times.

July

Rogers outage shuts down Canadian banks' ATMs, POS and internet banking

Interac, a Canadian e-transfer service, is currently down due to issues with the Rogers network provider.

August

Banks to pay $1bn over traders' use of WhatsApp

A handful of Wall Street banks are preparing to pay up to $200m each to settle a case with the Securities and Exchanges Commission (SEC) and the Commodity