HSBC Holdings PLC (HSBA.LN) and Goldman Sachs Group Inc. GS, -0.74% are among the investors in a $20 million funding round for U.K. banking-technology startup Bud. Bud said Monday that it will use the money to create the world's largest team dedicated to the development of open-banking technology, connecting customers' bank data with third-party applications and products. "The investment proves that banks are looking seriously at how open banking can evolve beyond what regulation requires...

Apollo Global Management LLC Cl A Bank of Cyprus Holdings PLC BOCH said Tuesday that it has agreed to sell a portfolio of non-performing loans to U.S. private-equity firm Apollo Global Management LLC APO, +0.06% for 1.40 billion euros ($1.63 billion). The lender said the sale is its first disposal of non-performing loans and a "significant milestone" in its bid to improve asset quality. The loan portfolio has a gross book value of EUR2.80 billion, secured by real-estate collateral, and a...