December 22, 2024 – FintechDaily

Barclays Heads £4 Million Seed Funding Round for WealthOS

WealthOS, a cloud-native and API-driven core wealthtech startup, has successfully raised an additional £2 million in its seed funding round, bringing the total to £4...

Banks Urged to Broaden Risk Management Strategies to Include AI

A report from the US Treasury has urged banks to enhance their risk management frameworks to effectively combat the growing threats posed by AI-driven fraudsters...

CommBank Reduces Customer Scam Losses by 50%

Australia's Commonwealth Bank has announced that it has successfully reduced customer scam losses by 50% in FY24, achieved through a combination of innovative anti-scam technologies,...

Visa Collaborates with USAID to Enhance Financial Inclusion Efforts

Visa is collaborating with the United States Agency for International Development (USAID) to enhance access to digital government and payment systems worldwide. Under a five-year...

Commerzbank Partners with Tenity to Launch Accelerator for Sustainable Finance

Commerzbank is collaborating with startup incubator Tenity to establish a joint innovation accelerator focused on sustainable finance. The program aims to foster proof-of-concept development and...

Westpac Unveils Multi-Billion Dollar Technology Upgrade

Australian bank Westpac is set to invest billions of dollars over the next four years to streamline its technology infrastructure. The bank plans to allocate...

ValidMind Secures $8.1 Million for AI-Driven Risk Management Platform

ValidMind, an AI and model risk management platform designed for the financial services sector, has successfully raised $8.1 million in seed funding. The funding round...

US and UK Strike Pact to Regulate AI Models

The governments of the UK and US have signed what they describe as the first international bilateral agreement to regulate the risks associated with artificial...

Bank of England Advances Retail CBDC to Address Banking Innovation Shortfall

The Governor of the Bank of England, Andrew Bailey, has reaffirmed his support for a retail central bank digital currency (CBDC), arguing that central banks...

Texas Stock Exchange Secures $120 Million to Compete with NYSE and Nasdaq

A new stock exchange, backed by BlackRock and Citadel Securities, is being launched to compete with the New York Stock Exchange and Nasdaq. Located in...