Former OpenAI CEO to Join Microsoft
Sam Altman, the former CEO of OpenAI, known for developing the generative AI platform ChatGPT, has found a new opportunity at Microsoft just days after...
Global Financial Services Sector Embraces Open Finance
The global financial services sector is increasingly recognizing the critical importance of open finance, with nearly half of senior professionals deeming it essential for effective...
Most UK Banks Currently Testing GenAI Solutions
A recent survey by UK Finance reveals that nearly 75% of financial services firms in the UK are currently experimenting with generative AI technologies, utilizing...
Synapse Fallout: Partner Banks Hit with Lawsuit
The repercussions of Synapse's recent collapse are still being felt, as multiple banking partners face legal action over allegations of mismanagement concerning customer funds. One...
Visa Europe Establishes Team for Sustainability Solutions
Visa's European division has launched a dedicated sustainability solutions team to strengthen its commitment to greener payment practices. Led by Steve King, this new team...
Circle Secures Banking Partners for Stablecoin-Powered SWIFT Competitor
Stablecoin platform Circle is collaborating with Standard Chartered, Deutsche Bank, Société Générale, and Santander to establish a cross-border payment network aimed at competing with Swift....
Discover Faces $1.2 Billion Restitution Order Due to Interchange Fees
The Federal Deposit Insurance Corporation (FDIC) has instructed Discover Bank to return over $1.2 billion to merchants who were overcharged due to excessive swipe fees...
John Lewis Introduces Pocket Money Pets for Young Children
As the holiday season approaches, UK department store John Lewis has introduced an innovative product called Nestlums—a Tamagotchi-inspired pet designed to teach young children about...
Barclays Increases Investment in Climate-Tech Startups to £500 Million
Barclays Bank is poised to significantly increase its investments in climate technology startups, raising its commitment to £500 million with a focus on decarbonization initiatives....
Commerzbank Develops AI-Driven Virtual Assistant Using Generative Technology
Commerzbank is partnering with Microsoft to integrate generative AI and avatar technology into a new virtual assistant for its mobile application. This innovative avatar will...