FintechDaily – Page 385 – Fresh Dose of Fintech News

Symphony and Google Unveil AI-Powered Joint Venture for Telephone Communication

Regtech provider Symphony is leveraging the generative AI capabilities of Google to create a service that ensures compliance for banks' voice calls. The two companies...

MAS Chief Dismisses Private Cryptocurrencies in Address

Private cryptocurrencies have not met the fundamental criteria for digital money and are expected to decline in popularity soon. Ravi Menon, the outgoing head of...

Payfare Stock Plummets Following DoorDash Contract Setback

Shares in Payfare fell by more than 75% after the Canadian earned wage access firm announced a strategic review following the loss of its largest...

Colombian Payments Startup Bold Secures $50 Million in Funding

Colombian payments fintech Bold has successfully raised $50 million in a Series C funding round led by General Atlantic. Participants in this round included the...

Ronaldo Faces Class Action Lawsuit for Binance Promotion

Cristiano Ronaldo is facing a class action lawsuit exceeding $1 billion due to his promotion of an NFT collection associated with the controversial cryptocurrency exchange,...

Swift to Leverage AI in Battle Against Fraud

Banking co-operative Swift is collaborating with global banks on AI pilots aimed at combating cross-border payments fraud. In the initial pilot, Swift is enhancing its...

Italian Regulator Takes Action Against Intesa Sanpaolo for Transition to App-Only Services

Intesa Sanpaolo has been instructed by Italy's competition authority to halt the migration of 2.4 million customers to its new app-only service unless it receives...

Labour Unveils Strategy to Prevent ‘Banking Deserts’

As banks in the UK continue to close branches, the Labour Party has announced plans to grant new powers to regulators aimed at ensuring public...

Bank of England to Assess AI Risks to Financial Stability

The Bank of England is initiating a review of artificial intelligence (AI) and machine learning (ML) amid concerns about their potential impact on financial stability....

HSBC Unveils New Embedded Finance Initiative

HSBC has teamed up with B2B global trade network Tradeshift to launch a joint venture that offers embedded finance solutions to business clients. The new...