CFPB Abandons Plan to Regulate BNPL Like Credit Cards
The Consumer Financial Protection Bureau (CFPB) is preparing to revoke its controversial interpretive rule that would have subjected “pay-in-four” buy now, pay later (BNPL) providers to the same regulations as credit card companies. ... Read More
Standard Chartered Deploys Generative AI Tool Globally to Boost Efficiency
Standard Chartered has launched SC GPT, its proprietary generative AI platform, across 41 markets to enhance productivity for over 70,000 employees. The bank-wide rollout aims to streamline operations, refine client interactions, and ... Read More
Commonwealth Bank Launches Seattle Tech Hub to Accelerate AI and Cloud Innovation
Australia’s Commonwealth Bank (CommBank) has established a new Tech Hub in Seattle, designed to immerse its IT teams in the latest advancements in AI, cloud computing, and modern software testing. The initiative enables CommBank ... Read More
Flagright Secures $4.3M to Expand AI-Powered AML Compliance Platform
AI-native AML compliance platform Flagright has raised a $4.3 million Seed round to fuel its international expansion. The funding was led by Frontline Ventures, with contributions from high-profile angel investors, including former ... Read More
Chipper Cash Partners with Ripple for Crypto-Powered Cross-Border Payments
Chipper Cash, a leading African money movement firm, has signed a deal with Ripple to enable crypto-powered cross-border payments across the continent. The partnership will allow Chipper Cash’s five million customers across nine African ... Read More
Mercury Secures $300 Million Series C at $3.5 Billion Valuation
Mercury, a provider of banking services for entrepreneurs and the tech industry, has raised $300 million in Series C funding, doubling its previous $1.6 billion valuation in 2021 to $3.5 billion. The round was led by Sequoia Capital, with ... Read More
myPOS Acquires UTP Group to Strengthen UK Payment Solutions
London-based fintech company myPOS has acquired UTP Group, a UK payments provider specializing in card machines, tap-to-pay solutions, and e-commerce payment services for SMEs. The deal, whose financial details remain undisclosed, marks ... Read More
JPMorgan Achieves Quantum Breakthrough in Certified Randomness Generation
JPMorgan Chase has announced a major advancement in quantum computing, successfully demonstrating the generation of certified quantum randomness—a development that could transform security protocols, trading systems, and cryptographic ... Read More
Trump Orders Full Phase-Out of Treasury Paper Checks to Combat Fraud
President Donald Trump has mandated the complete elimination of paper Treasury checks by September 30 through an executive order requiring all federal payments to transition to electronic formats. The sweeping change will apply to benefit ... Read More
Block Lays Off 931 Employees in Major Restructuring
Fintech giant Block, formerly known as Square, is cutting 931 jobs and eliminating 748 open positions as part of a significant company reorganization. The news was revealed in an internal email from CEO Jack Dorsey that was obtained ... Read More