CMA outlines competition concerns with AI Foundation Models
The Competition and Markets Authority (CMA) has identified key risks to fair competition in AI Foundation Models (FMs), growing concerns as AI rapidly develops in the financial industry.
Fintech infrastructure firm Prime Trust raises $107m
Prime Trust, a one-stop-shop for API-based financial infrastructure for fintech and digital asset innovators, has raised $107 million in a Series B funding round.
Cynergy Bank contracts with Google Cloud and Wipro to blend human touch with neobanking know-how
SME bank Cynergy Bank has contracted with Google Cloud and Wipro for the build of a digital relationship platform, aligning face-to-face contact with the technical know-how of an app-only startup.
Caliza launches in Brazil to help banks and fintechs provide access to US economy
Caliza, a startup offering banks and fintechs an API that lets their customers save and transact in US dollars, has launched in Brazil with $5.3 million in seed funding.
PayPal integrates Mastercard Agent Pay into wallet
Mastercard’s agentic payments platform is being integrated into PayPal’s wallet to allow AI agents to complete transactions on behalf of users.
US economy expands at revised 3.3% rate on stronger investment
The US economy expanded in the second quarter at a slightly faster pace than initially estimated on a pickup in…
House of Representatives kills CFPB oversight of Big Tech payment apps
The US House of Representatives has followed the Senate in voting to overturn a Consumer Financial Protection Bureau rule that would give the watchdog oversight of tech giants such as Apple, Google and X, that offer digital payment apps and wallets.
Bourgeois Boheme raises €6.5m for financial platform for the rich
Bourgeois Boheme (BoBo), a European fintech targeting high-net-worth individuals with the promise of instant transactions of up to €1 million, has closed a €6.5 million seed round led by Graphit Lifestyle.
700Credit & WebBuy form alliance to help dealers gain credit insight on website visitors
A new product alliance emerged this week involving 700Credit, a provider of credit reports, compliance solutions, soft pull products, and driver’s license authentication platforms, and WebBuy, an omnichannel digital retailing solution built to engage customers searching for vehicles on dealership’s … [Read More]
Crypto custodian BitGo moves into private securities with Brassica acquisition
Crypto custody specialist BitGo has acquired Brassica, a fintech specialising in providing back-end infrastructure services for private securities and alternative investments. Financial terms were not disclosed.
Coupons4Real uncovers Top 10 states where consumers are trying to improve their credit most
With a new education program from TransUnion enabled by its collaboration with Credit Sesame coming later this year, Coupons4Real analyzed the search volume data from Google to gauge how much consumers are interested in improving their credit and from what … [Read More]
Losses rise across prime, nonprime securitized auto loans (Big Wheels)
Losses across prime and nonprime securitized auto loans increased sequentially and year over year as auto asset-backed securitization volume outpaces…
Félix raises $75 million for WhatsApp-based stablecoin remittance platform
Félix, a chat-based platform that utilises WhatsApp and stablecoins to enable Latino immigrants in the US to send money abroad, has secured $75 million Series B in equity and growth financing.
French startup Spiko raises $22m
Paris-based fintech Spiko has pulled in $22m after completing a series A funding round.
Green debit card startup on the way to £1 million crowdfund target
Tred, a UK startup building a carbon tracking debit card and app, has bust through its initial £400,000 crowdfunding target within hours of going live on Crowdcube.