Bank of America Merrill Lynch is tapping the expertise of its investment officers, rather than algorithms, for the US launch of its online advisory platform.

Almost three-quarters (73%) of executives working in financial services expect to eventually be replaced by Generative AI (GAI), according to a recently released study.

Hackers are trying to sell what they claim are the bank account details of 30 million Santander customers for $2 million.

This news comes a week after the UK payments group issued a plea to Chancellor Rachel Reeves to impose a ‘Tech Levy’ on social media giants to pay for the impact of payments fraud originating from their platforms.

The cost-of-living crisis in the UK is likely to lead to a rise in cyber crime, suggests recently published research.

Carefull, an AI-powered financial safety platform that helps banks and wealth advisors protect aging customers from scams and money mistakes, has closed a $16.5 million Series A round.

Climate investment firm Wollemi Capital, founded by former Macquarie Capital chief Tim Bishop, has raised $220 million and attracted Commonwealth Bank as a strategic investor and partner.

APImetrics, Finextra and tomato pay have released a report capturing the performance of UK open banking providers over the period July 2021 to July 2022, analysing over 17 million functional API calls.

Payment orchestration platform Juspay has secured $60 million as part of its Series D funding round.

The FCA is to host a roundtable with banking industry leaders over concerns that onerous compliance requirements are stifling investment in artificial intelligence.