Citi and State Street have joined a $40 million Series B funding round for AI-powered SaaS investment management and asset servicing enterprise platform FundGuard.

Nvidia Corp has pledged £2 billion to fund AI innovation and development in the UK, investing in AI companies, fintech firms, and startups.

The cloud is now the new normal and financial institutions are harnessing and deriving value from the massive amount of data that they possess. Finextra Research’s latest report in association with Amazon Web Services highlights that technology needs to be adopted as quickly, easily and cost-effectively as possible, for scale and flexibility.

The deployment of new applications and the migration of core systems onto the cloud is in full swing, and financial institutions (FIs) could arguably soon be free of the legacy shackles that prevent them from moving forward into the age of digitalisation.

Engagement banking vendor Backbase has acquired UK-based digital wealth platform Nucoro. Financial terms of the deal were not disclosed.

Stablecoin firm Circle has applied to create a national trust bank, moving further into the mainstream following its blockbuster IPO last month.

Juice, a UK-based alternative lending platform for digital founders, has raised £25 million in funding.

During Money20/20 in Amsterdam, Finextra caught up with Daniel Baeriswyl, CEO and founder of Science Card, a neobank that offers customers an online current account and the opportunity to make contributions to impactful peer-reviewed scientific research.

Dutch neobank bunq has upgraded its GenAI assistant Finn to make it “fully conversational” and rolled out a travel insurance product.

Enfuce has announced its partnership with Swedish banking as a service (BaaS) provider SEB Embedded, part of SEB, to offer a full virtual and physical card solution tech stack to SEB Embedded’s BaaS customers.

Over 100 developers from 15 teams crammed into a co-working space at Fishburners in Sydney for the launch of MasterCard’s first-ever global hackathon series, exceeding the card scheme’s aspirations for the event.

Raiffeisen Bank International has struck a deal with Wise to bring cross-border payments to its customers in Central and Eastern Europe.

TSB is advising consumers to avoid making online purchases on Facebook Marketplace, warning that over a third (34%) of the adverts tested on the platform are scam posts.

The world’s largest asset manager, BlackRock, has announced its membership of Fintech Scotland, the promotional for the country’s fintech sector.