Nationwide Building Society has been fined £44 million by the Financial Conduct Authority for inadequate anti-financial crime systems and controls.

BBVA has run a generative AI ‘DataRally’ with inhouse staff to spot and train talent in the use of the large language models (LLMs) that are behind the success of the likes of ChatGPT.

After aggressively pursuing an AI-driven workforce reduction strategy, Klarna says it is “evolving” the strategy and hiring customer service employees in an acknowledgment that people often still want to talk to a human.

Private equity firm Thoma Bravo has agreed to buy a controlling stake in cloud-enabled risk management and regulatory reporting technology outfit AxiomSL. Financial terms were not disclosed.

UK digital bank Zopa has acquired Rvvup, a provider of AI-based checkout payment tools for B2B and B2C transactions.

Visa is promising financial institutions a long-overdue upgrade to the movement of capital in cross-border payments via a pre-funding stablecoin platform.

London fintech Aspora has raised $53 million in Series B funding, furthering its mission to build a financial ecosystem tailored to the unique needs of diaspora communities.

FIS is mulling a sale of its Worldpay Merchant Solutions business in a reversal of previous plans to spin off the unit as an independent company.

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.