Ousted OpenAI boss to work for Microsoft
Sam Altman, the former CEO of OpenAI, the developer of generative AI platform ChatGPT, has resurfaced at Microsoft just days after he was pushed out by the board of directors.
RTGS.global adds 23 currencies to cross-border payments network
Cross-border payments network RTGS.global has added 23 currencies to its platform, enabling instantaneous settlement between participating financial institutions vis a single API connection.
Alpian raises CHF12.2m for digital private bank
Swiss startup Alpian has raised CHF12.2 million in a Series A funding round for the creation of a digital-first private bank aimed at the country’s mass affluent market.
Alkami raises $140m
Cloud-based digital banking technology vendor Alkami has raised $140 million in a funding round led by D1 Capital Partners.
Crypto trader convicted of $110m fraud
A cryptocurrency trader has been convicted of fraud in connection with a $110 million market manipulation case.
Payment infrastructure startup Polar raises $10 million
Polar, a fintech startup building payment infrastructure for AI-native SaaS companies, has raised a $10 million Seed round.
How the cloud adds value to open banking business models and strategy
While open banking was initially regarded by many as a typical compliance exercise, following the implementation of the Second Payments Services Directive (PSD2), banks are now shifting gears and going beyond the regulatory requirements by leveraging the benefits of open APIs to cater to customer needs and innovate open banking business models.
Broadridge releases GenAI tool for cutting settlement fails
Broadridge has launched a ChatGPT-style Large Language Model for streamlining back office operations and cutting settlement fails.
CBDC pilot projects seeing adoption in Ghana and Thailand – Giesecke + Devrient
Raoul Herborg, managing director, central bank digital currency (CBDC) solutions at Giesecke and Devrient (G+D) spoke to Finextra on their release of a recent survey on CBDC progress worldwide, and what we can expect from CBDCs in the coming years.
ChatGPT interprets ‘Fed speak’ to predict direction of interest rates
A new study by researchers at Sheffield Hallam University demonstrates the ability of large language models like ChatGPT to predict future interest rate decisions by central banks.
London fintech startup Brava launches stablecoin management system
Brava, a London-based startup, has gone live with a set-it-and-fogert-it stablecoin management system for streamlined yield generation.
FCA finds not enough firms have disciplinary policies in place
The Financial Conduct Authority (FCA) found that the amount of workplace complaints have increased between 2021 and 2023, in its non-financial misconduct survey.
NAB sets five-year goal to phase out passwords
National Australia Bank says it expects to phase out passwords for internet banking within the next five years, replacing the security measure with passkeys and biometric recognition technology.
Visa launches stablecoin settlement in the US
Visa has launched stablecoin settlement in the US, letting issuers and acquirers settle in Circle’s USDC token.
PayPal’s crypto partner mints $300 trillion worth of stablecoins in ‘technical error’
PayPal’s blockchain partner Paxos accidentally minted $300 trillion in stablecoins in an internal transfer on Wednesday.