Deutsche Bank’s Corporate Venture Capital (CVC) group has invested in Kodex AI, a Berlin-based startup developing a Large Language Model (LLM) application catered to the needs of the financial services industry.
UBS has launched a ‘Virtual Worker Framework’, that will provide US employees in eligible roles with the opportunity to work 100% remotely.
Nationwide Building Society has been fined £44 million by the Financial Conduct Authority for inadequate anti-financial crime systems and controls.
American investing app Stash has raised $146 million in an oversubscribed Series H funding round led by Goodwater Capital.
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.
Trading app Robinhood is bidding to usurp the likes of Reddit and X as the place to be for users to post about their trades, takes and market commentary.
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.