Citigroup chief executive Jane Fraser says the financial sector is running two AI races at once, she told the South China Morning Post. The first is applying AI to business models to drive revenue growth, shortening product development cycles and impro…
Starling Bank is cutting around 130 jobs, roughly 3% of its 4,000-strong workforce, as the London-based neobank restructures its banking and technology operations. Staff were told this week that the changes were intended to simplify how the company ope…
China released draft amendments to its e-commerce law on Saturday, proposing 20 provisions that would expand the law’s reach beyond platforms and merchants to cover a wider range of participants in the digital economy. The proposal, jointly issued by t…
Germany’s cooperative banks and savings banks, the local institutions that handle mortgages, current accounts, and small business loans for tens of millions of customers, are rolling out their own cryptocurrency trading services. The move will bring di…
A bank that barely existed a year ago is now chasing a valuation most European lenders can only dream of. Erebor was founded by Anduril’s Palmer Luckey and backed by Peter Thiel. It is in talks to raise at a valuation of at least $8bn, and its deposits…
The buzziest corner of finance AI is not the trading desk. It is the dull middle office, where staff keep thousands of portfolios in line with spreadsheets. A London-founded startup just raised $27mn to automate exactly that. The company is MDOTM. It h…
Every year, more than $200 billion in employer-originated wages crosses international borders. The money moves through a patchwork of local banks, regional payroll vendors, and manual compliance processes. Anyone who managed international payments in 2…
Amazon built Prime Day to keep shoppers inside its own marketplace. This year, AI shopping sent its best customers in from outside: a chatbot made the recommendation. US shoppers spent a record $26.4bn across retail sites during the four-day Prime Day …
The space industry can build rockets. Moving money around them is the hard part. A new startup called Nebex wants to fix that, and Google’s venture arm is backing it with $30mn. GV, formerly Google Ventures, led the seed round, Bloomberg reported. Nebe…
India’s Unified Payment Interface has grown to over 750 million daily transactions, and the head of the body that oversees it says AI will be central to reaching a billion. Dilip Asbe, MD and CEO of the National Payments Corporation of India, told Tech…