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Payments behemoth Mastercard this year plans to launch a generative AI tool that will cater to businesses.   Entrepreneurs looking to start a business or organize operations will be able to ask the gen AI tool questions and it will provide solutions, Jane Prokop, executive vice president for small and medium-sized enterprises at Mastercard, tells Bank…

Things we’re reading today include … Barclays bank payments restored after app went down in outage – BBC News Generative AI’s Rise Adds to US Bank Uncertainty – Bloomberg Ethiopia’s CBE bank recovers $10m taken during technical glitch – BBC News fintech: Fintech is making global payments its business – The Economic Times (indiatimes.com) The……

I’m working with a cryptobank start-up, and we’re looking at options for licensing. Various countries have various attractions, with some more attractive than others. I won’t go into the nuances of the details as it’s all under wraps, but one of the founders turned to me and asked if there might be a good licensed……

Eight months after acquiring credit card startup X1 for $95 million, Robinhood announced today the launch of its new Gold Card, with a list of features that could even give Apple Card users envy. Robinhood, better known for its brokerage app aimed at the everyday investor, is touting all sorts of benefits with its new…

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Visa Inc. is adding three new AI-powered fraud-prevention tools to its suite of products for business clients as the credit-card giant uses the technology to improve security. Among the tools, available to clients starting in the first half of the year, will be one that expands on Visa’s current artificial-intelligence technology that helps detect and…

Swindon, U.K.-based Nationwide Group has offered to acquire U.K.-based financial institution Virgin Money for 2.9 billion pounds ($3.7 billion) in cash, according to a March 21 Nationwide release.  The acquisition, which must be approved by the Financial Conduct Authority, would help Nationwide grow its customer base, deposits and operations organically, the release stated. The acquisition of…

Technology provider nCino is looking to create a single platform in the cloud that offers deposits, business loans and personal loans, while meeting regulatory demands and increasing overall efficiency.  With that effort in mind, nCino on March 18 announced its $75 million acquisition of DocFox to eliminate paperwork and reduce overall onboarding time — a…

Financial institutions should expect to fail when exploring new technologies, Ami Iceman Hauter, chief research and digital experience officer at Michigan State University Federal Credit Union, said at the recent Bank Automation Summit U.S. 2024 in Nashville, Tenn.   “We’re trying things, we’re not going to be afraid to fail,” she said, noting that the…

As you know, I don’t like entering the political sphere too much as it’s way too controversial, but I’ve just got around to watching the BBC Panorama programme aired on February 19 about Hamas’s secret financial empire. It’s fascinating and, unfortunately, only available on the BBC iPlayer, as far as I know. It’s well worth……