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/ai

Castellum.AI raises $8.5m

Castellum.AI, a financial crime compliance platform with in-house risk data, AML/KYC screening and AI agents, has closed an oversubscribed $8.5 million Series A round.

/wealth

Revolut launches stocks and shares ISAs and ETF investment options

Revolut has launched Stocks and Shares ISAs and UK-listed Exchange-Traded Funds (ETFs) as it expands investment options for customers in the UK.

/crime

Monzo slapped with £21 million fine for AML failings

The UK's Financial Conduct Authority has fined neobank Monzo £21,091,300 over its "inadequate" anti-financial crime systems and controls that were in place between October 2018 and August 2020

/startups

Former Monzo alumni raise $13 million for AI chatbot startup

Gradient Labs, a startup creating AI agents for the financial services industry and founded by former Monzo alumni, has raised $13 million.

/payments

Mastercard and Pay4You form spend management partnership

Mastercard has joined forces with self-service payment portal Pay4You to pitch a tail spend management offering to firms in Europe.

/payments

EPC invites Directory Service Providers to collaborate on VoP scheme

The European Payments Council is seeking Directory Service Providers to help with checking routing algorithms that may be used by Verification of Payee (VoP) scheme participants.

/payments

Five more Belgian banks join the European Payments Initiative

Five big banks in Belgium have joined the European Payments Initiative (EPI) with the intention of rolling out the Wero digital wallet and instant account-to-account (A2A) payment application to customers in the first half of next year.

/startups

BNP Paribas to run UK fintech incubator programme for AI

BNP Paribas Personal Finance is to run its third successive UK Fintech incubator programme, seeking out startups with Gen AI applications applicable to the financial services sector.

/ai

Fintech sector braced for fresh wave of disruption as AI changes the game

As artificial intelligence reshapes the business landscape, fintechs stand poised to usher in a fresh wave of disruption as the industry emerges from a prolonged slump.

/retail

Zopa opens Manchester office

London-headquartered digital bank Zopa is opening an office in Manchester as it bids to create a 500-strong workforce in the city.

/crypto

Pair jailed for £1.5m crypto fraud

A UK judge has sentenced two men to a combined 12 years in prison for a £1.5 million cryptocurrency fraud.

/markets

Trump says tariff rates could be up to 70% as letters ship out

As the 9 July tariff deadline looms, US President Donald Trump has said that rates could be up to 70% for certain counties.