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Gen AI for compliance startup Sedric Ai raises $18 million

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Gen AI for compliance startup Sedric Ai raises $18 million

Amerian Express Ventures has joined an $18 million funding round in Sedric AI, a startup developing a dedicated compliance large language model (LLM) for financial services.

Wirecard executives landed with €140 million damages bill in civil suit

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Wirecard executives landed with €140 million damages bill in civil suit

Three former Wirecard executives, including CEO Markus Braun, have been order to pay €140 million plus interest to the former administrator of the bankrupt payments group.

Ant Group launches AI-powered 'life assistant' app

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Ant Group launches AI-powered 'life assistant' app

Ant Group has launched a new 'life assistant' app, Zhixiaobao, connecting users to a multitude of AI-agents trained for shopping, fitness and language learning.

Visa to launch new model for A2A payments in the UK

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Visa to launch new model for A2A payments in the UK

Visa is promising to launch a smart upgrade to the current pay-by-bank model with the launch in the UK of Visa A2A, a rules-based system for bill payments and subscription management in early 2025.

BIS field study show AI use can boost productivity among programmers

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BIS field study show AI use can boost productivity among programmers

A Bank for International Settlements' field study on AI use by Ant Group programmers demontrated a clear boost in the number of lines of code produced by staff exposed to the Large Language Model.

Nationwide prepares for surging digital volumes with Red Hat OpenShift deployment

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Nationwide prepares for surging digital volumes with Red Hat OpenShift deployment

Nationwide Building Society has built a new Business Integration Platform utilising Red Hat OpenShift to achieve service availability of 99.999% and faster deployment of upgrades and launches.

PSR to cut APP reimbursement limit to £85,000

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PSR to cut APP reimbursement limit to £85,000

In the face of growing government and industry pressure, the UK's Payment Systems Regulator is set to bow to demands to reduce the reimbursement limit offered by banks to victims of authorised push payment fraud from £415,000 to just £85,000.

Mastercard and Visa to face multi-billion pound lawsuit over interchange fees on UK businesses

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Mastercard and Visa to face multi-billion pound lawsuit over interchange fees on UK businesses

The UK's Competition Appeals Tribunal has given the go-ahead for a $4 billion class action lawsuit brought by UK businesses over Mastercard and Visa multilateral interchange fees.

UAE payments fintech Ziina scores $22 million Series A

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UAE payments fintech Ziina scores $22 million Series A

UAE-based payments fintech Ziina has secured $22 million in a Series A funding round led by Altos Ventures, with participation from other top-tier investors including Fintech Collective, FJ Labs, Avenir Growth, Y Combinator, and Jabbar Internet Group.

Danish family finance app MyMonii shuts up shop

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Danish family finance app MyMonii shuts up shop

Family-focussed financial services app MyMonii is the latest fintech to bite the dust.

Axway acquires Sopra Banking Software

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Axway acquires Sopra Banking Software

Axway has acquired core banking vendor Sopra Banking Software in a €330 million deal.

Tarabut acquires UK-based A2A payments platform Vyne

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Tarabut acquires UK-based A2A payments platform Vyne

London-based start-up Vyne, a real-time account-to-account (A2A) payments platform for online businesses, has been acquired by Middle Eastern open banking player Tarabut, for an undisclosed sum.

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