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Latest Results from /wholesale

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Swift and top banks test use of AI and data sharing to fight financial fraud

Bank-to-bank messaging network Swift is hailing the results of tests that used a combination of AI and cross-border data sharing to double real time fraud detection in trials involving 13 top tier banks and ten million test transactions.

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Tether unveils US stablecoin

Tether has brought in former executive director of the White House Crypto Council Bo Hines to spearhead a new US-regulated, dollar-backed stablecoin.

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Most SMEs would pay for a Digital Company ID service

More than eight in ten of UK small and medium-sized enterprises (SMEs) would be willing to pay for a Digital Company ID service, according to research commissioned by the Centre for Finance, Innovation and Technology (CFIT).

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Embedded payment platform Rainforest raises $29 million

Rainforest, an embedded payment provider purpose-built for software platforms, has raised an oversubscribed $29 million Series B funding round led by Matrix Partners and Infinity Ventures with participation from Accel and Tech Square Ventures.

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ANZ to cut 3500 jobs

ANZ is to cut 3500 jobs over the next 12 months, marking a 14% reduction in the Australian lender's workforce.

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Bank for fintechs Lead raises $70m

Lead Bank has hit a $1.47 billion valuation after raising $70 million to serve fintech and crypto firms.

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Stripe unveils Tempo blockchain for stablecoin payments

Stripe and crypto investment firm Paradigm have unveiled a blockchain project for stablecoin payments.

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Bank of England and BIS develop off-the-shelf module for analysing ISO 20022 data

The BIS Inovation Hub and the Bank of England have developed a prototype analytical tool to unlock the richer payments data derived from the ISO 20022 payments messaging protocol.

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Utila triples valuation in six months as stablecoin infrastructure demand triggers extension round

Digital assets operations platform Utila has closed a $22 million Series A extension round, tripling its valuation in just six months as the stablecoin boom continues.

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Banks set to accelerate spend on AI as productivity surges

Lloyds’ Financial Institutions Sentiment Survey finds that UK financial firms are doubling down on AI as producivity surges.

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Pave raises $14m for AI-driven portfolio management platform

Pave Finance, a provider of AI-powered, institutional-grade, personalised wealth management software, has raised $14 million in seed funding.

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Kapital doubles valuation to become Latin America's first AI unicorn

Mexico City-based AI-powered platform for small and medium-sized businesses (SMBs) Kapital has raised up to $100 million in a Series C funding round that doubles the firm's valuation to $1.3 billion.