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Citi has debuted its PayTo initiator, a payment solution for its institutional clients.
PayTo lets clients access what Citi calls a “faster, cost-effective, and more secure” alternative to credit cards, debit cards or direct debits, per a Tuesday (May 20) press release.
With PayTo, those “clients can initiate account-to-account pull payments,” the bank said in a news release. “This means clients...
Microsoft is transforming Windows into an agentic AI platform, marking one of the biggest shifts in the operating system’s history as the software giant starts building the underpinnings of the new open, agentic web.
At this week’s Microsoft Build 2025, CEO Satya Nadella said the internet’s legacy systems need to be reconfigured to work with the coming wave of AI agents.
“We’re just about getting...
The Department of Justice is reportedly probing whether a Google artificial intelligence (AI) deal violates antitrust law.
At issue is Google’s agreement with chatbot maker Character.AI to use that company’s AI technology, Bloomberg News reported Thursday (May 22), citing sources familiar with the matter.
According to those sources, regulators recently informed Google they are investigating...
Moneta Money Bank, one of the largest retail banks in the Czech Republic, is using the latest technologies to reshape how it connects with customers amid competition for consumer wallets.
Working with Amazon Web Services (AWS), data and artificial intelligence solutions provider SAS and technology firm Trask, Moneta transformed its slow, manual marketing processes into fast, personalized messages...
American business activity and sentiment improved in May but remain muted amid ongoing tariff turmoil.
That’s according to the S...
The job market remains resilient amid economic uncertainty, analysts said Thursday (May 22) after government data showed a decline in initial claims for unemployment insurance.
That number decreased by 2,000 during the week ended Saturday (May 17), the Department of Labor (DOL) said in a Thursday (May 22) press release. The total of 227,000 initial claims filed during the week was down from the...
Payments bank Banking Circle launched a partnership with Visa’s Visa Direct.
This collaboration lets Visa Direct access Banking Circle’s “extensive” local clearing rails around the world, thus strengthening Visa’s payment reach for its customers, the companies said in a Thursday (May 22) news release.
The arrangement lets Visa Direct use Banking Circle’s single API technology to access direct and...
The digitization of money, and the movement to decentralized finance, begs the question: What happens to financial institutions, central banks and central banking policy?
The banking system itself may seemingly be upended by stablecoins, cryptocurrencies and the prospect of digital dollars. The landscape is still fragmented, with regulations still in flux, and with some banks (but not all)...
After more than 200 years, it is time to say goodbye to the penny.
As the Wall Street Journal (WSJ) reported Thursday (May 22), the U.S. Treasury Department will cease putting new pennies into circulation by early 2026.
Eventually, the department told WSJ, there won’t be enough pennies for use in day-to-day transactions, meaning that businesses will need to round up or down to the nearest five...
Cryptocurrency exchange Kraken is reportedly set to start rolling out tokenized equities that will be available to customers in Europe, Latin America, Africa and Asia in the coming weeks.
Using tokens called xStocks, Kraken plans to offer tokenized versions of more than 50 stocks — including Apple, Tesla and Nvidia — and exchange-traded funds (ETFs), The Wall Street Journal (WSJ) reported...