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Expanding access to credit remains one of the biggest challenges in consumer finance. Legacy systems continue to slow approvals, drive up costs, and limit access to capital. Figure Technology Solutions, in its public filing to offer about 26.3 million shares, is positioning itself as a company that can, among other things, modernize the consumer lending process by embedding artificial...
OpenAI is developing a jobs platform and a certification program designed to help workers and employers thrive in an economy that increasingly uses artificial intelligence (AI).
In a Thursday blog post announcing these new initiatives, Fidji Simo, CEO of applications at OpenAI, wrote that AI will unlock opportunities but will also be disruptive.
“At OpenAI, we can’t eliminate that...
The Federal Trade Commission (FTC) reportedly plans to study privacy harms and other risks posed to children and other users of artificial intelligence (AI)-powered chatbots.
The study will also gather information on how AI services store and share data, Bloomberg reported Thursday (Sept. 4), citing unnamed sources.
The FTC will use its authority to compel companies to turn over...
Lead Bank raised $70 million in a Series B funding round that brought its post-money valuation to $1.47 billion.
The company is a state-chartered bank, offers a banking-as-a-service (BaaS) platform for FinTechs and digital asset companies, and provides full-service business and personal banking to clients across the U.S., according to a Thursday (Sept. 4) press release.
In the release...
In the hierarchy of business expenses, the cost of a postage stamp rarely registers. Particularly when compared to capital equipment, raw materials or enterprise software.
That could be why, despite advances in electronic transfers, automated clearing house (ACH) systems, and real-time payment networks, as much as 40% of B2B transactions still flow through the mail.
Yet this summer,...
Chase is using Nova Credit to help power its cash flow underwriting capabilities.
Chase will be employing the credit infrastructure and analytics company’s Cash Atlas for cash flow underwriting, as well as its Credit Passport to access and make decisions with international credit data, according to a Wednesday (Sept. 3) press release.
“These solutions will enable Chase to serve more...
Microsoft and the European Union have reportedly reached a settlement in which the tech giant will avoid an antitrust fine by agreeing to sell its Teams videoconferencing app separately from its Office packages.
In addition, the settlement, which is still in draft form, would require Microsoft to charge less for packages that don’t include Teams and to improve interoperability with the...
WealthTech company Dispatch says it has raised $18 million in a Series A round.
The new funding, announced Thursday (Sept. 4), is designed to boost investments in agentic workflows and artificial intelligence (AI)-driven data orchestration.
“Dispatch is creating critical infrastructure that the wealth management industry has been missing,” said Chris Downer, general partner at Brewer...
Merrill and Bank of America have introduced a private market program designed for ultra-wealthy customers.
The Alts Expanded Access Program, aimed at ultra-high-net-worth (UHNW) clients with a net worth of $50 million or more, is launching this fall, Merrill Wealth Management and Bank of America (BofA) Private Bank said in a Thursday (Sept. 4) news release.
“Traditionally, private...
McDonald’s has reportedly come out against tipped wage laws that allow establishments in which workers earn tips to pay their employees less than the minimum wage.
CEO Chris Kempczinski told CNBC Tuesday (Sept. 2) that all workers should be paid at least the federal minimum wage, and McDonald’s withdrew from the National Restaurant Association because of its stance on this issue, the...