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Three financial regulators are scrambling following the President Donald Trump administration’s latest round of personnel cuts.
Over 2,300 staffers across the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Securities and Exchange Commission are set to be laid off, Bloomberg reported Wednesday (May 7). The group includes bank examiners, criminal...
First comes disruption, then comes transformation. That’s something enterprise CFOs and treasurers are finding out in real time.
At the heart of this transformation is real-time data’s impact across the back office. Traditional enterprise resource planning (ERP) systems, often siloed and batch-oriented, are giving way to cloud-native platforms that offer continuous, integrated data flows; while...
Subscription management platform Recurly acquired Redfast and Prive.
The acquisitions will help Recurly expand its tools for subscriber engagement and commerce automation as well as manage the full subscriber lifecycle, from conversion to retention, according to a Wednesday (May 7) press release.
Recurly’s strategy aims to unify billing, payments, analytics, engagement and commerce within one...
Apple is “actively looking at” revamping its Safari web browser to concentrate on artificial intelligence (AI)-powered search engines and shift away from Google search, potentially creating a colossal shift in the mobile browser landscape.
This disclosure was made by Apple’s Senior Vice President of Services Eddy Cue during his testimony in the U.S. Justice Department’s lawsuit against Alphabet,...
OpenAI is reportedly envisioning a future where it shares less revenue with longtime benefactor Microsoft.
The artificial intelligence startup has an agreement with Microsoft to share 20% of its top-line revenue. However, OpenAI told investors it expects to share just 10% of its revenue with its partners, Microsoft among them, by 2030, The Information reported Tuesday (May 6), citing financial...
Mastercard has teamed with British FinTech Cardstream to promote open banking payments.
The partnership will allow Cardstream to bolster its Payment Facilitation-as-a-Service (PFaaS) platform and allow customers to offer open banking payments to merchants and retailers throughout the U.K., the companies said in a Wednesday (May 7) news release.
“There’s strong demand for open banking payments as...
Jeff Bezos’ Bezos Expeditions is reportedly leading a $72-million investment in AI firm Toloka.
Toloka Founder and CEO Olga Megorskaya told Reuters in an interview Wednesday (May 7) that the investment was a milestone that should speed the company’s growth, particularly in the American market, and bolster its development of products through human experts collaborating with artificial intelligence...
Revolut and cryptocurrency infrastructure firm Lightspark have teamed to speed bitcoin transactions in Europe and the U.K.
The integration lets Revolut tap into Lightspark’s Lightning Network-based payment protocol for near-instant bitcoin transfers, Lightspark said in a Wednesday (May 7) blog post.
In addition, the London-based Revolut will gain access to Lightspark’s MoneyGrid payment routing...
B2B commerce infrastructure platform Balance has introduced a new real-time payments tool.
Instant Bank Connection is designed to simplify ACH setup for buyers and speed payments to merchants, the company said in a Wednesday (May 7) news release.
“Although ACH is one of the most cost-effective payment methods in B2B, its adoption has been held back by outdated onboarding flows such as credential-...
The cryptocurrency industry in the United States wants regulatory clarity around its on-chain financial markets and digital assets like stablecoins.
It is having a lot of trouble getting there.
The industry’s hopes for a productive policy discussion around a draft bill for digital asset markets were derailed Tuesday (May 6). With news that the GENIUS Act, an acronym for Guiding and Establishing...