Artificial intelligence

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Mastercard launches GenAI retail assistant

Mastercard has unveiled a generative AI retail assistant tool that offers shoppers tailored product recommendations.


Plum targets Greece with Eurobank backing

UK-based smart money app Plum has secured a €10 million minority equity investment from Greece's Eurobank as part of a strategic partnership in the region.


Fintech valuations stabilising says VC fund chief

The fintech market is returning to some sense of normality in terms of valuations after a period in which it "largely lost its head", according to a leading investor.


Commerzbank builds GenAI-powered virtual assistant

Commerzbank is working with Microsoft to use generative AI and avatar technology for a new virtual assistant in its mobile app.


FCA seeks feedback on data asymmetry between Big Tech and FS firms

The UK's Financial Conduct Authority is calling for industry evidence on whether the data asymmetry between Big Tech and financial services firms could lead to the likes of Amazon and Google gaining entrenched market power in the FS sector.


AI Act: Industry warns EU against overregulation

Digital Europe, a digital technology trade association, has warned the EU against overregulating in its upcoming AI bill in a letter this week.


Majority of UK banks already piloting GenAI

Nearly three quarters of UK financial services firms are now piloting the use of generative AI for things like ‘co-pilot’ employee efficiency tools, according to a UK Finance survey.


FundOnion launches business finance comparison site

An AI-backed finance comparison site, called FundOnion, has launched to help small businesses in the UK find funding.


73% of FS execs expect GenAI to take their jobs

Almost three-quarters (73%) of executives working in financial services expect to eventually be replaced by Generative AI (GAI), according to a recently released study.


Ousted OpenAI boss to work for Microsoft

Sam Altman, the former CEO of OpenAI, the developer of generative AI platform ChatGPT, has resurfaced at Microsoft just days after he was pushed out by the board of directors.