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Dubai-based FinTech startup Upfront secured $10 million in a pre-seed round to grow its “next-generation financial operating system” for small- to medium-sized businesses (SMBs) in the Middle East and North Africa (MENA) region.
The company will use the new funding for product development and to expand its engineering and go-to-market teams across the United Arab Emirates and soon...
Amazon is merging two of its private-label brands to attract bargain-hunting grocery shoppers.
The company launched Amazon Grocery, a new private-label brand combining its Amazon Fresh and Happy Belly brands, according to a Wednesday (Oct. 1) press release. Most products are priced at less than $5.
“With Amazon Grocery, we’re simplifying how customers discover and shop our extensive...
Travis Hill has been nominated to serve as chairman of the board of directors of the Federal Deposit Insurance Corp. after serving as acting chairman since Jan. 20.
Hill’s nomination by President Donald Trump was received by the Senate on Tuesday (Sept. 30) and referred to the Senate Banking Committee, according to Congress.gov.
Before becoming acting chairman of the FDIC, Hill was...
Neobanks that built their reputations in Europe are now accelerating their expansion across borders, with the United States squarely in their sights.
The U.S. offers fertile ground for expansion: Gen Z, the first generation of true digital natives, is beginning to accumulate income, savings and purchasing power — and their expectations for banking services align neatly with the digital...
Peloton debuted an artificial intelligence-focused overhaul of its product lineup along with some price hikes.
The fitness company introduced five new models, according to a Wednesday (Oct. 1) press release. Among them are a lower-cost base model and more expensive “plus” iterations of its bike and treadmill, along with a new rowing machine.
With these “plus” machines comes a new...
The battle lines for cryptocurrency’s future won’t be drawn over hype and speculation, or even technological innovation.
Instead, as the sector matures and looks to capture real-world impact, a trifecta of trust, governance and scale may be what determines its future.
And as a Tuesday (Sept. 30) no-action letter (NAL) from the U.S. Securities Exchange Commission’s (SEC) Division of...
Citi Investor Services has begun rolling out its Single Event Processing technology in North America.
SEP enables real-time asset servicing so that clients can have greater access to funds and improved accuracy, the bank said in a Wednesday (Oct. 1) press release.
The technology was initially launched in select European markets and with International Central Securities Depositories and...
The Bank of England’s governor appears to have relaxed his position on stablecoins.
Writing in the Financial Times (FT) Wednesday (Oct. 1), Andrew Bailey said it would be “wrong to be against stablecoins as a matter of principle,” while arguing for their potential for “driving innovation in payments systems both at home and across borders.”
The FT points out in a separate report that...
LSEG Risk Intelligence has introduced a verification tool powered by Amazon Web Services (AWS).
World-Check Verify is a cloud-native screening API to embed compliance into payment and onboarding flows to provide instant, secure checks without interrupting speed or customer experience, AWS said in a Wednesday (Oct. 1) news release.
“World-Check Verify makes compliance invisible— with...
Artificial intelligence (AI) is supposed to make business smarter, faster and more efficient. But in 2025, it is just as often making things up. Hallucinations, the confident invention of facts, figures and sources, have become a headline risk.
A federal judge in Wyoming threatened to sanction lawyers who submitted AI-generated briefs laced with fictitious cases, while Butler Snow, a...