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Microsoft has pledged $17.5 billion for artificial intelligence (AI) and cloud computing in India.
The investment, which the company called its largest ever in Asia, was announced Tuesday (Dec. 9) after CEO Satya Nadella met with Indian Prime Minister Narendra Modi to discuss the country’s AI vision.
“Microsoft’s investment in India focuses on three pillars—scale, skills and...
Embedded banking provider ClearBank has launched a collaboration with foreign exchange (FX) and payments solutions company Finseta.
The partnership, announced in a news release Tuesday (Dec. 9) is designed to deliver agency banking services supporting British pound (GBP) and multi-currency (MCCY) accounts.
The partnership will see Finseta use ClearBank’s virtual IBAN technology to...
Anthropic has teamed with consulting firm Accenture to help companies scale artificial intelligence (AI) projects.
The collaboration, announced Tuesday (Dec. 9), has resulted in the Accenture Anthropic Business Group, which will provide training to around 30,000 professionals.
“Our new partnership means that tens of thousands of Accenture developers will be using Claude Code, making...
Fifth Third Bank and Brex have partnered on a commercial card that will enable the bank’s commercial banking clients to access Brex’s intelligent finance platform.
With access to the platform and the Fifth Third Commercial Card powered by Brex, these clients will be able to issue corporate cards, automate expense management, make real-time payments, and use artificial intelligence (AI...
Stablecoins take the most trusted thing in finance, the dollar, and put it onto an open, programmable, always-on network, the blockchain.
Over the past 11 years, stablecoins have evolved from a niche workaround for traders into the backbone of cryptocurrency markets and, increasingly, have become a candidate for global payments infrastructure. Today, policymakers, banks and FinTech...
JPMorgan Chase said BMW has achieved a landmark using its Kinexys payments system.
The carmaker has become the first corporation to carry out a fully preprogrammed foreign exchange (FX) transaction using programmable payments on Kinexys, the banking giant said in a Tuesday (Dec. 9) news release.
According to the release, BMW’s treasury teams in the U.S. and Germany “pre-defined...
PNC Bank now enables eligible clients of its PNC Private Bank to buy, hold and sell bitcoin directly through its digital banking system.
These direct spot bitcoin trading capabilities are powered by Coinbase’s Crypto-as-a-Service (CaaS) infrastructure, the companies said in a Tuesday (Dec. 9) press release.
The capabilities mark the first offering launched as part of the partnership...
The rise of so-called “alternative consumer lending” has made loans tougher to track.
As The Wall Street Journal (WSJ) reported Tuesday (Dec. 9), private credit has exploded into this landscape, helping fund loans from FinTech firms to consumers. The report cites an analysis from KBW showing that such funding could support close to $140 billion in lending globally over the next few...
Beyond the victims and the billions of dollars in losses, the rise of AI-driven fraud means banks, FinTechs and payment providers must think about risk, liability and real-time fund flows.
Fraudsters are using the same intelligence tools that power modern commerce to increase the speed, scale and success rate of attacks. The result is a widening gap between how fast fraud evolves and...
Revolut has reportedly offered to repurchase shares from former employees at a 30% discount to its recent funding round.
The U.K. FinTech is giving ex-staffers the opportunity to sell their shares back to the company — recently valued at $75 billion — for $966.74 each, the Financial Times (FT) reported Tuesday (Dec. 9), citing correspondence seen by its reporters.
Former workers who...