In a significant leap towards revolutionizing the financial technology space, Swirepay, an all-in-one payment orchestration company, has concluded its second round of seed funding. Securing $3.4 million and bringing their total funding to $5 million, Swirepay is poised to make substantial strides
In a compelling revelation that has raised eyebrows across the financial sector, Michael Barr, the Federal Reserve's outgoing vice chair for supervision, highlighted the competitive pressures driving financial institutions toward the adoption of generative artificial intelligence (genAI). Although
Corporate banking has long relied on batch processing, a method where transactions are aggregated and processed in bulk at scheduled intervals. While this approach was once innovative, it is now a significant hindrance to the industry’s progress and a source of substantial financial inefficiencies
The future of payments technology presents an immense opportunity for startups to revolutionize how we pay for goods and services. This space has long been a fertile ground for disruptors to innovate and make their mark, as evidenced by key players like PayPal in payment systems, Monzo in
In today's rapidly evolving digital landscape, banking institutions are increasingly relying on advanced technologies to keep pace with sophisticated threats. One of the most pressing challenges for banks is fraud detection, a field that has seen a growing partnership with artificial intelligence
Lloyds Banking Group, a longstanding British financial institution, has taken a bold step in response to the evolving landscape of digital banking. Over the next four years, the bank plans to close 136 branches under its Lloyds, Halifax, and Bank of Scotland brands. This significant move reflects
