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/markets

US shutdown could spark regional bank crisis says fintech CEO

The layoffs of federal workers in the US as a result of the government shutdown could create numerous blind spots in the regulation of the country's banking sector, says the CEO of a fintech startup.

/payments

G20's cross-border payments plan to miss 2027 deadline

Payment firms have reacted with disappointment to the news that a plan promoted by the G20 to make cross-border payments more efficient is set to miss its first deadline.

/ai

JPMorgan spends $2bn a year on AI, saves same amount - Dimon

JPMorgan Chase invests $2 billion a year developing AI, with the technology saving the bank about the same amount, according to CEO Jamie Dimon.

/payments

Revolut set for Indian launch

Revolut will launch its payments platform in India later this year, targeting 20 million customers in the country by 2030.

/retail

Atom Bank opens Newcastle HQ

Atom Bank has officially opened its new headquarters in Newcastle with the promise of adding 30 employees to its 600-strong workforce.

/ai

BoE issues warning over potential AI bubble

UK investors should prepare for the possibility of a sharp correction in the value of UK stocks due to falsely inflated valuations for AI companies, according to the Bank of England.

/ai

Two-thirds of bank staff using unapproved AI tools - survey

The prevalence of shadow AI, whereby bank staff are using unapproved tech, poses a growing risk to the financial services industry, suggests recently published research.

/crypto

FCA lifts retail ban on crypto ETNs

The UK's financial watchdog has ended its four year ban on the use of crypto-based exchange traded notes (ETNs) by retail investors in a move that could add 20% to the UK's crypto market

/crypto

Coinbase applies for national trust charter

Crypto giant Coinbase is the latest fintech to apply to the Office of the Comptroller of the Currency (OCC) for a national trust company charter.

/inclusion

Big Issue partners fumopay to let sellers accept open banking payments

Big Issue, a magazine sold by the homeless across the UK, is working with open banking provider fumopay to pilot a QR code-based way for vendors to take payments.

/people

Revolut's Storonsky switches residency from UK to UAE

Revolut's billionaire co-founder and CEO Nik Storonsky has changed his residency from the UK to the United Arab Emirates.

/identity

India to add biometric authentication for UPI payments

Indians will be able to authenticate payments made through the country's Unified Payments Interface via facial recognition or fingerprints, according to Reuters.