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/regulation

Industry groups call on SEC to ditch cyber disclosure rule

A coalition of US financial trade associations are calling on the Securities and Exchange Commission to rescind its cyber incident disclosure rule, claiming that it endangers victims.

/people

Charlotte Crosswell steps down as CFIT chair

Charlotte Crosswell OBE has stepped down as chair of the Centre for Finance, Innovation, and Technology (CFIT), and will be focusing on her role as executive chair of Raidiam and other non-executive board roles.

/crypto

Major US banks consider join stablecoin venture

US big banks, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo have held discussions on potentially launching a stablecoin that will improve transaction speeds whilst managing competition from encroaching crypto firms.

/people

TD Bank to lay off 2% of staff in restructuring

TD Bank has announced that 2% of its workforce will be laid off amid digital and AI restructuring program under new CEO Ray Chun.

/regulation

Temenos Community Forum opens the floor to AI governance

Setting the tone for the second day of Temenos Community Forum, Dr Jonnie Penn, associate teaching professor of AI ethics and society, University of Cambridge delivered a speech on both the growth of AI and the task of governing its ethical standards.

/payments

US to kill off the penny

The US Treasury has confirmed plans to phase out the penny, with one cent coins no longer produced from next year.

/startups

Slash raises $41m for 'vertical banking'

Slash has raised $41 million at a $370 million valuation for its business banking platform that promises to end the one-size-fits-all model and instead provide bespoke offerings for different industries.

/startups

Keep raises C$33m to build Canada's Brex

Keep, an all-in-one financial platform for small businesses, has emerged from stealth with C$33 million in equity financing to build a Canadian Brex.

/payments

Curve Wallet to compete with Apple Pay on iOS devices

After arriving on Android, London-based digital wallet curve has taken advantage of the opening up of the iPhone NFC interface to provide a compelling alternative to Apple Pay on iOS devices.

/ai

BBVA overhauls mobile app with AI and virtual financial coach

BBVA has overhauled its mobile app to offer faster response times and more personalisation through AI integration.

/retail

Digital pensions fintech Penfold raises £3.9 million

Digital pension provider Penfold has raised £3.9 million in a funding round led by Gresham House Ventures.

/ai

Google launches agentic shopping experience

Google is to launch an agentic shopping experience within search results, enabling shoppers to set a price for a particular product and allow the AI agent to make the purchase.