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Financial institutions are on high alert going into 2026 as fraudsters continue to tap AI for their schemes. In fact, 67% of financial institution leaders agree that fraud events are increasing, driven by bad actors’ use of tools like generative AI, according to Alloy’s 2026 State of Fraud report, released Dec. 9. The report surveyed more than 500 industry leaders at enterprise banks, regional […]
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Whitney McDonald
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Nvidia Corp. agreed to a licensing deal with artificial intelligence startup Groq, furthering its investments in companies connected to the AI boom and gaining the right to add a new type of technology to its products. The world’s largest publicly traded company has paid for the right to use Groq’s technology and will integrate its […]
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Bloomberg News
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Data breaches made headlines in 2025 in health care, manufacturing, technology, retail and financial services but AI can play a role in preventing them. In 2025, data breach costs in financial services reached $5.56 million, according to DeepStrike’s recent “Data breach statistics 2025: Costs, causes, trends and insights” report. The report also offered these causes behind breaches: Stolen credentials; Phishing; Exploitation; Supply chain compromise; Ransomware; and Shadow AI. […]
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Whitney McDonald
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Global payments company Airwallex raised $330 million in a series G funding round backed by investors including T. Rowe Price Associates, Activant, Lingotto and Robinhood Ventures, according to a recent company’s release. After the funding, Airwallex is valued at $8 billion. The proceeds will primarily fuel the company’s U.S. expansion and accelerate its AI roadmap, Philipp Reichardt, VP for enterprise in the Americas at Airwallex, told FinAi News. London-based Airwallex plans to add a second global headquarters in San Francisco. “We’re investing over $1 billion from 2026 through 2029 […]
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Vaidik Trivedi
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Venture capitalists cautiously funded fintechs in 2025 as they continued their investment spree into AI-driven fintech companies and are expected to spend more in 2026. “AI-driven fintech funding in 2025 has been disciplined, not enthusiastic,” Katie Quilligan, principal at venture capital firm BankTech Ventures, told FinAi News. “We’ve seen selective capital deployment, not a funding boom.” Hear more from Quilligan at the FinAi Banking Summit. Investors are writing checks for […]
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Vaidik Trivedi
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Retail trading platform Interactive Brokers Group is the latest tech provider to apply for a banking license. “On Dec. 18, 2025, Interactive Brokers filed for an [Office of the Comptroller of the Currency] Non-depository National Trust Bank Charter,” a spokesperson told FinAi News. The charter will operate under Interactive National Trust Bank. Fintechs applying for banking licenses is a continuing trend. Mercury Technologies, for one, applied for a banking license Dec. 19. Other […]
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Whitney McDonald
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Private equity companies are cautiously deploying homegrown AI solutions as PE emerges as a major financing option for maturing companies looking for money beyond venture capital. The share of PE firms partnering with external AI providers dropped to 52% in 2025, down from 76% in 2024, according to a Dec. 8 Citizens survey. Citizens surveyed 153 leaders at PE firms with a fund size of less than $1.5 billion between Oct. 3 and Oct. […]
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Vaidik Trivedi
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Technology providers are examining equipment lender and dealer perspectives to fully unlock the potential of AI and establish long-term partnerships. Nearly 70% of financial services firms reported AI-driven revenue growth in 2024, with most seeing at least 5% to 10% increases, according to market research firm Statista. AI investments in financial services reached approximately $45 billion in 2024, up 28.6% from 2023. As AI […]
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Quinn Donoghue
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Capital One, JPMorganChase and Bank of America are responsible for 75% of all AI-related patent filings since 2023. What’s more, U.S.-based banks are outpacing global peers when it comes to AI patent filings and are responsible for 85% of AI related patent filings through 2023, according to a recent report from think tank Evident AI, which tracked 1,516 patents filed by 21 banks since 2023. While patents are not required to be made public by […]
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Vaidik Trivedi
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Mercury Technologies said today it applied for a national bank charter and federal deposit insurance, a move that would allow the fintech to operate as a regulated bank and expand its product offerings under direct federal oversight. The San Francisco-based Mercury said it submitted an application to the Office of the Comptroller of the Currency for a […]
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FinAi News, AI-assisted
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Red Rocks Credit Union teamed up with Interface.ai to develop an AI agent for the credit union’s call center. Since the launch of Roxie, the credit union’s AI agent, just over two weeks ago, the agent has handled 10% of customer calls end-to-end, Chief Executive Darius Wise told FinAi News. Although Roxie is handling call volume, the $330 million, Denver-based credit union does […]
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Whitney McDonald
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AI-driven personalized banking services are becoming table stakes for customer growth and retention. “We’re seeing strong demand from banks and credit unions for deeper personalization, and it goes beyond only retaining clients,” Udi Ziv, chief executive at behavioral banking service provider Personetics, told FinAi News. “Today, financial institutions aren’t just competing with each other, they’re competing with the digital experience consumers get from every other app on […]
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Vaidik Trivedi
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Thread Bank has raised $30.5 million in a funding round to support the digital bank’s growth. “This additional funding will enable Thread to continue to scale, grow new and existing partnerships, and continue to be a leader in the embedded banking market,” Thread Chief Executive Chris Black told FinAi News. “Underpinning each of these objectives is a requirement for innovation, efficiency and transparency.” “Thread’s usage of AI — and that of the […]
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Whitney McDonald
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If you lead a bank today, you are almost certainly hearing some version of the same message from every direction: “We need an AI strategy.” “Our competitors are already using LLMs.” “We can automate entire functions with gen AI.” Boards are asking about it. Regulators are asking about it. Vendors are promising it. And inside your own shop, ambitious […]
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Jim McCarthy
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Finastra is looking to help its bank clients streamline their mortgage lending processes with AI with multiple lending solutions. The London-based fintech has launched multiple AI-driven solutions including Loan IQ and LaserPro and is seeing banks gain efficiencies with its offerings, Andrew Bateman, executive vice president at Finastra’s lending business unit, told FinAi News. Loan IQ helps banks track their existing loans; LaserPro allows financial institutions to manage documentation and compliance on one platform, Bateman explained. “To understand the impact, you need to look at loan closure rates and the time […]
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Vaidik Trivedi
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Finastra is looking to help its bank clients streamline their mortgage lending processes with AI with multiple lending solutions. The London-based fintech has launched multiple AI-driven solutions including Loan IQ and LaserPro and is seeing banks gain efficiencies with its offerings, Andrew Bateman, executive vice president at Finastra’s lending business unit, told FinAi News. Loan IQ helps banks track their existing loans; LaserPro allows financial institutions to manage documentation and compliance on one platform, Bateman explained. “To understand the impact, you need to look at loan closure rates and the time […]
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Vaidik Trivedi
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Pathward is rolling out AI tools to drive efficiency and improve its lending functions. Microsoft Copilot was introduced six to eight months ago and has driven productivity operational excellence while reducing costs, Chief AI, Data and Analytics Officer Laiq Ahmad told FinAi News. Copilot is helping the Sioux Falls, S.D.-based bank with content generation, document summarization, software development, Ahmad said. The bank eventually plans to add more gen AI capabilities and tools. Gen AI tool is able to perform intern level activities at Pathward and is not at the […]
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Vaidik Trivedi
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Citi is looking inward to identify and develop new AI use cases and deploy existing AI tools within the organization. Citi has launched two internal programs this year, AI Champions and AI Accelerators, Payal Jain, head of application engineering and platforms at the bank, told FinAi News. The programs, comprised of more than 4,000 Citi colleagues globally, “help teams adopt tools, navigate, troubleshoot and share best practices,” Jain said. The bank has 229,000 full-time employees, according to its third-quarter earnings report. […]
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Vaidik Trivedi
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Enova’s $369 million acquisition of Grasshopper, announced Dec. 11, is expected to boost the digital bank’s innovation efforts. “Enova’s technology and data and analytic capabilities, especially around lending, will accelerate Grasshopper’s product innovations in small business and consumer lending,” David Fisher, Enova’s chief executive, told FinAi News. Accelerating lending capabilities was already on the digital bank’s roadmap, Steve Kerr, chief credit officer at Grasshopper, […]
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Whitney McDonald
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BBVA is giving almost all of its staff access to OpenAI’s artificial intelligence tools after expanding its partnership with the technology firm. The Spanish banking group said its more than 120,000 workers will be able to use ChatGPT Enterprise, following a pilot with 11,000 staff that found it saved three hours per week on routine […]
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Bloomberg News
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