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Evident AI Index named JPMorgan Chase the world's most AI-advanced bank, citing its deep integration of AI across operations. This sets a new standard for global banks and fintechs, pushing them to accelerate AI investments to remain competitive in efficiency and customer experience. Rivals now face increased urgency to deliver AI-driven products and automation.
Plaid launched new AI models to help financial firms improve lending decisions, detect fraud, and manage payment risk. Banks and fintechs seeking to strengthen risk controls and comply with evolving regulations are likely to adopt these tools quickly, raising the bar for open banking and analytics competitors. Plaid’s move intensifies the race for advanced risk management solutions.
Source: FinextraRevolut is seeking a banking license in the Philippines as part of its Southeast Asia expansion, directly challenging local banks and fintechs for digital deposits and payments. This move signals a shift as more international fintechs target regulatory approval in the region, prompting incumbents to accelerate digital transformation and defend market share.
Source: FinextraCrypto exchange OKX secured investment from Circle, Ripple, and Standard Chartered, raising its valuation to $25 billion. This support boosts OKX’s credibility and signals growing institutional confidence in regulated digital asset platforms. Major exchanges like Binance and Coinbase are likely to pursue similar partnerships to strengthen their positions and expand payment capabilities.
Source: FinextraSpiko closed a $90 million Series B to expand its tokenized cash fund business and enter new markets. The funding enables Spiko to compete for institutional and corporate clients seeking programmable, onchain cash management. As tokenized assets gain traction, established asset managers and fintechs are accelerating their own product launches to keep pace.
Source: The Block“The first ATM, installed in 1967 in London, used paper vouchers instead of plastic cards and required a special code for each withdrawal.
Filed under: Payments History · The Long Memory
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