Razorpay Introduces AI Payments Foundation Model with Amazon Web Services (AWS)
Razorpay launched Vulcan, a transformer-based AI foundation model designed specifically for payments in India, developed with NVIDIA and AWS. The system targets improvements in reliability, security, and efficiency for digital transactions across India's payments infrastructure.
Credit Card Delinquencies Edge Up to 2.5% Across Top Banks
Credit card delinquency rates rose to 2.50% in July from 2.48% in June across seven major banks. The rate stays below the pre-pandemic average of 2.68% while charge-off rates declined to 3.42%.
SEC Proposes Rules to Streamline Capital Formation for Digital Asset Entrepreneurs
The SEC proposed "Regulation Crypto Assets" to establish a clear framework for certain investment contracts involving crypto assets. The rule will undergo a 60-day public comment period following its Federal Register publication.
Anthropic Beats OpenAI in Revenue for First Time
Anthropic's second quarter sales exceeded OpenAI's for the first time, while OpenAI reported 18% revenue growth from the previous quarter despite deepening losses. The specific revenue figures for both companies were not disclosed in the available text.
Mobile wallets gain traction in the UK
Nearly two-thirds of the UK population is now registered with at least one mobile wallet provider. Mobile wallets are gaining popularity despite cards remaining the dominant payment method in the country.
FBI Plans $88M AI Infrastructure Investment
The FBI plans to invest up to $88 million in artificial intelligence infrastructure, including servers and hardware. The bureau is accepting proposals for equipment procurement with a deadline set for next week.
Kraken Brings Multi-Asset Debit Card to US Market
A multi-asset debit card allowing customers to store money across more than 600 currencies and assets launched in the United States. Kraken introduced the Krak Card about eight months after its debut in the United Kingdom and the European Economic Area.
From connectivity to intelligence: How Plaid is teaching AI to understand financial behavior
Plaid introduced a two-layer foundation model architecture this year designed to analyze financial data and distinguish credit risk differences between borrowers with identical income and account balances. The transaction model component processes spending patterns to identify behavioral factors that traditional credit assessment methods cannot differentiate.
Would I lie to you? ANZ warns of troubling ‘scam-coaching’ trend
Criminals are training victims to bypass bank security through scripts and cover stories in a growing scam-coaching tactic. ANZ bank is warning customers about this trend where fraudsters provide detailed instructions on how to deceive bank staff during transactions.
HIVE Digital Technologies Secures 5-Yr AI Cloud Agreement, Boosting Annualized Revenue by $70M
HIVE Digital Technologies secured a five-year AI cloud computing agreement through its BUZZ subsidiary that will add $70 million in annualized revenue. The deal expands HIVE's artificial intelligence computing business beyond its existing renewable-powered digital infrastructure and Bitcoin mining operations.
X Money Wants to Make the Feed a Financial Front Door
X Money is testing whether a social platform can become a primary payment tool for consumers. The service faces competition from established digital wallets, stored merchant credentials, and dedicated payment apps already integrated into consumer payment routines.
Square Accelerates Push to Integrate Small Business Finance
Square is integrating its Credit Card refresh with payments, banking, credit, and bill management tools into a single platform. The company, led by product head Andrea Raj, aims to consolidate small business financial services within its ecosystem.
UPS Automates 90% of Daily Customs Clearances With AI Agents
AI agents now handle 90% of daily customs clearances for UPS packages entering the United States. The automation replaced manual review processes that previously caused multi-day border delays in package classification and error detection.
N3XT Unveils Tokenized Cross-Border Payments
Wyoming regulators approved N3XT's digital token for cross-border payments between customers and non-customers. The blockchain bank can now offer instant overseas transfers using its tokenized system.
AI Agents Can Move Money, But They Can’t Pay for Their Mistakes
AI agents can autonomously move money and conduct transactions without human intervention, but existing U.S. law cannot hold them legally responsible for errors or wrongdoing. This accountability gap represents a central legal challenge as businesses deploy autonomous systems capable of executing financial transactions independently.
Datavault AI Plans $94.5 Million CyberCatch Buy to Shield Organizations Against AI Attacks
Datavault AI is acquiring cybersecurity company CyberCatch for $94.5 million to add quantum-resistant cyber risk mitigation capabilities to its platform. The deal will integrate CyberCatch's AI-enabled continuous compliance and cyber risk mitigation platform into Datavault AI's Quantum Private offering.
Western Union Obtains New York Approval for Intermex Acquisition but Faces California Hurdle
Western Union obtained regulatory approval from New York for its $500 million acquisition of Intermex, though California regulators are presenting new obstacles that could delay completion. The deal still requires approval from California authorities before the transaction can be finalized.
Wispr Flow Raises $280 Million and Debuts Voice AI Model
Wispr Flow raised $280 million in Series B funding, bringing its valuation to $2 billion. The company debuted a new speech model designed to improve voice-to-text technology capabilities.
Blockchain Firm Fireblocks Enlists the Support of Former SEC Commissioner
Fireblocks has hired former US SEC Commissioner Elad Roisman to support its blockchain infrastructure operations. The company provides digital asset services including custody, wallets, stablecoins, trading, tokenization, and payments.
Asic warns of surge in deepfake scams
Generative AI is being used to create networks of deepfake websites and fake celebrity investment endorsements to deceive victims. Australia's Securities and Investment Commission reports a surge in these scams targeting investors through fraudulent online platforms.
Anthropic CEO Says He’s Not an AI Pessimist
Anthropic CEO Dario Amodei disputed claims that he is overly pessimistic about artificial intelligence's impact. Amodei responded to investor Gavin Baker's assertion that his warnings about AI-related risks have influenced market outcomes.
Goldman Sachs Says AI Spending Not Boosting Corporate Earnings
Corporate artificial intelligence spending has not increased earnings proportionally, with only 2% of S&P 500 companies quantifying AI effects in second-quarter reports. Of those companies measuring impact, 11% cited positive results from their AI investments.
Consumer Fintech Chime Explores Integrating Stablecoin Capabilities
Chime Financial is evaluating adding stablecoin-related tools to its mobile banking platform. The company is considering integrating digital asset capabilities previously limited to cryptocurrency trading into its consumer fintech services.
Ireland Launches National AML Strategy with Key Focus on Crypto Assets
Ireland launched its first national strategy to combat money laundering and terrorist financing on August 13, 2026, with specific focus on regulating cryptocurrency assets. The strategy was announced by Minister for Finance Simon Harris and establishes tighter controls within the crypto sector.
Cboe BZX Exchange Seeks SEC Approval for US 3x Bitcoin (BTC) and Ethereum (ETH) ETFs
Cboe BZX Exchange submitted a request to the SEC for approval to list 3x leveraged exchange-traded funds tracking Bitcoin and Ethereum. These ETFs would deliver three times the daily performance of their underlying assets.
New Arizona Law Delivers Lost Money Back to Crypto ATM Fraud Victims
Arizona's consumer protection law has enabled 35 fraud victims to recover $171,332 lost to cryptocurrency ATM scams through the state Attorney General's office. The recoveries represent complete reimbursements for residents who were defrauded at crypto ATMs.
Kalshi Suspends Sports Mention Markets Amid CFTC Review of Manipulation Risks
Kalshi removed its sports-related mention markets following a CFTC review examining manipulation risks in these contract types. The agency is investigating whether these markets are vulnerable to specific manipulation strategies tied to sports outcomes.
Italy’s Cheese Bank Finds Climate Risk Has a Rind
Hundreds of thousands of wheels of Parmigiano-Reggiano stored in climate-controlled warehouses in Emilia-Romagna serve as collateral for loans from Credito Emiliano. The cheese banking arrangement presents complicated climate risks to the Italian lender.
Mastercard Offers Brazilian Acquirers 50% Payout and Services in Will Bank Dispute
Mastercard proposed paying 50 percent of the amount Brazilian merchant acquirers demanded following Will Bank's collapse. The company also offered to provide services to the affected firms as part of the settlement proposal.