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.
Read full story →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.