Financial Highlights from the Recent Week You Should Know About:
- AI IN FINANCE: OpenAI bets on financial AI agents
The next time you spin up Excel to do some financial modelling, you might have a pretty smart assistant doing the heavy work.
OpenAI has invested $14M(!!!) into startup Endex, an AI-agent that integrates into Excel. - FINTECH: RBC & BMO selling joint-venture payment processor
RBC and BMO’s joint venture payment processor, Moneris, is being sold.
Moneris is one of Canada’s largest payment processor over the last twenty-five years. The potential sale values the joint-venture at around $2 billion. - CRYPTOCURRENCY: Citigroup showing interest in crypto
Citigroup is the latest bank looking to dip its toes into the crypto waters by exploring the possibility of offering custody services for stablecoins. - COMPLIANCE: Fraudsters steal $1 billion from US bank customers
It’s estimated that fraudsters have stolen $1 billion from US bank customers using payment systems such as Zelle due to security vulnerabilities resulting in the banks behind the payment service being sued in New York.
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