Finextra has released its latest summary of financial technology news, highlighting notable innovations, policy shifts, and business moves within the global fintech ecosystem. Among the recent headlines, Temenos has introduced a GenAI co-pilot designed for its retail banking core product, promising to help banks launch new services more efficiently. In another Artificial Intelligence development, fintech firm Aveni, supported by Lloyds and Nationwide, unveiled FinLLM, a domain-specific large language model tailored for financial services, reflecting the sector´s deepening investment in bespoke Artificial Intelligence solutions.
Elsewhere, major financial institutions and governments are making significant policy and investment decisions. Sweden´s central bank has taken a strong stance in support of cash payments, proposing new requirements for cash acceptance in essential goods transactions and enhancing bank responsibilities to handle cash, signaling a reverse in the country´s previously aggressive move toward a cashless society. Meanwhile, the UK government is accelerating its efforts to introduce stricter regulations on buy now, pay later (BNPL) services, describing ongoing lending practices as the ´wild west´ and promising imminent reform aimed at consumer protection.
Corporate activity continues at pace, with Revolut announcing plans to invest over €1 billion in France as it pursues a domestic banking license to expand its European operations. In a major divestment deal, Finastra will sell its Treasury and Capital Markets unit to an Apax Partners affiliate, a transaction valued at several billion euros including debt. The open banking trend also features prominently: a NatWest study reports that over 40% of UK businesses are eager to adopt open banking for its security and fraud prevention advantages, though knowledge gaps remain an obstacle. Additionally, the fintech sector has experienced significant funding news: Citi participated in a Series A investment for CrediLinq, a B2B embedded finance platform powered by Artificial Intelligence; Mastercard and MoonPay have partnered to mainstream stablecoin payments across markets; and sustainability concerns are addressed by GIST Impact´s partnership with Global Canopy to help financial institutions assess deforestation risk. These developments collectively underscore the rapid evolution and diversification of financial technology worldwide.
