FinTech Weekly - AI, Fintech, and Future - Issue #487

This week on the fintech show, host David Barton-Grimley and guests Kevin Fox of Thredd and Sophie Winwood of Foxe Capital discuss major industry developments. Topics include Apple's potential card deal with JPMorgan, a U.S. Senate push for tighter regulations on Banking-as-a-Service, and the sharp decline in fintech funding, down nearly 50% in H1. Additionally, Monzo introduces monthly payments via Apple Pay, Dutch neobank Bunq plans a 70% staff increase, and Pizza Hut in New York takes an unconventional approach by printing jobseeker CVs for delivery.

Ocean Protocol has partnered with Zero1 Labs, a decentralized AI platform, to enhance the performance and accuracy of AI solutions developed by Zero1 Labs' projects. Announced on Sept. 23, the collaboration will integrate Ocean Protocol’s robust data privacy and compliance tools, ensuring secure and compliant AI advancements within the decentralized community-focused ecosystem.

JPMorgan Chase & Co. intends to expand its operations in India, where investor confidence remains robust, according to top executives during their visit to the country.

Israeli regulator ISA has approved AI startup Bridgewise to launch a stock-picking chatbot in partnership with Israel Discount Bank, despite global concerns about AI's impact on financial markets. The chatbot, Bridget, will provide stock recommendations based on user queries and is set to expand to another bank’s investment platform soon. This marks a controversial step in the use of generative AI in retail investing, as regulators remain cautious about the risks.

LiveFlow, founded by former Revolut employees Anita Koimur and Lasse Kalkar, has raised $13.5 million to further its mission of automating accounting workflows. After meeting at Revolut, the pair co-founded LiveFlow, took it through Y Combinator, and raised a seed round in 2021. LiveFlow enables real-time syncing of financial data from accounting services, banks, and payment platforms, streamlining reporting and collaboration while reducing manual data transfers for accountants.

The Payments Association in the UK is advocating for a National Payments Plan to foster growth and innovation in the sector. In its Payments Manifesto 2025, the association urges UK authorities to conduct a swift and comprehensive review, resulting in the development of a clear National Payments Plan (NPP).

Generative AI (GenAI) is creating significant buzz across industries, promising to revolutionize workflows and tackle complex tasks. As an automation company CEO, staying updated on GenAI developments is key to our innovation strategy. However, despite its clear potential for driving efficiency, many C-suite executives remain hesitant, overwhelmed by the range of AI options and defaulting to inaction amid the uncertainty.