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Imagining the future of banking with agentic AI

Adapting to new and emerging technologies like agentic AI is essential for an organization’s survival, says Murli Buluswar, head of US personal banking analytics at Citi. “A company’s ability to adopt new technical capabilities and rearchitect how their firm operates is going to make the difference between the firms that succeed and those that get left behind,” says Buluswar. “Your people and your firm must recognize that how they go about their work is going to be meaningfully different.” The

Microsoft and Uber alum raises $3M for YC-backed Munify, a neobank for the Egyptian diaspora

Khalid Ashmawy remembers the first time he wired money home while studying in Europe. He had just received his monthly stipend as a master’s student in Stuttgart and wanted to send part of it back to his family in Cairo. It was usually a slow and expensive process, he recalled. A $400 wire transfer, for instance, could cost $40 in fees and take three business days to arrive. Years later, while working at Microsoft and Uber in the U.S., and even after founding a startup, that experience hadn’t

With India’s corporate banking lagging decades behind consumer fintech, TransBnk raises $25M to bridge the gap

While digitization has transformed banking for Indian consumers, corporate banking has been left in the slow lane — still relying heavily on clunky infrastructure, paper trails, and spreadsheet-heavy workflows. TransBnk wants to address that gap, and Bessemer Venture Partners has invested in the three-year-old startup in a $25 million round to accelerate its progress. Over the past decade, India has experienced a significant boom in consumer fintech, driven by transformative shifts such as the

HSBC resolves app and online banking outage

HSBC resolves app and online banking outage HSBC says it has now fixed an issue which left customers unable to access online banking or use its app in the UK, preventing some from accessing their accounts. Thousands of people reported problems on outage-checking site Downdetector since the issues first emerged at 11:00 BST on Wednesday. Five hours after the issue was reported by angry customers online, the bank now says the problem has been resolved. "We apologise to our customers who were i

HSBC apologises as app and online banking go down

HSBC apologises as app and online banking go down HSBC has apologised after customers were left unable to access online banking or use its app in the UK, preventing some from accessing their accounts. Thousands of people have reported problems on outage-checking site Downdetector since the issues first emerged at 11:00 BST on Wednesday. According to HSBC's service status website, customers can still access their accounts by phone and in-person, and card payments are unaffected. "We're really

Open Banking and Payments Competition

Much of the operation of the financial industry is legible to people outside of it. Your credit card works basically like you understand it to (excepting the occasional mythmaking about second order consequences). Debates about what terms banks are allowed to offer on credit cards are fairly straightforward and can be easily followed by non-specialists. But some issues are under the hood, and a societal debate about them doesn’t exactly wear its consequences on its sleeves. Consider the controv

Donald Trump Orders Crackdown on Politically Motivated ‘Debanking’

US President Donald Trump has ordered regulators to investigate the alleged refusal among US banks to supply accounts to customers on the basis of their political or religious beliefs. In an executive order signed Thursday, Trump accused federal banking regulators of presiding over an unlawful discrimination campaign under the guise of risk management, echoing allegations leveled previously by members of conservative groups and the cryptocurrency sector. “Bank regulators have used supervisory

Donald Trump Orders Crackdown on Politically-Motivated ‘Debanking’

US President Donald Trump has ordered regulators to investigate the alleged refusal among US banks to supply accounts to customers on the basis of their political or religious beliefs. In an executive order signed Thursday, Trump accused federal banking regulators of presiding over an unlawful discrimination campaign under the guise of risk management, echoing allegations leveled previously by members of conservative groups and the cryptocurrency sector. “Bank regulators have used supervisory

National Bank of Canada online systems down due to 'technical issue'

National Bank of Canada (Banque Nationale du Canada), the sixth largest commercial bank of Canada is currently experiencing a widespread service outage affecting its online banking and mobile app platforms. Social media reports suggest that the issues began earlier this morning, with customers encountering a "maintenance" message when attempting to access their accounts via online banking on web and banking app. Headquartered in Montreal, NBC (BNC) serves more than 2.4 million personal banking

The Convenience Trap: Why Seamless Banking Access Can Turn 2FA into 1FA

Multi-factor authentication (MFA) is the bedrock of modern digital security. Its principle is simple and powerful. As Wikipedia defines it, MFA is: an electronic authentication method in which a user is granted access to a website or application only after successfully presenting two or more distinct types of evidence (or factors) to an authentication mechanism. The key phrase here is distinct types of evidence. These factors are typically categorized as something you know (a password), someth

Stripe’s first employee, the founder of fintech Increase, sort of bought a bank

It’s an open secret in the fintech world that the founder and CEO of startup Increase, Darragh Buckley, has been trying for years to “buy a bank,” as one person familiar with the landscape told TechCrunch. A couple of weeks ago, he basically succeeded. He bought a big enough stake in Twin City Bank to trigger a public disclosure of the transaction by the Federal Research Board. Such share purchases are then subject to FDIC approval. Twin City is a small community bank in Longview, Washington,

Bitcoin rises, NYSE battles for Trump ETF, and crypto may be coming to mortgage next

The price of bitcoin rose again on Wednesday, reaching above $108,000 at an intraday high, as investors looked past the recent tensions in the Middle East and the stock market hovered near an all-time record. But the trading in cryptocurrencies was uneven, with ether and solana both slipping modestly in afternoon trading. Washington, D.C., figured in a major way in the latest crypto headlines. Fed Chair Jerome Powell spoke about crypto in his testimony before the Senate Banking Committee on W

Godfather Android malware now uses virtualization to hijack banking apps

A new version of the Android malware "Godfather" creates isolated virtual environments on mobile devices to steal account data and transactions from legitimate banking apps. These malicious apps are executed inside a controlled virtual environment on the device, enabling real-time spying, credential theft, and transaction manipulation while maintaining perfect visual deception. The tactic resembles that seen in the FjordPhantom Android malware in late 2023, which also used virtualization to ex