Bank of America is undertaking a major revamp of its credit card program, with artificial intelligence playing a central role. The goal is to leverage AI to drive profits and attract more customers to the bank's credit card offerings.
Despite recent contention over interest rates and transaction fees, credit cards remain firmly entrenched in the U.S. payments landscape. To capitalize on this ubiquity, Bank of America is undertaking a credit card revamp aimed at driving profits to new heights. A central force behind this overhaul is artificial intelligence. The bank plans to leverage AI […]
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Lloyds Banking Group announced that its use of generative AI generated £50M in value in 2025, and they have set a target of over £100M in value from 'next gen' AI by 2026. This includes rolling out an AI-powered financial assistant to their 21M users and launching an AI Academy to upskill their 67,000-strong workforce.
Fundamental, an AI lab, has emerged from stealth with a $255 million Series A funding round and a new foundation model called Nexus that is designed to analyze structured enterprise data, an area where traditional AI models often struggle. The company believes Nexus can reshape how large enterprises analyze their data by combining predictive AI with contemporary tools.
Sapiom, a startup founded by a former Shopify payments director, has raised $15 million to build a financial layer that allows AI agents to automatically purchase and access external software, APIs, and data services needed to power their applications. This aims to eliminate the backend infrastructure challenges faced by non-technical creators when trying to launch their AI-powered apps into full production.