Deutsche Bank has entered a global licensing agreement with cloud‑native fintech Thought Machine, adopting its Vault Core platform to modernise its retail banking operations. This move reflects a broader push among major banks to upgrade legacy systems and…
Continue reading Deutsche Bank partners with Thought Machine as UK budget tax plans loom over banksKey developments: A wave of market anxiety has surged as reports confirm that Chancellor John Healey plans to raise taxes on UK banks in the upcoming October budget, a move intended to finance war‑related public‑finance shortfalls. The prospect…
Continue reading UK Budget Tax Raid Looms Over BanksKey developments: – **AI model training on sovereign cloud** – Starling Bank announced it is the first UK bank to train an artificial‑intelligence model on a sovereign‑cloud platform, positioning itself at the forefront of secure, regulator‑friendly AI use…
Continue reading Digital Banking Accelerates with AI‑Driven InnovationsKey developments show the accelerating pace of AI integration in banking, juxtaposed with growing regulatory caution. Starling Bank has become the first institution to train an AI model on the UK sovereign cloud, signaling a push for greater…
Continue reading Starling Leads AI Adoption as Citi Tightens AI Access ControlsRamp’s latest funding round lifted its valuation to $60 billion, underscoring the rapid scale of digital‑first banking platforms. The milestone arrives alongside a strategic collaboration between Mastercard and BVNK, which unifies fiat and stable‑coin settlements in a single global…
Continue reading Ramp Valuation Soars to $60bn as Mastercard‑BVNK Partnership Expands Crypto‑Linked PaymentsThe payment‑technology sector posted a series of high‑profile moves this week. Ramp, a spend‑management platform, announced a new $60 billion valuation, underscoring the premium investors are placing on integrated expense‑control tools for enterprises. At the same time, Mastercard is…
Continue reading Ramp reaches a $60 billion valuation as payments firms accelerate crypto‑linked and asset‑backed offeringsKey developments: Recent analysis by ReliaQuest shows attackers are increasingly leveraging compromised identities—using phone calls, Microsoft Teams messages, and cloud‑account takeover—to bypass password resets and maintain access, with domain account abuse accounting for 29.6% of incidents. At the…
Continue reading Identity‑led intrusions and phishing kits fuel surge in identity‑theft crimes, authorities urge rapid responseKey developments: A new ReliaQuest analysis shows that identity‑led intrusions – where attackers hijack legitimate user accounts – have become the dominant attack vector, with phone‑based social engineering and compromised cloud accounts used to maintain long‑term access. At…
Continue reading Identity theft spikes to $47 billion in losses as attackers shift to identity‑led intrusions and massive phishing kitsKey developments: The Federal Trade Commission confirmed that text messages have become the leading entry point for fraud, topping all other contact methods in 2025 and contributing to a historic $15.9 billion in total fraud losses. 2024 alone saw…
Continue reading Text Scams Surge, With AI‑Powered Attacks Driving Record LossesRecent FTC testimony revealed that text messages are now the leading way fraudsters reach Americans, accounting for the highest number of fraud reports in 2025 and a record $15.9 billion in total losses. The problem is growing fast—2024 saw…
Continue reading Text‑Message Scams Hit Record $15.9 Billion in Losses as AI‑Driven Schemes Surge
