This week in artificial intelligence (AI) news, as large language models (LLMs) near technical limits, the focus shifts to retrieval-augmented generation (RAG), which combines information retrieval with natural language generation, and Walmart is updating its distribution centers by introducing autonomous electric forklifts, marking a significant...
The head of the U.K.’s financial regulator announced plans to explore how big tech companies’ access to extensive data might lead to improved financial products and more options for consumers. The regulatory shift seeks to maximize artificial intelligence’s (AI’s) potential for innovation, competitive pricing and expanded options for consumers and businesses. The...
Bad things can happen to good companies. And with the news Friday (April 12) that instant money movement platform TabaPay is acquiring Synapse’s assets following the latter’s bankruptcy, operational resilience is increasingly top of mind for firms. Against a macro backdrop embattled by global pandemics and geopolitical tensions, the...
This week, an official with the Financial Conduct Authority (FCA), an agency tasked with overseeing firms and markets in the U.K., compared her job to that of a juggler. “Juggling is, at least metaphorically, a skill we regulators have to master,” said Sarah Pritchard, executive...
February 15, 2023
The U.K. has launched a long-awaited consultation aimed at regulating the BNPL sector. The eight-week consultation, which started Tuesday (Feb. 14) and was announced by the HM Treasury, comes two years after the government announced its intention to tighten rules around the use of interest-free buy now, pay later (BNPL) products and bring them into […]
December 30, 2022
In 2023, the U.K. will accelerate its divergence from EU payment and crypto regulations. Meanwhile, the EU is moving ahead with its own policy agenda and in 2023 will continue...
August 13, 2021
“Notoriously difficult and hard to implement.” That’s the initial feedback from the head of the Emerging Payments Association (EPA), Tony Craddock, on a new set of rules put forth by...
June 01, 2021
With news out this past week that the U.K.’s Financial Conduct Authority (FCA) has issued its second delay of PSD2’s implementation in six months — this time until March 2022...
May 08, 2024
The Financial Conduct Authority (FCA), the United Kingdom’s financial watchdog, has reportedly faced a backlash from the industry regarding its proposal to publicly disclose companies under investigation. Despite criticism from industry bodies and lawmakers, the FCA told the Treasury Committee Wednesday (May 8) that it remains committed to its initiative, Reuters reported Wednesday. The FCA unveiled its plans […]
April 15, 2024
The British government is reportedly readying legislation for stablecoins and crypto staking, exchange and custody. “We are now working at pace to deliver the legislation to put our final proposals for our...
March 26, 2024
The U.K.’s financial watchdog is warning social media influencers against making misleading financial services promotions. The Financial Conduct Authority (FCA) on Tuesday (March 26) issued guidelines aimed at social media advertising, telling influencers they...
March 05, 2024
The United Kingdom’s Financial Conduct Authority will investigate the use of personal guarantees by lenders for small business loans. The investigation was sparked by a “super complaint” from the Federation of Small Businesses,...
