UK Regulators Voice Concerns About AI’s Role in Financial Services
As more financial institutions deploy artificial intelligence for key functions such as credit assessments, a group of UK lawmakers has raised concerns that the industry may be unprepared to withstand a major AI-related incident. The lawmakers recently advised the Financial Conduct Authority and the Bank of England to implement AI‑focused stress tests that could help […]
PhotonPay Expands UK Local Payment Rails via New Collaboration with ClearBank
ClearBank, the enabler of real-time clearing and embedded banking, has announced a collaboration with PhotonPay, an AI-powered global digital financial infrastructure provider offering payment solutions to businesses worldwide. Through this collaboration, PhotonPay’s business customers will gain access to a wider range of financial services, including virtual accounts, GBP collections, payouts, and Confirmation of Payee (CoP) functionality. […]