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payments industry
Trends
- 1AI executive calls industry's rise 'largest theft of labor in history'●AI exec: We may have pulled off “the largest theft of labor in human history.”
A tech executive has reportedly described the AI industry's use of creative and intellectual work as possibly 'the largest theft of labor in human history.' The remark surfaced through documents released in a copyright lawsuit, revealing private doubts among tech leaders about training AI models on human-created content without permission or payment.
- 2Citi CEO Jane Fraser calls for central banks to operate 24/7●Citi’s Fraser: ‘We’re still waiting for central banks to operate 24/7’
Citigroup chief executive Jane Fraser said the banking industry is still waiting for central banks to operate around the clock, arguing that payment infrastructure has not kept pace with markets that no longer stop at national borders or business hours. Her remarks add to a wider debate among bankers over modernising settlement systems, faster payment rails and the role central banks should play in instant, always-on finance.
- 3Purple Group launches embedded finance arm Hello Purple●Purple Group launches embedded finance division Hello Purple The group is packaging its own technology as an offering to
Purple Group has launched Hello Purple, a new embedded finance division that packages the group's in-house financial technology as a service for fintech developers. The move lets other companies build Purple's banking and payments capabilities directly into their own products, and the announcement is drawing attention across the fintech and banking sector as embedded finance continues to grow as a business model.