Executive Summary
This week, fintech and AI are making waves with banking innovations, quantum breakthroughs, and cybersecurity shake-ups. Standard Chartered unveils SC GPT, JPMorgan leads in quantum computing, and Amazon launches Nova Act, an AI-powered web agent. Meanwhile, fintech funding surges, and data breaches expose new vulnerabilities.
📩 Stay ahead of these fintech trends! Read our full report for expert insights and deeper analysis on the latest industry developments.
Trends in Fintech Verticals
Top Data Breaches
Russian Hackers Exploit CVE-2025-26633 via MSC EvilTwin to Deploy SilentPrism and DarkWisp: The threat actors behind the zero-day exploitation of a recently-patched security vulnerability in Microsoft Windows have been found to deliver two new backdoors called SilentPrism and DarkWisp.
The activity has been attributed to a suspected Russian hacking group called Water Gamayun, which is also known as EncryptHub and LARVA-208.
“The threat actor deploys payloads primarily by means of malicious provisioning packages, signed .msi files, and Windows MSC files, using techniques like the IntelliJ runnerw.exe for command execution,” Trend Micro researchers Aliakbar Zahravi and Ahmed Mohamed Ibrahim said in a follow-up analysis published last week.
Oracle under fire for its handling of separate security incidents: Tech giant Oracle is facing criticism for how it’s handling two seemingly separate data breaches.
At least one of the incidents appears to still be unfolding, despite Oracle reportedly denying a breach at all. The other relates to a breach of patient data under the tech giant’s healthcare subsidiary, Oracle Health.
On March 20, 2025, a netizen using the handle rose87168 claimed to have accessed at least two login systems for the US giant’s cloud customers, allowing them to swipe what’s said to be six million records – copies of subscribers’ encrypted single-sign-on (SSO) passwords, encrypted LDAP passwords, security certificates, and more.
Oracle quickly denied its networks and clients had been compromised.
“There has been no breach of Oracle Cloud,” a spokesperson told The Register on Friday, March 21. “The published credentials are not for the Oracle Cloud. No Oracle Cloud customers experienced a breach or lost any data.”
Latest Funding News
Temporal Technologies raises $146 million at $1.7 billion valuation: Temporal Technologies said on Monday it has raised $146 million in a fresh funding round led by investment firm Tiger Global, valuing the software firm at $1.72 billion.
The new capital will go into product development for Temporal Cloud and the company said it will continue to invest in research and development for artificial intelligence use.
Temporal’s last financing round was in February 2022, where it raised $100 million at a valuation of a little more than $1.5 billion. Monday’s round keeps the software company’s valuation almost flat.
The round, which brings the company’s total funding to $350 million, also saw participation from names such as Index Ventures, MongoDB Ventures and Sequoia Capital.
AI-powered safety platform Aura raises $140m in Series G funding: Aura, a leading provider of AI-powered online safety solutions for individuals and families, has completed its Series G funding round.
The company secured $140m in a mix of equity and debt financing. The round was led by Ten Eleven Ventures and Madrone Capital, with new backing from AT&T Ventures. Existing investors Accel, Warburg Pincus and General Catalyst also participated.
This marks Aura’s first capital raise since separating from Pango Group earlier in 2024 and values the firm at $1.6bn.
Charm Security raises $8m to launch AI-powered customer protection platform: Cybersecurity startup Charm Security emerged from stealth mode with $8 million in seed funding from Team8.
The startup aims to prevent scams before they occur by analyzing human vulnerability exposure and customer risk patterns, and through providing actionable insights and tailored mitigation strategies.
Mercury Financial hits $3.5bn valuation with $300m funding boost: Business banking fintech Mercury has raised $300 million in a Series C funding round led by Sequoia Capital at a new post-money valuation of $3.5 billion.
Sequoia was joined in the round by other new investors Spark Capital and Marathon, alongside existing backers Coatue, CRV and Andreessen Horowitz. The new valuation is more than double what Mercury previously achieved at the close of its $120 million Series B in 2021.
The LegalTech Fund Invests in Digital Executive Protection Leader BlackCloak:BlackCloak, a cybersecurity company which specialises in protecting high-profile individuals and executives from digital threats, has received an investment from The LegalTech Fund.
The amount of the investment was not disclosed, but it marks a strategic injection of capital from The LegalTech Fund, a prominent investor in companies that are reshaping the legal and professional services landscape.
BlackCloak offers a holistic Digital Executive Protection platform tailored to the specific needs of corporate leaders, board members, family offices and high-net-worth individuals. Its platform includes a concierge-style approach to cybersecurity, offering constant protection across personal devices, home networks and smart technologies.
Banking and Payments
Standard Chartered Rolls Out SC GPT, Advancing AI-Driven Innovation in Banking: Standard Chartered has launched SC GPT, a Generative AI (GenAI) tool, across 41 markets worldwide, reinforcing its commitment to innovation. Designed to enhance operational efficiency and client engagement, SC GPT marks a significant step in the Bank’s strategy to integrate AI into its business.
Set to empower over 70,000 employees worldwide, SC GPT is expected to improve the Bank’s operations and productivity; tailor sales and marketing efforts to increase revenue; advance software engineering with more automation; and scale how risks are measured, managed, recorded and reported.
Airwallex Joins Forces With Discover Global Network to Reduce Cart Abandonment: Airwallex has joined forces with Discover Global Network to widen payment acceptance options for businesses.
The move will allow Airwallex merchants to accept Discover, Diners Club International Cards, as well as “other domestic scheme cards” as payment method.
Discover Global Network has 345 million cardholders across over 200 countries and territories.
The integration is expected to reduce cart abandonment rates and increase customer satisfaction for businesses, the release said.
Merchants in regions such as Australia, Europe, Hong Kong, Singapore, and the UK can accept the mentioned cards.
Bank of England proposes hike to deposit guarantee for savers: The Bank of England has proposed raising the protection limit for savers in case a bank fails to 110,000 pounds ($142,300), it said on Monday.
The deposit protection limit is the maximum amount of money that is typically protected for savers should their bank fail and under the Financial Services Compensation Scheme (FSCS) has been capped at 85,000 pounds since 2017.
The BoE began examining an overhaul of the guarantee scheme in 2023, after the rapid collapse of the UK arm of Silicon Valley Bank raised questions about how to ensure faster access to cash when a lender collapses and about whether deposit protection was sufficient. BoE Governor Andrew Bailey said at the time that raising the limit was not the solution.
JPMorgan Just Beat Big Tech to a Quantum Breakthrough: A JPMorgan-backed experiment used quantum hardware to generate certified randomness—yes, really—which could one day power cryptography, simulations and whatever comes after the blockchain gold rush.
In what JPMorgan Chase calls a quantum computing milestone, the research team has solved a critical industry challenge by successfully generating certifiable randomness.
The Quantinuum team in Cambridge and London UK and the US, said the implications of the discovery were huge for quantum computing and technology at large.
A spokesperson said: “The time when quantum computing was years away from having societal and business impact is now over. Capping two years where Quantinuum introduced multiple technical and commercial advances to lead the quantum computing sector, we now introduce the first commercial application for quantum computers.”
India’s Axis Bank, J.P. Morgan roll out anytime dollar payments for clients: India’s Axis Bank has partnered with J.P. Morgan to offer real-time U.S. dollar payment capabilities to commercial clients in the country, facilitated by Kinexys, the U.S-based lender’s blockchain and digital assets unit.
This is the first instance where an Indian company will have the flexibility to make or receive dollar payments at any time, J.P. Morgan said in a statement on Thursday.
The collaboration with Kinexys will offer “significant value” to clients by streamlining payments, unlocking liquidity and adding further optionality on cross-border payments, Neeraj Gambhir, group executive & head – treasury, markets & wholesale banking products, at Axis Bank said.
Wealthtech
Robinhood moves into wealth management and private banking: Robinhood is rolling out wealth management and private banking services for investors with modest portfolios, as the trading platform looks to have a bigger influence on its users’ financial habits.
The company said on Wednesday it is launching ‘Robinhood Strategies’ — a wealth management service with a 0.25% annual fee, capped at $250, for its premium ‘Gold’ subscribers.
Users with as little as $50 in investments can access portfolios of exchange-traded funds managed by Robinhood’s investment experts. A $500 minimum investment will unlock access to individual stocks in the portfolios.
bfinance and Ortec Finance collaborate to solve complex investment challenges: bfinance is leveraging the power of GLASS, a dynamic financial analysis tool powered by Ortec Finance, to optimise strategic asset allocations and enhance the investment outcomes of its global client base.
Through GLASS’s optimisation functionality, bfinance is able to craft bespoke investment strategies that align closely with clients’ long-term financial goals, offering a more efficient route to wealth preservation and growth.
bfinance head of investment strategy Ruben Mutsaers said, “GLASS enables us to provide high-quality Strategic Asset Allocation and ALM analysis to a diverse global investor base. It supports the evaluation of strategic objectives within a stochastic, forward-looking framework, offering flexibility across multiple asset classes, currencies, and liability structures – allowing us to deliver detailed insights into the complex questions our investors face.”
Artificial intelligence
Amazon unveils Nova Act, an AI agent that can control a web browser: Amazon has launched a new AI agent designed to control a web browser and perform simple browsing tasks autonomously.
Currently available in research preview, Amazon says Nova Act is part of its efforts to deliver “real-world value” for all types of customers, including shoppers, sellers and advertisers – not just enterprises.
US-based customers with an Amazon account can start using the platform immediately, even though it’s not a full release, by visiting nova.amazon.com, where it can automate simple tasks like ordering food, making reservations, filling out forms or selecting calendar dates.
AI Agent Developer Manus Adds Mobile App and Subscription Plans: Chinese artificial intelligence (AI) startup Manus has launched a mobile app, new features and a premium subscription plan beta test.
The company’s new Manus mobile app is available in Apple’s App Store, according to the post. The app’s page in the App Store promises a general AI agent that “excels at various tasks in work and life, getting everything done while you rest.”
Its new features include longer context and better multimodal capabilities; being powered by Anthropic’s Claude 3.7 for all tasks, with no fallback to Claude 3.5; and a more stable sandbox, the post said.
Manus will maintain limited free access while also beta testing its premium subscription plan, per the post.
Charm launches AI platform to help banks combat scams: A new AI security platform, Charm, has launched with $8 million in seed funding to help financial institutions fight the rising tide of social engineering scams and human-centric fraud. The round was led by Team8, the venture firm that co-created Charm with its founders—cyber intelligence expert Roy Zur and former Microsoft data scientist Avichai Ben.
OpenAI peels back ChatGPT’s safeguards around image creation: OpenAI’s new image generator in ChatGPT can create Studio Ghibli-style visuals and now allows images featuring public figures and controversial symbols. This marks a policy shift aimed at offering diverse perspectives and user control while avoiding harmful content. The update is part of OpenAI’s broader effort to ease restrictions on content generation.
The tool maintains safeguards against misuse, particularly in depictions of children, but its new capabilities might spark additional controversy. This update occurs amid ongoing debates about AI moderation and potential regulatory scrutiny, highlighting the balance between innovation and ethical considerations in AI technology.
Blockchain and Cryptocurrency
World Network in talks with Visa for stablecoin wallet: Sam Altman’s cryptocurrency project World Network is in talks with Visa (V.N), opens new tab for a stablecoin payments wallet, CoinDesk reported on Monday citing a person familiar with the plans.
A deal will bring Visa card functionality to World Network wallets and allow stablecoin-based payments to merchants that are part of the payments giant’s network, the report said.
It underscores efforts by industry players to integrate crypto into the payments ecosystem, as the digital asset moves towards mainstream acceptance.
Galaxy Digital reaches $200m settlement over Luna token: Galaxy Digital Holdings, a digital assets focused financial services firm led by Michael Novogratz, is navigating an increasingly complex landscape of legal resolutions along with steady financial performance.
On March 27, the company agreed to a $200 million settlement with the New York Attorney General (NYAG) over its alleged role in promoting the now-collapsed Terra (LUNA) ecosystem.
This news dovetails with Galaxy’s announcement of its fourth quarter and full-year 2024 financial results, revealing a year of significant earnings but considerable challenges as well.
Africa’s Chipper Cash signs with Ripple for cross-border payments: Ripple and Chipper Cash have partnered to enhance cross-border payments into Africa using Ripple Payments, a crypto-powered solution for faster and more cost-effective transactions.
Chipper Cash, which serves five million customers across nine African countries, will leverage Ripple’s technology to enable seamless, 24/7 global fund transfers. This collaboration aims to reduce friction, lower costs, and improve efficiency in moving money into Africa.
“Our partnership with Chipper Cash marks a key milestone in the expansion of Ripple’s business in Africa. Consumers and businesses across the continent are increasingly recognising the potential of blockchain technology, and we are excited to bring our crypto-enabled payments solution to our partners in the region,” said Reece Merrick, Managing Director, Middle East and Africa, at Ripple.
Insurance Technology (Insurtech)
Protection Gaps Expected to Worsen Across All Lines of Insurance Business Through 2030 – Bain & Company: Bain’s report, Bridging the Protection Gap: Affordability, Access, and Risk Prevention, shows the challenges facing the insurance industry in matching price-to-risk profitably. This is in part due to changing risks such as the rise in natural disasters and cyberattacks, unaffordable property premiums, and the declining relevance of life insurance— especially among younger generations. Only one-quarter to one-third of the damage from natural disasters will be covered by insurance by 2030; for mortality, it could be less than half, Bain found.
“Over the past couple of years, we’ve seen rate increases in the property and casualty sector and interest-rate–driven annuity sales in the life sector. While capital and balance sheets remain reasonably strong, several challenges have emerged, and profitability has come under pressure for many lines of the insurance business. Insurers will need to be proactive and act now if they wish to navigate these impacts” said Sean O’Neill, head of Bain’s global Insurance practice.
79% of Commercial Insurers Prioritise Risk Digitisation, Cytora Survey Reveals: A new survey by Cytora, the digital risk processing platform, has highlighted risk digitisation as the leading technology priority for commercial insurers across North America and the UK.
The study, which surveyed 200 senior insurance industry leaders, found that 79% of respondents identified risk digitisation—including new business, renewals, claims, and mid-term adjustments (MTAs)—as their top investment focus over the next two years. This priority ranked above other technologies such as CAT models, CRM systems, and policy administration platforms.
The survey underscores the growing demand for streamlined processes, automation, and advanced analytics within the insurance sector. Among the key advantages of risk intake digitisation cited by respondents were revenue growth (22%), the ability to process higher transaction volumes (19%), and improved service for brokers and customers (17%). However, manual extraction of data from risk intake documents was identified as the biggest inefficiency, with 62% of industry leaders flagging it as a significant challenge. Other concerns included inconsistent risk processing workflows (55%) and a lack of unified data flow (52%).
Peak3 Revolutionizes Insurance with Accumulator Insurance Propositions: Peak3, a global leader in InsurTech, is redefining the insurance landscape through the launch of its accumulator insurance propositions for personalised coverage.
The accumulator model allows insurance coverage to build dynamically over time, according to FF News.
Customers accumulate micro-policies based on lifestyle events such as card transactions or fitness milestones. This approach fosters continuous engagement, offering a personalised and evolving protection model.
Traditional insurance models often struggle with low engagement, particularly among younger consumers and small business owners (SMEs).
Regulatory Technology (Regtech)
FDIC says banks don’t need prior approval for crypto activities: US banks no longer need to receive prior approval before engaging in crypto-related activities, says the Federal Deposit Insurance Corporation.
The watchdog says firms that it supervises can carry out “permissible activities” involving new and emerging technologies such as crypto and digital assets, provided that they “adequately manage” the associated risks.
The stance reverses the FDIC’s previous policy of requiring banks to clear crypto-related activities before carrying them out.
Australia revamps AML/CTF regime with tougher compliance rules and broader scope: Australia is moving to overhaul its anti-money laundering and counter-terrorism financing (AML/CTF) framework with a comprehensive new proposal aimed at aligning the country with global standards set by the Financial Action Task Force (FATF).
AUSTRAC, the nation’s financial intelligence agency, has opened a consultation following the AML/CTF Amendment Act 2024, signalling a shift toward a more streamlined and outcomes-based approach to financial crime compliance.
US regulator OCC withdraws guidance to banks for climate-related financial risk: The U.S. Treasury Department’s Office of the Comptroller of the Currency withdrew principles providing guidance to banks for climate-related financial risk, the financial regulator said on Monday.
The OCC has clarified that it expects all banks to implement robust risk management processes that are in alignment with their size, complexity, and the nature of their operational risks. This policy withdrawal signifies a shift in the regulatory approach to climate-related financial risk, potentially impacting how banks strategize their risk management going forward.
Upcoming Events
- NEW YORK FINTECH WEEK 2025
New York Fintech Week was designed to be an inclusive collaboration of the entire startup ecosystem. It’s a series of events highlighting different fintech initiatives and range from conferences and invitation-only roundtables to events free to the community.
Date: April 21st – 25th
More Details Here
🎙️ Tech Behind Fintech Podcast Highlights
Coming Up This Week
Join us on Friday, April 4th, 2025, at 12 PM EST for a compelling episode of Tech Behind FinTech featuring Daniel Faltyn Jr., a seasoned tech executive whose career journey spans global banks, innovative startups, and a recent role in Risk & Compliance at Google.
After more than 8,000 workdays, patents in cybersecurity, and decades of leadership in engineering and compliance, Dan made a bold move: he walked away at the top of his game. But this isn’t your typical retirement story. It’s about reclaiming time, redefining success, and making room for pumpkin carving with his daughter.
🔍 What You’ll Learn:
✅ Why high-performers are leaving tech leadership earlier than expected
✅ How Dan’s experience at JPMorgan, Goldman Sachs & Google shaped his path
✅ What “Die with Zero” and work-life clarity have to do with modern FinTech careers
✅ What the next generation of tech leaders can learn from stepping back
Live Show Links
Website: https://techbehindfintech.com/featured/the-fintech-exit-why-this-exec-retired-at-the-top-of-his-game
YouTube: https://www.youtube.com/watch?v=HO7Ia8In7vI
📌 In case you missed it – Latest Episode Highlights
Navigating AI Adoption in Banking: Strategies for Success
In the last episode of Tech Behind FinTech, host Nnamdi Osuagwu sat down with Svitlanka Sergiichuk, Co-Founder & CEO of Neofin, to discuss how no-code lending automation is reshaping financial services. Neofin is a platform that enables financial institutions to seamlessly launch and manage loan products with speed and efficiency, removing the burden of traditional lending infrastructure.
Svitlanka shares how Neofin has expanded to 11 countries, covering North America, Europe, and the Middle East, helping banks and fintechs transition from legacy systems to fully digital lending experiences. She also discusses the increasing need for automation in compliance and how a modular, API-driven approach is essential for scaling lending products globally.
Key Takeaways:
🔹 Legacy Lending is Holding Banks Back
Traditional loan systems are slow, expensive, and difficult to update. Many banks still rely on outdated tech stacks that hinder innovation and market responsiveness.
🔹 No-Code Lending Automation is the Future
Platforms like Neofin allow banks, fintechs, and credit unions to launch lending products in weeks instead of years—without heavy IT investment.
🔹 Scaling Lending Globally Requires Adaptability
Neofin’s expansion into 11 international markets highlights the need for lending platforms to be modular and adaptable to different regulatory environments.
🔹 Compliance is a Major Roadblock—But Automation Can Solve It
As regulations tighten, automated compliance workflows are becoming essential for risk management and operational efficiency.
🔹 Alternative Credit & Embedded Finance Are on the Rise
The future of lending is data-driven, AI-powered, and embedded in everyday transactions, making financing more accessible to businesses and consumers.
🔗 Watch the full episode now: https://techbehindfintech.com/featured/the-death-of-legacy-lending-how-modern-platforms-are-changing-the-game
Or stream it on your favorite podcast platform! 🚀
📩 Stay Connected
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