Top 5 Stories in the Week of Fintech
Lloyds Banking Group has migrated its machine learning and artificial intelligence systems to Google Cloud's Vertex AI platform, positioning the UK's largest retail bank to expand its data science capabilities across customer services.
The partnership, announced at Google Cloud Next in Las Vegas, represents a significant shift for Lloyds as part of its strategic transformation to cloud-based technologies.
The group has transferred 15 modelling systems comprising hundreds of individual models from on-premise infrastructure to Google's cloud environment.
How AI Enhancements Propel Revolut's Talent Management
In today's digital finance environment, companies are leveraging technology to enhance their workforce capabilities while maintaining cost-effectiveness.
The rise of AI in finance technology offers tools to address these needs, presenting opportunities for improved efficiency in talent management and operational processes.
Revolut, a prominent player in the fintech industry, is tapping into these opportunities by integrating a suite of AI tools into its People platform.
This strategic move is intended to revolutionise the way businesses handle talent acquisition and development.
As the company expands its AI capabilities, it aims to streamline hiring processes and enhance employee development, catering to both internal needs and external market demands.
How Plaid Secured US$575m Funding at US$6.1bn Valuation
Plaid, the fintech company that provides infrastructure connecting bank accounts to financial applications, has raised US$575m through the sale of common stock at a post-money valuation of US$6.1bn, the firm confirmed yesterday.
The funding comes just two months after the company unveiled a comprehensive rebrand to reflect its expanded capabilities.
The valuation represents a significant reduction from the US$13.4bn the San Francisco-based company commanded when it raised US$425m in its Series D round in April 2021, led by Altimeter Capital.
FIS Study: Banks Increasing Trade Finance Tech Investment
According to the latest FIS Supply Chain Finance Benchmark Report for 2025, global banks are ramping up their investment in trade finance technology, with 55% planning to increase spending on trade finance platforms over the next 12 months.
The research, which surveyed 200 global banks, examines the changing landscape of supply chain finance and highlights how institutions are striving to enhance operational efficiency and customer experience.
This marks the fourth annual study into trade finance trends by FIS Supply Chain Finance (formerly Demica).
US-China Trade War: Record Tariffs Spark Global Concerns
The trade conflict between the United States and China has intensified dramatically.
Washington recently implemented a 104% tariff on Chinese imports, triggering an immediate response from Beijing, which countered with an 84% levy on American goods.
This latest escalation has heightened concerns about widespread economic consequences, with experts cautioning about increased risks to global supply chains, financial markets, and economic growth.
With tariffs reaching unprecedented levels, companies and consumers across both nations are preparing for what may become a prolonged and volatile economic standoff.
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