From Black Friday through Cyber Monday (BFCM), Stripe processed more than 300 million transactions with a total payment volume of more than $18.6 billion. It was the largest ever four-day period on Stripe. A Stripe public microsite tracked these and a dozen other BFCM metrics in real-time, including the uptime of the Stripe API. During this period of intense activity, the Stripe API maintained availability greater than 99.999%, with a peak of 27,395 requests per second.

Dynamic Yield by Mastercard today announced Shopping Muse, an advanced generative AI tool that revolutionizes how consumers search for and discover products in a retailer’s digital catalog.   

Shawbrook Bank, expert providers of personal loans, residential and commercial mortgages, SME finance, and savings products, has implemented SAS® Viya® on Microsoft Azure to enhance its application of analytics, mitigate risk and better meet customers’ evolving needs.

OakNorth, the neobank for entrepreneurs, by entrepreneurs, has provided a £3m loan to Mayfair Group Investment, a leading developer, investor, and manager of healthcare, commercial, and residential property.

Brightside AI, a pioneering firm in the cybersecurity landscape, has recently marked a significant milestone by securing $1m in funding.

The company has successfully secured a substantial investment of $1 million from Social Links, a key player in OSINT infrastructure.

Rich Data Co (RDC), an AI-based credit risk decisioning firm based in Sydney, Australia, has raised AUD 28 million ($17.5 million) in a Series B funding round, powering its plans for a North American expansion.

The round was led by Australian heavyweight bank Westpac and cloud-based financial services platform nCino.

With the rise of ChatGPT, the topics of fraud and deepfakes entered the zeitgeist in 2023. Looking ahead to the next 12 months, there’s little sign of these developments slowing down. But what else will be important in the world of digital identity and identity verification in 2024?

1. The continuing rise and threat of generative AI

365 Business Finance has rebranded as 365 finance, launching a brand-new website to reflect the simplicity of flexible funding and to make the application process even quicker for SMEs in the UK. 

Businesses can now apply for up to £400,000 of funding with 365 finance’s Rev&U™ revenue-based finance product which offers all the same benefits as before, but is now more accessible due to a revolutionary AI-powered automated underwriting system.

Financial institutions are juggling increasing customer demands and a regulatory landscape that is going through a period of accelerated change. To manage this hefty combination, banks must digitally transform their processes, with RegTech providers offering the technology-powered solutions needed to forge ahead. 

Having successfully completed Visa’s FinTech Fast Track Programme, Mamo, a leading Fintech company based in the UAE, announced that it has now become a principal member of Visa in the UAE. This is a momentous milestone for the company that happens after signing a five-year partnership agreement with Visa across the MENA region and launching the Corporate Visa Card program earlier in 2023.