Grok Can Now See Your Finances Through Plaid
Hey FinTech Fanatic!
Your AI assistant is getting a little closer to becoming your financial assistant too.
U.S. users can now connect their financial accounts to Grok through Plaid, giving the AI access to their spending, savings, investments, and cash flow data.
That means you can ask Grok questions about your finances, build a budget, track where your money is going, or think through your financial plans — all with your own financial context behind the answers.
It’s an interesting step in the shift from fintech apps that show you your financial data to AI that can actually help you make sense of it.
And while AI is getting closer to the consumer’s wallet, Airwallex is highlighting the finance leaders helping high-growth startups manage theirs.
Let’s get into today’s FinTech stories. 👇 See you tomorrow!
Cheers,
INSIGHTS
💡 Airwallex: Startup Finance 30: Nominations Are Now Open. Airwallex has opened nominations for Startup Finance 30, an annual list recognising 30 finance leaders driving growth at ambitious, venture-backed startups. Anyone can nominate a finance leader or put themselves forward, with the final 30 selected by an independent committee of operating CFOs based on their impact, track record, and ability to help startups scale globally. Learn more and submit a nomination here
FINTECH NEWS
🇺🇸 Plaid connects SpaceXAI's Grok to financial data, letting U.S. users securely link accounts to the AI model. People can now get answers on spending, savings, investments and cash flow through Plaid's network.
🇺🇸 PayPal is laying off 251 employees at its San José headquarters as part of a multiyear restructuring. The company plans to cut 20% of its workforce over two to three years to save around $1.5 billion.
🇺🇸 Truist delivers 2 billion AI-powered proactive insights to consumer, small business, and wealth clients since 2023. The bank uses data, analytics, and AI personalization to help clients monitor cash flow, spot patterns, and act on financial changes.
🇯🇴 Egypt-born FinTech Valu officially launches operations in Jordan after receiving Central Bank approval under a specialised financing licence. The company offers consumer financing and BNPL plans of up to 60 months, building local merchant partnerships across retail, e-commerce, and education.
🇦🇪 Mal opens its global waitlist, bringing AI-native Islamic finance to users worldwide. The platform aims to make Sharia-compliant financial services more accessible by combining AI with Islamic finance principles for a global audience.
PAYMENTS NEWS
🇦🇪 NymCard receives in-principle approval from CBUAE for a Stored Value Facility licence. The approval marks NymCard's third licence with the Central Bank of the UAE, building on its existing Retail Payment Services and Open Finance licences.
🌍 Spondula launches mobile apps for iOS and Android, targeting one million users as its next milestone. The global payments network lets individuals and businesses send, receive, and hold funds using a portable payment identity called a Shandle for local and cross-border transactions.
🇿🇦 Samsung Wallet introduces QR code payments with Scan to Pay in South Africa. The feature, powered by EFT Corp, lets Galaxy users scan QR codes at over 600,000 acceptance locations for in-store and online purchases.
🇮🇳 PB Fintech's PB Pay goes live, launching as an RBI-licensed payment aggregator in India. The platform supports UPI, cards, net banking, wallets, EMI and recurring payment options under a single integration for merchants.
🇵🇹 Viva.com connects directly to Multibanco, becoming the first international bank linked to Portugal's national payment network. The integration gives merchants access to over 9 million MB cardholders and 7 million MB WAY users across Europe.
🇰🇷 BC Card launches Family Pay, a shared payment service letting family or friends use one payment method together. A representative approves each transaction individually, marking the first such feature from a Korean card issuer.
🇵🇭 BSP plans a one-year pause on registering new payment system operators in the Philippines. The suspension supports a holistic review of the licensing framework and tighter merchant traceability rules.
🇶🇦 Qatar Central Bank joins the AFAQ payments system, completing participation of all GCC central banks. Three Qatari commercial banks also joined, bringing total participating banks across the Gulf to 74.
DIGITAL BANKING NEWS
🇵🇭 UnionDigital Bank becomes the first institution to roll out SSS LoanLite in the Philippines. The micro loan program, integrated into the UD app, targets OFWs and qualified SSS members, offering loans from ₱1,000 to ₱20,000 with repayment terms of 15 to 90 days and an 8% annual interest rate.
🇭🇰 AEON launches Agentic Checkout, enabling AI agents to shop, check out and pay across e-commerce platforms like Shopify and Amazon. Powered by the AEON AI Card, agents complete purchases over Visa and Mastercard rails without exposing user credentials.
🇸🇬 DBS rolls out Chromo and TravelLah! cards targeting Gen Z spending habits in Singapore. Chromo automatically rewards cashback on a cardholder's top two spending categories each month, while TravelLah! offers Visa exchange rates with zero foreign exchange fees on overseas spending.
🇨🇭 Dukascopy Bank unveils AI-powered trading, 25,000+ stock CFDs, and a new flagship e-banking app. The Swiss online bank is expanding its trading and digital banking capabilities with AI-driven tools and a significantly broadened CFD offering.
🇶🇦 QIB introduces a new suite of features to its mobile app in Qatar. The update expands digital banking capabilities for customers of the Islamic bank. Read more
🇦🇺 Suncorp Bank will retire its brand by June 2027, migrating 1.2 million customers to ANZ. The move follows ANZ's completed $4.9 billion acquisition of Suncorp Bank in July 2024.
🇦🇺 People First Bank launches a new digital platform built on Backbase's banking operating system. The customer-owned bank, formed from the Heritage Bank and People's Choice merger, delivered six production releases in the first nine months of the partnership.
BLOCKCHAIN/CRYPTO NEWS
🇰🇷 South Korea plans to enable on-chain capital markets using Avalanche blockchain infrastructure. The initiative aims to bring tokenized securities and settlement onto public chain rails.
🇺🇸 Ripple signed a multi-year partnership with University of Florida Athletics, placing the XRP logo on the field at Ben Hill Griffin Stadium. The deal is reportedly worth $5 million a year, one of the largest field sponsorships in college football.
STABLECOINS NEWS
🌏 KuCoin Earn launches KCUSD, a new flexible yield product offering a 4% base APR. Users can subscribe using USDT, USDC or USDG with daily rewards and automatic compounding.
🇦🇪 UAE introduces new VAT conversion rules for cryptocurrency payments, clarifying how digital assets are treated for tax purposes. Businesses must now convert crypto transaction values to AED using the exchange rate at the time of supply for VAT reporting.
PARTNERSHIPS
🌍 Mastercard and Flowcart join forces to power secure card payments into social commerce in East Africa. The partnership enables merchants to accept card payments directly within social media platforms, targeting the region's fast-growing creator economy.
🇬🇧 Miles & More, Currensea and Mastercard launch rewards debit card for UK frequent flyers. The card links directly to customers' existing bank accounts and lets members earn miles on everyday debit spending at home and abroad across Lufthansa Group airlines.
🇭🇺 Klarna expands BNPL availability in Hungary, partnering with iStyle to offer interest-free installment payments. Shoppers can split purchases into three equal payments or defer payment for up to 30 days at no extra cost.
🇺🇸 Ramp announces a strategic collaboration with AWS to provide AI-enabled finance operations. AWS customers can now procure Ramp's platform directly through AWS Marketplace using committed spend.
🇸🇬 DBS and Citi partner to enable instant 24/7 cross-border USD payments using tokenized deposits via the Swift Digital Ledger. The first weekend transaction between Singapore and the U.S. settled in minutes instead of up to two business days.
🇦🇺 Adyen powers payments for Limitless Technology Group, the gifting e-commerce firm behind LVLY, Bloomeroo and Flower Chimp. The company brought over 10 online stores live across four markets within just one week by consolidating four payment gateways into one.
🇭🇰 Payment Asia, ShipAny and EasyStore sign a partnership to connect e-commerce, payments and logistics for SMEs. The collaboration aims to help merchants manage sales through to fulfilment across Hong Kong and Asia.
🇦🇺 Hello Clever partners with Banking Circle to power global payments for Australian merchants. The partnership gives Hello Clever access to Banking Circle's global payments infrastructure, enabling faster cross-border transactions and broader international reach.
DONEDEAL FUNDING NEWS
🇬🇧 Revolut backer Molten Ventures hits £175M first close of its Ventures Growth Fund targeting £350M. The British Business Bank committed a £75M cornerstone investment to back UK and European scale-ups from Series B onward.
🇦🇪 Phoenix Venture Partners leads $3.5M Pre-Series A in AI FinTech startup Sav. The UAE-based platform uses AI and open finance to help consumers save, invest, and build wealth across the GCC.
M&A
🇸🇦 Saudi Arabia's PayTabs Group acquires Amazon Payments MENA in a deal valued north of $100 million. The combined entity is expected to process more than SAR 150 billion annually, making PayTabs the largest MENA payments infrastructure provider.
🇸🇦 Salla acquires Paylink to expand its e-commerce payments capabilities in Saudi Arabia. The deal brings Paylink's payment infrastructure and merchant network directly into Salla's platform, strengthening its position as a leading e-commerce enabler in the region.
🇺🇸 BMO completes the sale of 138 U.S. branches to First Citizens Bank across eight states and select locations in three others. The transaction supports BMO's strategy to redeploy capital to markets with stronger long-term growth.
🇩🇰 Jyske Bank enters into an agreement to acquire Formuepleje, expanding its wealth management reach in Denmark. The deal would strengthen Jyske Bank's position in asset management by adding Formuepleje's investment expertise to its existing offering.
MOVERS AND SHAKERS
🇬🇧 Atom Bank founder Mark Mullen steps down as CEO after leading the digital bank since its launch. Mullen guided Atom through its growth as one of the UK's first app-only banks, and the board has begun a search for his successor to lead the next phase of the bank's development.
🇨🇦 TD Bank's COO Taylan Turan is leaving less than a year after joining the bank. Turan, who previously worked at HSBC, Barclays and Citigroup, joined TD in September 2025 to reduce complexity and accelerate growth.
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