OpenAI is taking ChatGPT to Wall Street
Hey FinTech Fanatic!
ChatGPT is about to become part of the banking team.
OpenAI has launched ChatGPT for Financial Services, a new version of its AI tool built specifically for investment banks and financial institutions.
It can pull together financial data from providers like PitchBook and Crunchbase and help bankers with everything from research and financial models to presentations.
OpenAI has developed the tool with Morgan Stanley and Evercore, so it’s being built around some pretty real-world banking use cases.
Much of that work currently sits with junior bankers.
AI could now take on more of the repetitive research and modelling, giving bankers more time for the work that actually requires human judgement.
But it could also change what the traditional junior banker role looks like.
And Wall Street is only getting started with AI.
Here’s what else is happening in FinTech 👇
Back tomorrow with more!
Cheers,
HOW FINTECH PERFORMED LAST WEEK
📈 A snapshot of last week’s stock moves across public FinTechs:
FINTECH NEWS
🌍 A quarter of malicious breaches now involve AI in the attack chain, a 56% YoY increase per IBM's 2026 report, with Tuum highlighting the findings for the banking technology sector. Companies using AI in security operations cut breach costs by close to $2 million, yet one in four still lack those tools.
🇺🇸 OpenAI launches ChatGPT for Financial Services, a GPT-6 powered tool built with Morgan Stanley and Evercore. The product combines PitchBook and Crunchbase data to generate research, financial models, and presentations for investment bankers.
🇺🇸 Experian launches an AI-enabled decisioning platform bringing real-time underwriting and cash flow intelligence to its consumer marketplace. The platform gives lenders faster, more accurate credit decisions using live financial data.
🇺🇸 Cash App pilots a fee-free way for sole proprietors to sell goods and services, removing the need for a separate business account. Eligible sellers can tag customers and track all earnings in a dedicated hub inside their personal app.
🇮🇳 Spice Money launches an AI-powered financial assistant named Ojas for its agent network. Ojas is designed to help rural agents navigate financial products and serve customers more efficiently.
🇳🇬 Flutterwave brings the Dangote IPO online, enabling Nigerians at home and abroad to participate in the offering digitally. The integration means investors can apply, pay, and track their allocation entirely through Flutterwave's platform without visiting a broker. Read more
🇮🇳 Flipkart's Super.Money bets on AI agents to outdo bigger rivals, targeting a differentiated position in India's crowded digital payments and financial services market. The platform is building autonomous financial agents to handle tasks that traditional apps require manual input for.
PAYMENTS NEWS
🇮🇳 NPCI launches UPI Tap & Pay and AI-Powered 'My UPI', introducing new features for India's digital payments ecosystem. UPI Tap & Pay enables NFC contactless payments, while My UPI uses AI to deliver a personalised payment experience for users.
🇵🇭 Maya Visa wallet cards now support Google Pay in the Philippines, expanding contactless payment options for cardholders. Visa tokenization technology secures transactions, and the rollout covers shops, public transport, and tourist destinations across the country.
🇨🇩 Zoyk receives Banque Centrale du Congo authorization for Zoykpay as a payment aggregator in the DRC. The service connects businesses and financial institutions to multiple payment channels through a single platform, reducing integration complexity.
🇺🇸 PayPal keeping options open amid buyout rumors, CEO Enrique Lores says at the Goldman Sachs conference. After the board rejected a reported $53B bid from Stripe and Advent, Lores outlined a standalone turnaround with $1.5B in cost savings and $6B in buybacks.
DIGITAL BANKING NEWS
🇸🇪 Klarna launches a new global brand campaign across film, radio, outdoor, digital and social in the US, UK, Germany, Italy and Sweden. The campaign positions Klarna as one app that handles money admin so users can think about anything else.
🇬🇷 Eurobank outlines a €1 billion investment in digital banking, the largest technology programme in the group's history. The initiative covers AI, cloud, and a "phygital" model, with 96% of transactions already carried out digitally.
🇦🇷 Inter begins operating in Argentina, offering residents dollar accounts, peso transactions, and access to US stocks, ETFs, and Treasuries. The Brazilian bank partnered with Grupo BIND to target Argentines seeking dollar diversification.
🇺🇸 Nubank begins U.S. operations through Lead Bank, launching a no-fee Mastercard and Nu Global multicurrency account while its OCC license application remains pending. The FinTech is targeting up to 150 million unbanked or underbanked customers, starting with the Hispanic community.
🇦🇩 Revolut prepares to launch in Andorra, telling residents it is adapting its service for the principality. No launch date or details on available features have been confirmed yet.
🇮🇳 Revolut weighs India as a potential market for a full banking licence, according to the company's India CEO. The move would mark a significant expansion into one of the world's largest and fastest-growing digital banking markets.
🇿🇦 Sanlam launching its own bank, built by billionaire Patrice Motsepe's GoTyme. The South African financial services giant is entering digital banking with infrastructure developed by the GoTyme group, which already operates in the Philippines.
BLOCKCHAIN/CRYPTO NEWS
🇳🇬 Mastercard and Busha bring trusted digital asset transfers to Nigeria, simplifying crypto transactions for users. The partnership gives Nigerian users a more secure and streamlined way to move digital assets across the platform.
🇸🇬 DBS, OCBC, and UOB complete first live blockchain-enabled SGD transactions on Swift's ledger using tokenised deposits. The milestone demonstrates how shared-ledger technology could support round-the-clock interbank payments beyond traditional processing windows.
🇪🇺 Crypto exchange Bybit plans to launch a European super app combining bank accounts with stock and crypto trading. The Dubai-based firm holds an electronic money institution licence and a MiCA licence in Austria to power the rollout.
🇮🇹 UniCredit eyes a digital asset push with custody and brokerage technology. The bank is exploring infrastructure to offer clients direct access to digital asset services, including custody and trading.
🌍 OKX brings OpenAI and Anthropic bets to Europe as pre-IPO trading grows on its platform. European users can now access pre-IPO shares in leading AI companies through OKX's expanding trading suite.
🇧🇭 Binance Bahrain expands fiat access and funding options for eligible crypto users through its locally licensed entity. Users can now fund accounts via supported local fiat currencies with zero deposit fees on eligible channels.
🇵🇦 BingX Card rolls out to all eligible users, offering up to 5% cashback on everyday purchases and 20% on selected subscriptions. The card lets users spend crypto for daily transactions with rewards visible within days.
STABLECOINS NEWS
🇨🇴 MoneyGram launches a Stellar-powered stablecoin Visa card in Colombia, allowing users to spend USDC at any Visa merchant. Physical cards and regional expansion are planned as next steps.
PARTNERSHIPS
🌎 dLocal powers Nubank's expansion into new emerging markets, connecting global wallets to local payment rails. The partnership ensures money moves the way local users already expect in each market.
🇮🇳 Mastercard and City Union Bank unveil India's first one-credential experience for consumers and SMEs. The solution lets users authenticate payments with a single credential across multiple channels.
🇮🇳 Mastercard and Google Pay preview biometric payments replacing SMS OTPs, demonstrated at Mumbai's Global FinTech Fest. Eligible Mastercard cardholders on Google Pay will authenticate online payments via fingerprint or facial recognition using Mastercard's CDCVM technology, with rollout expected by end of 2026.
🇦🇪 First Abu Dhabi Bank and Mastercard unveil the UAE's first World Legend exclusive card, pairing bespoke design with luxury lifestyle benefits. The card targets high-net-worth customers and delivers a curated set of premium travel and lifestyle privileges.
🇮🇳 Paramotor partners with NSDL Payments Bank, Mastercard and TBX to expand across India's digital payments and gifting ecosystem. The collaborations will enable new gift cards, prepaid cards, and wider distribution of its platform.
🇨🇭 Nu partners with Sygnum to launch Nu Global, a multi-currency account using USDC and EURC as underlying digital dollars and euros. The product combines yield, global transfers, and crypto access inside a single app for cross-border users.
🇮🇹 BBVA launches its partnership with FC Internazionale Milano, becoming the club's shirt sponsor while unveiling new offers in Italy. Existing customers get up to 4.25% on new liquidity, and new customers receive 4% rate and 4% cashback for six months.
🇺🇸 Parafin and Tekion launch Pay Over Time for dealership B2B buyers. The collaboration brings flexible payment options to automotive dealership transactions through Tekion's platform.
🇺🇸 Chime adds NFL quarterback Jaxson Dart to its growing roster of sports partners in a multi-year deal spanning national advertising, content, and financial education. Dart previously joined Chime's Compound Combine series, and the partnership builds on that financial education foundation alongside existing deals with MLS and the WNBA's Portland Fire.
🇮🇳 Amazon Pay plans to expand insurance offerings in a broader financial services push in India. The payments platform launched health insurance with HDFC ERGO and is now considering travel insurance and other products as it evolves toward payments, credit, and savings.
🌏 Gate partners with Alpaca to expand multi-asset investing, adding US stocks, ETFs, IPO access, and tokenized stocks to its platform. The integration serves Gate's 6 billion plus user base seeking traditional and digital assets in one place.
🌍 TransferMate and Serrala partner to bring global payments into finance automation workflows. The integration allows businesses to trigger and reconcile international payments directly within Serrala's platform.
DONEDEAL FUNDING NEWS
🇬🇧 Zeal raises $10M to activate loyalty software on over four million payment terminals worldwide. The London-based company builds merchant intelligence for POS terminals and has signed acquirer contracts covering a two-year rollout.
🇺🇸 Intermezzo raises $10M for its payroll automation platform, founded by two Intuit veterans. The startup automates payroll for HCM platforms that lack localized capabilities across international markets.
MOVERS AND SHAKERS
🌍 Polymarket names former Amazon finance chief Warren Jenson as its first CFO, adding seasoned financial leadership to the prediction markets platform. Jenson previously served as CFO at Amazon and will oversee financial strategy as Polymarket scales globally.
🇬🇧 NatWest appoints former IKEA omnichannel chief Harsh Agarwal to lead customer experience at the bank. Agarwal joins from IKEA, where he led the retailer's global shift to integrated online and in-store shopping. Keep reading
🇬🇧 Afin Bank appoints Simon McClean as Head of Treasury and Regulatory Reporting to strengthen its finance function. McClean brings experience in treasury management and financial reporting to the newly established role. Read more
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