The latest wave of bank charter activity is producing institutions that may share a federal regulator while bearing little resemblance to one another. Revolut wants a national bank that could take insured deposits, offer credit cards and make loans. Circle has received final approval for a national trust bank built around digital-asset custody and USDC The post FinTechs Are Shopping for Very Different Charters appeared first on PYMNTS.com.

Seven labs based in China have targeted Anthropic’s generally available Claude models in illicit distillation attacks, Anthropic said in a report released Thursday (Sept. 10). Unauthorized labs use illicit distillation to extract and mimic capabilities from frontier models, without having to invest the time, computational power and cost it would take to develop them independently, The post Anthropic Reports Chinese Labs Clone Claude Capabilities on Industrial Scale appeared first on PYMNTS.com.

The trillion-dollar question hovering around agentic commerce is why agents would hold money at all. After all, if a multinational eventually operates, say, 10,000 artificial intelligence agents buying software, booking travel, procuring inventory, managing advertising and negotiating with suppliers; then funding 10,000 separate accounts would reproduce one of corporate finance’s oldest problems at machine scale: The post AI Agents Need Permissioned Funding Sources. Not Company Bank Accounts. appeared first on PYMNTS.com.

OpenAI has introduced a tailored ChatGPT Work experience designed for financial institutions, the company said in a Thursday (Sept. 10) press release. ChatGPT for Financial Services is initially focused on investment banking and equity research, and it is designed to help bankers develop research, financial models and customized client materials. Its development was shaped by The post OpenAI Focuses On Investment Banking Ahead of Wider Financial Services Rollout appeared first on PYMNTS.com.

Cash App is piloting a new experience that helps eligible sole proprietors accept peer-to-peer payments and manage their earnings in their personal Cash App account, the company said in a Thursday (Sept. 10) press release. This experience does not require a separate business account and has no fees, according to the release. Eligible sole proprietors The post Cash App Pilots No-Fee Business Tools for Sole Proprietors appeared first on PYMNTS.com.

Instacart launched an artificial intelligence shopping assistant called Clementine on Wednesday (Sept. 9) for shoppers in the United States and Canada. It combines a customer’s purchase history with real-time store inventory to build a cart from a single message, like “high-protein easy dinners for two,” Instacart said. The assistant runs on 1.6 billion lifetime Instacart The post Instacart’s Clementine AI Turns One Message Into a Grocery Cart appeared first on PYMNTS.com.

Nu, which has built its digital bank in Latin America over the past 13 years, entered the United States with a full suite of products, the company said in a Thursday (Sept. 10) press release. Nu launched in the U.S. through a partner bank model on Tuesday, with its partner being Lead Bank. The strategy The post Nu Partners With Lead Bank to Launch Full US Banking Suite appeared first on PYMNTS.com.