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Weekly News Roundup: 08/12

Welcome to our weekly news roundup, of headlines that caught our eye. We’ll bring you a weekly dose of some of the most interesting titles that have surfaced, with a particular focus on the topics of AI, fintech, traditional banks, and beyond.
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Join us and Unlimit BaaS Managing Director, Jovi Overo to go deeper on some of the biggest headlines in our industry.

  • Unlimit partners with UnionPay International [source: The Paypers]

Our partnership with UnionPay International is another addition to our numerous collaborations to drive business expansion into new global markets. Businesses are turning to Unlimit to leverage our payment infrastructure to process local currencies securely and efficiently. By removing payment borders and offering 1000+ payment methods globally, we’re helping businesses meet their customers’ needs. The Unlimit and UnionPay International partnership catalyses broader conversations around how we bring together the best of technology and finance to transform the industry.  – Jovi

  • Mastercard launches generative AI tool as retail assistant [source: TechCrunch]

The introduction of generative AI as a retail assistant by Mastercard speaks volumes about the transformative power of artificial intelligence. It highlights the growing importance of seamless, intelligent interactions in the retail space. As consumers navigate an increasingly digital marketplace, integrating AI into the retail environment is poised to redefine the way we shop, enhancing both convenience and personalisation. AI tools hold the promise of creating tailored and dynamic shopping experiences, ushering in an era where the boundaries between online and offline retail blur seamlessly. – Jovi

  • Barclays announces closure of more branches in the UK [source: Finextra]

The closure of more physical bank branches reflects the evolving financial landscape and its impact on communities. With the growing use of online and mobile banking, the closure of physical branches is unsurprising. Banks are redirecting efforts to compete with financial providers, investing in cutting-edge technologies, cybersecurity, and greater delivery of responsive financial solutions. However, there are broader considerations about ensuring that financial resources are still accessible so that no community is isolated in the wake of digital transformation. – Jovi

See you next week, back in the blog for your next weekly news roundup.

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