Hello Fintech Friends,

Welcome to the 1,851 new readers who’ve joined us since last week. You’re joining 170,000+ other subscribers. Today's newsletter is brought to you by Solda.ai, replacing human sales agents at fintech companies with AI.

This was an exciting couple weeks for fintech content announcements –

🌴 The TWIF team is looking forward to joining Simon Taylor and the Brainfood team at the new conference he's putting together in Miami on November 19th and 20th, Fintech Nerdcon. Stay tuned for more :)

Fintech NerdCon

A unique event concept brought to you by Simon Taylor of Fintech Brainfood and friends.

🌉 And two more fintech conferences recently launched in San Francisco:

• Breaking the Bank, by Eric Newcomer, taking place on May 20th (stay tuned for a live TWIF podcast coming to you from the conference!)
• The Fintech Summit, hosted by Fiat Growth, taking place at the Golden Gate Club on June 17th.

🗽 And of course, our own conference on May 29th, Stablecon – the largest global stablecoin conference:

Stablecon

Stablecon

Please enjoy another week of fintech and banking news below.

(👍👎 Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm)

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🏦 Financial Services & Banking

​Visa unveiled Aric Risk Hub, an AI-based fraud prevention platform designed to protect banks, acquirers, and financial institutions against a broad spectrum of fraud and financial crime.

The Federal Reserve Bank of Kansas City reported that subprime credit card delinquencies declined for two consecutive months as of January 2025, coinciding with decreases in both subprime credit card purchases and annual percentage rates.

The Zelle mobile app will no longer let you transfer money. It is now "dedicated to consumer education about scams and fraud."

This is fine 👍 Unidentified hackers accessed over 150,000 emails from more than 100 U.S. bank regulators.

The Department of Justice scaled back enforcement actions against crypto, announcing it would no longer prosecute exchanges, dealers, mixing services, and wallet providers for illegal activities committed by their users.

Bank of America reported that over 90% of its 213,000 employees used its AI virtual assistant.

Banco Central do Brasil announced plans to allow users of the Pix instant payments system to pay for their transactions in installments, with payees receiving the full amount instantly while payers have the option to pay in installments. ​

💬 Quote of the Week

💻 Fintech

🚀 Product Launches

​PayPal expanded its crypto offerings by adding Chainlink and Solana tokens, enabling PayPal and Venmo users to buy, hold, and sell them.

Kikoff introduced an AI-powered Debt Negotiation tool designed to assist users in negotiating with debt collectors, aiming to reduce the total amount owed and alleviate financial stress.

Tether Holdings SA will launch a US stablecoin targeting institutional clients, aiming to provide faster settlement for interbank payments.

Flutterwave launched the Send App in Ghana, facilitating international remittances directly into bank accounts and mobile wallets, including MTN Mobile Money, Telecel Cash, and AirtelTigo Money.

Topicus unveiled Akkuro, a composable banking platform designed to help financial institutions innovate, scale, and enhance customer service through a modular architecture that integrates with existing systems.

Solda AI has already replaced human sales agents at leading FinTech companies. Built for enterprises, we handle onboarding, upsell, cross-sell, KYC, and retention calls – scaling instantly. Solda.ai costs 40% less than human teams, yet outperforms them. Book a demo today.

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📰 Other News

Correction: Last week, I opined that Stripe may become a bank. ​Stripe applied for a banking license to process its own payments, reducing reliance on partner banks. This doesn't indicate an intention to become a bank or accept deposits.

​Crypto executives lobbied Congress to permit stablecoin issuers to pay interest to token holders.

Revolut is using artificial intelligence in its recruitment process. The AI conducted interviews with job candidates, matched CV content to job criteria, assessed interview performance, and provided feedback to interviewers.

Binance partnered with Worldpay to integrate Apple Pay and Google Pay into its fiat onramp ecosystem.

🤝 Partnership Corner

Adyen is partnering with LegalZoom to reduce complexity and administrative overhead by leveraging Adyen's Network Tokens and Intelligent Payment Routing for U.S. debit transactions.

👎 The Bad News

Solid, a banking-as-a-service startup formerly known as Wise, filed for Chapter 11 bankruptcy protection Solid had raised nearly $81 million from investors and was valued at $330 million as of August 2022. The company was embroiled in a lawsuit from FTV Capital alleging misrepresentation of financials in 2022.