Bank of Canada stories

OpenAI secures USD $122 billion in funding as Amazon, Nvidia and SoftBank back a rapid expansion in compute, enterprise tools and product plans.

New York fintech Spade raises USD $40 million in Series B funding led by Oak HC/FT to expand its real-time payments data intelligence tools.

LemFi gains Bank of Canada oversight under the new Retail Payment Activities Act, bolstering trust in its cross-border remittance services.

MariaDB moves to buy in-memory specialist GridGain in a bid to deliver sub-millisecond latency for agentic AI and real-time workloads.

Multiverse launches CompactifAI, a quantum-inspired app that runs compressed AI models offline on mobiles, targeting strict data regimes.

Despite billions invested in AI, financial firms see slow adoption as solutions must prioritise trust, transparency, and augment human judgement over automation.

JPMorganChase leads the Evident AI Index as banks boost AI investments, with returns expected to nearly double to USD $2 billion amid rising adoption.

Banks have accelerated the shift from AI research to practical tools, with top institutions rapidly deploying innovations in trading, fraud prevention, and customer service.

Banks across North America and Europe are failing to publicly report on their approaches to responsible AI development.