AGP Executive Report
Last update: 34 minutes agoWise Growth: Wise’s Q2 FY27 revenue rose 21% year on year to $739.1m, as active customers climbed 20% to 12.5 million and cross-border payments grew. Banking Resilience: The Bank of England and IMF warned that a major cyberattack disrupting payments or access to deposits could damage trust in the financial system. AI in Finance: Starling is building a banking-focused AI model with Nvidia, trained on 15 billion anonymised transactions in a UK sovereign cloud, with fraud detection first in line. The FCA, meanwhile, plans to use AI in supervision but says it will not introduce a separate AI rulebook. Economy and Budget: UK GDP grew 0.1% in August, beating forecasts but slowing from July; production drove growth as services were flat and construction fell. Chancellor John Healey has signalled a possible bank tax increase ahead of the Budget. Crypto Rules: The FCA has finalised guidance on which crypto activities fall within its regulatory perimeter, ahead of an authorisation application window for firms.
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