Block Crosses $200B in Lending, Cementing Its Role as a Financial Super-App
Block has now surpassed $200 billion in cumulative lending across Square, Cash App, and its broader ecosystem, underscoring how embedded finance is scaling at enterprise level. The milestone highlights Blockโs ability to extend credit seamlessly to consumers and SMEs using transaction data rather than traditional underwriting. It also reinforces Jack Dorseyโs vision of Block as an integrated financial services platform rather than a payments-only company. As lending becomes a core revenue driver, Block is positioning itself alongside banks while retaining fintech agility. The scale achieved signals growing trust in alternative credit models. For the wider fintech sector, this marks a clear validation of embedded lending at global scale.
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๐๐ก๐ ๐๐ซ๐๐ก๐ข๐ญ๐๐๐ญ๐ฎ๐ซ๐ ๐จ๐ ๐จ๐ซ๐๐ก๐๐ฌ๐ญ๐ซ๐๐ญ๐๐ ๐ฆ๐ฎ๐ฅ๐ญ๐ข๐๐ ๐๐ง๐ญ ๐ฌ๐ฒ๐ฌ๐ญ๐๐ฆ๐ฌ ๐ข๐ง ๐๐๐ง๐ค๐ข๐ง๐
The decision-making layer is the brain of the AI-first bank. It orchestrates thousands of AI-driven decisions that affect customers and employees across the full product and service life cycle, from product recommendations to credit approvals and fraud detection.
Traditional predictive AI models perform well with structured data and clearly defined problems. However, they struggle with unstructured data, nonlinear tasks, and scenarios that require multistep reasoning and coordination. Examples include preparing a credit memo based on multiple customer interactions and documents, or coaching a low-performing salesperson using performance data and context.
Orchestrated multiagent systems represent a major step forward for this layer. They consist of multiple AI โagentsโ that function like virtual coworkers. Enabled by advances in generative AI, these agents can plan workflows, reason through complex problems, and act by using digital tools.
While still early and not yet ready for large-scale enterprise deployment, multiagent systems are gaining attention due to their potential. When combined with predictive models and digital tools, they could reshape core banking domains, driving productivity gains and enabling more engaging customer and employee experiences.
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Multiagent systems automate complex decisions and workflows through two core layers:
-> The AI orchestration layer manages task planning and workflow execution. These orchestrators are designed to achieve specific goals by coordinating actions, making decisions, and leveraging internal data, tools, and other AI agents. Over time, they are expected to power copilots for both employees and customers. For example, a credit manager copilot could orchestrate the entire loan approval process, not just answer questions. Human oversight is still required today, but the goal is increasing autonomy.
-> The AI agent layer consists of specialized agents focused on specific tasks. These agents are powered by LLMs and trained using domain-specific data and human feedback. For instance, a policy agent can recommend loan terms based on internal credit policies, while a collateral inspection agent can analyze documents and images submitted by borrowers. Paired with computer vision tools, these agents can detect issues such as manipulated images or fraudulent collateral.
Curated News
๐ณ Payments
PayPal Adds Free DIY Tax Filing for Debit Card Users
PayPal has launched free do-it-yourself tax filing for PayPal Debit Card customers, expanding its value proposition beyond payments. The move strengthens customer stickiness while positioning PayPal as a broader financial hub for everyday money management.
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Argentinian Payments Fintech Pomelo Raises $55M
Pomelo has secured $55 million in funding to accelerate product development and regional expansion across Latin America. The raise reflects continued investor confidence in modern card issuing and payments infrastructure in emerging markets.
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TreviPay Launches Pay-by-Invoice via Visa Credentials
TreviPay has introduced Pay by Invoice for issuers, enabled by Visa Credentials technology. The launch modernises B2B payments by combining invoice-based workflows with card-network infrastructure.
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๐ฆ Banking
Lloyds Banking Group Targets 100% AI Literacy by 2026
Lloyds has launched an AI Academy with the goal of achieving full AI literacy across its workforce by 2026. The initiative signals how major banks are prioritising internal capability-building to safely scale AI adoption.
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HSBC Selects Harvey AI for Legal Operations
HSBC has chosen Harvey AI as its legal AI platform, marking a significant step in automating legal research and compliance workflows. The move reflects accelerating AI adoption within tier-one global banks.
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๐ผ Fintech
UK Fintech Stream Raises $90M to Recover Lost Pensions
Stream has raised $90 million to tackle the UKโs ยฃ31 billion lost pensions problem while expanding into the US. The funding underscores rising demand for workplace finance and long-term savings infrastructure.
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AAZZUR Secures ยฃ2M to Scale Embedded Finance
Embedded finance platform AAZZUR has closed a ยฃ2 million funding round to expand its solutions for brands and digital platforms. The raise highlights continued momentum in infrastructure-led fintech models.
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Alibaba Backs Instapayโs E-Wallet Expansion
Alibaba is supporting Malaysian fintech Instapay to scale its e-wallet offering. The partnership reflects big techโs continued strategic interest in Southeast Asiaโs digital payments growth.
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๐ช Crypto
Bitcoin Slides Below $90K Amid Trade War Jitters
Bitcoin fell below $90,000 as crypto stocks dropped amid renewed US trade war uncertainty. The move highlights how macro and geopolitical factors continue to drive crypto market volatility.
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Crypto Scam Drives Ethereum Transactions to Record High
A large-scale crypto scam unexpectedly pushed Ethereum transaction volumes to an all-time high. The incident highlights ongoing security challenges despite growing network usage.
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Currency.com Partners with Zodia Markets for Institutional Liquidity
Currency.com has secured a partnership with Zodia Markets to enhance institutional-grade digital asset liquidity. The deal reflects increasing institutionalisation of crypto trading infrastructure.
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๐ WealthTech
Trust Bank Singapore Launches Fractional US Stock Trading
Singaporeโs Trust Bank now offers fractional trading for US stocks and ETFs. The move lowers barriers to global investing for retail customers in Southeast Asia.
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โ๏ธ Regulation
UK MPs Question Accountability for AI Failures in Finance
UK lawmakers are probing who is responsible when AI systems fail in financial services. The discussion underscores growing regulatory focus on accountability as AI adoption accelerates.
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FCA Opens New Round of AI Live Testing
The FCA has opened applications for its next AI Live Testing cohort. The initiative supports innovation while helping regulators understand real-world AI deployment risks.
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๐งฉ Other
UK Launches Centralised Fraud Reporting Service
The City of London Police has launched a new fraud reporting service to streamline how financial crime is reported and investigated. The initiative aims to improve response times and data quality.
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LuxSE Acquires ESG Analytics Unit from Tetrao
Luxembourg Stock Exchange has acquired Tetraoโs ESG data analytics unit, strengthening its sustainable finance capabilities. The deal reflects rising demand for high-quality ESG data in capital markets.
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