Block gets slapped šŸ’ø

and Lloyds is moving brains to Google Cloud

Welcome to Fintech Wire — your quick guide to what’s shaping finance and tech today.

What we’ll cover today:

šŸ’ø Why Block’s paying $40M (and still smiling)

ā˜ļø Lloyds is moving brains to Google Cloud

🧠 Fintech leaders say AI is no longer ā€œoptionalā€

Source : Retail Banker International

Block Inc., the fintech company led by Jack Dorsey (yep, the Twitter guy), got into trouble with New York’s financial regulator.

🚨 Breaking News:
Block’s Cash App unit will cough up $40 million for weak AML controls—aka bad money tracking—and violating crypto compliance rules.

⚔Wire Simplified –

  • New York’s DFS said Block didn’t do enough to prevent shady transactions.

  • Cash App had ā€œserious deficienciesā€ in monitoring suspicious activity.

  • Problems went back years—some flagged all the way back to 2021.

  • Block says it’s working on upgrades to fix these compliance gaps.

  • The $40M fine is part of a settlement—no court drama.

āœ”ļøStraight to the Point –
Block’s taking a $40M hit for sloppy compliance. Regulators are watching closely now—no more ā€œoopsā€ moments in fintech.

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Source : Wikipedia

Lloyds Banking Group, one of the UK’s biggest banks, is giving its AI a new home—hello Google Cloud!

🚨 Breaking News:
Lloyds is shifting its AI systems to Google Cloud to boost performance, scalability, and serve customers smarter and faster.

⚔Wire Simplified –

  • Lloyds wants to use AI to improve how it serves 26 million customers.

  • Google Cloud will help them scale AI tools and secure data better.

  • It’s part of Lloyds' Ā£3B tech investment strategy through 2026.

  • AI models will be used for fraud detection, customer support, and more.

  • Lloyds is already testing this setup internally with strong early results.

āœ”ļøStraight to the Point –
Lloyds is betting big on AI via Google Cloud to make banking smarter, faster, and less painful for you and me.

Money20/20 Asia 2025
Money20/20 is the world's leading, premium content, sales, and networking platform for the global money ecosystem. The event focuses on payments, FinTech, and financial services innovation for connected commerce.
Date: April 22–24, 2025  Location: Bangkok, Thailand

FinovateFall 2025
FinovateFall is a leading FinTech conference that showcases cutting-edge banking and financial technology through short-form demos and expert insights. The event also includes the Finovate Awards, recognizing companies driving FinTech innovation forward.
Date: September 8–10, 2025 Location: New York, NY, USA

Money20/20 USA 2025
Money20/20 USA is a premier event that brings together the global FinTech community to discuss the future of money, payments, and financial services. The event features industry leaders, innovators, and disruptors.
Date: October 26–28, 2025  Location: Las Vegas, NV, USA

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