FCA 🤝 Nvidia

What we’ll cover today:

💳 Walmart and Synchrony launch new credit cards

🤝 UK’s FCA partners with Nvidia to test AI in finance

📉 Why banks are scared of both credit card wars and compliance risk

Walmart Ditches Capital One, Launches Its Own Cards 💳

Walmart’s fintech arm OnePay is rolling out new credit cards with Synchrony, replacing its messy breakup with Capital One.

🚨Breaking News:
Walmart and Synchrony are teaming up to launch two new credit cards through OnePay’s app — one for all, one for Walmart-only.

⚡Wire Simplified –

• OnePay is Walmart’s in-house fintech startup (launched in 2021).

• It’s partnering with Synchrony to issue and underwrite the cards.

• Two options: a general Mastercard and a Walmart-only store card.

• If your credit isn’t great, you’ll be offered the store card instead.

• OnePay already offers debit, savings, P2P, and now BNPL via Klarna.

✔️Straight to the Point:
Walmart is building a financial empire inside its shopping app — cards, loans, savings, all wrapped in OnePay. Banks, watch out.

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UK Teams Up with Nvidia to Supercharge AI in Banks 🤖🇬🇧

The UK’s financial watchdog (FCA) is joining hands with Nvidia to help banks experiment with AI — safely and legally.

🚨Breaking News:
Starting October, banks can test AI tools using Nvidia tech in a new FCA ‘sandbox’ that keeps innovation within safe boundaries.

⚡Wire Simplified –

• FCA is launching a “Supercharged Sandbox” for early AI experimentation.

• Nvidia will power it with its AI software and fast GPUs.

• It helps banks who want to try AI but lack the tools or data.

• Privacy, fraud, and compliance are major concerns for banks using AI.

• HSBC called out the industry’s “success theater” in AI — lots of hype, little substance.

✔️Straight to the Point:
The UK is saying “go play with AI” — but play nice. With Nvidia’s muscle and FCA’s rules, this could get interesting.

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