News Nuggets | 12 October: CySEC Launches Instagram; OpenAI to Introduce Updates for Devs

<p>CySEC Launches Instagram
Page for Financial Literacy</p><p>The Cyprus
Securities and Exchange Commission (<a href="https://www.financemagnates.com/tag/cysec/" target="_blank" rel="follow">CySEC</a>) has launched an official Instagram
page to promote financial literacy. The new social media presence aims to
engage younger generations and provide valuable insight into financial
literacy and investor protection. CySEC plans to use this platform to empower
investors to make informed financial decisions.</p><p>“As the
world becomes increasingly interconnected through digital platforms, it is
crucial for regulators to engage with younger generations on the channels they
use most. Instagram, as one of the most popular social media platforms,
provides an excellent opportunity to interact with young people and investors
on financial literacy, personal financial well-being and investor protection,” a CYSEC spokesperson commented.</p><p>OpenAI to Introduce Major
Updates for Developers</p><p>Reuters
reported that <a href="https://www.financemagnates.com/tag/openai/" target="_blank" rel="follow">OpenAI </a>plans to introduce significant updates to make it
cheaper and faster for developers to build software applications based on its
AI models. The updates include the addition of memory storage to its developer
tools and new vision capabilities. These changes aim to attract more companies
to use OpenAI's technology and build sustainable businesses.</p><p>The
upcoming features are slated for unveiling at OpenAI's inaugural developer
conference in San Francisco, scheduled for 6 November, according to insiders
who requested anonymity. These enhancements aim to incentivize businesses to
leverage OpenAI's technology for creating AI-driven chatbots and
self-sufficient agents capable of executing functions without human oversight.</p><p>Marex Joins ASX as Newest
Futures Clearing Participant</p><p>Global
financial services platform <a href="https://www.financemagnates.com/tag/marex/" target="_blank" rel="follow">Marex </a>has become the newest Australian Securities
Exchange (ASX) member for futures clearing and trading. This move aims to
diversify the currently concentrated futures clearing market on the ASX,
offering more choices for wholesale investors in Australia. </p><p>Marex's
entry is part of its global strategy to expand its clearing services and
connect clients to global markets. The company, which opened its Australian
office in December 2021, has reported a growth of 89% in net revenue in the Asia
Pacific for the first half of 2023 compared to the same period last year.</p><p>Cboe Global Markets
Announces Leadership Changes</p><p><a href="https://www.financemagnates.com/tag/cboe/" target="_blank" rel="follow">Cboe Global
Markets</a> has made new appointments to its senior leadership team to support its
global growth strategy. Catherine Clay has been appointed as the Global Head of
Derivatives, and Adam Inzirillo has been promoted to Global Head of Data and
Access Solutions. </p><p>These
changes aim to strengthen Cboe's global footprint and offer world-class products
and services to its clients. Clay will oversee the global derivatives business,
while Inzirillo will manage market data and access services.</p><p>xpate Partners with
Currencycloud for Global Payments</p><p>UK-based
e-commerce payments platform xpate has partnered with <a href="https://www.financemagnates.com/tag/currencycloud/" target="_blank" rel="follow">Currencycloud </a>to offer
multi-currency payment methods and competitive foreign exchange rates. </p><p>This
partnership aims to help xpate's customers (primarily micro, small, and
medium-sized businesses) tap into new global markets and manage their cash flow
more effectively. xpate's integrated platform combines card acquiring, payment
processing, and banking services, reducing the administrative burden for
merchants.</p><p>Leverate Introduces
AI-Powered Chatbot Assistant</p><p>The Financial
technology company <a href="https://www.financemagnates.com/tag/leverate/" target="_blank" rel="follow">Leverate </a>has launched an AI-driven Chatbot Assistant
designed to improve broker-trader interactions. The Chatbot Assistant aims to respond
quickly and accurately to customer queries, offer multilingual support, and
enhance trader satisfaction. This innovation is part of Leverate's strategy to
meet the demands of the fast-paced financial markets and promote business
growth.</p><p>“The
Chatbot Assistant is a state-of-the-art digital tool that allows brokers to
communicate naturally with their clients. Powered by advanced artificial
intelligence, this virtual assistant offers instant answers to queries and
performs essential tasks, creating a seamless and personalized customer service
experience,” the company commented.</p><p>Fiserv Acquires Skytef to
Expand in Brazil</p><p><a href="https://www.financemagnates.com/tag/fiserv/" target="_blank" rel="follow">Fiserv </a>has
acquired Skytef, a primary distributor of Software Express's SiTef, to
strengthen its distribution network in Brazil. The acquisition has added more than
600 ISV partners and about 27,000 merchants to Fiserv's network. </p><p>This move
aims to enhance operational efficiency and expand the range of products and
services offered to businesses. The acquisition also has allowed Fiserv to support
large clients with complex after-sales demands better.</p><p>"We
want to add even more value to our clients and partners, expanding our current
and future portfolio of solutions with a highly qualified team that values
relationships," said Jorge Valdivia, the General Manager for Brazil at
Fiserv.</p><p>Kiwibank Fined for
Misleading Customers</p><p>Kiwibank
has been ordered to pay a civil penalty of $812,500 for making false and
misleading representations to customers. The High Court in Wellington imposed
the penalty following proceedings brought by the Financial Markets Authority
(<a href="https://www.financemagnates.com/tag/fma/" target="_blank" rel="follow">FMA</a>).</p><p>The bank
admitted to breaching the Fair Dealing provisions of the Financial Markets
Conduct Act 2013. The court noted that the bank's negligence had potentially
significant market consequences.</p><p>“The
relevant conduct here involved negligence, and no intention to deprive
customers of their entitlements. Once identified Kiwibank also brought the
contraventions to the FMA’s attention, and embarked upon a process of remedying
their error, and addressing its systemic failures,” Justice Francis Cooke
commented.</p><p>SIX Expands Cloud
Connectivity with Megaport</p><p><a href="https://www.financemagnates.com/tag/six/" target="_blank" rel="follow">SIX</a>, the
global financial information provider, has expanded its cloud connectivity
offering through a partnership with Megaport. The new service, SIX Connect,
provides customers with secure and rapid access to SIX's suite of data services
via any major public cloud provider. This move is part of SIX's broader
strategy to offer clients unparalleled flexibility in data access.</p><p>“This
represents a leap forward, not just for SIX but for the entire financial
community we serve. Customers continue to explore and adopt cloud to accelerate
development cycles and optimize workflows. They prefer to partner with an
information provider who can offer seamless and instant access to financial
information, irrespective of their choice of cloud provider or region,” Henk
D’Hoore from SIX commented.</p><p>Worldline Introduces
FlexCommissions for Partners</p><p>Worldline
has launched FlexCommissions, a new flexible payout feature for its e-commerce
solution in North America. The feature allows partners to choose the frequency
of their revenue-sharing profits, providing them with increased cash flow and
growth opportunities. FlexCommissions additionally offers tailored allocation options
based on factors like region, industry, or department.</p><p>“We built
FlexCommissions based on requests from several of our key partners who were
looking to receive more frequent payouts than the standard industry revenue
sharing timing so that they could better control cash flow and operationalize
their payment profits sooner,” said Anthony Chalhoub, the Managing Director of <a href="https://www.financemagnates.com/tag/worldline/" target="_blank" rel="follow">Wordline</a>.</p>

This article was written by Damian Chmiel at www.financemagnates.com.