Ryan Swann, Vanguard’s chief data analytics officer says the mutual fund giant is using data and AI not only to gain insight, but also to build enterprise-wide agility and accelerate value creation for itself and its clients. Data and analytics have a seat at the C-suite table at Vanguard, a shift that Swann said enables the company to embed intelligence into decision-making at all levels. “It is allowing us to bring insights to all of our executives about what’s happening with our clients. “It allows us to inform and influence the strategy and what we should focus on next. It also allows us to accelerate our business strategy. We’re a digital organization; we don’t have bricks and mortar, so the majority of our clients interact with us through data, through transactions, through clicking around on our website, maybe calling our call center, which is just another type of unstructured data. That data allows us to understand what our clients need and how we should respond,” the executive said. Swann’s office oversees the entire data lifecycle — from engineering and management to advanced analytics, machine learning and behavioral science. Central to Swann’s approach is a hub-and-spoke model that bridges the technical and business sides of the company. To foster cross-functional collaboration, Swann said sitting together and sharing the same objectives and key results (OKRs) matter. For example, Swann said an AI model could look through the data to coach the sales team into performing better. It could recommend the three best actions to take, the next three people to talk to, and the three topics they should talk to them about. By A/B testing these recommendations, the team tracked the performance improvements and worked with finance to quantify the gains. These and other initiatives have brought value to Vanguard. “Last year alone, we were up over $300 million of incremental value” across revenue generation, cost efficiencies, cost avoidance and risk reduction, he said. As for agentic AI, Vanguard is deploying agents that let users do things like pull data from databases in natural language and conduct data lineage checks, which avoids a costly undertaking. Swann said Vanguard has data processes going back decades, and the company must now create lineage to trace where the data comes from and where it goes.
Fed’s latest Diary of Consumer Payment Choice reveals consumers made an average of 11 payments per month with a mobile phone in 2024, up from four payments in 2018; cash remains a key backup payment method
Federal Reserve Financial Services today issued the 2025 Diary of Consumer Payment Choice (Diary), an annual survey measuring the evolving role of cash in the U.S. economy. Findings from this nationally representative survey showed that amid the increasing digitalization of payments, consumers continue to use cash and keep it handy. Cash ranked third as a top payment instrument among consumers, a position it has held for the past five years. In 2024, it accounted for 14% of consumer payments by number, while credit and debit cards accounted for 35% and 30% of payments, respectively. Overall, U.S. consumers made an average of 48 payments per month, continuing an upward trend that began in 2021. In 2024, this growth in the overall number of payments was driven by increased credit card usage, remote payments and payments made with mobile phones. The survey also revealed generational and demographic trends in payments. Households earning less than $25,000 per year and adults 55 and older relied more on cash than other cohorts. In contrast, adults aged 18 to 24 were more likely to pay with a mobile phone, using their phones for 45% of all payments. Other key findings included:
- S. consumers made an average of 11 payments per month with a mobile phone in 2024, up from four payments in 2018.
- Cash remains a key backup payment method for U.S. consumers. Of all cash payments in 2024, nearly two-thirds were made by consumers who prefer other payment methods, such as debit or credit cards.
- Nearly 80% of U.S. consumers have held cash in their pockets, purses or wallets for at least one day of the month for each Diary survey conducted since 2018. Though the value of these holdings has decreased since 2022, it remained elevated in 2024 compared to pre-pandemic levels.
- More than 90% of U.S. consumers intend to use cash as either a means of payment or store of value in the future.
TSB Bank offers access to safeguarding app for users who are fleeing or experiencing abuse- alerts can be sent to chosen emergency contact with a simple tap or shake of the smartphone
TSB will offer customers who are fleeing or experiencing abuse, free access to Hollie Guard Extra for a year1 – simply by downloading the app and using a unique activation code. Those wishing to claim can discuss their situation in branch, over the phone or via video banking. Once installed, Hollie Guard Extra transforms an everyday smart phone into a personal safety device. TSB has added this level of protection to its existing domestic abuse support – which includes its Emergency Flee Fund2 and Safe Spaces3. With a simple tap or shake of the device, the user can send alerts to chosen emergency contacts, including the police, and a 24/7 monitoring centre. The app allows for a user’s location to be shared every five seconds, alongside audio and video recordings, helping to keep people safe in a vulnerable or potentially dangerous situation. The app has already been downloaded by almost 500,000 people in the UK and Hollie Guard Extra is being used by police forces across England and Wales. In addition, it has led to numerous arrests and helped in more than 1,500 threatening and dangerous situations. TSB hopes that Hollie Guard Extra can provide further support to TSB’s Flee Fund – helping connect and protect victim-survivors having fled an abuser.
MCP’s ability to let enterprises custom-configure servers for autonomous AI agents, its directionality to access information on client side and interoperability is spurring adoption in AI development workflows
Anthropic released Model Context Protocol (MCP) seems to have become the winning protocol choice for the AI industry. Despite the number of companies announcing MCP servers, MCP is technically not a standard. But many see MCP as one of the main protocols, if not the potential winner, for the agentic ecosystem. A lot of MCP’s attractiveness comes from streamlining how models interact with data and tools. Before MCP, developers pointed models and agents to data with APIs. However, APIs are imperfect connectors, especially for agents that access data to complete tasks automatically. Unlike APIs, organizations can configure their MCP servers with custom instructions laying out what agents can or cannot access. The server can “ask” an agent for its identity and determine if it can tap information on the MCP client side. Companies have more of a say on what outside agents can access on their end, giving MCP more directionality from the enterprise. Sagar Batchu, co-founder and CEO of API tooling company Speakeasy, said MCP transforms the work interface and API to a chat interface. He said MCP makes it so Speakeasy and its customers don’t need to rewrite or manually maintain APIs constantly. Yaniv Even Haim, chief technology officer of website builder Wix, told that MCP aligns with the company’s goals because it believes MCP can act as a “bridge” for its AI development workflows. “Wix chose the MCP model in particular because it aligns with the industry’s shift toward LLM-powered development, where context-rich, intelligent interfaces are key,” Haim said. For many companies, MCP will be one of many protocols they support as their customers decide which interoperability and agent communication methods to use. The growing adoption of MCP, for the varied reasons many companies have, proves that demand for standards is only growing.
“Tokenization agents” or “digital transfer agents” can help manage edge cases like wallet recovery, freezes, sanctions compliance, and complex corporate actions that smart contracts cannot handle
During one of the panels at the U.S. Securities and Exchange Commission (SEC) roundtable on tokenization, incumbents were urged to avoid attempting to hamstring new technology players. Below is a summary of the key regulatory changes discussed. 1) Transfer agent modernization: While smart contracts handle transfers, participants believe a regulatory layer is still needed in the form of “tokenization agents” or “digital transfer agents” to help manage edge cases like wallet recovery, freezes, sanctions compliance, and complex corporate actions. 2) Blockchain as official record: Participants emphasized that permissionless public blockchains should be recognized as an official record of ownership. This would eliminate duplicative off-chain record keeping, streamline operations, and unlock efficiencies. 3) Broker-dealer framework: Several participants argued that tokenized securities with embedded transfer restrictions through smart contracts should meet the 15c3-3 possession and control requirements, making them eligible to be custodied and traded by broker-dealers without triggering the “three step process” (special purpose broker-dealer requirements). 4) Self-custody options: Panelists advocated that self-custody should be permitted when chosen by investors, noting it enables direct access to innovation, reduces intermediary fees, and supports user control without compromising regulatory oversight. 5) Stablecoin settlement: Participants argued that tokenized securities should be able to be settled using stablecoins, just as cash is used in traditional finance, “without imposing extra regulatory burdens simply because the payment rails are digital.” 6) Investment Company Act adaptations: Specific areas mentioned include Single book of record at transfer agency level; Access and disclosure requirements for investor communication documents; Many mutual funds are considering dual share classes – ETF shares. These funds could also potentially be tokenized; Forward pricing rule (Rule 22c-1) modifications if 24/7 trading is implemented 7) Interoperability guidelines: Participants suggested that while industry should lead interoperability efforts, the SEC could provide high-level guideposts or considerations about what interoperability should accomplish and what factors might undermine it, creating “a common set of principles” for dialogue. 8) Regulatory sandbox/pilot programs: There was strong support for formal regulatory sandbox or pilot programs to allow firms to use DLT for issuing, trading, and settling tokenized securities. Participants emphasized these should be practical rather than experimental, focused on directly informing new rules and legislation rather than just testing technology capabilities, which are already proven. 9) Global regulatory coordination: Several speakers highlighted the need for global policy maker coordination and collaboration since technology is cross-border, and regulatory regimes need to recognize tokenized assets as they move across jurisdictions. The panel emphasized that innovation in this space could bring significant efficiencies to capital markets while maintaining investor protections, but requires thoughtful regulatory adjustments to realize its full potential.
Almost half of U.S. adults who use buy now, pay later products have experienced at least one financial problem: new study
Almost half of U.S. adults who use buy now, pay later products have experienced at least one financial problem, according to results of a survey from the consumer financial services company Bankrate and the market research firm YouGov. Bankrate and YouGov surveyed 2,354 U.S. adults between March 19 and 21. Of those who participated, about 30% said they had used at least one buy now, pay later service. Of those who used BNPL services, 49% of those surveyed reported at least one financial issue: 24% said they outspent their budget, 16% noted missing a bill payment after making a BNPL purchase, 15% regretted a BNPL purchase and 14% said they had a problem with a refund or a return. Taking out multiple buy now, pay later services at a time is among the biggest warning signs, Ted Rossman, senior industry analyst for Bankrate said, because BNPL is used most frequently by financially vulnerable populations such as the working class and young people. “People find this a valuable payment method to spread out their cash flow. The problem is if you overdo it and you lose sight of how much you spent. That’s concerning because it shows how close to the edge people are,” he said.
Almost half of U.S. adults who use buy now, pay later products have experienced at least one financial problem: new study
Dollar General is integrating its retail media arm with Fetch, a rewards app that provides consumers with “Fetch points” when they submit receipts from partner brands and retailers. Via this collaboration, brands participating in DGMN can leverage Fetch to help drive incremental consumer purchasing behavior with rewards-based advertising as part of their DGMN investment. As a result of this new partnership, brands participating in DGMN can now seamlessly put their DGMN advertising spend toward Fetch rewards offers, unlocking a new ad format. “Shoppers come to their Fetch app with intent — they’re planning, buying, and ready to be rewarded,” said Courtney Cochrane, retail industry lead at Fetch. “By partnering with DGMN, we’re giving brands a way to meet consumers in those exact moments and drive real results. It’s not just about impressions — it’s about getting products into carts.” Other partnerships Dollar General has entered to expand DGMN functionality include teaming with experiential marketing platform Recess to let advertisers hyper-target the retailer’s customers through community-driven sampling programs. Through the Recess experiential sampling program, participating DGMN brands will be able to integrate products into consumers’ daily lives before they enter the store. Targeting capabilities allow advertisers to execute experiential sampling programs in targeted communities.
ServiceLink solution allows lenders to schedule 100% of their closings ‘in-platform’ through built-in automated remote online notarization to determine borrower eligibility and in-branch scheduling option
ServiceLink has enhanced its EXOS Close technology including new options for online and in-branch closings in addition to an instant in-platform determination of remote closing eligibility, assessing state and county acceptance requirements and, with lender approval, automatically giving borrowers who are eligible the immediate option to schedule their closing online. The addition of this unique in-branch scheduling selection and built-in automated remote online notarization (RON) eligibility determination allows lenders to schedule 100% of their closings through EXOS. The inclusion of an in-branch scheduling option is pioneering technology in the industry – no other provider but ServiceLink offers the ability for a lender to schedule in-branch closings. This new option will greatly aid with home equity and refinance transactions, increasing efficiency and transparency in the process. Access to the RON eligibility determination also will empower lenders to easily adopt and scale eSignings and extend the option to their borrowers to self-schedule their own RON closing event. No other solution provides real time calendaring functionality, with direct access to the availability of the most qualified notaries in the country, that empowers borrowers to schedule their own closing appointments for the exact date and time and now, location, of their choosing.
Kong’s platform enables enterprises to securely manage both their APIs and Apache Kafka-powered real-time data streams by regulating the workloads interaction though encrypting the records and subjecting applications to authentication
Kong introduced Kong Event Gateway, a new tool for managing real-time data streams powered by Apache Kafka. According to the company, customers can now use Konnect to manage both their APIs and Kafka-powered data streams. That removes the need to use two separate sets of management tools, which can ease day-to-day maintenance tasks. Kafka makes it possible to create data streams called topics that connect to an application, detect when the application generates a new record and collect the record. Other workloads can subscribe to a topic to receive the records it collects. Kong Event Gateway acts as an intermediary between an application and the Kafka data streams to which it subscribes. Before data reaches the application, it goes through the Kong Event Gateway. The fact that information is routed through the tool allows it to regulate how workloads access the information. Using Kong Event Gateway, a company can require that applications perform authentication before accessing a Kafka data stream. The tool encrypts the records that are sent over the data stream to prevent unauthorized access. According to Kong, it doubles as an observability tool that enables administrators to monitor how workloads interact with the information transmitted by Kafka. Kafka transmits data using a custom network protocol. According to Kong, Kong Event Gateway allows applications to access data via standard HTTPS APIs instead of the custom protocol. That eases development by sparing the need for software teams to familiarize themselves with Kafka’s information streaming mechanism. Kong Event Gateway allows multiple workloads to share the same data stream without the need for copies. Administrators can create separate data access permissions for each workload. Another feature, Virtual Clusters, allows multiple software teams to share the same Kafka cluster without gaining access to one another’s data.
Alation helps data teams turn messy, raw data into trusted, reusable data products for AI
Alation has launched its Data Products Builder Agent, an AI-powered tool that helps data teams turn messy, raw data into trusted, reusable data products. It removes the busywork of data teams, enabling them to deliver the data products that business users and AI need. The Data Products Builder Agent transforms raw data into productized, AI-ready assets that are easy to find and use in the Alation Data Products Marketplace. By automating the data product lifecycle, the Data Products Agent streamlines curation, packaging, and publishing processes. Based on user prompting, the agent identifies the right data to answer the user’s business question. It then auto-generates and documents the data product design specification and ensures data products meet marketplace and governance standards, all while keeping a human in the loop. This enables data teams to focus on strategic work while empowering the business with trusted, ready-to-use data products. The Alation Data Product definitions build on the Open Data Products Specification (ODPS), a YAML-based standard that enables open, portable, and extensible metadata for data products. Key capabilities of the Alation Data Products Builder Agent include: Effortless data product creation; Built-in trust; and Business-aligned relevance.