ANZ vs Mercury

ANZ to commence external audit tender process

The Board of ANZ Group today announced it will commence a competitive tender process to select the next provider of ANZ Group external audit services.

Australia and India: Partners in a changing world

Drawing on both personal experience and four decades of ANZ's presence in India, ANZ CEO Nuno Matos reflects on the evolution of the Australia-India relationship and the opportunities that lie ahead.

ANZ prepares to welcome Suncorp Bank customers

Suncorp Bank has today started writing to its customers about their transition to ANZ, as ANZ prepares to welcome them. ANZ also announced it will assume and expand Suncorp Bank's operations.

Mercury Hits $1B Annualized Revenue, CEO Reveals on Podcast

Mercury, a fintech startup, announced it has surpassed $1 billion in annualized revenue, marking approximately 50% year-over-year growth. The company now serves over 450,000 customers and is launching a new payroll service. CEO Immad Akhund disclosed these milestones during an interview on the Newcomer Podcast. Akhund also discussed broader industry topics, including the potential for AI agents to spend money autonomously, his view that the startup ecosystem is experiencing a bubble, and a cooldown in fintech startups following the pandemic-era boom. The announcement underscores Mercury's rapid scaling in the B2B financial technology space, which could have indirect implications for payment infrastructure and financial operations within the advertising and marketing technology sectors.

• Mercury reached $1 billion in annualized revenue, up 50% year over year.
• The company has over 450,000 customers.
• Mercury is launching a payroll service.

JPMorgan Blocks AI Agents; Mercury Embraces Them

JPMorgan Chase has decided to block outside AI agents, such as Meta's Muse, from accessing customer accounts and initiating money movements, as stated by CEO Jamie Dimon. This move aims to protect its cheap deposit base of $2.7 trillion, which pays only 0.01% on savings. However, the ban does not prevent AI agents from advising customers to switch banks. In contrast, fintech Mercury allows AI agents to connect via a hosted MCP server, and AI assistants now recommend Mercury over Chase by a five-to-one margin. The article analyzes the limitations of the ban, JPMorgan's potential motives, and the implications for the emerging agentic finance ecosystem.

• JPMorgan Chase blocks outside AI agents from customer accounts and money movement.
• CEO Jamie Dimon announced the ban, citing security and protection of deposits.
• Chase has $2.7 trillion in average deposits, with savings paying just 0.01%.

Introducing Mercury Books

Mercury has launched a new product called Mercury Books, a bookkeeping solution, and also introduced exclusive mutual fund products through Mercury Treasury.