Business & Technology
Revolut launches AI assistant as banks shift to chat
Revolut has launched an in-app artificial intelligence assistant called AI by Revolut, joining a broader push by banks and fintech groups towards conversational banking.
The assistant, known as AIR, lets customers ask questions about their money by text or voice within the Revolut app. It is designed to handle routine account tasks such as breaking down spending, freezing a lost card, and helping users plan a travel budget without requiring them to navigate multiple menu screens.
The launch puts Revolut alongside other financial groups that are shifting user interaction away from fixed app navigation and towards natural language prompts. Starling has also introduced an AI assistant in its banking app, while payments groups are developing tools that allow software agents to complete transactions on customers’ behalf.
Shift in interface
The change reflects a broader redesign of digital finance products. Rather than asking users to choose functions from menus and tabs, banks are increasingly building chat-based interfaces that aim to complete tasks once a customer describes what they want.
That approach is now spreading beyond customer service. In banking apps, conversational tools are being positioned as a way to manage budgeting, subscriptions, card controls and account information. In payments, the same model is emerging in systems that allow AI agents to discover products, make selections and complete checkout steps.
Visa has outlined a platform intended to connect merchants with AI shopping agents through a single integration. The concept points to a market in which customers could instruct software to reorder household goods or complete routine purchases, while established payment networks continue to process the underlying transaction.
Other parts of the sector are making similar changes. Business payments platform Melio has introduced an AI assistant for accountants and small companies that answers questions about bills, vendors and cash flow. At the same time, the Bank of America has developed an internal AI tool for staff in its global payments operation.
Competitive pressure
For consumer finance groups, the race to introduce conversational services is also becoming a competitive issue. Apps that reduce the number of steps required to complete common tasks may improve customer retention, particularly as digital banks compete on ease of use as much as on price and product range.
Revolut’s move comes as fintech groups try to make their apps the main place where customers manage day-to-day finances. By embedding an assistant that can answer questions and perform simple actions, Revolut is trying to keep users within its system for a larger share of their money-management tasks.
The stakes go beyond convenience. If conversational tools become the standard way to interact with banking and payments services, the companies that control those interfaces could gain greater influence over customer behaviour, product discovery and transaction flow.
Regulatory focus
Supervisors are also paying closer attention to the use of AI in finance. In the UK, the Financial Conduct Authority has begun examining how agentic AI could reshape retail financial services and affect consumers and markets. In the US, authorities have issued guidance intended to help financial institutions manage AI-related risk.
That scrutiny reflects a core concern across the sector. As banks and fintech groups move more customer activity into AI-led systems, they must show that the tools can operate safely, protect data and give users confidence that tasks are being completed correctly.
Privacy is likely to remain central to that debate, particularly as conversational systems sit between customers and sensitive financial information. The more these assistants are used for payments, transfers and account management, the more questions will arise about data handling, audit trails and accountability when something goes wrong.
For now, the most immediate effect is a visible change in how financial products are designed. The app screen is becoming less a map of buttons and more a prompt box, as banks and payments companies bet that customers will increasingly prefer to type or say what they need rather than search for the right feature.
Taken together, these shifts suggest that, for many routine tasks, natural language may become the main interface for digital money services.
Business & Technology
Evri approved after Oxford Botley Road shop wins extension appeal
Nisa Local, which first opened in Botley Road in November, can now be extended after a Planning Inspector overturned Oxford City Council’s rejection.
The proposal is for a steel security shutter and a single-storey rear extension, which would provide more space for new services such as an Evri and two more Cook frozen meal freezers.
The Costa Coffee self-service machine is hoped to be on the front of the shop and will provide more floor space for Bake & Bite and the Oxford-based Natural Bread Company.
Oxford City Council refused permission in March arguing the extension would harm the character and appearance of the property.
Aejal Patel, Nisa manager (Image: Ben Hardy)
However, planning inspector Alexander O’Doherty concluded the impact on the wider area would be limited because the extension would be largely hidden at the rear from public view.
In his decision issued on July 23, the inspector acknowledged that the extension would have some harmful effect on the appearance of the building itself, but said the benefits outweighed that harm.
The inspector noted the shop is “clearly lacking in storage space” and said the additional floor area would help it better serve local residents.
The decision also referenced numerous representations from supporters, with the inspector saying these lent “considerable credence” to the benefits of the scheme.
He added that providing these services within a residential area would encourage walking, cycling and the use of public transport by reducing the need for residents to travel elsewhere by car.
Business & Technology
Witney sweet shop announces closure ‘with heavy heart’
Grumpys Sweet Shop in Fettiplace Road, which operated as a cafe and collectibles shop until it became a sweet shop in 2023, has announced it will close by the end of August.
A statement from the team behind the shop said the ‘difficult decision’ was taken with a ‘heavy heart’.
The final day trading would be Friday, August 28.
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The statement said: “This hasn’t been a decision we’ve taken lightly.
“Like so many families and small businesses, we’ve felt the impact of the rising cost of living, and the increasing costs of running a business have made things more challenging than ever.
Sweets (stock photo) (Image: Timm Bursch / Unsplash)
“On top of that, our current lease has came to an end.
“Renewing it would mean committing to another seven years, and after a great deal of thought, we’ve decided that this is the right time for us to close this chapter.
“While we’re incredibly sad to say goodbye, we’d love to see as many of you as possible before we close.
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“From the bottom of our hearts, thank you for making Grumpy’s Sweet Shop so much more than just a business.
“You turned it into a place filled with smiles, laughter, and wonderful memories that we’ll treasure forever.”
The owners added that ‘everything you see in the shop’ is now for sale, and offers will be considered for all fittings and displays.
Business & Technology
£7 billion East West Rail Oxford to Milton Keynes row reignites
The dispute that halted the much-anticipated introduction of new trains to Milton Keynes looked to be coming to be coming to an end.
The Government has been pushing for ‘Driver-Controlled’ or ‘Driver-Only Operation’—a cost-saving method introduced widely on London commuter lines in the 1980s, a move widely condemned by trade unions.
The Department for Transport’s (DfT) plan for trains to be staffed by a driver and a customer service inspector seemed to solve the dispute.
But this did not meet the The National Union of Rail, Maritime and Transport Workers (RMT)’s demands.
The union has been opposing plans to use driver-only trains between Oxford and Milton Keynes Central.
Although the line between Bicester and Bletchley has technically been open since 2024, it has only been used by freight, charter, and test trains.
Chiltern Railways was chosen as the operator and has been advertising for customer service inspectors, instead of guards.
However, these inspectors would not be considered ‘safety-critical,’ meaning the driver would be responsible for opening and closing the doors.
Chiltern Railways stated it has made significant progress in preparing for the line to open to scheduled passenger trains, but no date has been announced.
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East West Rail Action Group protesting outside Bletchley station (Image: Diana Blamires)
The company said it is continuing to work closely with the The Department for Transport, trade unions, and industry partners.
The National Union of Rail, Maritime and Transport Workers general secretary Eddie Dempsey insisted on the necessity of a guaranteed safety-critical second person aboard trains, citing their essential role in handling a wide range of duties and responding appropriately to ‘dangerous and fast-moving’ situations.
He said: “We need a clear commitment from Chiltern that East West Rail services will not be Driver Only Operation and that a second safety-critical member of staff will be guaranteed.”
Chiltern Railways is set to be renationalised on September 20, when it will be taken over by DfT Operator in preparation for Great British Railways.
45 drivers have been recruited for the new service, but no guards.
The project delays have already taken a significant financial toll.
Six two-carriage trains have accumulated £2.6m in costs due to delays in their lease.
Currently idle in a Bletchley depot, these units are costing the Department for Transport money without generating any fare income.
The Government previously said trains from Oxford to Milton Keynes are being lined up to appear in the December rail timetable.
In a written statement, rail minister Lord Peter Hendy said: “Chiltern worked with Network Rail, the Department for Transport and other operators on the December 2026 timetable and services have been timetabled between Oxford, Winslow, Bletchley and Milton Keynes.”
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