Artificial Intelligence

$600 Billion Lost to Payment Declines Last Year, According to Analysis from Digital Commerce Fraud Prevention Fintech Riskified

The team at Riskified, provider of an “all-in-one” e-commerce fraud prevention solution and chargeback protection service for “high volume and enterprise merchants,” notes that digital commerce businesses spend most of their budget on “customer acquisition, focusing on getting consumers to hit the ‘buy’ button.” While… Read More

Dr. Joshua Ellul, Chairman of Malta Digital Innovation Authority, Shares Preprint of Paper on Pragramatic Approach to AI Regulation

Dr. Joshua Ellul, Chairman of Malta Digital Innovation Authority; Expert Evaluator at European Commission; Director of Centre for DLT at University of Malta, has shared a preprint for a paper that his team plans to present in June 2021 on a “pragmatic” approach to the… Read More

Leading UK Fintech Firms Now Working with PwC to Streamline Digital Financial Services with AI, Data Analytics

Ten of the United Kingdom’s leading Fintech companies are now working with Big Four auditing firm PwC in order to showcase how the future of banking will focus on both collaboration and innovation, along with greater personalization. After 3 years of ongoing development, the 10… Read More

Indian B2B Healthcare Service Provider Biddano, which Leverages Artificial Intelligence Driven Model, Plans to Secure $10M via Series A

B2B healthcare service provider Biddano is planning to streamline offline pharma distribution networks by bridging key supply chain gaps between distributors and chemists. The company leverages the latest technology to develop its platform and is currently looking to expand its network to 25 cities across… Read More

Digital Banking Software Firm Temenos Reveals that BlueShore Financial Is Streamlining Operations with Temenos Infinity

Temenos (SIX: TEMN), the banking software firm, revealed on April 13, 2021, that BlueShore Financial, a boutique “full-service” financial institution, is “digitally transforming” its operations along with Temenos. As mentioned in a release, BlueShore is powered by Temenos Infinity, the omnichannel digital banking solution.  BlueShore… Read More

Google’s Gradient Ventures Leads $5 Million Funding Round in Wage

Wage, has closed on a $5 million funding round led by Google’s AI-focused venture fund, Gradient Ventures. Wage is an open banking software solution that securely shares payroll data with third parties. Beyond Gradient Ventures, follow-on investment came from 8VC, Pear Ventures, Bloomberg Beta, CoFound… Read More

Singapore’s DBS Introduces AI enhanced Digital Investment Advisory Solution

DBS (SGX:D05)/POSB retail clients are now able to access a new feature offered via DBS’ AI-enhanced financial and retirement planning tool, called NAV Planner, which will aim to offer specific investment recommendations that are well-suited for different investment profiles and requirements. Evy Wee, Head of… Read More

10 High-Potential Fintech Firms Chosen for 11th Annual Fintech Innovation Lab New York

Ten high-potential technology firms have reportedly been chosen for 11th Annual Fintech Innovation Lab New York. As noted in the announcement (published on April 7, 2021), Fintech solutions aim to leverage AI and advanced data analytics to “address key industry challenges including sustainability.” As mentioned… Read More

IDNow Says Germany’s Recent Decision to Allow Video ID Validates Strategy

On April 1, 2021, the German Federal Network Agency (Bundesnetzagentur) posted an update on “electronic trust services” in regards to video identification. Pointing to this update, IDNow said the decision to allow AI (artificial intelligence) based identification methods for new use cases in Germany is… Read More

OCC, CFPB, FDIC, NCUA and Federal Reserve Join in Request for Information on Artificial Intelligence and Usage in Financial Services

In a joint statement today, five federal financial regulatory agencies announced a consultation pertaining to the usage of artificial intelligence (AI) as well as machine learning (ML) within financial institutions. The agencies seek information from the public on how financial institutions use AI in their… Read More

Financial Risk Fintech Feedzai Raises $200 Million led by KKR, Valuation Tops $1 Billion

Feedzai, a cloud-based financial risk management platform, has raised a $200 million Series D round led by KKR, with participation from existing investors Sapphire Ventures, and Citi Ventures. Feedzai said the funding placed a valuation on the firm in excess of $1 billion. The company… Read More

AI enhanced Fundbox, a Credit Platform for B2B Commerce, Reveals how to Apply for Online Financing without Collateral

The team at Fundbox, an AI-driven credit platform for B2B commerce, recently published a blog post that looks into the possibility of getting a business loan without providing collateral. Fundbox’s blog post notes that when we are planning to expand our business, many of us… Read More

Banking Circle Survey: 42% of Senior Bankers Say Outdated Tech Is Major Hurdle in Adopting AI to Improve AML Processes

Banking Circle, a financial infrastructure developer, notes that the rapid and widespread digital adoption by banking clients, and the accelerated digitalization across financial services following the COVID-19 outbreak have “expanded the opportunity for fraud.” Criminals are increasingly exploiting “gaps” found between digital solutions or platforms,… Read More

Pagaya Announces Expansion of PAID Shelf With $900 Million Pre-Funded Consumer Credit Deal

  Pagaya, an artificial intelligence (AI) powered investment manager, announced on Tuesday the expansion of the Pagaya AI Debt Selection Trust (PAID) shelf with $900 million committed. According to Pagaya, the demand for this PAID issuance was evidence of investors deeply trusting the platform as… Read More

Money Laundering via Global Financial System Estimated at Up to $2T Annually, AI Models May Address Issues, Banking Circle Explains

Banking Circle, a financial infrastructure developer, notes that McKinsey has found that around $800 billion to $2 trillion has been laundered annually via the international banking system. Banking Circle reveals that criminals keep using more sophisticated methods to launder funds, which may put the reputations… Read More

OurCrowd Announces Global AI Innovation Center, Selects Hasanat Dewan as Chief Innovation Officer

Top global investment platform OurCrowd has appointed Dr. Hasanat Dewan as Chief Innovation Officer.  Simultaneously, OurCrowd announced a Global AI (artificial intelligence) Innovation Center at an undetermined location. According to OurCrowd, Dr. Dewan will oversee the development and deployment of OurCrowd’s next-generation platform, supporting a… Read More

European Commission Calls for a Digital Decade

The European Commission has shared its vision for the digital transformation of Europe by 2030. The policy initiative is an all-encompassing approach to many aspects of the economy and daily existence. The EU states that this builds on the Commission’s digital strategy of February 2020…. Read More

Indonesia: Crowdo Launches Incorporates Digital Banking with SME Services

Crowdo has announced the launch of a new platform in Indonesia that is described as the first “SME digitalization platform powered by Neobank technology.” According to Crowdo, the platform seeks to help businesses digitalize their operations that improve supply chain operations with financial and banking… Read More

Skymind Announces First AI Investments as Part of $800 Fund

Skymind has announced its first cohort of investments from its $800 million AI fund. Skymind has invested in six startups that are leveraging AI to improve the performance of different industries and sectors across the globe. Skymind is an open-source enterprise deep-learning software company and… Read More

Swiss Stock Exchange Operator SIX Takes Majority Stake in AI Platform Orenda

SIX, the operator of the Swiss and Spanish Stock Exchanges, has taken a majority stake in Canadian AI platform Orenda Software Solutions. SIX states the acquisition is a step is part of its strategy to help its customers drive more insights with data and analytics… Read More

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