Artificial Intelligence

Canadian Cloud-Based AI Platform Senso Secures $3 Million Through Pre-Series A Funding Round Led By Mendoza Ventures & BreakawayGrowth

Senso, a Canadian cloud-based AI platform that enables financial service providers to manage and grow their consumer credit portfolios, has reportedly secured $3 million through its pre-Series A funding round, which was led by Mendoza Ventures and BreakawayGrowth. Founded in 2016, Senso stated it is… Read More

Open Banking Service Salt Edge Partners with Financial Planning App Planner Bee

Open banking platform Salt Edge has announced a new partnership with Singapore based Planner Bee. Planner Bee is a digital financial advisor that combines a user’s accounts, including savings, investments, insurance, and more, into a single dashboard. Planner Bee seeks to help people to reach… Read More

Global ID Platform TrustStamp Seeks $6.875 Million on SeedInvest in Reg A+ Offering

TrustStamp is an artificial intelligence (AI) platform providing identity authentication on a global basis. The company is raising up to $6.875 million in a Series securities offering on SeedInvest. According to the offering page, TrustStamp is selling preferred equity at a pre-money valuation of $25… Read More

AI Fintech ubble Secures Over $11 Million in Capital to Develop Digital ID Verification Product using Biometric Facial Recognition

France-based AI company ubble has acquired more than €10 million (appr. $11.2 million) in capital through a round led Breega and Partech and Breega. The funds raised will reportedly be used to develop ubble’s remote onine ID verification product which will include biometric facial recognition…. Read More

AI in Fintech Market to Reach $22.6 Billion by 2025, but Most Fintechs Still Prefer In-House Over Buying AI Software from Third Parties

The global AI in Fintech market was valued at about $6.67 billion last year and is now projected to reach $22.6 billion by 2025. As noted in ResearchAndMarket’s recent report, the AI Fintech sector is on track to expand at a CAGR of 23.37% from… Read More

IPC, a Global Communications Solutions Provider for Financial Markets, Partners Digital Reasoning to Identify Regulatory Risks Faster

IPC, a global provider of communications and networking solutions for the financial markets, has teamed up with Digital Reasoning, an established AI solutions provider that aims to better interpret human communications and behaviors. As noted in a release shared with CI: “The strategic partnership will… Read More

Digital Transformation Report: AI, Cloud based SaaS, and the Latest Fintech will Transform Banking in Next 5 Years

Max Chuard, CEO at Temenos (SIX: TEMN), a Switzerland-based banking software company, notes that the COVID-19 outbreak has accelerated the demand for the latest banking technologies and other cost-cutting performance efficiencies. Chuard says Cloud technologies and AI could potentially help banks weather significant socio-economic changes… Read More

Jay Nair: Senior VP at Infosys Explains how Financial Services Providers are Adopting Digital Transformation Strategies Due to COVID-19

We recently caught up with Jay Nair, Senior Vice President of Financial Services at Infosys (NYSE: INFY), a global leader in digital services and consulting. The company has clients in 45 countries who use its services to develop their digital transformation strategies. The firm has… Read More

Broadridge Unveils AI-Drive Digital Execution Platform For Corporate Bond Liquidity

U.S.-based fintech Broadridge Financial Solutions announced on Wednesday it has created a new artificial intelligent (AI)-driven digital execution platform, LTX, to bring next-generation liquidity to corporate bonds. According to Broadridge, LTX combines AI with digital execution protocol that enables broker-dealers to significantly improve market liquidity,… Read More

Pagaya Completes $200 Million ABS Led by Cantor Fitzgerald, Raises $102 Million Series D

Pagaya, a Fintech in the asset management space, has closed on a $102 Series D funding round. Simultaneously the company has announced a $200 asset-backed security (ABS) issuance of consumer credit – “reopening” the COVID-19 impacted market. Pagaya’s total ABS issuance now stands at over… Read More

Fintech Firms Must Properly Manage Cash Flow, as COVID-19 Is Making it Challenging to Assess Credit Risk, Monedo CEO Says

David Chan, CEO at Monedo (previously Kreditech), a point of sale (PoS) lender that claims to have more than one million customers who have reportedly received over 2 million loans (as of March 2020), says that the online lender has a global addressable market of… Read More

FINRA Posts Paper on ArtificiaI Intelligence in Financial Services, Requests Comments

FINRA’s Office of Financial Innovation has posted a report on Artificial Intelligence (AI) and the securities industry. Financial services firms are incorporating AI into a growing number of services. FINRA is seeking to engage with this sector of Fintech to better understand the impact on… Read More

Edinburgh Fintech Aveni to Offer CRM, Video Conferencing and Natural Language Processing Tools to Streamline Financial and Professional Services Businesses

Edinburgh-based Fintech Aveni is planning to improve how businesses interact with their clients by automating customer relations management (CRM), fact-checking, risk monitoring and assessment, and adviser prompts. The company has secured £520,000 in seed funding through a round led by the Tricapital angel syndicate. The… Read More

Securities Services Division of BNP Paribas to Use Natural Language Generation to Provide Concise Executive Summaries

The Securities Services division of France’s BNP Paribas, the 8th largest bank in the world in terms of total assets, is reportedly using Natural Language Generation (NLG) to prepare concise, one-page executive summaries for its custody customers. BNP Paribas explained that NLG helps it convert… Read More

CoinDCX Explains how Onfido’s AI-enhanced Software uses Biometrics to Verify Users’ IDs on India-based Digital Asset Exchange

The digital asset and blockchain space is still in its infancy or early stages of development. There are many companies working on developing key infrastructure needed to support emerging cryptocurrency businesses. Cybersecurity, ID verification, AML/KYC processes, and even cryptocurrency-related insurance services are already being developed… Read More

UK Fintech Longevity Card to Introduce Better Way to Manage Finances via a Healthtech App, and help People Lead a Long, High-Functioning Life

UK-based Longevity Card, a Fintech company that aims to introduce a new and better way to help users manage their finances while leading a healthy lifestyle via an easy-to-use app, recently revealed that it has received private investments from a Switzerland-based branch of Deep Knowledge… Read More

HSBC Joins Forces With EquBot & IBM Watson to Introduce AI-Powered U.S. Equity Index

HSBC recently announced it has teamed up with Equbot and IBM Watson to launch the artificial intelligence (AI)-Powered US Equity Index (AiPEX) family. The financial giant claims that the index is a market’s first in using AI as a method for equity investing. According to… Read More

AI Startup Accern Secures $13 Million Through Series A Funding Round

Accern, a U.S.-based artificial Intelligence (AI) start-up, announced on Thursday it secured $13 million through its Series A funding round, which was led by Fusion Fund with participation from Mighty Capital, Allianz Life Ventures, Vectr Fintech Partners and Viaduct Ventures. Founded in 2014, Accern explained… Read More

AI Firm Konduit Spins Off from Skymind Global Ventures

Skymind Global Ventures (SGV), the venture arm of Skymind, has announced its first spin-off – Konduit.  According to the company, Konduit offers a portfolio of open source tools that support machine learning practitioners. The company’s goal is to bridge the gap between research and enterprise… Read More

Tencent, Parent Company of WeChat, to Invest $70 billion into Blockchain, AI, Cybersecurity & More in Pursuit of New Infrastructure

Tencent, a massive Chinese conglomerate that also operates WeChat, is planning to invest $70 billion over the next five years. The money will go into “new infrastructure” including areas like artificial intelligence (AI), blockchain, cybersecurity, big-data and more. This is according to a report in… Read More

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