Artificial Intelligence

January 4, 2024 @ 8:31 am By Omar Faridi  |  

Kathy Gormley, the AML Product Manager at Resistant AI, a start-up using machine-learning techniques to protect organizations from fraud, says that APP scams are on the rise, and financial institutions are under pressure to stem the flow of ill-gotten gains from these crimes. The Payment… Read More

January 2, 2024 @ 5:40 pm By Omar Faridi  |  

Branch, the workforce payments platform, released findings from the fifth annual Branch Report, which “surveys over 3,000 hourly workers across industries about their work, finances, and lifestyle.” Findings from the update shared by Branch, shared with CI, reveal that “despite low economic optimism, hourly workers… Read More

December 28, 2023 @ 7:07 pm By Omar Faridi  |  

Greylock claims it has a history of partnering with founders from idea to IPO. Recently, Greylock announced two important next steps in that mission: Greylock 17, their newest early-stage fund, and Greylock Edge, a program “to help founders initiate new companies from idea to early… Read More

December 26, 2023 @ 12:56 pm By Omar Faridi  |  

LexisNexis Legal & Professional, a global provider of information and analytics, announced it is expanding U.S. law school access to Lexis+ AI, a transformative legal generative AI solution that supports conversational search, intelligent legal drafting, insightful summarization, and document analysis. Earlier this fall, Lexis+ AI… Read More

December 24, 2023 @ 12:53 pm By Omar Faridi  |  

Socure, the provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention, announced that it has eliminated 204,536 synthetic identities from the U.S. economy in 2023 to date. The company’s Sigma Synthetic Fraud solution has reportedly “prevented more than $3 billion in… Read More

December 17, 2023 @ 4:37 pm By Omar Faridi  |  

FactSet (NYSE:FDS), a global financial digital platform and enterprise solutions provider, announced the beta release of its latest AI advancement, FactSet Mercury, an innovative large language model-based knowledge agent “to power modern digital workflows and enhance fact-based decision making.” FactSet Mercury is a solution “that… Read More

December 15, 2023 @ 3:40 pm By JD Alois  |  

Magnifi Financial and Eltropy have announced a partnership regarding artificial intelligence (AI). Magnify is a $2.2 billion credit union in central Minnesota. Eltropy is a digital conversation platform for financial institutions. The new AI solution is designed to improve upon the traditional support and employee training… Read More

December 14, 2023 @ 9:25 pm By Omar Faridi  |  

One in five are not confident that their organizations are well-positioned to “take advantage of the potential benefits AI might bring,” according to an update from Ernst & Young LLP (EY US) which released its 2023 Financial Services GenAI Survey. Nearly all (99%) of the financial… Read More

December 14, 2023 @ 4:22 pm By Omar Faridi  |  

Cytora, the AI digital risk processing platform and Vespia, a provider of compliance data, is proud to announce Vespia’s AI powered risk analytics are now being used to enhance the underwriting process seamlessly within Cytora’s digital risk processing platform, “providing commercial insurance underwriters with deeper… Read More

December 12, 2023 @ 9:41 pm By JD Alois  |  

Artificial intelligence (AI) and machine learning (ML) startup Chalk has raised $10 million in a Seed round, according to a note from the firm. The funding was led by General Catalyst, Unusual Ventures, and Xfund. In a blog post, Unusual Ventures explained the qualities that… Read More

December 12, 2023 @ 8:01 pm By Omar Faridi  |  

Accenture (NYSE: ACN) has signed a strategic agreement with the Commercial Bank of Dubai (CBD) in order to drive its technology transformation program and “further enhance its banking services to personal and business customers.” Accenture will set up “a development center of excellence (COE) to… Read More

December 12, 2023 @ 8:39 am By JD Alois  |  

OurCrowd, a top venture investor in Israel that offers smaller investors the opportunity to participate in VC rounds, has backed the funding round for CorrActions. According to a statement by Israel-based CorrActions, the funding was led by Volvo Cars Tech Fund, along with BlackBerry, and… Read More

December 11, 2023 @ 6:44 pm By Omar Faridi  |  

Experian announced NeuroID’s behavioral analytics is now available through Experian’s fraud prevention solutions, including CrossCore and Precise ID. NeuroID’s unique behavioral analytics solution “provides robust, frictionless fraud prevention capabilities that can effectively combat identity theft, deter fraud ring attacks and protect against AI-enabled bots while… Read More

December 10, 2023 @ 7:04 pm By Omar Faridi  |  

BIGG Digital Assets Inc., an innovator in the digital assets space and owner of Netcoins, Blockchain Intelligence Group and TerraZero is pleased to announce that it has initiated a strategy to source partners to integrate and apply Artificial Intelligence (AI) and Machine Learning (ML) training… Read More

December 8, 2023 @ 8:50 am By Omar Faridi  |  

Airwallex shared data on the impact of a new generative AI tool that enhances the speed and efficacy of its “Know your Customer” (KYC) and onboarding processes. The new tool reduces ‘false positives’ by 50 percent “on average, while boosting the number of customers that… Read More

December 7, 2023 @ 10:22 pm By Omar Faridi  |  

The artificial intelligence (AI) boom across all industries has fueled “anxiety” in the workforce, with employees fearing ethical usage, legal risks and job displacement, according to new data from Ernst & Young LLP (EY US). The AI Anxiety in Business Survey is based “on findings… Read More

December 4, 2023 @ 9:44 pm By Omar Faridi  |  

New functionality and attributes are expected to fuel growth and scale in 2024, according to an update from Fintech firm Addepar. As part of a note shared by Addepar, the wealthtech firm has shared key platform developments, research insights along with client, partner and company… Read More

December 4, 2023 @ 1:47 pm By Omar Faridi  |  

Accenture (NYSE: ACN) and Amazon Web Services (AWS) have announced the two companies will collaborate to help developers and enterprise customers accelerate the adoption of advanced generative AI technology. Generative AI shows promise in “transforming software development and application modernization.” Building on its AI-focused strategic… Read More

December 4, 2023 @ 10:37 am By Omar Faridi  |  

PitchBook,  a Morningstar company providing comprehensive, accurate, and “hard-to-find” data for professionals doing business in the private markets, notes in an update that VCs say AI [artificial intelligence] leads innovation, are cautiously optimistic about IPOs, and are cognizant of geopolitical risk. In a note from… Read More

December 4, 2023 @ 10:15 am By JD Alois  |  

Okoora is reporting a new office in Cyprus as it looks to broaden its services across the European Union. Okoora describes itself as a Swiss-Israeli Fintech that provides an Automated Business Currency Management (ABCM) service. This service is said to incorporate Artificial Intelligence (AI) to… Read More