Artificial Intelligence

Finch Capital’s New Fund to Target Fintech, AI Startups in Europe

Finch Capital, a UK and Netherlands based VC firm, has closed on a new fund – Europe III – raising €150 million to invest in Fintechs and artificial intelligence (AI) startups in the financial services sector. Finch said it will target Series A and B… Read More

Visa Launches AI-Powered Services Suite “VisaNet +AI”

    Visa Inc. (NYSE: V) announced on Tuesday the launch of VisaNet +AI. According to Visa, VisaNet +AI is described as a suite of AI-powered services that address long-standing challenges and pain points for banks, merchants and consumers, which includes delays and confusion with… Read More

New Law Increases Anti-Money Laundering Efforts Including Digital Assets

The [William M. (Mac) Thornberry] National Defense Authorization Act for Fiscal Year 2021 (HR 6395) was signed into law at the beginning of this month. While the title of the law is pretty accurate as the bulk of the legislation addresses defense issues, buried within… Read More

Fintech Advancement in the Time of COVID-19

As with most years, I started 2020 with a sense of optimism, looking forward to another productive year at work and doing the Appetite for Disruption podcast with my co-host Troy Paredes. In fact, he and I wrote an article discussing 2019 that focused more… Read More

Decentralized Autonomous Travel Solution Introduced by Fetch.ai, an AI and Machine Learning Network

The developers at Fetch.ai, an artificial intelligence (AI) and machine learning (ML) network, are introducing what they describe or refer to as “decentralized autonomous travel.” Fetch.ai aims to connect to more than 770,000 hotels with its Autonomous Travel system. The Autonomous AI Travel Agents intend… Read More

AI and Digital Tech Adoption in India to Help Banks and Financial Institutions with Streamlining Operations: Report

The Institute for Development and Research in Banking Technology (formed by the Reserve Bank of India) has revealed that the digital economy sector in India is expected to “double its output as early as 2025.” Digitization in India is expected to lead to “widespread economic… Read More

AI and Machine Learning are Expected to Improve Fintech Apps in India, with Support from Regulators

The steady growth and adoption of Fintech services has helped in promoting greater financial inclusion in India. Emerging technologies like AI and machine learning (ML) are now expected to further promote the usage of Fintech apps in the $2.5 trillion economy, which should benefit consumers… Read More

Google India Exec Says AI Could Add $500 Billion to Economy, Google Pay Claims 43% Market Share

Artificial intelligence (AI) alone could potentially add $500 billion or half a trillion dollars to India’s economy, according to Google India Country Manager and VP, Sajay Gupta. Gupta, who has previously worked as MD of Star India and The Walt Disney Company India, noted (while… Read More

Fintech Lending Apps are Increasingly Using AI and Machine Learning to Accurately Determine Borrower’s Creditworthiness, According to Researchers

The financial sector is undergoing major technological advancements and changes. Traditional banking institutions now face a lot of competition from online or digital startups that have no physical branches. Social media and other online platforms are branching out into payments and credit. The rise in… Read More

Industrial Bank of Korea Partners Naver’s Cloud Affiliate for Development of Fintech Services to Enhance AI Capabilities

The Industrial Bank of Korea (IBK) has teamed up with a platform managed by Naver’s Cloud affiliate for digital innovation and development of Fintech-related services, the state-run bank confirmed on December 23, 2020. Through the partnership, both organizations will aim to enhance their Cloud and artificial… Read More

European Commission Agrees on €7.5 Billion Budget for Digital Europe: Goal is to improve Europe’s Competitiveness in the Global Digital Economy

The European Commission (EC) has come to an agreement on the €7.5 billion budget for the Digital Europe program. The goal is to “improve Europe’s competitiveness in the global digital economy and achieve technological sovereignty.” The EC said it seeks to support the digital transformation… Read More

AI-Powered Debt Trading Platform Metechi Raises $5 Million Through Latest Investment Round

Metechi, a U.S.-based AI-powered debt trading platform, announced on Friday it secured $5 million through its latest investment round. Founded in 2017, Metechi claims it empowers banks and Institutional Investors to better serve their clients, compete with larger institutions for business, and observe regulatory balance… Read More

UK Department for International Trade Forms New Global Partnership Program to Help British Fintechs

The UK Department for International Trade (DIT) has launched a new global partnerships program called “Leading Edge.” The program is designed to help International Financial Institutions (IFIs) in priority markets access the best British Fintech solutions, starting with Singapore, Australia, and the United States. The… Read More

Singapore’s UOB Claims its AI enabled AML Tech has Been Quite Effective at Identifying Potentially Fraudulent Transactions

United Overseas Bank (UOB) has revealed that its artificial intelligence (AI)-powered anti-money laundering (AML) technology has been quite effective at assisting the Singapore-based bank with analyzing large volumes of transactions to identify suspicious or potentially fraudulent financial activities. The UOB, a multinational banking organization with… Read More

Advanced Artificial Intelligence Adopters Attributed 12% Points of Revenue Gain Directly to AI Integrations: Report

The COVID-19 pandemic has led to businesses or companies adopting artificial intelligence (AI) based solutions. Firms operating in nearly every sector have integrated AI and automation software according to a new survey of professionals working in the financial services sector. Nearly 66% or two-thirds of… Read More

Coinbase Engineer Explains how Digital Assets Exchange Uses Machine Learning Tools to Create Meaningful Business Impact

US-based digital asset exchange Coinbase has revealed that it’s focused on building “state-of-the-art” machine learning (ML) technology with “efficient” execution for the crypto and blockchain-focused economy. Catalin Tiseanu, an engineer working at Coinbase, writes in a blog post that the digital assets firm leverages machine… Read More

China-Based AI-Powered Platform For Businesses IceKredit Secures $33 million Through Series C Funding Round Led By Guoxin Venture Investment

  China-based AI-powered platform for business IceKredit announced on Tuesday it secured $33 million through its Series C funding round, which was led by Guoxin Venture Investment with participation from Guohe Capital, Yunqi Partners, and China Creation Ventures. Founded in 2015, IceKredit describes itself as an… Read More

U.S.-Based AI Insurtech Software Flyreel Secures $10 Million During Series A Financing Round LedBy IA Capital Group

Flyreel, a U.S.-based Artificial Intelligence (AI) solution for residential and commercial property insurance, recently announced it secured $10 million through its Series A funding round, which was led by IA Capital Group with participation from Guidewire Software, Gradient Ventures, State Auto Labs, and Donan Engineering…. Read More

U.S. Fintech Wemlo Introduces AI Tech For Mortgage Processing

Wemlo, a U.S.-based fintech that’s focused on mortgage loan processing, announced on Friday the launch of its new AI technology called Athena. According to Wemlo, Athena is a virtual assistant AI developed to empower and improve loan processing by identifying discrepancies within a mortgage loan… Read More

Scotiabank Unveils Global AI Platform

Scotiabank announced earlier this week the launch of its new artificial intellignce (AI) platform. According to the Canadian banking group, the platform provides customers with intelligent and personalized financial advice. It also enables the bank to provide what it believes to be fast, relevant advice… Read More

Send this to a friend