Tagged: ai

July 26, 2020 @ 9:45 pm By Omar Faridi  |  

The Dubai International Financial Center (DIFC) and Jiaozi Fintech Dreamworks, a Chengdu, China-based Fintech innovation platform, have agreed to allow financial technology firms in both China and the UAE to take advantage of new opportunities by accessing each others’ respective markets. Under the agreement, the… Read More

July 24, 2020 @ 1:26 pm By Omar Faridi  |  

The Royal Bank of Canada (RBC), a multinational financial services company and the largest bank in Canada by market cap, has reportedly shifted applications under developments at its AI research division, Borealis AI, to a private cloud infrastructure. The high-performance cloud platform will be supported… Read More

July 22, 2020 @ 9:51 am By Omar Faridi  |  

Singapore-based Percipient, a digital banking technology firm, has reportedly secured SGD $7 million (appr. $5 million) in capital from Stat Zero, a California headquartered VC firm. Percipient said that the funds raised will be used to support the upcoming launch of the company’s “digital twin… Read More

July 21, 2020 @ 10:30 am By Samantha Hurst  |  

Plum, an artificial intelligence (AI)-enhanced smart savings mobile app, has raised $10 million through its latest investment round, which was led by Japan’s Global Brain, and the European Bank for Reconstruction and Development. The latest investment comes less than a year after Plum raised $3 million through… Read More

July 20, 2020 @ 7:29 am By Omar Faridi  |  

Banking professionals, asset managers, insurance providers and Big Four auditing firms need access to reliable information about businesses. Fintech firm Galytix has introduced an economic intelligence platform that allows users to gain access to important information about companies. Galytix is reportedly planning to establish operations… Read More

July 19, 2020 @ 1:17 pm By Omar Faridi  |  

Lucinity, an AML software developer established by a compliance professional who previously worked at Citigroup, has acquired $6.1 million in capital. Meanwhile, Regtech company Hummingbird, which is also an anti-money laundering software developer, has finalized an $8.2 million Series A investment round. Lucinity’s recent round… Read More

July 17, 2020 @ 1:53 pm By Samantha Hurst  |  

IntelliBonds, a UK-based AI/human collaborative investment platform for fixed income institutional investors, has successfully secured its initial £300,000 funding target through its equity crowdfunding campaign on Seedrs. The funding round has already attracted nearly 250 investors. Founded in 2018, IntelliBonds describes itself as a technology… Read More

July 15, 2020 @ 7:42 am By Omar Faridi  |  

David Rutter, founder at LedgerEdge, a trading venue for the US Treasuries market, and R3, a blockchain and DLT infrastructure company, is reportedly planning to address some of the major challenges in the corporate bond market with the launch of LedgerEdge, a new trading platform…. Read More

July 14, 2020 @ 10:03 pm By Omar Faridi  |  

NYMBUS, a core banking modernization firm, has teamed up with digital payments company Payrailz in order to enhance its cloud-powered “Smart Ecosystem” of digital-first banking products and services. NYMBUS aims to serve as an effective alternative to the legacy business model. The company plans to… Read More

July 10, 2020 @ 7:54 am By Samantha Hurst  |  

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

June 27, 2020 @ 2:23 pm By Omar Faridi  |  

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

June 26, 2020 @ 8:18 am By Omar Faridi  |  

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

June 24, 2020 @ 10:13 pm By Omar Faridi  |  

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

June 23, 2020 @ 9:45 pm By Omar Faridi  |  

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

June 22, 2020 @ 1:14 am By Omar Faridi  |  

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

June 21, 2020 @ 9:45 pm By Omar Faridi  |  

The global Fintech market is expected to grow at a compounded annual growth rate (CAGR) of about 20% and is projected to reach a market value of approximately $305 billion by 2025, according to a new report from ResearchAndMarkets. Last month, UBS published a report… Read More

June 17, 2020 @ 2:41 pm By Samantha Hurst  |  

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

June 6, 2020 @ 6:19 pm By Omar Faridi  |  

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

June 6, 2020 @ 11:39 am By Omar Faridi  |  

The Fintech sector continues to attract significant investments across the Middle East and Europe. However, the world is currently trying to cope with the socio-economic challenges created by the deadly COVID-19 outbreak. Competition in the Fintech space has been increasing steadily, with many new startups… Read More

June 6, 2020 @ 11:12 am By Omar Faridi  |  

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