Tagged: ai

January 5, 2020 @ 7:23 pm By Omar Faridi  |  

Fininbox, an established banking software-as-a-service (SaaS) provider, has identified three main Fintech trends or developments that helped shape the financial technology industry last year. According to Fininbox, the three trends are: artificial intelligence (AI) became increasingly important among Fintech firms, a large number of traditional… Read More

January 5, 2020 @ 2:33 pm By Omar Faridi  |  

Boston-headquartered Corvus Insurance, a company that offers artificial intelligence (AI)-enhanced cyber insurance policies for firms, has sold shares worth around $31 million in a $33 million investment round, a US Securities and Exchange (SEC) filing confirmed. Corvus Insurance, which is notably one of BostInno’s 50… Read More

December 31, 2019 @ 1:04 pm By Omar Faridi  |  

New York-based tech giant IBM and the Argentine Chamber of Fintech have entered an agreement to support various innovative projects and digital transformation initiatives in Argentina’s financial technology and banking sector. IBM will reportedly support the chamber in developing activities to promote Fintech-related projects such… Read More

December 29, 2019 @ 8:00 pm By Rowland Park and Simon Gregory  |  

Throughout the past year, the use of artificial intelligence (AI) and other forms of technology within the financial services industry has continued apace. This will increase further as it dovetails with enriched natural language processing (NLP) through 2020 and into the coming decade and lead… Read More

December 27, 2019 @ 11:44 am By Omar Faridi  |  

OneConnect recently launched SBI OneConnect Japan (in Tokyo), which is a joint initiative with Japanese financial services giant SBI Holdings. The platform offers cloud-powered and artificial intelligence (AI)-enhanced technological services to local financial institutions in order to assist them with their digital transformation efforts. In… Read More

December 25, 2019 @ 11:49 pm By Omar Faridi  |  

Aylien, an established provider of artificial intelligence (AI)-enhanced risk intelligence and financial analytics tools, revealed on December 23 that it secured €5 million (appr. $5.5 million) in funding via a Series A round. Aylien’s investment round was led by Finch Capital. Existing investors that also… Read More

December 24, 2019 @ 8:26 am By Omar Faridi  |  

Quantiphi, a US and India-headquartered applied artificial intelligence (AI) and Big Data analytics services firm, has raised $20 million via a Series A round from Multiples Alternate Asset Management. Quantiphi offers applied AI and Big Data solutions to Fortune 500 companies across several major sectors… Read More

December 23, 2019 @ 11:51 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has published a report entitled “Reshaping Banking with Artificial Intelligence.” The Report is part of a series of publications on applying AI technology, including Robo-advisors, to the banking industry. Hong Kong has emerged as a top Asian Fintech hub… Read More

December 20, 2019 @ 8:26 am By Omar Faridi  |  

Quinte Financial Technologies Inc. (previously known as Quatrro Processing Services), a leading provider of several financial crime management solutions, revealed on December 18 that it has rebranded under the “Quinte” name. Company chairman Venu Gopal noted that the firm’s name change to Quinte from QPS… Read More

December 19, 2019 @ 7:57 am By Omar Faridi  |  

Gurugram, India-based insurance technology (Insurtech) firm Toffee Insurance revealed on December 17 that it had secured $5.5 million via a Series A investment round led by IVM Intersurer, Omidyar Network, Flourish Ventures, Accion Venture Lab and Kalaari Capital. Toffee says it will use the capital… Read More

December 18, 2019 @ 9:09 am By JD Alois  |  

Pagaya, an artificial intelligence (AI) powered investment manager, has closed on its 5th capital markets transaction this year for a $200 million asset-backed security. Pagaya reports that it now has $1.2 billion in assets under management (AUM) having risen a solid 300% this year. Pagaya’s… Read More

December 16, 2019 @ 11:22 am By Omar Faridi  |  

China’s “smart” courts have reportedly been implementing various innovative technologies such as blockchain and artificial intelligence (AI) to help decide legal cases. Local media outlet Xinhua news revealed recently that over 3.1 million Chinese litigation matters from March to October 2019 were handled via the… Read More

December 12, 2019 @ 4:07 pm By Omar Faridi  |  

Greg Gibb, CEO at Lufax, an online wealth management platform and tech solution provider for local governments and financial institutions, recently shared his views and insights on the future of Fintech, during the Committee of 100 Greater China Conference and Gala 2019, which were held… Read More

December 10, 2019 @ 11:49 pm By Omar Faridi  |  

H.E. Sheikh Abdulla bin Saoud Al Thani, Governor of Qatar Central Bank (QCB), revealed on December 8 that the nation’s central bank is in the process of developing the banking sector’s Fintech strategy. Qatar’s Fintech strategy is being created in cooperation with local financial institutions… Read More

December 6, 2019 @ 8:20 am By Omar Faridi  |  

China’s central bank announced on December 5 that it’s planning to support the nation’s capital city Beijing in exploring and experimenting with various regulatory guidelines for the evolving Fintech industry in order to develop a more inclusive and suitable supervision framework. The nation’s Fintech regulation… Read More

December 5, 2019 @ 7:16 am By Omar Faridi  |  

Investments in the Insurtech industry have been increasing rapidly. They’ve grown from around $140 million in 2011 to about $4.9 billion as of 2018. QBE North America, an integrated specialist insurer that’s part of QBE Insurance Group Ltd, one of the world’s largest insurance providers,… Read More

November 22, 2019 @ 10:20 am By JD Alois  |  

The EU Artificial Intelligence and Blockchain Investment Fund is planning to invest €100 Million in European startups next year. This is according to note from the European Commission. The new EU investment fund seeks to boost innovation in these two key technologies. The Fund was… Read More

November 19, 2019 @ 3:00 pm By Omar Faridi  |  

The Bank of Nova Scotia (Scotiabank), the third-largest bank in Canada in terms of market capitalization and deposits, is introducing a new program that will give the institution’s senior workers an opportunity to understand the ethical principles and guidelines involved in using artificial intelligence (AI)-based… Read More

November 18, 2019 @ 2:34 pm By Omar Faridi  |  

In order to encourage the development of innovative solutions while supporting financial inclusion, banks and world governments are expected to increasingly adopt Fintech-based solutions next year. This, according to a recent report from Ecosystm, a “disruptive” technology research and advisory service. The report, titled “Ecosystm… Read More

November 15, 2019 @ 8:30 am By Omar Faridi  |  

Silent Eight, a Singapore-based regulatory technology (Regtech) company, announced on November 14 that it had raised an oversubscribed $6.2 million through a Series A investment round. The funds raised will be used to recruit new talent in order to support Silent Eight’s new clients who… Read More