Tagged: artificial intelligence

Scotiabank Introduces New Program for Senior Employees to Understand Ethical Principles for Using Artificial Intelligence

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

Report: Fintech Solutions to be Increasingly Adopted by Banks and Governments in 2020

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

Montreal-based Artificial Intelligence Firm Stradigi AI Raises $40.3 Million via Series A Investment Round

Montreal-based Stradigi AI, a firm focused on developing artificial intelligence (AI)-powered solutions, revealed on November 12 that it had raised $53 million CAD (appr. $40.3 million) via a Series A investment round. The capital raised will be used to support the firm’s expansion into North… Read More

Regtech: AML and Counter-Terrorism Financing Firm Silent Eight Raises $6.2 Million via Series A Round

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

AI-Enhanced Smart Savings App Plum Raises $3 Million via Latest Investment Round

Plum, an artificial intelligence (AI)-enhanced smart savings application, has raised around $3 million via its second investment round, bringing the company’s total funds raised to approximately $9.3 million. Plum recently introduced its new Android app, which extends the firm’s digital offering across Facebook Messenger and… Read More

Monetary Authority of Singapore Works with Financial Sector on Framework for AI and Big Data

The Monetary Authority of Singapore (MAS) is working with financial industry partners to create a framework for financial institutions on the responsible adoption of Artificial Intelligence (AI) and Data Analytics (AIDA). The new framework has been given the name “Veritas.” The goal is to enable… Read More

JP Morgan Invests Undisclosed Amount in Limeglass, an Artificial Intelligence and Machine Learning Research Analysis Firm

JP Morgan, the world’s sixth-largest bank, has reportedly acquired an undisclosed stake in Limeglass, the developer of a set of tools that eliminate information overload in order to help people focus on the “relevant paragraphs” of their financial market research. As one of JP Morgan’s… Read More

Monetary Authority of Singapore to Extend Additional Funding to Fintech Projects in 2020

The central bank of Singapore is preparing to extend additional funding for Fintech-related projects, because the five-year investment round ending in March has led to positive developments. The Monetary Authority of Singapore (MAS) will most likely announce additional funding plans in 2020, with key investments… Read More

Leading AI Consultancy Brainpool AI Raises Capital on Seedrs

A leading artificial intelligence (AI) consultancy, Brainpool AI is raising capital on Seedrs. The consultancy is seeking £120,001 for a 3.3% equity stake in the firm. The company has set a pre-money valuation of £3.5 million. As this moment, Brainpool AI has raised over half… Read More

Turing Intelligence Technology Raises Over £1 Million for Expanding Company’s “Optimization Automation” Suite

Turing Intelligence Technology (TurinTech.ai), a research and innovation-driven artificial intelligence (AI) firm that focuses on automatic optimizations, has raised over £1 million through a seed funding round. Currently based in Cambridge, TurinTech.ai was established by four researchers at University College London (UCL). A resident at… Read More

Human AI Virtual Agents Firm Voca.ia Receives Funding from American Express Ventures

Voca.ai, a company that provides human artificial intelligence (AI) virtual agents, announced on October 23 that it has received funding from American Express Ventures, the strategic investment division of American Express (Amex), a New York-based multinational financial services corporation.  Existing investors lool ventures and Flint… Read More

Report: Singapore Is the Most Prepared City for Adopting Artificial Intelligence and Smart City Technologies

Singapore is the world’s most prepared city for adopting innovative technologies such as artificial intelligence (AI) and it’s also considered a world leader in terms of smart city development, according to recent studies. Research performed by Oliver Wyman Forum ranked 105 cities throughout the world… Read More

ZestFinance Rebrands: AI Software For Credit Provider Now Named Zest AI

ZestFinance, an artificial intelligence (AI) software for credit provider, announced once Monday it has rebranded to Zest AI. The company reported that as it celebrates its tenth year anniversary, it remains committed in its original mission to make fair and transparent credit available to everyone…. Read More

Global Regtech Market was Valued at $2.45 Billion in 2017, Projected to Reach $12.43 Billion by 2026

The global Regtech market was valued at $2.45 billion in 2017 and is projected to reach an estimated $12.43 billion by 2026, at a compounded annual growth rate (CAGR) of 22.51%. Regtech refers to set of tools developed to enhance the efficiency and effectiveness of… Read More

Russia’s Largest Bank Sberbank and Microsoft to Use Artificial Intelligence for Robotic Cash Handling

Sberbank Rossii PAO (MCX:SBER) and Microsoft Research (MSR) announced a joint initiative to explore the use of Microsoft’s artificial intelligence (AI) solutions in robotics. The project involves training robots to interact with real-world objects in the same way that humans do. Researchers at Sberbank will… Read More

Financial Giant HSBC Is Planning to Relaunch First Direct to Attract Younger Customers and Compete With Digital Challengers

HSBC, one of the world’s largest banking and financial services organizations, is planning to embrace new technologies and relaunch its “First Direct” brand in order to attract younger clients while competing with digital challengers. According to the Financial Times, the London-headquartered financial institution is considering… Read More

Report: Corporate Treasurers Say Cloud Computing, plus AI & Big Data Will Be Most Important Tech Advancement to Impact their Industry

Corporate treasurers believe that advancements in cloud computing will be one of the most important technological developments to impact their industry in the coming years. Big Data analytics and artificial intelligence (AI) are also expected to improve standard business processes. The Deutsche Bank-supported Economist Intelligence… Read More

Amsterdam-based ING Bank Launches Initiative to Promote Artificial Intelligence Adoption in the Netherlands

Amsterdam-based ING, a multinational banking and financial services corporation, has joined a group of organizations to promote the development and adoption of artificial intelligence (AI) in the Netherlands. The project is part of a nationwide plan to halt a brain drain of talented AI professionals… Read More

Chinese Internet Giant Tencent Leads $10 Million Investment Round in AI and Machine Learning Firm SenSat

UK-based SenSat, a company that converts complex visual and spatial data into a real-time simulated reality that allows computers to find solutions to real-world problems, has raised $10 million through a Series A investment round, which was led by Shenzhen-based internet giant Tencent. Sistema Venture… Read More

Palo Alto-based AI Firm Vianai Raises $50M In Seed Round, Plans to Transform Machine Learning Industry

Palo Alto-based artificial intelligence (AI) firm Vianai has raised $50 million through its seed round. Launched by former SAP executive Vishal Sikka, Vianai aims to transform the current machine learning (ML) industry. The company was introduced at the Oracle Open World, where Sikka was one… Read More

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