Tagged: artificial intelligence

March 15, 2020 @ 12:19 pm By Omar Faridi  |  

Paris-headquartered Akur8, a company that’s developing an artificial intelligence (AI)-enhanced insurance pricing platform, has secured €8 million via a Series A round from BlackFin Capital and MTech Capital. The funds raised will be used to expand the firm’s business operations across North and South America… Read More

March 13, 2020 @ 7:50 pm By Omar Faridi  |  

The United Arab Emirates’ (UAE) banking sector has become increasingly competitive due to the significant increase in the number of Fintech firms in the Middle Eastern country. The UAE has also established (for the most part) progressive regulatory guidelines and is in the process of… Read More

March 11, 2020 @ 6:33 pm By Omar Faridi  |  

Finantix has reportedly signed an agreement for the acquisition of Zürich-based InCube Group AG, a company with a team of artificial intelligence (AI) specialists, quant and application developers and finance professionals that create data-driven, AI-powered products for wealth managers and insurers. Finantix’s acquisition of InCube… Read More

March 10, 2020 @ 4:39 pm By Omar Faridi  |  

A study recently published by Juniper Research has revealed that total spending on artificial intelligence (AI)-enhanced platforms and solutions will surpass $15 billion by 2024. Juniper Research’s latest study, titled AI Strategies for Network Operators: Key Use Cases & Monetisation Models 2020-2024, noted that only… Read More

March 8, 2020 @ 12:51 pm By Omar Faridi  |  

London-based Fintech firm Finastra has revealed that its customers will be able to Active.Ai‘s conversational artificial intelligence (AI)-based retail banking app, which was integrated with the FusionFabric.cloud platform. Active.Ai is now accessible via the FusionStore. Finastra is now offering banks and its credit union customers… Read More

March 7, 2020 @ 9:23 am By Omar Faridi  |  

The global neo and challenger bank market is projected to reach a valuation of approximately $578 billion by 2027, at a compounded annual growth rate (CAGR) of about 46.5% from 2019 to 2027. This, according to a recent report from Facts and Factors Market Research,… Read More

March 6, 2020 @ 10:07 pm By Omar Faridi  |  

Kuwait-based company Path Solutions has introduced the Path Digital and Path Intelligence platforms to allow local banks to offer clients a seamless and intelligent digital banking experience.  The Fintech solution provider noted that the launch of the new platform will complement its new Intelligent Digital… Read More

March 5, 2020 @ 10:17 am By Omar Faridi  |  

A recent study published by Juniper Research claims that by 2024, the number of digital banking customers will surpass 3.6 billion, which would be a significant 54% increase from the current 2.4 billion users in 2020. This considerable growth has been attributed to the steady… Read More

March 5, 2020 @ 7:24 am By Omar Faridi  |  

Billionaire Richard Branson’s Virgin Money, a major financial services brand used by three independent brand-licensees based in Australia, South Africa and the UK, is teaming up with Deloitte Digital and Temenos, a Switzerland-based banking software company.  Through the partnership, Virgin Money plans to establish a… Read More

February 21, 2020 @ 11:09 am By Omar Faridi  |  

SoftBank, a Japan-based global conglomerate holding firm with more than $283 billion in assets, is reportedly planning to invest $100 million, through its second Vision Fund, into Behavox, a UK-based company that uses artificial intelligence (AI) to monitor workers’ behavior at financial services firms. SoftBank’s management… Read More

February 20, 2020 @ 2:31 am By Omar Faridi  |  

OTB Ventures (OTB), a VC fund focused on making strategic investments in technology firms based in central and eastern Europe, has introduced an early-stage tech fund, which is notably the biggest venture capital fund in the region. The fund has reportedly received $100 million in… Read More

February 20, 2020 @ 1:29 am By Omar Faridi  |  

LenDenClub, a peer-to-peer (P2P) lending solution provider, has teamed up with Singapore-headquartered CredoLab, an established developer of bank-grade online credit scorecards, which are based on mobile phone metadata.  LenDenClub has integrated CredoLab’s credit scoring system, called CredoSDK. The credit system will help the firm in… Read More

February 19, 2020 @ 9:57 pm By Omar Faridi  |  

Bank of Singapore, the private banking arm of OCBC Bank (Oversea-Chinese Banking Corporation, Limited) (SGX: O39), has appointed Celine Le Cotonnec to the institution’s newly created role of chief data and innovation officer. Le Cotonnec will be reporting directly to Bahren Shaari, the CEO at… Read More

February 18, 2020 @ 10:14 am By JD Alois  |  

MaxDecisions, a Fintech A.I. and machine learning analytics company, has hired Bernard Guerrero as Vice President of Decision Sciences to further expand analytical products and offerings. MaxDecisions is an analytical company utilizing the power of machine learning and artificial intelligence software to assist specialty financing… Read More

February 17, 2020 @ 8:52 am By Omar Faridi  |  

William Russell, the Lord Mayor of the city of London, noted recently that the UK is planning to support Qatar in becoming a leading financial technology (Fintech) hub in the Middle East. Russell praised the new legislation and regulations being developed by the Qatari government… Read More

February 12, 2020 @ 8:42 pm By Omar Faridi  |  

The global artificial intelligence (AI) market size is projected to hit $390.9 billion by 2025. The market is expected to achieve a compound annual growth rate of 46.2% from 2019 to 2025. AI is a major technological innovation along with Big Data advancements, machine learning… Read More

February 6, 2020 @ 4:12 pm By Omar Faridi  |  

Yseop, a 12-year-old France-based software development firm, recently introduced an enterprise-level natural-language generation (NLG) automated report generation solution, called the Augmented Analyst, in order to assist financial service providers with their digital transformation efforts. Yseop has reportedly worked cooperatively with Moody’s, BNP Paribas, and Sanofi… Read More

February 6, 2020 @ 10:29 am By Omar Faridi  |  

The European Central Bank (ECB) has partnered with Reply, a platform focused on digital innovation, in order to offer a 48-hour coding marathon, which will focus on teaching participants how to apply the latest artificial intelligence (AI) and machine learning (ML) algorithms. The marathon is… Read More

February 5, 2020 @ 10:19 pm By Omar Faridi  |  

The United Arab Emirates’s (UAE) Ministry of Health and Prevention (MoHAP) has teamed up with the nation’s Ministry of Presidential Affairs, Dubai Healthcare City and several other local government agencies in order to launch a blockchain-enabled health data storage platform. The Emirates News Agency reported… Read More

February 5, 2020 @ 8:24 am By Omar Faridi  |  

Regulatory technology (Regtech) firm Encompass has reportedly won a £2 million grant from the Scottish Enterprise, in order to create an artificial intelligence (AI)-enhanced engine to complement its existing know-your-customer (KYC) product offering. The latest funding is part of an initiative with a total value… Read More