Tagged: artificial intelligence

October 20, 2019 @ 12:20 pm By Omar Faridi  |  

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

October 18, 2019 @ 8:38 pm By Omar Faridi  |  

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

October 15, 2019 @ 10:51 am By Omar Faridi  |  

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

October 13, 2019 @ 9:33 am By Omar Faridi  |  

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

October 11, 2019 @ 3:17 pm By Omar Faridi  |  

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

October 1, 2019 @ 5:04 pm By Omar Faridi  |  

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

September 24, 2019 @ 3:29 am By Omar Faridi  |  

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

September 23, 2019 @ 7:34 am By JD Alois  |  

Pagaya has closed on a $200 million consumer credit asset-backed security (ABS) fully-managed by its AI. This transaction is Pagaya’s largest to-date and the fourth this year, bringing the Fintech’s issuance to $515 million in the first nine months of 2019, according to a note… Read More

September 5, 2019 @ 2:13 pm By Samantha Hurst  |  

Ping An Insurance Group announced on Thursday it was selected to develop the national Open Innovation For Next Generation Artificial Intelligence. The company reported that the announcement was made at the World Artifical Intelligence Conference 2019 in Shanghai and Ping An is claimed to be… Read More

August 15, 2019 @ 2:11 pm By Samantha Hurst  |  

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Thursday the launch of its new Grab & Go Store prototype. According to Wirecard, the store offers an entirely new shopping experience through AI. “Consumers enter the store via smartphone, pick products which are… Read More

August 13, 2019 @ 10:55 pm By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF) has partnered with the World Economic Forum (WEF) to jointly launch a research project addressing Artificial Intelligence (AI) in financial services. CCAF is an academic research institute at Cambridge Judge Business School, University of Cambridge, and is the… Read More

August 3, 2019 @ 4:37 pm By JD Alois  |  

Both the US House and Senate are out of session now as the pols exit the sweltering heat of Washington, DC, during the month August for a summer recess. Congress returns the following month to continue its work and the House Financial Services Committee, under… Read More

July 17, 2019 @ 1:45 pm By JD Alois  |  

Fintech software provider Temenos (SIX: TEMN), has acquired Logical Glue Ltd., a UK-based creator of the “Explainable AI” (XAI) platform. In a release, Temenos explained that the acquisition will accelerate Temenos’ artificial intelligence (AI) roadmap by providing AI credit scoring models that are immediately available… Read More

July 17, 2019 @ 6:00 am By JD Alois  |  

AlphaSense, an artificial intelligence (AI) platform, has secured $50 million in a Series B funding round led by Innovation Endeavors. AlphaSense already claims over 1000 corporate clients that use its market intelligence service. Other investors in the funding round include Soros Fund Management LLC, through… Read More

July 16, 2019 @ 8:00 am By JD Alois  |  

Backed by JP Morgan and Sequoia, Near has just raised $100 million in new financing from PE firm Greater Pacific Capital. Near is a company that uses AI to make “real-world data actionable.” The company claims to have the “largest data set of people’s behavior… Read More

July 12, 2019 @ 8:51 am By Nikolas Kairinos  |  

While artificial intelligence (AI) might sound like something out of science fiction movies or a Philip K. Dick Novel, it’s fast becoming a key feature of many of America’s biggest and most dynamic industries. The financial services industry, where small margins can mean millions of… Read More

April 18, 2019 @ 8:13 am By JD Alois  |  

Imandra, an artificial intelligence (AI) firm that analyses algorithms, has raised $5 million in seed funding led by Live Oak Venture Partners, IQ Capital, and AlbionVC. In 2015, Imandra won the UBS Future of Finance Challenge by using its AI technology to find a fundamental… Read More

February 25, 2019 @ 2:44 pm By Samantha Hurst  |  

Real estate crowdfunding platform RealtyMogul announced on Monday it has sold a machine learning and artificial intelligence loan underwriting tool to Hunt Real Estate Capital. According to RealtyMogul, Hunt Real Estate Capital plans to deploy the tool across its commercial real estate lending business. While sharing details… Read More

February 25, 2019 @ 10:40 am By Samantha Hurst  |  

U.S. fintech and online provider of business valuation big data BizEquity announced on Monday the launch of its new patent-pending artificial intelligence (AI) engine and lead service, Franklin. BizEquity reported that with Frankin it is launching a new lead generation and intelligent routing service to prospect and engage… Read More

February 5, 2019 @ 9:14 am By Erin Hobey  |  

The German digital insurance platform Friendsurance, which serves nearly 150,000 customers and works together with 175 insurance companies, now offers its digital bancassurance solutions under the new brand name Friendsurance Business. The expansion was made in  response to the increased demand from banks and insurance… Read More