Finastra Universe London 2017: open banking and the rise of AI
Finastra has revealed its focus on the open innovation of smart technologies in banking, alongside artificial intelligence (AI), machine learning/deep learning.
Artificial Intelligence/AI
When are we going to look at the human cost of AI?
Another week has passed, and another piece of research has emerged about the potential of artificial intelligence (AI), but the human cost is starting to become a very big elephant, reports Telecoms.com (Banking Technology‘s sister publication). The research itself is from SAS and highlights businesses are becoming normalised to the idea of AI. The concept […]
Blockchain and Bitcoin round-up: 9 November 2017
Whether it’s AI to bridge cryptocurrencies or someone accidentally losing it, something is always going on, whether right or wrong in the world of blockchain and Bitcoin. Our latest round-up features Parity, AiX, R3 and SIA.
Fintech funding round-up: 7 November 2017
Not cash-strapped just backed. Our latest fintech funding round-up features Douugh, Choice Financial, Monzo and Smartkarma. All rise please. Banking (not baking) challenger Douugh has partnered with community bank Choice Financial to launch an integrated checking account and debit card. Choice has also made an investment to “support Douugh’s roadmap”, bringing the company’s total seed funding […]
IBM’s Watson Data Platform focuses on AI
The IBM Watson Data Platform already provides data scientists with the ability to crunch numbers and share large data sets across different public and private clouds. Now the company has its sights set on artificial intelligence (AI), reports Enterprise Cloud News (Banking Technology‘s sister publication). Big Blue has announcing expanded capabilities and tools for the […]
Clinc goes global, partners with Isbank to offer conversational AI
Conversational AI innovator Clinc has partnered with Isbank, the largest private bank in Turkey, which will deploy Clinc’s technology within its two mobile banking apps.
BondIT closes $14m in funding
Advisory tools tech company BondIT landed $14 million in funding from China-based Fosun Group.
What adds up to $95 billion? Q3 for Google, Microsoft and Amazon
$43.7 billion for Amazon, $27.7 billion for Google and $24.5 billion for Microsoft. And it hasn’t even hit the Christmas sales period yet.
Persado unveils Persado One; lands $30m credit facility from Silicon Valley Bank
Artificial intelligence (AI)-generated marketing campaign company Persado has unveiled a new product, along with a fresh $30 million credit facility to fuel further expansion.
The changing face of financial crime compliance
Paul Taylor of Swift’s Financial Crime Compliance Services Division discusses the evolving compliance landscape and the critical role of technology in helping the industry come together as a whole to combat financial crime.
Fintech funding round-up: 25 October 2017
More of the latest stories from the fintech funding world. Features Verrency, Countingup, Finn.ai and Bud.
Clinc teams with Enacomm to bring AI chatbots to small banks and credit unions
Artificial intelligence (AI) fintech start-up Clinc is making its chatbot Finie more widely available through a new partnership with Enacomm.
Sibos 2017: treasurers look to tech to untangle knots
Untangling the “knots” at global treasuries, especially with regard to bank maintenance issues around know your customer (KYC) and other compliance activities, was the theme of a corporate treasury session yesterday (18 October) at Sibos.
Diebold Nixdorf IMS Conference 2017: shaping the future of retail banking
Last week (12 October 2017) was Diebold Nixdorf’s latest seminar at the Okura Hotel in Amsterdam. Accompanied by representatives from ING, Franz Informatik and Forrester. The first conference of the morning focused on shaping the future of banking.
Pelican unveils “innovation hub” fintech partnership model for banks
Pelican, a provider of artificial intelligence (AI) powered payments and financial crime compliance solutions for banks and corporates, has launched its Pelican Innovation Hub. The hub is not one in the traditional sense – i.e. a place for start-ups to turn up wearing jeans and get all creative. Pelican’s version is a partnership model as […]
Innovation hubs – where do you begin?
Discussing the strategies banks can adopt to choose the right innovation partners.
EastNets unveils real-time fraud detection solution
EastNets has launched its en.SafeWatch PaymentGuard (en.SWPG) at Sibos, a real-time fraud detection solution for Swift payments. The company says en.SWPG is a new artificial intelligence (AI)-powered solution, that can sort out “genuine transactions from suspicious ones and reduces the number of false positives”. Hazem Mulhim, CEO, EastNets, says it “recognises the mounting salience of […]
Sibos 2017: social media – identity capitalism
“Our social and business communications are edited by tech,” Vladan Joler, director of Share Foundation, stated at the Sibos Innotribe panel, How does Facebook know you better than you know yourself?.
Sibos 2017 opening plenary: data is the new battleground
Welcome to Sibos 2017 in Toronto – bringing together 8,000+ delegates from 150 countries. And this year we have a new (or the vintage new?) theme: data. Not the “big data” though (that everyone was talking about a few Sibos conferences ago), but just data.
Artificial intelligence: the shape of things to come
Many financial services industry firms are examining the potential of distributed ledger and artificial intelligence (AI) technologies. Is it too early for any meaningful deployment?
Microsoft and AWS buddy up to democratise machine learning
Microsoft and Amazon Web Services (AWS) have teamed up to launch an open-source, deep learning library called Gluon which will make machine learning (ML) more accessible to a wider range of developers, reports Telecoms.com (Banking Technology’s sister publication). That will be the key to winning the machine learning race. Not making the most complex and […]
Ten questions for, and about, AI
I have had it with the stream of articles about what artificial intelligence (AI) can do. Yes, machine learning works. It is possible to analyse key words, correlate them with other key words, do a massive amount of statistics, and find out some stuff. People cannot do that and computers can. Is this AI?
Top fintech stories this week – 13 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Innovate Finance contest calls for fintech start-ups
Innovate Finance, a UK-based fintech membership association, is seeking start-ups for its latest Pitch360 competition.
Alibaba sets aside $15bn R&D war chest to be a world beater
How do you try and become one of the biggest and most influential technology companies in the world? Just move the $15 billion you have stashed away into the R&D business.
The modern trade landscape: banks and digitalisation
Innovative technologies are increasingly sparking enhancements to trade processes. BNY Mellon Treasury Services’ Dominic Broom, global head of trade business development, and Joon Kim, head of global trade product, discuss how the industry – with banks at the helm – can drive forward new capabilities and help to support trade growth through digitalisation.
Dell putting its company muscle behind new IoT strategy
Dell Technologies is looking to leverage the various parts of the company into a new internet of things (IoT) strategy that focuses on the edge of the network, hyperconverged infrastructure at the middle, cloud computing in the data centre, as well as the end points picking up all the data.
Microsoft Ventures seeks AI-merican Idol
Microsoft Ventures has partnered with Madrona Venture Group to launch their Innovate.AI global start-up competition as they seek out machine learning and artificial intelligence (AI) firms. Madrona says the convergence of cloud computing, specialised chips for machine learning and new advances in algorithms has created a “unique opportunity for start-ups to build high value intelligent […]
IBM combining data science and AI for analytics advance
IBM is looking to offer big data number crunchers and data scientists a way to add more machine learning and deep learning technology into the analytics process by combining two of the company’s platforms developed specifically for artificial intelligence (AI) and scientific research. Enterprise Cloud News (Banking Technology’s sister publication) reports that two IBM executives, […]
It’s official – Siri is a simpleton
It is true, but might be a bit mean to single out the iLeader, as researchers have put various artificial intelligence (AI) programmes to the test, figuring out what the IQ of each one is.
Around Fintech in 8 Hours – new online course launched by CFTE
Centre for Finance, Technology and Entrepreneurship (CFTE) has launched a fintech foundation course – Around Fintech in 8 Hours – “designed to give professionals working in the finance industry a solid understanding of how technology is redefining the provision of financial services”.
Innovate Finance contest calls for fintech start-ups
Innovate Finance, a UK-based fintech membership association, is seeking start-ups for its latest Pitch360 competition. The contest is open to any start-up in the following sectors: Distributed ledger technology (DLT) Financial inclusion Cybersecurity Cross-border payments Peer-to-peer and alternative funding Regtech Personal finance management and robo-advice Artificial intelligence (AI) and machine learning Sandboxes The winner will […]
BNP Paribas is a Smart Chaser for AI-powered trade
BNP Paribas Securities Services is implementing Smart Chaser, a trade matching tool using artificial intelligence (AI) and predictive analysis, to further automate trade processing services it provides to investment managers. According to BNP Paribas Securities Services, trade matching – the comparison of trade details between the client and its broker – must be performed in […]
It’s official – Siri is a simpleton
It is true, but might be a bit mean to single out the iLeader, as researchers have put various artificial intelligence (AI) programmes to the test, figuring out what the IQ of each one is. Telecoms.com (Banking Technology’s sister publication) reports that Liu Feng of Beijing Jiaotong University, Yong Shi from the Chinese Academy of […]
Bank of England fintech accelerator feels the fourth for innovation
The Bank of England’s (BoE) fintech accelerator has unleashed four new initiatives in the fields of distributed ledger technology (DLT), data storage and analysis, machine learning and cybersecurity. As reported in July, BoE revealed the third stage – such as its work with machine learning Mindbridge AI, DLT darling Ripple, and regtech bouncer Enforcd. Now […]
Central banking and fintech: a brave new world?
This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilising force for the UK economy, inspiring others in the world of central banking.
Google bids for AI leadership with new Pixel 2 smartphone
Internet giant Google’s big gadget unveil is all about positioning itself for the artificial intelligence (AI) era, not becoming an iPhone killer, reports Telecoms.com (Banking Technology’s sister publication). The flagship product is the Pixel 2 – a product so important for Google that it blew a billion bucks on beefing up its R&D team. As […]
Google’s Deepmind sets out to tackle AI ethics
If you ask the world of technology to slow down a bit, you’re instantly branded as a technophobe. But perhaps a bit of reflection is needed in the artificial intelligence (AI) arena, reports Telecoms.com (Banking Technology’s sister publication). Google’s Deepmind is one of those which is starting to think a bit deeper about the big, […]
Why financial services should be terrified of dispensing wealth management robo-advice
Robo-advisors are software programmes that provide financial advice with minimal human intervention. Software has been providing advice for half a century, from portfolio management to trading strategies to currency management, and more. The novelty is providing robo-advice direct to consumers. Robo-advice costs less than “bricks & mortar & human” services, hopefully harvesting a bigger market. […]
Bring on the money drones
Following testing by Russia’s largest bank, Sberbank, to deliver cash to clients using a custom-made drone, the arrival of more frequent cash deliveries by drones look to be just around the corner, with reports suggesting as early as the end of 2017.
