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NextGen:AI: Legislation should facilitate UK AI development - Lord Holmes

/ai

NextGen:AI: Legislation should facilitate UK AI development - Lord Holmes

Kicking off Finextra’s inaugural NextGen AI conference at Convene Sancroft in London, was Lord Chris Holmes of the UK House of Lords in his headline keynote titled: ‘AI in 2024: At the Edge’.

Italy's Banca Investis launches 'digital junior banker' with GenAI

/ai

Italy's Banca Investis launches 'digital junior banker' with GenAI

Italy's Banca Investis has launched an app that provides banking customers with real-time investment advisory backed by generative AI.

Klarna to hire 100 engineers for new tech hub in Poland

/payments

Klarna to hire 100 engineers for new tech hub in Poland

Klarna has opened a new technology hub in Warsaw, reflecting the city’s growing reputation as a centre of technology innovation.

BBVA creates GPT Store to house employee-generated AI tools

/ai

BBVA creates GPT Store to house employee-generated AI tools

Just five months after BBVA distributed 3,000 ChatGPT Enterprise licenses among its employees, 83 percent have incorporated it into their work routine and have created nearly 3,000 adaptations of the tool for specific tasks, ranging from financial data analysis to help to solve legal questions from clients in less than 24 hours or provide customer insights.

Revolut preps AI assistant, ATMs and mortgages for 2025

/ai

Revolut preps AI assistant, ATMs and mortgages for 2025

Revolut has laid out its plans for 2025, including the introduction of an AI assistant, mortgages, ATMs, and a business credit product.

55% of UK investors are unwilling to use AI tools for investment support – Avaloq

/ai

55% of UK investors are unwilling to use AI tools for investment support – Avaloq

Research from Avaloq, a banking and wealth management platform, indicates that UK wealth managers see AI as the future, but do not yet trust the technology.

NextGen: AI – Join Finextra in London next week

/ai

NextGen: AI – Join Finextra in London next week

Join us in London on 26 November to explore the current AI challenges, opportunities, and the future of AI in financial services.

AI adoption in UK FS sector grows but understanding lags

/ai

AI adoption in UK FS sector grows but understanding lags

Three quarters of financial services firms in the UK are already using artificial intelligence, yet nearly half of these users have only a "partial understanding" of the AI they are deploying, according to a Bank of England and FCA survey.

Australian banks pilot fraud intelligence sharing network

/security

Australian banks pilot fraud intelligence sharing network

Australia's top banks are piloting a fraud and scams intelligence-sharing network using behavioural- and device-based technology from security vendor BioCatch.

European central banks look to GenAI to improve inflation forecasting

/ai

European central banks look to GenAI to improve inflation forecasting

The Bank for International Settlements is working with the European Central Bank and Detusche Bundesbank to explore how generative AI could be applied to improve inflation forecasting.

AI-created digital documents and deep fakes pose biggest threat to financial services

/security

AI-created digital documents and deep fakes pose biggest threat to financial services

Digital document manipulation using AI and deepfakes have been revealed as the biggest growing threats facing the financial services industry going into 2025, according to a report by the Entrust Cybersecurity Institute.

NextGen: AI – OpenAI, others facing delays with training new LLMs

/ai

NextGen: AI – OpenAI, others facing delays with training new LLMs

Join us in London on 26 November to explore the current AI challenges, opportunities, and the future of AI in financial services.

FinCEN warns banks about deepfake threat

/ai

FinCEN warns banks about deepfake threat

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued an alert to help banks to spot GenAI-generated deepfake scams.

Canada's Neo raises C$360m in equity and debt

/retail

Canada's Neo raises C$360m in equity and debt

Canadian fintech Neo Financial has raised C$110 million in equity and another C$250 million in debt to fuel its efforts to take on the country's big five high street banks.

Argentinian fintech Ualá hits $2.75bn valuation on $300m funding round

/retail

Argentinian fintech Ualá hits $2.75bn valuation on $300m funding round

The VC arm of insurance giant Allianz has led a $300 million Series E funding round for Ualá which values the Argentinian mobile banking player at $2.75 billion.

NextGen: AI – UK AI market poised to grow six-fold

/ai

NextGen: AI – UK AI market poised to grow six-fold

Join Finextra at our inaugural London event at the end of November to redefine the role of AI in financial services and explore why the UK AI market is set to grow exponentially.

BBVA to train top executives in GenAI

/ai

BBVA to train top executives in GenAI

BBVA is creating a training programme to give its top executives a grounding in the use of GenAI to improve productivity.

NextGen: AI – Exploring the impact of generative AI in financial services

/ai

NextGen: AI – Exploring the impact of generative AI in financial services

Join Finextra at our inaugural London event at the end of November to redefine the role of AI in financial services and explore the impact of generative AI.

Tehanu completes world’s first ‘interspecies money’ transfer

/sustainable

Tehanu completes world’s first ‘interspecies money’ transfer

Africa-based startup Tehanu has completed its first ‘interspecies money’ transfer, which enables the transfer of funds through digital wallets associated with the conservation of Rwandan mountain gorillas.

Commbank comes clean over energy and water consumption for AI

/ai

Commbank comes clean over energy and water consumption for AI

Commonwealth Bank of Australia has clarified comments made by the bank's chairman at its general meeting over the use of renewable power sources and water to support its AI models.

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