Artificial intelligence

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IWallet brings Voice AI to payments

iWallet, the pioneer in digital payment solutions, announces a groundbreaking innovation with the introduction of Voice AI to payments. This revolutionary technology addresses the growing demand for advanced, secure, and user-friendly payment methods.

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Putin orders Russian bank to cooperate with China on AI

Sberbank, Russia’s largest financial institution, has been told to work with China on the development of AI-based services.

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Why Tier 2 & 3 Banks Often Struggle with AI/ML Adoption

Alongside the popularity of GenAI in modern conversation, Machine Learning is another technological innovation that continues to provide benefits in tandem. Dr Sridevi Tandley, Practice Leader, Data & Analytics in Banking, Aspire Systems in an interview with FinextraTV shared her insights into the AI/ML landscape and the greatest use cases. On top of this, she also discusses the difficulties tier 2 and tier 3 banks have implementing AI/ML into their processes and how they should lean into third-party vendors.

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Higher Quality Consumer Experience & Quicker Fraud Detection

There were a number of key takeaways at Finextra’s inaugural ‘NextGenAI’ event, but one that excited all, in particular, were the opportunities for fraud prevention. In this interview at the FinextraTV event studio, Stathis Onasoglou, Field CTO, Google discussed the statistics and real life use cases for GenAI across fraud prevention, efficiency and revenue generation. Onasoglou explains how as technology continues to develop, it increases our ability to detect fraud earlier and faster, as well as enhancing the customer experience.

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Finextra's year in review

With 2024 drawing to a close, we take a look back at our most popular news items and community engagement activities over the course of the past year.

/ai

TBC Bank Uzbekistan raises $37m

TBC Bank Uzbekistan (TBC UZ), the country’s largest digital bank, announces a $37 million equity investment from its majority shareholder London-listed TBC Bank Group PLC (TBC Group). This capital brings the total new equity funding secured in 2024 to $75 million, setting a new annual record for TBC UZ.

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Lending tech vendor Zest AI lands $200 million growth investment

Zest AI, a leader in AI lending technology, announced a $200 million growth investment from global software investor Insight Partners to support the company's next phase of transformation.

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Former UBS investment analyst unveils voice cloned AI education tool

Geoff Robinson, a former UBS investment analyst, has launched an educational app that uses his digitally cloned voice and AI-generated expertise to help self-directed investors lean on his experience.

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Google Cloud predicts four ways that GenAI will transform financial services

The next year will see an industry tipping point for AI innovation in the financial sector, says Zac Maufe, global head of regulated industries at Google Cloud.

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Databricks is raising $10B Series J investment at $62B valuation

Databricks, the Data and AI company, today announced its Series J funding.

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Bunq delivers real-time speech-to-speech AI translation

bunq, Europe’s first AI-powered bank, today announced a significant upgrade to its AI assistant, Finn, making it the first bank globally to introduce real-time speech-to-speech translation within its app.

/Artificial intelligence

Sehrish Alikhan Reporter at Finextra

How can AI become more sustainable?

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Scott Hamilton Contributing Editor at Finextra Research

What is agentic AI, and why should banks or customers care?

/security

Experian fraud report finds huge growth in GenAI technologies

Experian announced its 2024 Global Identity & Fraud Report that provides a comprehensive view of the consumer and business response to the latest fraud patterns and fraud‑mitigation strategies in the worldwide financial services sector.

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Allfunds introduces AI-powered navigation assistant

Allfunds, one of the leading B2B WealthTech platforms for the funds industry, today announces the launch of ANA (Allfunds Navigation Assistant), a new AI powered feature which improves usability and functionality for Allfunds Connect users, both Fund Houses and Distributors, to better navigate the platform and evolve their experience.

/Artificial intelligence

Dominique Dierks Senior Content Manager at Finextra

What is the global AI legislative outlook?

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Thoughtworks partners with AWS to accelerate generative AI adoption

Thoughtworks, a global technology consultancy, has entered into a Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to help enterprises implement generative AI (GenAI) solutions and tackle industry challenges in Asia Pacific.

/payments

Why financial technology can make global payments a frictionless process

Both consumers and businesses, as technology has developed, have begun to rely on global payment services for a variety of uses. As the process becomes more and more digitised, fintech firms are focussed on better speeds and transparency whilst remaining just as, if not more, secure.

/payments

10 trends that will impact payments in 2025, according to Mastercard

In this preview of a Mastercard report being released in early 2025, leaders at the card processer say that generative AI is emerging as critical to boosting fraud protection rates by as much as 300%.