Artificial intelligence

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Finextra's top impact study reports of 2023

With 2023 drawing to a close, we take a look back at our most downloaded impact study reports over the course of the past year. Our impact study reports are how-to, best practice guides that support those in the financial industry in their utilisation and optimisation of particular technologies, as well as providing an outlook at future trends to watch.

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Tarabut partners with decentralised savings platform Hakbah

Hakbah - the KSA-based fintech savings platform - announces a new partnership with Tarabut - MENA’s leading open banking platform, and an investor in the region’s digital transformation.

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Bunq launches GenAI chatbot

Bunq has launched its own generative AI platform that the Dutch neobank says will "wow" customers with its ability to answer money-related questions.

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FactSet launches AI chatbot to drive efficient workflows for junior bankers

FactSet, a global financial digital platform and enterprise solutions provider, today announced the beta release of its latest AI advancement, FactSet Mercury, an innovative large language model-based knowledge agent to power modern digital workflows and enhance fact-based decision making.

/retail

UK consumers divided on use of generative AI in banking - FIS

FIS (NYSE: FIS), a global leader in financial services technology, has conducted new consumer research into the extent to which people understand and trust generative artificial intelligence (GenAI), as well as their attitudes towards the emerging technology’s role in personal finance and banking.

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CaixaBank creates 100-strong GenAI team

CaixaBank has assembled a multi-disciplinary task force of more than 100 people to exclusively work on and deploy generative artificial intelligence in specific areas of internal and customer-related services.

/security

Allianz develops machine-learning ‘Incognito’ tool to identify fraud claims

With the exponential rise in sophisticated technologies, Allianz aims to stay one step ahead in combatting fraudulent insurance claims with AI technology.

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BlackRock rolls out GenAI to staff and clients

Global investment manager BlackRock has announced the rollout of generative AI tools as soon as January in a bid to embrace the nascent technology.

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Fujitsu partners with Palantir Technologies to boost business transformation

Sustainable digital transformation company Fujitsu has allied with Palantir Technologies to boost business transformation in Japan and solve societal challenges.

/startups

Canapi Ventures raises $750m fintech fund

Canapi Ventures, a VC firm focussed on fintech startups, has raised $750 million for its second fund.

/wealth

AI-powered investment assistant Helix by HL snags $6 million Seed round

Helix by HL, the innovative generative AI assistant revolutionizing private market investing, announced today the successful completion of its Seed+ funding round with a raise of $6 million at a post-money valuation of $26 million.

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Airwallex improves customer onboarding with generative AI

Airwallex today shared data on the impact of a new generative AI tool that enhances the speed and efficacy of its “Know your Customer” (KYC) and onboarding processes.

/regulation

BofE to review AI risk to financial stability

The Bank of England is launching a review of artificial intelligence and machine learning amid concerns that its use could pose financial stability risks.

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Finastra survey shows global investment in AI, embedded finance, and BaaS

Finastra’s annual global State of the Nation Survey revealed that the financial services sector is investing in new innovations in artificial intelligence (AI), embedded finance, and Banking-as-a-Service (BaaS).

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Westpac and nCino lead $28 million round in Rich Data Co

Westpac and nCino have led a $28 million funding round in Rich Data Co, an Australian AI decisioning platform for bank business lending.

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Mastercard launches GenAI retail assistant

Mastercard has unveiled a generative AI retail assistant tool that offers shoppers tailored product recommendations.

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Plum targets Greece with Eurobank backing

UK-based smart money app Plum has secured a €10 million minority equity investment from Greece's Eurobank as part of a strategic partnership in the region.