Artificial intelligence

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Google Cloud wins major FS deals

/cloud

Google Cloud wins major FS deals

Google Cloud has used its annual Las Vegas event to unveil details of deals with big name financial services firms Citadel, Discover and Scotiabank.

/cloud

Silvr taps Google Cloud for AI-powered SME financing

Google Cloud and Silvr, a French startup specialising in short-term financing for SMEs, today announce a technological partnership, leveraging AI to facilitate entrepreneurs' solvency calculation and access to financing.

/regulation

Oracle launches AI-powered cloud service to help banks mitigate AML risks

With $5.05 trillion expected to be laundered this year alone, banks are struggling to keep up with the cost and complexity of compliance.

/regulation

SymphonyAI launches sanctions tech

SymphonyAI, a leading provider of predictive and generative enterprise AI SaaS solutions, today announced SensaAI for Sanctions, a platform-agnostic “AI upgrade” for any sanctions solution.

/retail

GFT taps Google for GenAI assistant

Projections show that the global AI adoption rate could grow as much as 40% between 2023 and 2030.

/wholesale

Linedata acquires French AI startup

Linedata (Euronext Paris: LIN), a global provider of asset management and credit technology, data, and services, today announces the acquisition of DreamQuark, a renowned French startup specializing in the development of artificial intelligence (AI) platforms and services for the financial services sector.

Fintech funding slides to 7-year low

/startups

Fintech funding slides to 7-year low

Global funding in the fintech sector has fallen to its lowest level since 2017, according to newly published research.

/cloud

Mphasis and AWS launch Gen AI Foundry for financial services

Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced a multi-year global Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS).

/regulation

Wolters Kluwer launches AI-powered regtech service

Wolters Kluwer Compliance Solutions has launched OneSumX® Reg Manager to help U.S. community banks and credit unions enhance their regulatory change management efforts.

/security

CaixaBank explores use of AI to tackle cyber threats

CaixaBank will be part of two European consortia to prevent cyberthreats and provide a faster and more secure response in the face of potential incidents.

/people

Provenir name Christopher Brown senior sales exec, Middle East, Africa, and Turkey

Provenir, a leading global provider of AI-powered risk decisioning software, today announced Christopher Brown's appointment as Senior Sales Executive for the Middle East, Africa, and Turkey (MEA&T) region.

/cloud

Zand Bank subscribes to Infosys Finacle corporate banking suite

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY) and Zand Bank (Zand), UAE’s first digital-only bank, today announced the bank’s decision to subscribe to the Infosys Finacle Solutions suite to power its corporate banking services.

/wholesale

Iceberg Data Lab secures $10m in funding

Iceberg Data Lab (“IDL”), a leading provider of climate and biodiversity data solutions for financial institutions, today announces the first close of its Series A at US$10m (GBP £8m).

/retail

First Abu Dhabi Bank and Microsoft team up for AI innovation hub

First Abu Dhabi Bank (FAB) and Microsoft will collaborate in developing new AI-based banking capabilities under a strategic business partnership signed today, with the UAE’s largest bank and the global technology leader to cooperate on the launch of an ‘AI Innovation Hub’ for financial services.

US and UK sign agreement to regulate AI models

/regulation

US and UK sign agreement to regulate AI models

The governments of the UK and US have signed what they claim is the first international bilateral agreement to regulate the risks of artificial intelligence (AI) models.

/cloud

Informatica launches AI data management platform in KSA

Informatica, the enterprise cloud data management leader, today launched its AI-powered Intelligent Data Management Cloud™ (IDMC) in Saudi Arabia, a first for the Kingdom.

ValidMind raises $8.1m for AI risk management platform

/startups

ValidMind raises $8.1m for AI risk management platform

ValidMind, an AI and model risk management platform for financial services, has raised $8.1 million in seed funding.

/startups

Fintech Innovation Lab New York names 2024 class

Ten emerging technology companies have been selected to participate in the 2024 FinTech Innovation Lab New York, a 12-week program founded and run by Accenture and the Partnership Fund for New York City that helps early- and growth-stage fintechs accelerate product and business development through in-depth engagement with top financial services and venture capital executives.

Advancing payments: How can innovation drive business growth?

/payments

Advancing payments: How can innovation drive business growth?

At MPE 2024, Neil Caldwell, Senior Vice President, Merchant Sales & Acquiring, Visa Europe, explores the influence of Open Banking and regulatory changes such as PSD2 on the payments industry. We discuss how technologies like tokenization and biometric authentication safeguards merchants and drives growth; and look at methods for optimising payments and enhancing customer experience, alongside exciting developments in biometric payments, real-time platforms, and the integration of artificial intelligence and machine learning.

Banks told to expand risk management to cover AI

/security

Banks told to expand risk management to cover AI

A report from the US Treasury has called on banks to bolster their risk management frameworks in order to avoid being overwhelmed by AI-powered fraudsters and cybercriminals.

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