Latest Artificial intelligence News: Finextra Research

Company update/people

FinCrime Dynamics adds Joanne Dewar to board

FinCrime Dynamics, the financial crime prevention AI company, is pleased to appoint Joanne Dewar, the recognised Fintech leader to join the board.

20 November 2023

News/people

Ousted OpenAI boss to work for Microsoft

Sam Altman, the former CEO of OpenAI, the developer of generative AI platform ChatGPT, has resurfaced at Microsoft just days after he was pushed out by the board of directors.

20 November 2023

Finextra TV/devops

Concepts to commercialisation: Growing digital assets

In the lead up to Singapore Fintech Festival, Lee Zhu Kuang, Chief Digital, Data and Innovation Officer for Securities Services, HSBC, evaluates the transformative impact of tokenisation and the role of AI standardisation in enhancing scalability and interoperability. We discuss the impact of digital assets and the need to balance financial expertise, regulatory compliance, custody services, and investor security for sustainable industry growth.

20 November 2023

News/markets

EC makes supercomputers widely accessible to foster AI development

The European Commission has opened access to EU supercomputers to bolster AI development and push AI initiatives.

17 November 2023

Finextra TV/retail

Generative AI: The tipping point for future banking

In the lead up to Singapore Fintech Festival, Shayan Hazir, HSBC's Chief Digital Officer for ASEAN, considers initiatives to integrate Artificial Intelligence into current financial infrastructure and the importance of experimentation and collaboration for operational transformation. We discuss the challenges in data orchestration, responsible implementation, public utilities and identify future opportunities in this space.

17 November 2023

News/cloud

Alibaba backtracks on cloud division split amid global uncertainties

Alibaba Group has cancelled its plans to spin-off its cloud division due to uncertainties from US exports on AI chips.

17 November 2023

Company update/retail

RCBC to integrate BizBaz' AI credit scoring and risk models

Bizbaz, an institutional-grade AI-driven credit scoring and risk models assessment solution for the unbanked and underbanked in Asia based in Singapore, today announced its partnership with RCBC, a leading national retail bank in the Philippines.

17 November 2023

Company update/startups

ForwardLane selected for AWS NVIDIA Global Fintech Accelerator

ForwardLane, creators of EMERGE, an enterprise-ready generative AI platform, today announced its selection into the inaugural AWS NVIDIA Global Fintech Accelerator. The prestigious program backs pioneering startups using technology to transform financial services.

17 November 2023

News/retail

JPMorgan Chase tops bank AI index

JPMorgan Chase is the world's top bank for artificial intelligence maturity, with Capital One and Royal Bank of Canada hot on its heels but European lenders lagging behind, according to the annual Evident AI Index.

17 November 2023

News/security

Lynx raises $18m for AI-powered fraud fighting tech

Lynx, a Madrid-based firm using AI to detect and prevent fraud and financial crimes, has raised $!8 million in Seres A funding.

16 November 2023

News/regulation

Singapore develops generative AI risk framework; digital money and ESG also to the fore

The Monetary Authority of Singapore has brought together banks and tech firms to develop a generative AI risk framework and is now exploring how the technology can be used in the financial services sector.

16 November 2023

Finextra TV/retail

The positive impact of AI on customer experience in financial services

With the shift from Google to GPT-4 for information searches, Greg Krasnov, the founder of Tonik Bank, examines AI’s growing influence on the financial industry ahead of this week's Singapore FinTech Festival. The discussion explores how banks are adopting AI, the implementation of Gen AI in customer interactions, where friction between regulation and innovation may arise, and the impact it is having on customer acquisition and credit applications.

15 November 2023

Company update/security

ECI ships large language model application

ECI, the leader in managed services and cybersecurity for the global financial services industry, today announced the launch of its cutting-edge ECI Large Language Application (ELLA) managed platform, the first secure large language model (LLM) application for the alternative financial market and other highly regulated industries.

15 November 2023

Company update/markets

Dataiku welcomes Databricks to LLM Mesh partner programme

Dataiku, the platform for Everyday AI, today announced that Databricks is the latest addition to its LLM Mesh Partner Program.

15 November 2023

Company update/cloud

MUFG inks multi-year deal with AWS

Amazon Web Services (AWS), an Amazon.com company (NASDAQ:AMZN), today announced that Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial services provider, is accelerating its cloud-first strategy with AWS as its preferred cloud provider.

14 November 2023

Company update/security

Feedzai and CoreCarrd form fraud busting AI pact

Feedzai, the leading provider of financial crime and risk management solutions, has partnered with CoreCard, the gold-standard international provider of prepaid and credit technology solutions and processing services to banks and the financial technology and services market.

14 November 2023

News/payments

CBA to release AI source code for countering abusive transaction messages

Commonwealth Bank of Australia is to make its artificial intelligence and machine learning techniques for countering abusive transaction messages available for free, to any bank in the world.

14 November 2023

Finextra TV/regulation

Regulatory challenges with AI require a collaborative response

Jo Ann Barefoot, Founder & Chief Executive Officer of Alliance for Innovative Regulation (AIR), discusses the challenges presented by rapidly evolving AI in the global banking landscape and examines the pace of regulatory response. In the lead up to Singapore Fintech Festival 2023, the discussion covers ethical AI innovation, the risks associated with fraud and bias, and the potential role of AI assistants in consumer protection. Jo emphasizes the importance of regulators adopting cloud technology and AI, highlighting the significance of collaborative efforts among stakeholders to navigate the intricacies of AI in banking.

10 November 2023