Latest Artificial intelligence News: Finextra Research

Amazon Web Services and Microsoft cloud duopoly to be investigated by Ofcom

Historically, it could be argued that financial institutions were beholden to pick between AWS, Google Cloud and Microsoft Azure for all workloads due to availability, but with other smaller cloud providers offering private cloud fabrics, financial organisations are considering hybrid or multicloud options. However, Ofcom has an alternative view.

06 October 2023

Finextra TV/Sibos

Unlocking the Power of Generative AI in Financial Services

At Sibos 2023, Kanika Hope, Chief Strategy Officer, Temenos, and Tyler Pichach, Executive Director, Global Business Solutions, Microsoft, discuss how generative AI will impact banks, transforming operations and value propositions, and the role of cloud technology in enabling embedded finance.

05 October 2023

Company update/retail

Best Innovation Group adds GPT tech to banking package

Best Innovation Group (BIG), a pioneer in digital banking solutions, and Bonifii, a leading digital identity company, today announced the joint development of FIVEGPT, a comprehensive digital banking solution that seamlessly bridges voice commands, call centers, and other multi-modal service channels.

04 October 2023

News/sustainable

Sustainable Finance Live sneak peek: Finastra’s Chirine Ben Zaied

As Sustainable Finance Live 2023 approaches on 10 October at Events@No6 London, Finextra spoke to a few speakers to provide attendees with an insight into what’s to come. This week we spoke with Chirine Ben Zaied, head of innovation at Finastra who will be mentoring the hackathon participants, which is taking place ahead of and during the conference.

04 October 2023

News/retail

UOB trials Microsoft 365 Copilot generative AI tool

Singapore-based bank UOB is set to trial Microsoft 365 Copilot, a generative AI-powered productivity tool, with several hundred employees.

04 October 2023

Company update/wholesale

Intesa Sanpaolo chooses iGenius to apply generative AI to business intelligence

Intesa Sanpaolo, Italy's leading bank and among the largest in Europe, has chosen iGenius – a cutting-edge company that applies its generative AI technology to business intelligence (BI) – to implement its BI solutions.

03 October 2023

Company update/payments

Fuse launches Income Verification Tool to support lenders to improve decision making

AI powered transaction analytics firm, Fuse, has enhanced its offering with the introduction of a new Income Verification Tool, which uses transaction data to provide lenders with detailed insight and probabilistic estimates into the income streams of prospective borrowers, while also painting a fuller picture of their financial position in real time.

03 October 2023

News/payments

Visa creates $100 million generative AI venture fund

Visa has opened a $100 million warchest to invest in companies harnessing generative AI technologies and applications for commerce and payments.

03 October 2023

Company update/startups

BNP Paribas hosts AI speed networking event in Birmingham

Leading finance provider BNP Paribas Personal Finance UK is inviting fintechs and tech businesses with expertise in AI to join its Connector Series event in collaboration with SuperTech — an organisation supporting tech innovation in the West Midlands.

03 October 2023

News/people

AI could lead to 3 1/2 day work week, predicts Jamie Dimon

JPMorgan Chase boss Jamie Dimon says that while AI might lead to job loses it could also help to usher in a three-a-half day work week.

03 October 2023

Company update/security

WorkFusion releases AI transaction monitoring investigator

WorkFusion, a leading provider of AI digital workforce solutions for banking and financial services, today announced that it has rolled out its newest Digital Worker, Isaac, an AI Transaction Monitoring Investigator.

02 October 2023

News/devops

AI race heats up between France and UK

Xavier Niel, French billionaire and chairman of the Iliad group, has announced his intention to host an AI conference in Paris in November, the same month as Britain’s AI Safety Summit.

29 September 2023

Company update/markets

Sigma unveils AI-based, no-code suite of tools for traders

SIGMA Financial AI, an innovator in developing AI-driven trading solutions, launches Akili-AI, a sophisticated suite of enterprise-ready trading strategy tools.

28 September 2023

News/retail

ECB experiments with ChatGPT-style AI

The European Central Bank is exploring the use of ChatGPT-like large-language models for things such as document analysis and software testing.

28 September 2023

Company update/people

Mastercard joins with Rochester Institute of Technology in Dubai to foster nex-gen AI talent

With AI playing an increasingly transformational role across our lives, Mastercard and the Rochester Institute of Technology (RIT) in Dubai have signed a Memorandum of Understanding (MoU) to foster talent in the region and advance AI innovation globally.

27 September 2023

Finextra TV/Sibos

The Journey from Open Banking to Open Finance

Alistair Brown, VP Open Banking and Payments, EPAM, discusses European banking sector regulations, the role of enhanced AI solutions in tackling fraud, risk, and cybersecurity, and the benefits of enhancing customer experience at Sibos 2023.

26 September 2023

Company update/payments

Primer rolls out AI tool to boost merchant revenue by improving payment success

Primer, the unified infrastructure for global payments and commerce, has announced the launch of UpliftAI, a first of its kind AI payments tool designed to empower online merchants to predict, optimise and deliver the highest possible authorisation rate across all global processors to drive revenue growth.

26 September 2023

Company update/cloud

Monese core banking offshoot XYB collaborates with Google Cloud for generative AI input

Today, XYB, a visionary provider of an end-to-end 'coreless' banking platform, is announcing a collaboration with Google Cloud to bring generative AI within its coreless banking platform.

26 September 2023