Latest Artificial intelligence News: Finextra Research

Singapore builds software toolkit to help FIs use AI responsibly

The Monetary Authority of Singapore and a host of industry players have released an open-source toolkit to help financial institutions use artificial intelligence ethically and responsibly.

07 February 2022

Research/Artificial intelligence

The Future of Regulation 2022

07 February 2022 1113 downloads

Company update/retail

Personetics joins Finxact marketplace

Finxact, the leading provider of the next-gen core banking platform to the US regional and super-regional banking sector, today announced that Personetics has joined its Marketplace of best-in-class banking solutions.

03 February 2022

News/markets

Humans trump AI at making money in financial markets - study

Humans still have the edge over artificial intelligence when it comes to making money in the financial markets, according to a new paper which raises questions about previous research into the topic.

03 February 2022

News/cloud

Shawbrook taps AI to make loan pricing decisions faster

UK specialist lender Shawbrook Bank says it is generating personal loan rates five times quicker since rolling out an in-house built AI-enabled pricing environment.

01 February 2022

Company update/cloud

VTB and Yandex.Cloud develop a unique voice for financial assistant

VTB is the first on the market to introduce its own voice for Yandex.Cloud's Alice virtual assistant.

01 February 2022

News/people

TD Bank to hire 2000 tech staff

Canada's TD Bank plans to hire 2000 tech staff over the course of the year as the battle for talent in the banking sector escalates.

27 January 2022

News/retail

Mastercard to fund research into racial bias in credit decisioning

Mastercard is to commit $5 million to support the creation of a Center for Applied Data Science and Analytics (Cadsa) at Howard University, focused on addressing racial bias in AI-driven credit approval processes.

26 January 2022

News/payments

Visa partners with Pagaya to to help issuers expand access to credit

Visa has formed a strategic relationship with AI fintech Pagaya to enable its merchant and issuing bank partners to expand access to credit.

25 January 2022

Company update/startups

TurboTax competitor April raises $10m

April (April Tax Solutions Inc.), a tech-powered tax platform that simplifies the filing process and integrates tax preparation into broader financial wellness, launched operations today, in partnership with leading financial institutions such as Propel.

19 January 2022

News/retail

Personetics raises $85 million

Personetics, an Israel-based fintech that uses AI to help financial institutions boost customer personalisation and engagement, has raised $85m in growth funding from Thoma Bravo.

19 January 2022

Company update/payments

Bank of America launches AI-enabled CashPro Forecasting

Bank of America today announced the launch of CashPro Forecasting, a tool that uses artificial intelligence (AI) and machine learning (ML) technology to more accurately predict future cash positions across clients’ accounts at Bank of America and other financial institutions.

18 January 2022

Company update/retail

ZeroPay goes live with Scienaptic AI-powered credit decisioning platform

Leading AI-powered credit decisioning disruptor, Scienaptic announced that ZeroPay is now live on its platform. The platform will enable ZeroPay to make very accurate credit decisions and limit assignment in the Buy Now, Pay Later (BNPL) segment.

18 January 2022

News/sustainable

City of London policy chair hails UK capital as a centre of green finance

This week, the FCA and the City of London Corporation held a demo day for its Sustainability Cohort initiative, which aims to further green the financial sector and catalyse the transition to net zero.

18 January 2022

News/cloud

JPMorgan Chase to spend $12bn on tech this year

JPMorgan Chase will spend more than $12 billion on technology in 2022, contributing to an eight per cent rise in expenses that could hurt the bank's profitability targets.

17 January 2022

News/sustainable

Tintra launches foundation to protect hunter-gatherers

Fintech firm Tintra has just unveiled a charity foundation to help protect the planet’s last remaining hunter-gatherer tribes. As a primary endowment, Tintra has committed $2 million to the charity.

14 January 2022

Company update/retail

Scienaptic AI integrates with CU*Answers credit union

Leading AI-powered credit decisioning platform provider, Scienaptic AI announced its full integration with CU*Answers. The seamless integration of Scienpatic's AI-powered decisioning will provide new opportunities for CU*Answers credit union partners looking to expand credit access for their members.

14 January 2022

News/regulation

Shield raises $15m for AI-driven communications compliance platform

Shield, a workplace intelligence platform for compliance teams at financial services firms, has raised $15 million in a Series A funding round led by Macquarie Capital and OurCrowd.

13 January 2022

Company update/markets

Softbank injects $146 million into AI for asset management firm Qraft

AI enabled fintech company Qraft Technologies, Inc. (“Qraft” or “the company”) today announced that it has closed a US$146 million investment from SoftBank Group Corp. (“SoftBank”), which includes primary growth capital and secondary capital that will be used to fund share purchases from investors.

13 January 2022

News/retail

Mastercard buys personalisation platform McDonald's

Mastercard has agreed to buy personalisation platform and decision engine company Dynamic Yield from McDonald's. Financial terms were not disclosed.

21 December 2021