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AI adoption doubles in UK banking sector

/ai

AI adoption doubles in UK banking sector

There has been a "significant shift" in UK banks' attitude to AI with greater adoption and greater recognition of its benefits, according to recently published research.

AI set to revolutionise wealth management operations - survey

/ai

AI set to revolutionise wealth management operations - survey

Artificial intelligence is set to revolutionise the wealth management industry, with nine in 10 investors believing the technology can used effectively for researching financial products and service.

Visa to buy UK fraud fighting tech provider Featurespace

/ai

Visa to buy UK fraud fighting tech provider Featurespace

Visa has signed a definitive agreement to acquire British AI-powered financial fraud fighting outfit Featurespace for an undisclosed sum.

Survey uncovers tech aversion within financial institutions

/regulation

Survey uncovers tech aversion within financial institutions

The majority of UK-based financial firms are risk-averse when it comes to new technology, according to recently published research.

“Saving patient zero”: Blackwired's new approach to cybersecurity

/security

“Saving patient zero”: Blackwired's new approach to cybersecurity

Cyber risk has advanced to be the number one risk to the global economy.

Visa in talks over £700m Featurespace acquisition - Sky News

/security

Visa in talks over £700m Featurespace acquisition - Sky News

Visa is in talks with Featurespace about a £700 million acquisition of the British financial fraud fighting outfit, according to Sky News.

Finextra launches NextGen:AI, a new event defining AI's future in financial services

/ai

Finextra launches NextGen:AI, a new event defining AI's future in financial services

Join Finextra in London on 26th November 2024 to challenge the perception of AI and its role in financial services.

EBAday 2024: Calling early-stage startups to showcase products

/startups

EBAday 2024: Calling early-stage startups to showcase products

The 19th edition of EBAday, the largest annual European event for payments and transaction banking, will return on 18th – 19th June 2024 at CCL in Lisbon, Portugal.

MPE 2024: AI-driven misinformation and consumer education in fraud

/crime

MPE 2024: AI-driven misinformation and consumer education in fraud

In an exclusive interview at Merchant Payments Ecosystem 2024, trust and safety architect at Sift Brittany Allen spokes with Finextra on new challenges in the fraud space, and how the spread of misinformation on social media is a major concern with AI-driven technology.

Theia Insights raises $6.5m to bring AI to investment community

/startups

Theia Insights raises $6.5m to bring AI to investment community

A former Amazon Alexa scientist has raised $6.5 million for a startup vowing to bring foundational AI to the global investment community.

Revolut launches AI-based scam detection feature

/security

Revolut launches AI-based scam detection feature

Revolut has launched an AI-powered anti-scam feature to protect customers from falling victim to authorised push payment fraud.

LLMs display cognitive shortfalls - BIS

/regulation

LLMs display cognitive shortfalls - BIS

When posed with a logical puzzle that demands reasoning about the knowledge of others and about counterfactuals, large language models (LLMs) display a "distinctive and revealing pattern of failure," according to a bulletin from the Bank for International Settlements.

Finextra's top research reports of 2023

/payments

Finextra's top research reports of 2023

With 2023 drawing to a close, we take a look back at our most downloaded whitepapers, sentiment papers and surveys over the course of the past year. These reports are Finextra-led and cobranded, based on editorially balanced, independent, referenced desk-based and online research.

Finextra's top impact study reports of 2023

/payments

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.

Nth Exception launches AI tool for ISO 20022 adoption

/payments

Nth Exception launches AI tool for ISO 20022 adoption

London-based fintech Nth Exception has launched Nucleus, a machine learning data fabric to ease financial institutions into ISO 20022 adoption.

BofE to review AI risk to financial stability

/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.

73% of FS execs expect GenAI to take their jobs

/predictions

73% of FS execs expect GenAI to take their jobs

Almost three-quarters (73%) of executives working in financial services expect to eventually be replaced by Generative AI (GAI), according to a recently released study.

FNA awarded University of Cambridge grant to develop market monitoring tool

/regulation

FNA awarded University of Cambridge grant to develop market monitoring tool

Network analytics and simulation firm FNA has been awarded $100,000 as part of the University of Cambridge’s SupTech Launchpad competition, to develop a working prototype of a tool for financial market monitoring via social media and web extraction.

Lloyds invests £2m in corporate banking platform Fennech

/payments

Lloyds invests £2m in corporate banking platform Fennech

UK high street bank Lloyds has invested £2 million in AI-based corporate banking platform for financial institutions and corporates, Fennech.

Google Cloud launches AI-powered AML tech

/cloud

Google Cloud launches AI-powered AML tech

Google Cloud has developed an AI-powered product designed to help global financial institutions more effectively and efficiently detect money laundering.

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