Latest Machine learning News: Finextra Research

Natural language processing is the next step to automation

78% of institutional investors agree that technology has made financial markets ‘better and more efficient.’ This figure is staggering when compared to the 20% of participants who feel that technology has ‘made financial markets overly complicated.’ But where does the cloud fit in?

13 January 2020

News/Machine learning

BMO joins $6m FlexPay funding round

FlexPay, a Montreal-based startup using AI to help merchants recover lost revenues from declined transactions, has raised $6 million in a funding round led by Impression Ventures and joined by BMO Capital Partners.

09 December 2019

News/retail

Deloitte predicts 'Japanification' of banking in 2020s

Leaders of banks need to look beyond banking in anticipation of disruption to their industry in the next decade, according to Deloitte.

05 December 2019

News/Machine learning

Swift Operations Forum Europe 2019, Amsterdam - Day 2 report

With the accelerating pace of transformation in financial services, day two of SOFE 2019 explored the direction of travel financial institutions should embark on in order to thrive in this new world.

29 November 2019

News/Machine learning

Co-operative Bank opens Loans Marketplace

The UK's Co-operative Bank has launched a loans marketplace, enabling users to sift through a panel of alternative lenders to find the best deals.

27 November 2019

News/sustainable

Standardised data reporting is the lynchpin for future of sustainable finance

In a recent survey by State Street Global Advisors, 52% of European investors cited regulation as the key driver toward ESG adoption. Yet, despite attempts to introduce regulatory requirements, a lack of standardisation in reporting obligations is proving a significant challenge towards achieving meaningful progress.

26 November 2019

News/Machine learning

The CIO’s blueprint for streamlining digital business agreements

80% of financial institutions will become irrelevant by 2030 due to their inability to compete with digitally-savvy rivals, according to research by Gartner.

13 November 2019

News/Machine learning

Gendered credit scoring increases women's chance of credit acceptance

Following news of the probe into Apple Card’s credit worthiness algorithm after sexism claims, University of Edinburgh Business School reveals that including gender in credit scoring models improves women’s chances of being granted credit.

12 November 2019

News/retail

HSBC claims hyper-personalised banking will be driven by digital ID

A new report from HSBC reveals that the traditional products-based approach in retail banking will be replaced by hyper-personalised services, where customer personal data will be collated to form a central digital ID.

12 November 2019

News/regulation

ING joins $19.3m funding round for regtech Ascent

Dutch banking giant ING has joined a $19.3 million Series B funding round for American AI-based regtech Ascent.

08 November 2019

News/startups

ID Finance raises £4.4m on Crowdcube

ID Finance, a digital lending platform that uses smart credit scoring technology to target the underbanked in Spain and Latin America, has raised a record £4.4 million on Crowdcube.

05 November 2019

News/ai

Money 20/20: AI is now a must-have in financial services

Today, artificial intelligence is so much more than an experiment for financial services institutions: it is a true competitive differentiator that can help banks deliver hyper-personalised customer experience, improve decision-making and boost operational efficiency.

01 November 2019

News/ai

AI will not be job killer - IBM research

Contrary to the conventional wisdom, new technologies such as AI will actually kill off few jobs, according to research from the MIT-IBM Watson AI Lab.

01 November 2019

News/regulation

Regtech zooms in on the severe penalties of 6AMLD

The European Union’s Sixth Anti-Money Laundering Directive (6AMLD) is due to take effect on 3rd December 2020 and brings with it a suite of substantial penalties for non-compliance. Here’s what you need to be aware of in the run up to the fast-approaching deadline.

25 October 2019

News/payments

AI will drive productivity in the payments industry

The payments industry is increasingly being exposed to the technological transformation that is occurring outside of the financial services sector. But is the space ready to drive productivity in payments with artificial intelligence?

22 October 2019

News/Machine learning

Machine learning advancing in financial sector - Bank of England

Machine learning tools are now in use at two-thirds of UK financial institutions, with the technology entering a new phase of maturity and more advanced stages of deployment, according to a survey conducted by the Bank of England.

17 October 2019

News/cloud

Old Mutual enlists AWS for cloud migration

African financial services giant Old Mutual is moving to the cloud, with Amazon Web Services (AWS) as its preferred provider.

16 October 2019

News/sustainable

Sberbank backs hackathon using AI to tackle wildfires

Sberbank is teaming up with the Russian Ministry of Emergency Situations to host a hackathon where contestants will use machine learning and AI in the fight against wildfires.

16 October 2019

News/Machine learning

Where do incumbents look for game-changing innovation?

How can the established players in financial services deliver meaningful game-changing innovation? What are the challenges in building this from scratch and does the key lie in partnerships with fintechs and start-ups?

14 October 2019

News/ai

Can AI detangle the spaghetti of banking systems?

At Microsoft’s Future Decoded event in London, AI was the principal topic for discussion, with financial services no exception.

03 October 2019