In an op-ed in City A.M. the Lord Mayor of London, William Russell, argues that the fintech revolution began in...
CNBC profiles three companies emerging in the banking industry with solutions built from machine learning technology; Digit has created a solution that integrates with a user's bank account to automate savings based on account balances and spending patterns; Zest Finance is offering credit scoring technology based on AI algorithms using alternative credit data; Adyen is also using machine learning for fraud prevention; overall machine learning solutions are evolving rapidly and speculators believe they will revolutionize the workforce; Goldman Sachs says machine learning and AI will enable $34 billion to $43 billion in annual cost savings and new revenue opportunities for the financial sector by 2025; it's also expected that AI and machine learning will begin to replace jobs that can be easily automated while also creating greater opportunities for software developers and data scientists. Source
Digital banking has taken off since the pandemic set in and Marcus by Goldman Sachs is looking to capitalize on...
Happy New Year everyone. As I do every year at this time I make a few predictions for the year...
Mercantile Bank of Michigan has struck a partnership with Abe AI to build a chatbot; MercMoney is an AI based...
Simility, a machine learning adaptive fraud prevention product, raised $17.5mn from PayPal, The Valley Fund and Trinity Ventures; the company helps to prevent fraud and abuse in real time using machine learning and big data analytics; Rahul Pangam, Co-Founder and CEO of Simility, tells Crowdfund Insider, “Digital disruption in the financial and commerce sectors has resulted in the need for a fraud and risk management solution that goes beyond legacy.”; the company plans to build out data science teams and continue expanding globally. Source.
Canadian based insurance company Manulife launched a digital bank earlier this month and at the heart of that offering is...
Happy New Year everyone. As I do every year at this time I make a few predictions for the year...
MasterCard is launching customizable bots for merchants and banks; they have partnered with Kasisto, the company that created KAI Banking, a conversational AI platform; consumers will be able to manage their money inside Facebook Messenger, asking questions about their accounts, purchase history, spending levels, etc.; transactions will also be able to take place on Messenger with MasterCard’s Masterpass, a digital payment service. Source
Morgan Stanley knows how important data is to the core of their business and in 2018 they created the data...