Banks say they reject racism and explain how employees are required to complete annual diversity training programs; there are endless...
BlackRock founded AI Labs last year to begin researching artificial intelligence for potential product offerings; the team is now comprised...
BlackRock's new investment management executive Mark Wiseman has reorganized the business with a greater focus on automated investing for its active funds; the changes will focus on the actively-managed equities business and include pricing changes and increased use of computer models for active investment funds; the firm's passive investments have helped it grow assets under management to $5.1 trillion however its active fund performance has lagged and in 2016 reported $275.1 billion invested, a decrease from $317.3 billion three years prior. Source
BlackRock is leading a $50mn investment round into microinvesting app Acorns to help build out their investment options; BlackRock joins...
BlackRock, the world’s largest investment group, is setting up an AI research lab; the move is part of a wider industry trend by asset managers to use AI and machine learning for investments; the lab is meant to help their current teams and clients better understand how best to utilize the new technologies; “Big data offers a world of possibilities for generating alpha [market beating returns] but traditional techniques are not good enough to analyse the huge volumes of information involved,” said David Wright, head of product strategy in Europe for BlackRock’s scientific active equity division, to the FT. Source.
Microinvesting fintech app Blast has come up with a new way for individuals to save money, video games; unlike past attempts where a bank has created a savings game, Blast’s idea is to use existing games like League of Legends or Counter-Strike: Global Offensive where players are rewarded for tasks completed; this new style of gamification is not trying to change the user but instead it looks to use the framework of a customers existing life; they are currently starting with a savings account but are seeking partnerships with financial institutions. Source.
Blend is on a mission to expand into more banks and credit unions with their new digital account opening product;...
Mortgage fintech Blend is on a roll; Blend’s customer base now accounts for more than 25% of the $2.1 trillion...
Blockchain capital is a venture firm focused on bitcoin, blockchain and other crypto projects; according to SEC filings they are raising $150 million between their two funds Blockchain Capital IV and Blockchain Capital Parallel Fund IV; the funds have raised $60 million and $25 million respectively to date; the funds are similar when it comes to deploying capital, but in the parallel fund investors will contribute cryptocurrencies to invest. Source
Looking to begin testing blockchain technology for various use cases later this year, the New York City Economic Development Corporation...