FinTech Futures: Top five stories of the week – 17 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Artificial Intelligence/AI
The irony of incumbent core banking vendors
Incumbent core banking vendors have become the very thing they have been selling banks to replace.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
Bambu taps WealthKernel to launch “world’s first” SaaS robo-advisor
Bambu says its solution has been designed for financial institutions that cater to mass retail investors.
Japan’s MUFG pens multi-year partnership with AWS for digital transformation
By moving to the cloud, AWS claims that MUFG has been able to reduce IT operational costs by 20%.
From VRPs to AI: Innovation takes centre stage at day two of Fintech Talents
Payments innovation and the regulation of AI were hot topics of discussion at this year’s Fintech Talents Festival.
Customers Bank taps Funding Circle for Lending-as-a-Service platform
The bank says the platform will enable it to deliver “affordable term loans” directly to its SMB customers.
Saudi Awwal Bank taps Mastercard to fight financial crime with AI
The bank is adopting Mastercard’s transaction risk management technology to tackle payment fraud.
Video: Atomic at Money20/20 USA 2023 – Powering financial connectivity
Atomic’s Andrea Martone discusses how the firm is helping businesses align with the CFPB’s vision for open banking.
Regulators should greenlight more M&A among banks and fintechs to avoid bankruptcies
Consolidation and M&As can create an environment where dynamic regional banking ecosystems can flourish.
Unlocking Alpha: how AI is helping investors fine-tune their strategies
FinTech Futures speaks with the founders of 3AI to discuss how AI technology can transform investing strategies.
Video: Socure at Money20/20 USA 2023 – Fighting first-party fraud
We chat with Socure’s Johnny Ayers about the launch of the company’s Sigma Identity Fraud solution.
ICYMI fintech funding round-up: EduFi, Performativ, Due and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Video: Incedo at Money20/20 USA 2023 – Winning in the digital age
We chat with Incedo CEO Nitin Seth about what banks need to do to make the most of their digital investments.
Video: LiveBank at Money20/20 USA 2023 – Bridging the gap between physical and digital banking
We chat with LiveBank about how the firm helps banks provide a branch-like experience through digital channels.
Improving safety in AI
Having regulators test AI before release will ensure a much better understanding of its capabilities.
Q&A: Nauman Anees, co-founder and CEO of ThinkMarkets, on proprietary technology, expansion and growth vision
The mindset of today’s investors and the importance of maintaining a competitive edge.
Private investment management platform Arch raises $20m Series A
The latest cash injection brings Arch’s total funding to date to over $25 million.
What the FinTech? | S.4 Episode 20 | SPAC to the future
In this episode of the podcast, we’re joined by Betsy and Daniel Cohen, co-founders of Cohen Circle.
AI fintech start-up Black Ore launches from stealth with $60m funding
Founded in 2022 and based in Texas, Black Ore offers an AI automation platform for financial services businesses.
Two weeks until FinTech Futures’ AI Insights networking morning
Join our exclusive panel discussion and networking event, AI Insights, 22 November.
Video: Mastercard at Money20/20 USA 2023 – Fintech partnerships and sustainable growth models
We chat with Mastercard’s Tim Montgomery and Hania Faridi about the company’s approach to fintech partnerships.
Video: SAS at Money20/20 USA 2023 – The growth of generative AI in financial services
We chat with Diana Rothfuss of SAS and Theodora Lau about the applications of generative AI in finance.
US fintech Bond.AI snaps up Elastech to bolster cloud and data offerings
As part of the acquisition, Elastech CEO Scott Llewelyn will join Bond.AI to lead its professional services division.
German insurtech Wefox secures $55m debt financing from Deutsche Bank and UniCredit
Wefox plans to boost its global expansion efforts, with a focus on mergers and acquisitions.
NatWest engages IBM to revamp chatbot service with generative AI
Cora+ leverages generative AI to draw on multiple different information sources to answer customer queries.
Video: iGTB at Sibos 2023 – How banks can keep up with shifting customer demands
We chat with iGTB CEO Manish Maakan about how banks can adapt their strategies to meet evolving customer needs.
Webinar | 7 December 2023: Beyond the hype – exploring the real-world use cases for AI in financial services
Join us for what’s sure to be a fascinating deep dive into the world of AI in financial services.
UK Finance calls on government to form new quantum computing taskforce
The taskforce would seek to explore the “multibillion-pound opportunities” of a quantum-enabled economy.
Demystify Podcast: Demystifying conversational interfaces with Zor Gorelov, founder of Kasisto
Zor Gorelov, founder of Kasisto, shares his visionary perspective on the emergence of artificial financial intelligence (AFI).
Spain’s Twinco Capital secures €50m debt facility from BBVA Spark
The facility will be used to support the company’s portfolio growth and geographical expansion plans.
ICYMI fintech funding round-up: UnaFinancial, Multifi, Triple-A and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Arteria AI bags $30m to help financial institutions extract data from documentation
The Series B round was led by GGV Capital and takes the start-up’s total funding to date to $50 million.
Blackbullion taps Bud to streamline higher education student finance applications
Blackbullion will deploy Bud’s Assess solution and its open banking and transactional AI tech.
US fintech start-up Aleph emerges from stealth with $16.7m funding
The round was led by Bain Capital Ventures, with participation from existing backers, angel investors and customers.
Video: Bank of America at Sibos 2023 – The evolution of transaction banking
At Sibos 2023, we sat down with Chris Jameson of Bank of America to discuss the shifting transaction banking landscape.
JP Morgan and Mastercard’s new Pay-by-Bank solution goes live in the US
Verizon has revealed it will pilot the solution with its US customers “in the coming months”.
Turkish fintech Figopara taps Provenir to automate risk decisioning
The partnership comes as Figopara gears up for a “significant” international expansion push.
Cartoon: Parallel processing
A new cartoon illustrating the different use cases for some of the more popular AI chatbots.
ICYMI fintech funding round-up: Statement, iink, Finzly and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
