CaixaBank’s mobile-only bank, imaginBank, has unveiled a chatbot to help millennials find offers and promotions most relevant to them, based on their preferences or location. Powered by artificial intelligence (AI), the chatbot will be available to users via Facebook Messenger on imaginBank’s Facebook page. Launched in January 2016, imaginBank is a 100% digital and mobile […]
There are many reasons to be excited about insurtech in 2017!
Swiss online bank Swissquote has developed a virtual reality (VR) trading application that enables users make trades with a glance. The VR headset creates a 360° trading wall for users to monitor the markets.
The rise of the chat bots continues as Cleo, a virtual money assistant described by its creators as the “Siri of personal finance,” has launched on Facebook Messenger for users in the U.K. Developed by the London-based fintech startup of the same name, Cleo is an artificial-intelligence-powered chat bot the companies say will help users manage their finances.
BNP Paribas Securities Services has acquired a minority stake in an Fortia Financial Solutions. This deal helps Fortia, a start-up that provides compliance software to the financial services industry, cement the relationship it formed with the bank during the inaugural session of the fintech accelerator by L’Atelier BNP Paribas.
Fintech zeitgeist! Welcome to the third in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of guest writer Soumik Roy. Last week, […]
While many traditional tech giants have been struggling to come to terms with the connected economy, SAP’s latest earnings indicate it is adapting well to the world of cloud computing.
Citi’s global perspectives and solutions team has issued a 100-page report on digital disruption in the fintech industry. It has analysed venture capital (VC) investments in the fintech industry between 2010 and 2016, as well as the emerging technologies across the globe.
Economists worry that artificial intelligence (AI) could make many workers obsolete. Now, AI researchers could be putting their own jobs at risk. Researchers at Google and elsewhere are writing AI software that’s better than humans at writing AI software, reports Light Reading (Banking Technology‘s sister publication). Researchers at the Google Brain artificial intelligence research group […]
Fintech zeitgeist! Welcome to the second in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. Anything goes, so here goes. Last week I was in Hong Kong, but […]
Artificial intelligence (AI) on its own isn’t enough to compete – companies need industry-specific solutions to business problems. So said Martin Schroeter, IBM’s senior vice-president and chief financial officer, on the company’s quarterly earnings call.
POSB, one of Singapore’s oldest banks and part of the DBS Banking Group, has launched an online virtual assistant. It is powered by the KAI conversational bot/AI platform from a New York-based fintech start-up, Kasisto.
Philippines-based Ayannah, a provider of financial services to migrants and the unbanked, was the overall start-up winner in the Next Money Fintech Finals 2017 in Hong Kong.
HSBC has appointed a technology advisory board of top-level specialists from around the globe as the banking giant is keen to capitalise on opportunities in artificial intelligence (AI), biometrics, blockchain and data science, combat cybercrime and leverage its global infrastructure.
They said it. We read it. We edited. A round-up of the latest funding efforts in the fintech and payments space. Featuring Kasisto, BillGO, Gumption Labs and Fraugster.
Munnypot, a new robo-advice and investment service in the UK, has fully launched with tech support from a number of partners.
In another example of glacial bureaucracy, a committee from the European Parliament has written a report which recommends a meeting about robots and artificial intelligence (AI).
LinkedIn founder Reid Hoffman is one of a host of investors bank-rolling a new initiative to develop ethics and governance standards for artificial intelligence (AI), reports Telecoms.com. The $27 million Ethics and Governance of Artificial Intelligence Fund, which also features Omidyar Network as a founder, will be built around not only engineers and corporations, but […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
India-based HDFC Bank is about to introduce its first “humanoid” branch assistant – Ira. The human-sized robot was built together with artificial intelligence (AI) company Asimov Robotics.
Artificial intelligence (AI) interfaces and chatbots could be revolutionary for financial institutions – but only if they strike the right balance between human and machine interaction.
ICICI Bank goes for Twitter, while HDFC Bank banks on Facebook Messenger.
Mobile banking app Varo Money is brining to market a chatbot and “money coach”, Val. Val is powered by Kasisto’s KAI Banking bot and “delivers insights into spending, savings, borrowing and helps people set goals as well as offer updates and encouragement about their progress”.
US-based Charles Schwab has launched its Schwab Intelligent Advisory, a hybrid advisory service that combines people and a robo-advisor. Schwab Intelligent Advisory will provide investors with a financial plan, guidance from “certified financial planner professionals”, and a fully automated portfolio using algorithm driven technology. The service is expected to launch in the first half of […]
Don’t rage against the machine, just embrace its potential and look at the real world applications. The world of machine learning (ML) came under the spotlight on day two of Mobey Day in the great city of Toronto. At yesterday’s (8 December) sessions at the Four Seasons Hotel, about 300 delegates enjoyed panels and presentations […]
Fintech funding stories can be fun if they are brief. Featuring MoneyLion, SETL and Finicity.
Let’s put the fun in funding by keeping it mercifully brief. Money seekers are PayKey, Euklid and Flender.
SigFig, a San Francisco-based fintech start-up, is partnering with Wells Fargo to provide the bank’s clients with its robo-advisory tech and wealth management tools. A pilot version will be rolled out in H1 2017.
City Union Bank (CUB) has become the first bank in India to introduce a robot to deal with customer queries. Called Lakshmi, the robot is based on the IBM Watson artificial intelligence (AI) engine.
Parth Desai, CEO and founder of Pelican, discusses why artificial intelligence (AI) is already fact not a fantasy, but cautions that we need to be realistic about what can really be achieved on the journey to true AI adoption in transaction banking and payments.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Algebra, Asia’s “first Shariah-compliant robo-advisor”, will be launched this December by Malaysia-based Farringdon Group Private Wealth Managers. It will be open to investors from across the globe, with a minimum investment of $200 per month. Funds will follow basic Islamic principles. For example, no stocks may derive income from gambling, alcohol, tobacco, pork products, adult […]
Bank of America has unveiled its new artificial intelligence (AI) chatbot to help customers make decisions on their finances. Called Erica, a nod to the name America, it will be available inside the bank’s mobile app in 2017. Customers can do the usual AI stuff – chat via text or voice – and it’s all […]
Want to save some time but be in the know of the latest funding initiatives in the fintech space? Then read on.
Tieto says it is the first Nordic company to appoint artificial intelligence (AI) to the leadership team of a new data-driven businesses unit. The AI, called Alicia T, will help the management team to become “truly data-driven”; assist with unspecified “innovative ways”; and possess the capacity to cast votes. Ari Järvelä, head of data-driven businesses […]
Fintech funding without the tub-thumping. A realistic and brief round-up of key events. ComplyAdvantage, which uses artificial intelligence (AI) and machine learning to help firms manage compliance, has revealed an $8.2 million Series A funding round led by Balderton Capital. The funding will allow the regtech firm to do the usual stuff – growth and […]
SEB will be the first bank to use IPsoft’s cognitive technology for customer-facing operations in the Swedish language. The artificial intelligence (AI) solution, known as Amelia, will be integrated into the front-office set-up at SEB by the end of this year.
Pokémon Go has taken the globe by storm, capturing the hearts and minds of adults and children alike in their endeavours to “catch ‘em all” in the latest version of the popular computer game, which builds cutting edge augmented reality (AR) technology into its original gameplay. What can banks learn from it?
There has been a huge amount of hype at this year’s Sibos about financial technology and its role in financial services. Devie Mohan* looks at the technologies that will help financial institutions cross the next frontier of innovation. The world of financial technology has seen a clear and significant shift in the past year – […]
Artificial intelligence (AI) isn’t new but the rise of mobile and cloud computing, combined with big data and cheap computing power, is driving a resurgence. Convergent technologies mean AI is finding new uses in financial services.
