Segpay

FEBRUARY 21, 2024

5 minute read In recent years, generative artificial intelligence (generative AI) has emerged as a powerful force reshaping various industries. What is Generative AI? Generative AI is an advanced artificial intelligence technology that creates text and images.

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Fintech News

APRIL 28, 2024

The banking industry is shifting towards innovation, collaboration and customer-centricity, driven by the adoption of technologies including cloud computing, data analytics, artificial intelligence and machine learning (AI/ML), changing customer preferences, and a rapidly evolving regulatory landscape, a new report by Amazon Web Services (AWS) says.

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The Fintech Times

AUGUST 14, 2024

Artificial intelligence (AI) has taken the financial world by storm in the last few years and has quickly found its way into every business and sub-sector there is. Perhaps unsurprisingly, regulations can struggle to keep up – leading to fresh calls for enhanced regulatory clarity regarding AI.

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The Fintech Times

SEPTEMBER 3, 2024

Business analytics enterprise, IBM , has unveiled new technologies designed to significantly scale processing capacity across IBM Z mainframe systems helping accelerate the use of traditional AI models and Large Language Models (LLMs).

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Fintech News

SEPTEMBER 29, 2024

Payment giant Visa is set to acquire Featurespace, a company specialising in artificial intelligence (AI) technology for real-time payments fraud protection. Founded in 2008 at Cambridge University, Featurespace has developed AI-driven algorithms that can detect complex fraud patterns in transaction data.

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Fintech News

SEPTEMBER 30, 2024

The ENGAGE Asia 2024 event focused on the evolving role of AI in banking and customer-centric innovations aimed at driving return on equity (ROE) and advancing the next phase of Banking 4.0. The event highlighted Backbase’s growing presence in Asia, marked by the launch of a global AI Centre of Excellence in Ho Chi Minh City.

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Fintech News

DECEMBER 11, 2023

Swift has announced the launch of its first-ever “The Innovation Challenges” that invites participants to create AI-based solutions aimed at improving the efficiency and security of cross-border transactions. Registration is now open until 15 January 2024. The competition is divided into two primary areas.

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Fintech News

SEPTEMBER 24, 2024

Indonesia’s GoTo Group has unveiled Dira, an AI-powered voice assistant integrated into the GoPay app. Dira understands and responds to commands in Bahasa Indonesia, leveraging Google Cloud’s generative AI technologies, including Vertex AI, speech-to-text AI, and the Gemini 1.5 Flash large language model.

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The Fintech Times

AUGUST 14, 2024

Al Fardan Exchange, a financial services provider in the UAE, has partnered with the Dubai AI & Web3 Festival 2024 reflecting its commitment to advancing AI integration within the financial sector as well as supporting the UAE’s vision for a digitally advanced economy.

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Fintech Finance

OCTOBER 16, 2024

Swift today announced that it is rolling out new AI-enhanced fraud detection to help the global payments industry step up its defence as bad actors grow increasingly sophisticated. “Collaboration across the banking sector is crucial to enhancing fraud detection, and by sharing data and leveraging AI, we empower ourselves to stay ahead.

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The Fintech Times

JUNE 12, 2024

As Dubai looks to cement its position as a global leader in the world of finance and AI, its new AI Campus cluster has already been inaugurated. Announced in 2023, the Dubai AI Campus is the largest dedicated cluster of AI and advanced tech in the MENA region.

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Fintech News

JULY 31, 2024

Digital banking software provider Backbase has launched its first global Center of Excellence (COE) for Artificial Intelligence (AI) in Ho Chi Minh City, Vietnam. The COE, led by Backbase’s Head of AI Chris Shayan, will focus on developing AI solutions to enhance customer engagement and business outcomes in the banking sector.

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FloQast

SEPTEMBER 10, 2024

From the highest levels to the deepest valleys of hallucination , Gen AI’s potential, and its drawbacks, and, most relevantly here: How we see it impacting the accounting profession — now, and down the road. That’s why the shortage has made it imperative for us to harness AI’s potential. Capitalism marches on.

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Fintech News

JULY 18, 2024

The Monetary Authority of Singapore (MAS) announced an additional commitment of S$100 million under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0) to support the development of quantum and AI technologies within the financial sector. to support the progressive adoption of AI technologies.

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Fintech Finance

AUGUST 14, 2024

Paddle , the payments infrastructure provider, has today opened applications for its third AI Launchpad, offering 75 ambitious AI founders the chance to participate in a 6-week program to help them build, launch and scale their AI-powered business ideas.

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The Fintech Times

JULY 12, 2024

The UAE launched its ‘Strategy for Artificial Intelligence’ (AI) in 2017 to integrate the use of the technology at all levels within the country. Seven years later, organisations continue to align themselves with the strategy, especially as AI’s popularity reaches new heights. ” J.K.

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Fintech News

JUNE 24, 2024

Bank Negara Indonesia (BNI), an Indonesian state-owned commercial bank, has partnered with Cloudera to leverage generative artificial intelligence (Gen AI) for advancing its banking services. This move positions BNI among the first global enterprises to trial Cloudera’s AI Inference service, powered by NVIDIA NIM.

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Open Banking Excellence

JANUARY 18, 2024

As we enter an exciting new year, businesses worldwide are ratcheting up artificial intelligence (AI) investment. Our latest assesses the AI maturity of 50 of the world’s largest banks to determine how each is performing against four key capability areas – Talent, Innovation, Leadership, and Transparency.

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Fintech Finance

OCTOBER 15, 2024

A pioneer in open banking, Neonomics unveils an innovative new product suite launched as Nello, with the goal to bring open banking to the next level through AI-driven solutions and seamless payments. Nello AI will be available as a white-label integration for financial institutions and others to easily integrate.

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The Fintech Times

OCTOBER 14, 2024

Nurturing local talent and ensuring the Middle East and North Africa (MENA) region continues to be a hub for innovation, Bahrain FinTech Bay (BFB), the fintech ecosystem builder, has launched its MENA Innovation Academy (MENA-IA). This offering is just one of the many programmes planned for the year.

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Fintech Finance

SEPTEMBER 10, 2024

New research from RedCompass Labs , a world leader in payments modernization, has revealed that over half (54%) of banks are planning to leverage generative artificial intelligence (AI) for the shift to instant payments and other payments modernization projects, while four in ten (42%) are actively considering the possibility.

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The Fintech Times

FEBRUARY 2, 2024

It suggests that the UK government will need to engage with the nuances of open-source technology and open innovation and listen to its community. It suggests that the UK government will need to engage with the nuances of open-source technology and open innovation and listen to its community. Open models are innovation enablers.

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Fintech News

JULY 17, 2024

DBS is set to deploy an Gen AI-powered virtual assistant, named “CSO Assistant,” to its 500 Customer Service Officers (CSOs) in Singapore by the end of 2024. The Gen AI-powered CSO Assistant aims to improve the efficiency and effectiveness of handling over 250,000 consumer and corporate customer queries each month.

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Seon

JUNE 7, 2024

With its mimetic capabilities, AI-generated fraud is harder to detect and occurs at unprecedented volumes and velocities. How AI-Generated Fraud Works: Understanding the Threats AI-generated fraud represents a significant evolution in malicious activities, leaning on advanced technologies to create and execute sophisticated schemes.

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AI Innovation Fraud Prevention Fraud Detection 52

Fintech News

AUGUST 14, 2024

Prudential has announced an expanded strategic partnership with Google Cloud to introduce AI-driven products and applications aimed at enhancing experiences for customers, agents, and employees. The lab will provide Prudential’s 15,000 employees with tools and a structured environment to develop scalable AI products.

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Finovate

MAY 13, 2024

AI integration specialist AI Squared acquired open-source Reverse ETL (rETL) company, Multiwoven. The acquisition follows AI Squared’s $13.8 AI Squared made its Finovate debut at FinovateSpring 2023. AI integration platform AI Squared has acquired open-source Reverse ETL (rETL) company Multiwoven.

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Open Banking Excellence

SEPTEMBER 25, 2024

This pivotal event explores how cutting-edge technologies—such as AI, biometrics, and open banking—are reshaping the financial landscape. As banks adapt to these transformative forces, attendees gain insights into innovative strategies, regulatory compliance, and customer-centric approaches that will define the future of banking.

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The Fintech Times

OCTOBER 17, 2024

Swift , the secure financial messaging service provider, is rolling out new AI-enhanced fraud detection to help the global payments industry improve its defence as bad actors become increasingly sophisticated.

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Fraud Detection SWIFT AI Financial Crimes 52

Fintech News

JUNE 18, 2024

The advancement of generative artificial intelligence (gen AI) has opened up new commercial, social, and technological opportunities. The document, released in May 2024, outlines challenges associated with gen AI and shares a comprehensive gen AI risk framework to guide financial institutions in using the technology in a responsible manner.

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The Fintech Times

FEBRUARY 8, 2024

MedibleGo was created with the purpose of empowering micro, small and medium enterprises (MSMEs) through advanced AI technology. It has reached its next milestone in achieving this mission as it has been awarded a grant by Innovate UK , the UK’s innovation agency.

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Fintech Finance

JUNE 18, 2024

ZORRZ , the pioneering fintech driving financial inclusivity, has announced its strategic partnership with CLOWD9 , a B-Corp certified processing platform, to power its innovative BlueAccess Hybrid Credit Card platform. “We are delighted that ZORRZ has chosen to partner with CLOWD9! .

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Fintech News

JUNE 3, 2024

In the financial services industry, artificial intelligence (AI) is emerging as a transformative force, promising to reshape the way institutions operate, innovate, and compete on a global scale. However, challenges including AI talent scarcity and limited collaboration between financial institutions and AI fintech startups.

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The Fintech Times

FEBRUARY 7, 2024

The UK government has set over £100million aside for researching and developing Artificial Intelligence (AI) technology, and to support regulation in the space. The government has also pledged £10million to prepare and upskill regulators to address and make the most of the opportunities presented by AI.

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Governance Government AI Regulations 112

Fintech News

JUNE 12, 2024

Prudential plc has announced the appointment of Grace Park as its new Chief Data, Analytics & AI Officer, effective 7 June 2024. In her new role, Park will focus on enhancing Prudential ‘s use of data and artificial intelligence (AI) to drive growth and improve efficiencies.

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The Fintech Times

AUGUST 29, 2024

Dubai AI Campus , the dedicated cluster of AI companies at the DIFC Innovation Hub , home to the first fintech accelerator in the Middle East, is collaborating with Google Cloud, leveraging its expertise and resources to better support the local startup ecosystem.

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AI Innovation Agreements FinTech 69

Fintech News

JUNE 2, 2024

Swift, the global financial messaging cooperative, has announced two AI-driven experiments in collaboration with member banks to combat cross-border payments fraud which could potentially save the industry billions in fraud-related costs. This initiative could transform confidential data sharing and improve global fraud detection.

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The Fintech Times

AUGUST 9, 2024

Holon , an Australian-based Web3 infrastructure company, is partnering with the Dubai AI & Web3 Festival 2024, in a move to drive AI and property infrastructure integration within the Web3 and data storage sectors forward.

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