via FinTech Futures
SmartSearch says it is currently the only organisation in the UK with the ability to verify individuals and companies in the UK and internationally, all in a single platform via a browser or API, with full sanction, politically exposed persons (PEP) and adverse media screening and then ongoing monitoring. (more…)
Almost three in four banks in Asia Pacific anticipate that fraud in their country will increase in 2019, according to a recent poll by FICO.
Two of the main areas of concern are card-not-present fraud and application fraud. Card-not-present payments are concerns are fueled largely by the fact that over 50% global online retail sales came from Asia Pacific in 2018.
Dan McConaghy, President of FICO in Asia Pacific shared that it is precisely due to such reasons that banks need to use AI and machine learning to combat the increased fraud risk. (more…)
via FinTech Futures
Envel, a challenger bank created around the use of artificial intelligence (AI) targeting millennials and Gen Zs, is launching a “Driverless Banking” framework that automates the steering of customer finances in real-time to stabilise spending.
The bank’s autonomous framework couples with Banking-as-a-Service (BaaS) solution Cambr, while using behavioural insights to centralise money management activities spread across multiple apps, platforms or services. (more…)
via MarkTechPost
Artificial Intelligence is considered the next big thing when it comes to tech products and trends that will lead humanity to the next global revolution. But, apart from the ability of Facebook to determine the face of your friends in an uploaded image and incorporation of AI to suggest search engine results on Google, there is still to be seen a real-life application of Artificial Intelligence that can benefit individuals and businesses alike and we think there is no better contender for this, except for Identity Verification services. They cannot only deter online frauds and scams, but they can play a pivotal role in making payment frauds a thing of the past if used with appropriate intelligence. (more…)
via Finovate blog
A new strategic partnership between FICO and Equifax will help financial institutions better manage risk, marketing, and fraud. The two companies have introduced the Data Decisions Cloud: an end-to-end data and analytics suite that integrates Equifax Ignite, a data and analytics management solution, with FICO Cloud applications and Decision Management Suite, FICO’s digital decisioning platform. (more…)
via TechCrunch
Security breaches, where malicious hackers obtain snippets of information that then get used to impersonate individuals in order to gain access to individuals’ and businesses’ sensitive financial and other private information, have become par for the course in the world of digital services. More than 2.7 billion records were breached in a single incident this year in the US, and overall the damage from incidents like these potentially runs into the trillions of dollars globally.
Today, a startup called Onfido, which uses AI techniques combined with human verifiers to efficiently verify people are who they say they are when using digital services — is today announcing $50 million in funding to help address that ongoing — and growing — problem. (more…)
By Adam Geitgey for his Medium Blog
Update: This article is part of a series. Check out the full series: Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7 and Part 8!
You can also read this article in 普通话, Русский, 한국어, Português, Tiếng Việtor Italiano.
Have you noticed that Facebook has developed an uncanny ability to recognize your friends in your photographs? In the old days, Facebook used to make you to tag your friends in photos by clicking on them and typing in their name. Now as soon as you upload a photo, Facebook tags everyone for you like magic:
By Motif Investing
Motif launches its newest thematic portfolio focused on companies at the forefront of Artificial Intelligence (more…)
The Monetary Authority of Singapore (MAS) has announced that it is working with key financial industry stakeholders to develop a guide to promote the responsible and ethical use of artificial intelligence (AI) and data analytics by financial institutions. (more…)
Yolt, the smart thinking money app owned by ING, has integrated with the UK’s biggest challenger bank, Monzo. (more…)
British money management chatbot Plum has launched an investment tool that lets users choose where their money goes. (more…)
By OCBC,
With an initial investment of $10M over three years, OCBC Bank adopts an ‘AI-first’ strategy in developing digital capabilities (more…)
The speed of technological change is exponential. What was yesterday’s hot ticket quickly becomes tomorrow’s old news. We are living in the midst of a huge surge of interest and research in Artificial Intelligence (AI). It seems like every week there is a new breakthrough in the field and a new record is set in some task previously done by humans. If you don’t already know what IoT, AI, VR, AR, and bots mean, you better get up to speed immediately because these technologies are changing the way data is created, collected, interpreted, and communicated.
Nearby Technologies has partnered with YES BANK, India’s 5th largest private sector bank and worked closely with National Payments Corporation of India (NPCI) to launch a card less and PIN-less Aadhaar ATM service. (more…)
By Jon Russel for TechCrunch
Horizons Ventures, the VC firm founded by Hong Kong’s richest man Li Ka-Shing, has made a rare early-stage investment after it backed AI startup Fano Labs. (more…)
By Iliya Valchanov, Co-founder of 365datascience.com. Originally published on Quora.
According to Glassdoor, in 2016 data science was the highest paid field to get into. (more…)
Bank of America Merrill Lynch has launched a digital tool that delivers information and education to commercial card clients. (more…)
By Penny Crossman for American Banker
Fidelity Investments is joining the ranks of financial firms sharing customer account data with others through an application programming interface. (more…)
Standard Chartered is to launch an AI-powered chatbot to provide clients with natural language assistance in managing money, making payments and analysing their spending. (more…)
ANZ has acquired a startup that uses data analytics and crowdsourced market chatter to provide prospective home buyers with accurate predictions of property price momentum in Australia’s fervent real estate market.
By ABM Amro
From the local florist stall to the large metalworking factory in an industrial park – starting today, all of ABN AMRO’s business clients can go online to see what they can do to make their commercial premises more sustainable. (more…)
By Envestnet / Yodlee
Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, is demonstrating its vision of the Artificial Intelligence (AI) FinCheck app at FinovateFall in New York City. (more…)
Nordea is to introduce artificial intelligence technology to analyse customer text queries and forward the correspondence to the right department. (more…)
by Ryan Lawler for Techcrunch
It turns out that you can make a lot of money by giving stuff away for free. That’s the lesson from Credit Karma, which today is announcing that it’s running its business profitably after earning $500 million in revenues last year. (more…)
By Reuters,
Japan’s SoftBank Group Corp said on Friday that a unit of the company will buy two firms that build walking robots from Alphabet Inc , which would add to the group’s growing artificial intelligence portfolio. (more…)
By Matthew Kirk for O’Reilly Blog
We truly live in an exceptional point in history. The ability to ask your TV to queue up the next episode of Game of Thrones, or to have it “learn” what you like to watch, and then suggest new options, is staggering. For years, companies have latched on to the trend of utilizing machine learning algorithms for great effect, whether it’s trading on Wall Street or recognizing cat images. (more…)
By Coupa
Coupa Software, a leader in cloud-based spend management, today announced that it has acquired substantially all of the assets of Riskopy, Inc. (more…)
