Artificial intelligence

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/wholesale

Iceberg Data Lab secures $10m in funding

Iceberg Data Lab (“IDL”), a leading provider of climate and biodiversity data solutions for financial institutions, today announces the first close of its Series A at US$10m (GBP £8m).

/retail

First Abu Dhabi Bank and Microsoft team up for AI innovation hub

First Abu Dhabi Bank (FAB) and Microsoft will collaborate in developing new AI-based banking capabilities under a strategic business partnership signed today, with the UAE’s largest bank and the global technology leader to cooperate on the launch of an ‘AI Innovation Hub’ for financial services.

US and UK sign agreement to regulate AI models

/regulation

US and UK sign agreement to regulate AI models

The governments of the UK and US have signed what they claim is the first international bilateral agreement to regulate the risks of artificial intelligence (AI) models.

/cloud

Informatica launches AI data management platform in KSA

Informatica, the enterprise cloud data management leader, today launched its AI-powered Intelligent Data Management Cloud™ (IDMC) in Saudi Arabia, a first for the Kingdom.

ValidMind raises $8.1m for AI risk management platform

/startups

ValidMind raises $8.1m for AI risk management platform

ValidMind, an AI and model risk management platform for financial services, has raised $8.1 million in seed funding.

/startups

Fintech Innovation Lab New York names 2024 class

Ten emerging technology companies have been selected to participate in the 2024 FinTech Innovation Lab New York, a 12-week program founded and run by Accenture and the Partnership Fund for New York City that helps early- and growth-stage fintechs accelerate product and business development through in-depth engagement with top financial services and venture capital executives.

Advancing payments: How can innovation drive business growth?

/payments

Advancing payments: How can innovation drive business growth?

At MPE 2024, Neil Caldwell, Senior Vice President, Merchant Sales & Acquiring, Visa Europe, explores the influence of Open Banking and regulatory changes such as PSD2 on the payments industry. We discuss how technologies like tokenization and biometric authentication safeguards merchants and drives growth; and look at methods for optimising payments and enhancing customer experience, alongside exciting developments in biometric payments, real-time platforms, and the integration of artificial intelligence and machine learning.

Banks told to expand risk management to cover AI

/security

Banks told to expand risk management to cover AI

A report from the US Treasury has called on banks to bolster their risk management frameworks in order to avoid being overwhelmed by AI-powered fraudsters and cybercriminals.

Visa launches AI-powered fraud prevention tools

/security

Visa launches AI-powered fraud prevention tools

Visa has added a trio of AI-powered risk and fraud prevention tools to its suite of products for businesses.

/wealth

Tifin acquires assets from WestCap

Tifin, a leading AI and innovation platform for wealth, announces an acquisition of assets for its Tifin AG platform to increase its capability to help wealth management firms drive organic growth through net new assets.

Asset managers embracing AI but need to go further - survey

/wealth

Asset managers embracing AI but need to go further - survey

While almost all asset managers are already using artificial intelligence (AI) in their investment process, only a handful are using the tech for more advanced tasks, according to a recently published study.

/crime

Form3 and Feedzai launch APP fraud prevention product

Form3, the cloud-native account-to-account platform, today launches a new, innovative authorised push payment fraud (APP fraud) prevention solution, powered by Feedzai, the market leader in anti-fraud and financial crime software.

FundGuard raises $100m

/cloud

FundGuard raises $100m

FundGuard, the cloud-native, AI-powered, multi-asset class investment accounting platform, has closed a $100 million Series C funding round led by Key1 Capital.

/markets

LTX integrates with TS Imagine TradeSmart Fixed Income

LTX, an AI-powered fixed income trading platform and subsidiary of global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), today announced a successful integration with TS Imagine’s Fixed Income Execution Management System, TradeSmart Fixed Income (TradeSmart).

Ireland’s fintech funding slumps

/predictions

Ireland’s fintech funding slumps

2023 saw a 94% decline in funding for Irish fintechs, according to recently published research.

/devops

Desjardins to integrate nCino automated spread solution

nCino, Inc. a pioneer in cloud banking for the global financial services industry, today announced that the largest cooperative financial group in North America, Desjardins Group, will implement nCino’s Automated Spreading Solution, powered by nCino IQ (nIQ), expanding their partnership with nCino to further realize the benefits of a single platform.

/payments

Cashfree Payments launches ‘RiskShield’

Cashfree Payments, India's leading payments and API banking company, announced the launch of ‘RiskShield’, India’s first real-time risk management solution for payment gateways. It aims at reducing fraudulent activities upto 40%. Built in-house, this solution will also help Indian businesses reduce chargebacks and disputes, thereby empowering them with tools strategically designed to combat fraudulent transactions with precision and securing financial stability.

/security

Network International and Mastercard expand AI-powered Brighterion solution

Network International, the leading enabler of digital commerce across the Middle East and Africa, has extended the benefits of Mastercard’s Brighterion fraud prevention solution, powered by artificial intelligence (AI), to over 60,000 merchants. The two partners are leveraging the cutting-edge technology to protect and grow the payments industry by providing transaction fraud screening and merchant monitoring services to merchant acquirers and businesses.

/cloud

Coupa opens local data centre in the UAE

Coupa, the leading AI-driven platform that helps you operate smarter and grow faster, today announced the launch of its first data center in the Middle East, inaugurated in collaboration with the Amazon Web Services (AWS) team in Dubai. The grand opening, marked by a ribbon-cutting ceremony, happened on Wednesday, February 28, 2024.

/regulation

Tech chiefs debate AI skills crisis in UK Parliament

Leaders from the technology industry have issued an urgent warning for the government to increase regulation and investment in artificial intelligence (AI) technology.

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