Artificial intelligence

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NextGen Nordics 2024: Where will AI lead us?

In the last panel of NextGen Nordics 2024 in Stockholm, ‘The future of AI - crystallising the potential of this technology’ speakers explored how AI and new trends in tech are impacting the payments industry.


ComplyAdvantage buys Golden to boost financial crime intelligence

AI-based financial crime detection startup ComplyAdvantage has acquired Golden Recursion in a deal that brings Andreessen Horowitz in as a shareholder.


NextGen Nordics 2024: NPC promoting innovation and harmonisation in the Nordics

NextGen Nordics, Finextra’s annual payments event, kicked off on April 23 2024 in Stockholm, Sweden, bringing together an array of experts and leaders in the Nordics payments industry.


Wagestream raises £17.5m

Financial wellbeing app Wagestream has raised £17.5 million in a funding round joined by a British Business Bank subsidiary.


EC and CFPB meet on consumer risks from AI and BNPL

US and European officials have begun an "informal dialogue" on consumer financial protection issues, focusing on the rise of Big Tech in payments; the use of AI in lending; and the emergence of buy now, pay later.


CMA outlines competition concerns with AI Foundation Models

The Competition and Markets Authority (CMA) has identified key risks to fair competition in AI Foundation Models (FMs), growing concerns as AI rapidly develops in the financial industry.


JPMorgan's Dimon stresses 'critical' impact of AI

In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon has singled out the "critical impact" of AI and the "essential" importance of migration to the cloud.


Google Cloud wins major FS deals

Google Cloud has used its annual Las Vegas event to unveil details of deals with big name financial services firms Citadel, Discover and Scotiabank.


Fintech funding slides to 7-year low

Global funding in the fintech sector has fallen to its lowest level since 2017, according to newly published research.


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.


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.


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

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


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.


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.


Ireland’s fintech funding slumps

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


LHV Bank to offer ChatGPT to all employees

Lond-based LHV Bank has signed a deal with OpenAI to licence ChatGPT Enterprise, providing unlimited access to the GenAI toolset for all of its employees.


TransUnion launches AI-powered data analytics platform

Credit bureau TransUnion has unveiled a cloud-based AI-powered data and analytics platform for financial institutions.


EBAday 2024: Calling early-stage startups to showcase products

The 19th edition of EBAday, the largest annual European event for payments and transaction banking, will return on 18th – 19th June 2024 at CCL in Lisbon, Portugal.


MPE 2024: AI-driven misinformation and consumer education in fraud

In an exclusive interview at Merchant Payments Ecosystem 2024, trust and safety architect at Sift Brittany Allen spokes with Finextra on new challenges in the fraud space, and how the spread of misinformation on social media is a major concern with AI-driven technology.