SenseTime has raised $60 million to support artificial intelligence technology development for the firm; SenseTime provides face recognition technology services to over 300 companies and also offers text, vehicle and image recognition; the firm's recent $60 million funding round was led by Shanghai-based Sailing Capital International. Source
Regional banks like Huntington Bank find themselves stuck in the middle of the innovation wave; they are not big enough...
Conversational AI provider Clinc has launched a new self service platform for banks called Spotlight; Spotlight will help financial institutions train and deploy conversational AI at their firms; the platform is available in more than 80 languages and can be integrated into contact centers, mobile apps, Alexa, Google and Facebook Messenger; they are already working with USAA and Isbank in Turkey. Source.
Writing a piece for Crowdfund Insider BankMobile’s Co-Founder, President and Chief Strategy Officer Luvleen Sidhu talks through the current banking makeover; new technologies like artificial intelligence and blockchain are becoming more prevalent; competition in the digital banking space is beginning to increase as banks look to close branches and move more focus online; banks are currently upgrading their cybersecurity defenses in the wake of the recent Equifax breach; these changes and more are happening now as banks better understand their customers and look to become more efficient. Source.
In Austin last week American Banker hosted their annual Digital Banking Conference where banks of all sizes gathered to discuss...
At their NYC Technology Summit Bank of American executives talked about how the firm is implementing artificial intelligence; some of...
CompareEuropeGroup is a London fintech company using artificial intelligence to develop digital and automated services for financial companies; it has obtained 20 million euros ($21.32 million) in new capital from a Series A funding round; investors included ACE & Company, Pacific Century Group, Nova Founders Capital, SBI Holdings, Mark Pincus and Peter Thiel; the company will use the funds to develop its technology and machine learning services. Source
Discover plans to use artificial intelligence in order to learn more about their personal loan applications; for instance, shopping at...
Personetics Act will be offered to banks as a way to help their customers pay off their student loans ahead of schedule; the tool will use the Nudge Theory by identifying students who can repay loans quicker and helping them to do so or automatically pay more than the usual payment for them; David Sosna, Personetics’ co-founder and CEO tells Banking Technology, “we’re able to identify windows of opportunity for customers to make these extra payments with no effort on their end.” Source.
Ping An Insurance Group is China’s largest insurer and one of its biggest financial conglomerates; the company has become a...