The Cambridge Centre for Alternative Finance is a leading provider of research and reports on fintech across the globe; their...
I first wrote about Peerform way back in 2010 when they began life as Lendfolio. Even though they are not...
Personal credit and financial management firm Credit Sesame raised $42mn in equity and venture debt; investors include Menlo Ventures, Inventus Capital, Globespan Capital, IA Capital and SF Capital; the capital will be used for growth, hiring, customer acquisition and to build out their machine learning technologies. Source.
Simility, a machine learning adaptive fraud prevention product, raised $17.5mn from PayPal, The Valley Fund and Trinity Ventures; the company helps to prevent fraud and abuse in real time using machine learning and big data analytics; Rahul Pangam, Co-Founder and CEO of Simility, tells Crowdfund Insider, “Digital disruption in the financial and commerce sectors has resulted in the need for a fraud and risk management solution that goes beyond legacy.”; the company plans to build out data science teams and continue expanding globally. Source.
A new report from Numis entitled The State of AI in 2017 explains the potential AI and machine learning for wealth managers; as AltFi reports, “AI enables asset managers to deliver to the mass affluent a degree of personalisation and service quality previously reserved for high net worth clients.”; the technology can also help to improve quality, decrease cost and help to make most of the asset management industry into robo advisors. Source.
ZestFinance, the pioneering artificial intelligence software company focused on credit, has launched a new tool called ZAML Fair that aims to...
Nav announced a partnership with Marcus by Goldman Sachs to offer SMB owners lines of credit through machine learning on the platform.
Editor’s Note: This is a guest post from Marc Stein, CEO at Underwrite.ai and Principal at Artificial Intelligence Capital Management....
BlackRock, the world’s largest investment group, is setting up an AI research lab; the move is part of a wider industry trend by asset managers to use AI and machine learning for investments; the lab is meant to help their current teams and clients better understand how best to utilize the new technologies; “Big data offers a world of possibilities for generating alpha [market beating returns] but traditional techniques are not good enough to analyse the huge volumes of information involved,” said David Wright, head of product strategy in Europe for BlackRock’s scientific active equity division, to the FT. Source.
With AI and machine learning technology becoming better banks of all sizes have started to employ chatbots with more regularity; Crowdfund Insider takes a look at 5 banks employing the technology; banks include Bank of America’s Erica, Swedbank’s Nina, Capital One’s Eno, SEB’s Aida and Wells Fargo; in most cases the chatbots help with simple tasks like checking balances, paying bills and finding the closest ATM. Source.