In a significant development for the Latin American fintech sector, global giants PayPal and Samsung have participated in a $13 million funding round for Prometeo, a leading embedded banking software platform. The strategic investments highlight the growing interest and potential of embedded finance in the region. Prometeo’s innovative platform aims to consolidate the diverse financial technology infrastructures across Latin America
In today’s fast-paced world, Artificial Intelligence (AI) has emerged as a game-changer in various industries, and finance is no exception. From improving customer experiences to streamlining operations, AI has become an integral part of businesses across the globe. Financial institutions have recognized its potential to transform their operations, save time, and drive innovation. In this article, we will delve into
In today’s digital age, the rise of artificial intelligence (AI) has revolutionized various industries, including banking and finance. However, with new technology comes new threats, as both criminals and institutions leverage AI to combat or perpetrate fraud. As financial institutions increasingly invest in AI-based cybersecurity measures, concerns over the growing cybersecurity threat posed by fraudsters become more pronounced. AI Adoption
Digital wallets have revolutionized the way transactions are conducted, paving the way for a shift from traditional credit cards to a more portable and convenient form of payment. In the context of Africa, these innovative financial solutions have not only reshaped the payment landscape but also played a crucial role in fostering financial inclusion across the continent. The Role of
The financial industry is constantly evolving, driven by technological advancements and changing customer expectations. To stay ahead of the curve and remain competitive, financial institutions need to embrace digital transformation. Intelligent automation and hyperautomation offer powerful solutions, revolutionizing the way processes are managed and executed. This article explores the benefits, implementation strategies, and the role of changing regulations in driving
In today’s fast-paced digital world, mobile wallets have emerged as a revolutionary means of making payments. The global mobile wallet market is poised for exponential growth, with a projected Compound Annual Growth Rate (CAGR) of 27.80%, reaching a staggering valuation of US$ 138.5 billion by 2034. This article delves into the driving forces behind this growth, analyzes historical and projected
In the fast-paced financial industry, there has been a lingering fear that artificial intelligence (AI) will replace human job roles. However, forward-thinking professionals within the industry believe that AI will not render humans obsolete but rather enhance their productivity where it matters. The potential of AI to automate repetitive and tedious tasks, while flagging incidents requiring human intervention, is becoming
In this era of digital advancement, the integration of finance into our everyday lives has become more seamless and ubiquitous. Embedded finance refers to the spectrum of financial services that are now seeping into our daily digital experiences, fundamentally transforming the way we interact with money. From embedded payments to embedded lending, insurance, investment, banking services, savings, cards, and rewards,
In the rapidly evolving landscape of fintech, artificial intelligence (AI) has emerged as a game-changer. The year 2024 presents a pivotal moment for fintech companies to leverage AI technology to enhance customer experience, streamline financial processes, and strike a harmonious balance between human and AI roles. This article explores the various ways in which AI can transform the fintech industry
Embedded finance has emerged as a powerful tool that empowers industries like retail, e-commerce, and gaming to provide tailored financial services. By integrating financial services directly into their platforms and products, these industries can enhance the customer experience and drive new revenue streams. One technology that has played a crucial role in enabling embedded finance is blockchain. With its decentralized
The financial industry is on the brink of a transformative shift and embracing the power of artificial intelligence (AI). Firms are recognizing the need for a strategic combination of on-premises infrastructure and cloud-based computing to mitigate concentration risk and maintain agility in the face of rapid technological advancements. Integration of AI technologies in operational processes As we enter an era
BBVA, a global financial institution, has recently conducted an innovative generative AI program called ‘DataRally’ to identify and train talent in the use of large language models. This groundbreaking initiative aims to harness the power of artificial intelligence to enhance internal processes, fuel global development projects, and empower employees. Overview of Participation Determined to foster innovation and empower its workforce,
