The financial industry is undergoing a transformation as non-banking service providers recognize the value of embedding payments into their suite of offerings. This shift towards embedded payments not only enhances the customer experience but also opens up new opportunities for issuers to build valuable ecosystems and capture emerging markets. In this article, we will explore the power of instant virtual
As businesses continue to embrace digital transformation, Stampli, a leading provider of artificial intelligence (AI)-powered accounts payable solutions, recently announced a Series D funding round that raised an impressive $61 million. This boost in capital, led by funds managed by Blackstone, brings the total amount raised by Stampli to an impressive $148 million. With this significant investment, Stampli aims to
Visa, a global leader in payments technology, has recently announced the establishment of a $100 million fund dedicated to investing in companies that harness generative AI technologies and applications for commerce and payments. With its vast potential to shape multiple industries, Visa Ventures, the corporate investment arm of Visa, aims to lead the way in driving advancements in this transformative
Financial institutions (FIs) are increasingly turning to AI-powered solutions to streamline their operations and improve efficiency. WorkFusion, a leading provider of AI digital workforce solutions, has recently launched its latest innovation – an AI Transaction Monitoring Investigator called Isaac. This digital worker is designed to assist anti-fraud analysts in managing transaction monitoring alerts more effectively, allowing them to focus on
Banking is on the cusp of a transformative shift as new technologies and evolving consumer demands reshape the industry. In a recent survey, banking executives shared their insights on the future of banking, revealing a consensus on the rise of embedded finance and the need to act as true digital ecosystems. This article delves into the survey findings, highlighting key
The adoption of artificial intelligence (AI) is rapidly gaining traction in enterprises and organizations across industries. Its potential to create new value propositions is undeniable. However, the successful implementation of AI at scale faces significant challenges with data infrastructure and sustainability. In the banking sector, where sensitive data drives operations and customer experiences, these challenges must be properly addressed. AI
In recent years, the financial services industry has witnessed a critical influx of Artificial Intelligence (AI) technologies, offering immense potential to revolutionize processes, enhance decision-making, and drive efficiency. However, integrating AI into this framework requires a delicate balance between embracing innovation and ensuring compliance with stringent regulations. In this article, we delve into the various barriers that hinder the widespread
The European Central Bank (ECB) is venturing into the world of artificial intelligence, particularly the use of large language models (LLMs). These models have the potential to enhance document analysis and software testing capabilities. However, the ECB remains cautious, taking into account data privacy, legal constraints, and ethical considerations. The ECB’s Approach to AI Adoption To accelerate the integration of
The European Central Bank (ECB), long known for its innovative approach to central banking, is now venturing into the realm of artificial intelligence (AI) to streamline its operations and enhance efficiency. This article delves into the ECB’s recent experimentation with off-the-shelf AI products, shedding light on their cautious approach, the importance of transparency in decision-making, and the potential impact on
The rise of embedded financial solutions has captured the attention of consumers, as revealed by a recent survey conducted by Marqueta. This survey aimed to understand consumer preferences in financial solutions and shed light on their expectations and concerns. The findings provide valuable insights for businesses seeking to enhance customer experiences and promote financial empowerment. Embedded Financial Solutions and Wage
TangoPay, a leading global payments platform, has announced a strategic collaboration with ThetaRay, a pioneer in AI solutions for financial crime detection. This partnership aims to bolster TangoPay’s security measures and protect its platform from the ever-growing threat of financial crimes. By implementing ThetaRay’s cutting-edge SONAR solution, TangoPay will have an advanced monitoring system in place to detect and mitigate
Generative AI, a cutting-edge technology with tremendous potential, is now being explored in the banking sector. In an exciting collaboration, Fujitsu, Hokuriku Bank, and Hokkaido Bank have joined forces to launch joint trials using generative AI technology. These trials aim to delve into the capabilities of generative AI and identify effective use cases within the banking industry. With the trials
