The financial technology (FinTech) industry has undergone a revolutionary change in the past decade, aided by technological advancements that have paved the way for new products and services. Artificial Intelligence (AI) has undoubtedly played a crucial role in determining the direction of the industry. As we move towards 2023, the role of AI in FinTech is expected to grow significantly,
Clearcover Insurance Company has recently partnered with Experian’s auto insurance comparison shopping service to launch an embedded insurance solution. The primary goal behind this collaboration is to revolutionize the auto insurance industry by empowering consumers with easy and hassle-free insurance options. Clearcover’s embedded insurance solution The newly launched embedded insurance solution by Clearcover Insurance Company strives to provide customers with
Regions Bank, one of the largest financial institutions in the US, has partnered with Temenos, a leading provider of banking software, to upgrade its legacy system for records and deposits to the Temenos Banking Cloud. The partnership is expected to benefit both companies, as Regions Bank seeks to improve the overall customer experience through more personalized banking products and services,
In the world of digital commerce, data is crucial because it helps businesses identify their customers, understand their behavior, and create personalized experiences. However, digital commerce also faces a data problem that has been a headache for merchants, issuers, and consumers alike. The data “payloads” accompanying eCommerce transactions lack the information that is most useful in determining a customer’s risk
Quantum computing has emerged as a promising technology with the potential to revolutionize various industries. The financial sector is one such area where quantum computing can bring significant change. Financial institutions deal with enormous amounts of data, and processing this data can be time-consuming and challenging. This is where quantum computing can help. This article discusses the potential of quantum
Ford Squared Technologies LLC’s One Accounting Technology continues to make strides in the public accounting technology field through its patented software solution. With the recent addition of their second approved set of patent claims, the company is expanding its capabilities in automation and further ensuring that artificial intelligence (AI) does not make the human element of tax advisory services obsolete.
In the financial industry, reliability and precision are of utmost importance. A small mistake has the potential to cause significant damage, therefore, financial institutions cannot afford to skimp on their technology infrastructure. Among the many programming languages available, Java has established itself as the most popular for developing financial applications. Java’s dominance in the banking sector There are several reasons
Atradius, one of the global leaders in credit insurance and risk management solutions, has won the prestigious IBS Intelligence Global Fintech Innovation award for Best Risk Management Implementation in the Best Adoption of Tools and Best Practices category. The company was recognized for its innovative utilization of artificial intelligence and machine learning using Temenos Explainable AI (XAI) to reduce risk
Hazy, a UK-based company, has raised $9 million in a Series A funding round to assist with commercializing synthetic data that can be used as a privacy-friendly substitute for real-world data. The funding round was led by Conviction, a venture firm that specializes in deep tech investment, and had participation from several other investors, including UCL Technology Fund, Microsoft, ACT
Artificial intelligence (AI) is revolutionizing the financial sector, making banking more efficient and effective than ever before. However, the rapid advancement of AI has also raised concerns about how it is being developed and used. Banks must take responsibility for their role in the development of responsible AI and ensure they remain transparent in how they apply it. A new
As two of the most transformative technologies of the 21st century, artificial intelligence (AI) and blockchain have captured the imagination of tech enthusiasts worldwide. However, their intersection has presented various challenges, including compatibility and regulatory issues, that need to be addressed for further innovation in the crypto industry. The Intersection of AI and Blockchain Although AI and blockchain share similarities
The impact of identity theft on the fintech industry is a growing concern. With the rise of digitalization, the risk of fraud has become increasingly prominent. Identity theft can result in massive losses due to fraudulent transactions, stolen funds, and reputational damage. According to a study by Javelin Strategy & Research, in 2019 alone, over 16 million Americans were victims
