WeLab Bank, a prominent digital bank in Asia, has recently announced an expansion of its wealth management services with the launch of a new Featured Fund Platform. This move comes after the bank entered the wealth management business last year, pioneering a personalized and intelligent investment experience for tech-savvy customers. Let’s take a closer look at the key features and
Employers have a duty to adequately supervise and retain their employees, especially in the financial sector where large sums of money are at stake. When employers fail to fulfill this duty, they may face liability for the damages caused by their employees. The Moore Charitable Foundation v. PJT Partners case is a perfect example of this type of negligence liability.
Spanish bank BBVA has announced its plans to put artificial intelligence and data technologies at the heart of its business strategy. BBVA intends to leverage these technologies to enhance internal processes, risk management, growth, and customer-facing services. To support these efforts, BBVA has partnered with Amazon Web Services (AWS) to utilize cloud-based machine learning and analytics. BBVA’s strategy is to
DJUST, a Paris-based B2B eCommerce Software-as-a-Service (SaaS) platform, has successfully raised €12m in a Series A growth funding round. The funding round was led by New Enterprise Associates, Inc. (NEA), with additional support from Elaia Partners, which is an existing investor in DJUST. This funding round has offered a considerable financial boost to the company’s expansion plans. The €12m Series
The world has shifted towards technology, and payment methods have evolved from traditional cash transactions to digital ones. The latest trend involves cryptocurrency, which promises to generate massive wealth while evading the taxman’s grasp. However, the IRS reportedly loses around $50 billion annually through unreported crypto trades, a significant chunk that has prompted increased regulations for reporting and paying taxes.
In recent years, e-commerce has become a rapidly growing industry, with more and more businesses investing in online platforms to expand their reach and access valuable customer data. For traditional retail businesses, the shift towards e-commerce presents both opportunities and challenges. Investing in an e-commerce business can expand traditional retail businesses’ reach and provide valuable access to customer data. However,
The banking and financial services industry has been leveraging the latest technologies to improve customer experiences and streamline their workflows. A combination of technologies such as artificial intelligence (AI), natural language processing (NLP), and robotic process automation (RPA) is helping the industry move forward in this direction. In this article, we will explore how these technologies are enhancing debt collection
Personalized services are ubiquitous, from the recommendations that Netflix offers based on our viewing history to the targeted ads we see on social media. The financial service industry is also recognizing the importance of personalization in its services, with a recent survey by Salesforce highlighting that over half of the consumers surveyed expect their banks to anticipate their needs and
As we move towards a more digitally enabled world, it’s not just the way we communicate or gather information that’s changing; the way we pay for goods and services is also evolving. Digital payments have become the new norm, replacing traditional methods such as cash or card payments. They offer a faster, more convenient, and secure way to manage transactions.
Advancements in technology have brought about the use of artificial intelligence (AI) in various industries, including banking. One of its most notable applications is the use of AI-powered chatbots to engage with customers. While chatbots can provide convenience and efficiency, they also come with challenges. In recent years, the Consumer Financial Protection Bureau (CFPB) has been monitoring the increasing use
The Consumer Financial Protection Bureau (CFPB) has been monitoring banks’ increasing use of AI-powered chatbots amid a surge of complaints from frustrated customers. While chatbots can offer a fast and efficient way for financial institutions to interact with customers, they can also lead to customer frustration, reduced trust, and even violations of the law. In this article, we will explore
BNY Mellon’s Pershing X, the technology solution provider for broker-dealers and registered investment advisors, has launched a new wealth management platform called Wove. The groundbreaking platform integrates multiple technology tools and enhances productivity and efficiency for advisors, enabling them to serve more clients and customize investment solutions. The Wove platform features advanced data reporting, financial plan building, flexible billing, and
