“Feedzai, which provides banks, others in the financial sector, and any company managing payments online with AI tools to spot and fight fraud — its cornerstone service involves super-quick (3 millisecond) checks happening in the background while transactions are being made — has announced a Series D of $200 million. It said that the new financing is being made at a valuation of over $1 billion.”
- “The world is seeing a faster digital transformation —starting from massive use of artificial intelligence, or AI, to cloud adoption— following the Covid-19 pandemic.
- Shenzhen-based tech giant Huawei forecasts 97 percent of all large enterprises will implement AI by 2025. AI will also power 77 percent of all cloud applications.
- ‘The pandemic has pushed a fast forward button for digital transformation around the globe,’ he added.”
“U.S. banking regulators announced on Monday they were soliciting public input on the growing use of artificial intelligence by financial institutions.
In a joint statement, the regulators said they wanted feedback on the use of the technology by banks to police fraud, underwrite loans and for other purposes, and what perks and challenges it presents.”
- “AI first banks embed three distinct features as part of their customer journey maps: Intelligent (recommending actions, anticipating, and automating key decisions), personalized (relevant and timely) and truly omnichannel (seamless across physical and online platforms).”
- “Moody’s Analytics has won Best Use of AI in Banking or FinTech at the 2021 Global Achievement Awards for AI. This award recognizes the Credit Sentiment Score™ solution, an AI-powered tool to strengthen credit assessment and monitoring processes.”