“Avant is following the lead of other alternative lenders that have tied up with banks to increase profitability or expand into new credit products. LendingClub’s recent acquisition significantly reduced its cost of funds. By buying Radius Bank, the alt lender reduced its borrowing costs by 90% from the previous year. SoFi’s forthcoming transaction allows it…
Tag: AI eCommerce
Kendra Scott On Tapping AI To Fight AI-Equipped Fraudsters
“‘Where [AI] can be leveraged in the future is by further automating analysis, automating responses and reducing staff’s eye-on-screen time,’ he said. ‘However, with any automation, you must balance that with having trained professionals to guide the tools. While AI and ML [machine learning] are great for replacing pools of personnel performing rote tasks, they…
Klevu raises $12M for AI that personalizes ecommerce search
“While year-over-year consumer spending in the U.S. dipped last month, the pandemic has supercharged ecommerce. According to data from IBM’s U.S. Retail Index, business closures and shelter-in-place orders accelerated the shift to digital shopping by five years, with online shopping projected to grow nearly 20% in 2020. Based on the survey data from BMC and…
AI in banking: Where it works and where it doesn’t
“‘A lot of organizations embrace AI and start to work on it,’ he said. ‘But they have been in continuous experimentation mode, so nothing has really gone into production to drive through business value in terms of new revenue growth, efficiencies or better recommendations. So there’s a lot of money going into it, but no…
Peloton Breaks Out Checkbook For AI, Hardware Acquisitions
“Peloton has bought up three companies that will now give it expertise in wearable devices, artificial intelligence (AI), digital voice assistants, and interactive workout mats, Bloomberg reported. The deals could also help Peloton debut its own digital voice assistant, with the engineers joining the company focused on AI and computer vision technology. “What’s clear is…