“Using artificial intelligence and automation to digitize and upgrade banking processes is the new imperative for banks and credit unions. They have come to realize that becoming truly digital institutions requires much more than offering a mobile banking app, or turning paper files into digital files. Digital transformation requires a much more comprehensive approach. To…
Tag: Financial Services
The team that built an AI to dominate poker is now picking stocks
“Three of the developers responsible for DeepStack, the first AI system to beat humans at heads-up, no-limit poker, have left their posts at DeepMind to form a new startup dedicated to dominating the stock market. Martin Schmid, Rudolf Kadlec, and Matej Moravcik, the company’s founders, all worked together at IBM and DeepMind. The founders’ history…
How AI is changing banking
“The principle sounds simple: if you know your customers well, you can make suggestions that best suit them. This wisdom, which has always applied in the analogue world, is becoming increasingly important in the digital world. It could also become more important when advising on investments in the future. For example, algorithms can help bank…
Fintech Roundup: Goldman Sachs buys another startup, Fast hits a speed bump and BaaS gets hotter
“Fintech M&A hasn’t been as robust as one might expect in recent months. So when Goldman Sachs announced this week it was buying NextCapital – a fintech company that provides automated advice to corporate retirement plan participants – my ears perked up. In the case of NextCapital, which uses algorithms and automation to allow users…
Apple Acquires U.K. Financial Health Startup Credit Kudos
“Credit Kudos lets businesses assess loan applicants by analyzing banking data, such as user transactions, and offers a service for potential borrowers to assess their credit worthiness. Apple has been escalating its push in payments in recent years, launching the Apple Card in the U.S. in 2019 and rolling out Apple device installment plans on…