AI & ML Fintech

AI-bank of the future: Can banks meet the AI challenge? (McKinsey.com)

Artificial intelligence technologies are increasingly integral to the world we live in, and banks need to deploy these technologies at scale to remain relevant. Success requires a holistic transformation spanning multiple layers of the organization. In 2016, AlphaGo, a machine, defeated 18-time world champion Lee Sedol at the game of Go, a complex board game requiring […]

Fintech

How data analytics and machine learning are transforming money lending – CDO at Monedo (Fintechmagazine.com)

Konstantinos Papakonstantinou remembers a time when the use of AI was barely spoken about in the financial sector. “A few years back it was very hard to go to a conference and hear professionals from different organisations talk about leveraging alternative data sources and machine learning to underwrite customers,” he says. “Now we see many […]

COVID-19 Impacts Fintech

Rush to digitisation will see fintech sector flourish post-Covid-19 (finextra.com)

As the fintech sector struggles through the Covid-19 economic fallout, a report from VC Finch Capital offers some light at the end of the tunnel, suggesting that the crisis could ultimately end up benefiting the industry by accelerating the rush to digitisation.The coronavirus pandemic has had an impact on almost every part of the economy, […]

COVID-19 Impacts Fintech Retail

The Domino Effect: 5 Ways Coronavirus Will Forever Change Retail (Chris Walton, Forbes)

Following World War II, i.e. the last event of a similar magnitude to what the world now faces with coronavirus, the United States was focused on controlling the spread of communism. One popular theory at the time, domino theory, suggested that the rise of communism in one nation could quickly spread into other nations. And, while […]

COVID-19 Impacts Fintech

Covid-19: Kabbage furloughs employees (finextra.com)

Struggling with the economic impact of Covid-19, American online small business lender Kabbage is furloughing a “significant number” of its 500-strong US team and closing down its Bangalore office, according to TechCrunch. In a memo sent to staff and seen by TechCrunch, CEO Rob Frohwein says: “The economic fallout of this virus has rattled the small […]

COVID-19 Impacts Fintech

Fintech During The Coronavirus Pandemic: Helping People With Mental Health Conditions Manage Money (Madhvi Mavadiya, Forbes)

U.K. Prime Minister Boris Johnson has warned the nation that the coronavirus crisis will get worse before it gets better and stricter restrictions must be put in place to tackle the spread of COVID-19. For many, the uncertainty surrounding the pandemic can feel incessant and will take its toll on mental health, especially those with […]

AI & ML Fintech

Salesforce adds new healthcare provider relationship management and analytics tools (Sarah Buhr, Tech Crunch)

Software giant Salesforce announced this week the addition of a few new tools in healthcare management to the Salesforce Health Cloud, with the goal being to help payers and providers utilize a more comprehensive system. The first is a healthcare provider management feature allowing doctors and other healthcare workers a way to efficiently manage new accounts and […]

Credit Fintech

NEW DATA: The Innovations Credit Union Members Need To Stick, Not Switch (pymnts.com)

Credit unions (CU) members have a reputation of being loyal to their financial institution (FI) — and not without reason. CU members, by and large, are happier than most financial consumers are with their primary FIs, with 88.5 percent saying they are very or extremely satisfied with their CUs’ performance. This compares to just 80.5 […]

AI & ML Fintech

Navigating the New Landscape of AI Platforms (Manu Sharma, Harvard Business Review)

Nearly two years ago, Seattle Sport Sciences, a company that provides data to soccer club executives, coaches, trainers and players to improve training, made a hard turn into AI. It began developing a system that tracks ball physics and player movements from video feeds. To build it, the company needed to label millions of video frames […]