Consumers are expressing interest in and enthusiasm for emerging payment methods in their social media conversations, according to a new report. Mastercard’s fifth annual Digital Payments Study analyzed more than 3.5 million public interactions in 2016 between consumers on social media channels—including Facebook, Instagram and Twitter—to glean insight about consumer attitudes toward new payment technologies worldwide.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Fintech funding without the tub-thumping. A realistic and brief round-up of key events. Featuring WhenFresh, Euronext, Algomi and Sensibill.
Mastercard has teamed with Turkish mobile retail firm Getir to use its bot for the “first” Masterpass payments in Facebook Messenger. Customers search for Getir (think “get here”) in Messenger, chat with the bot in a “natural, conversational way”, and make a payment with Masterpass. Getir says users can receive a ten-minute delivery from its […]
Tokyo Stock Exchange (TSE) and Japan Exchange Regulation (JPX-R) revealed that they have been reviewing artificial intelligence (AI) technologies developed by NEC Corporation and Hitachi to improve market intelligence operations.
Clear, a New York City start-up, has launched the “first” artificial intelligence (AI) powered bank for start-ups. The Clear account is designed specifically for start-ups and small business owners to manage their finances through a single banking portal. Its platform lets users ask questions and receive answers without having to look at any spreadsheets or […]
Bank of Baroda, a public sector bank in India, has launched a fellowship programme to support fintech, rural, agricultural and financial inclusion start-ups.
Plum, an artificial intelligence (AI) powered Facebook chatbot, has teamed with peer-to-peer investing platform RateSetter to encourage the UK to save more. Plum says its algorithm understands spending patterns, identifies income and bills and creates a unique profile for each one of its users. It calculates a small amount of money to save or invest […]
Residents of the US, UK, Canada, Australia and Europe can now send money and set up rate alerts using TransferWise’s chatbot, launched on the Facebook Messenger platform. According to TransferWise, for regular payments between two currencies, rate alerts will keep users updated on the daily exchange rate. Scott Miller, TransferWise head of global partnerships, says […]
Asian fintech company 8 Securities has launched Chloe, a robo-advisor that constructs portfolios with exchange traded funds (ETFs) listed on the Tokyo Stock Exchange (TSE). To begin, customers must answer a short survey which will help Chloe set goals and target dates to achieve those goals. Each yen deposited is invested into a diversified global […]
Kevin, Traity’s new chatbot, provides micro-insurance for P2P transactions online. Created in collaboration with Australia’s financial services conglomerate, Suncorp, Kevin protects buyers on online marketplaces such as Gumtree, Facebook and Craigslist.
Last week’s FinovateEurope was full of the broad range of exciting and innovative companies that we have come to expect at the show. Although the 72 companies showcasing their solutions operated right across the fintech landscape, they all sing from a common hymn sheet of improving the customer experience.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Temenos cuts jobs in US; eyes D+H payments business EXCLUSIVE. US layoffs cited as around 60 by some sources. Ziraat Bank London to replace legacy core banking tech EXCLUSIVE. Misys Fusionbanking moves in. Banks and UN launch sustainable […]
UK-based payments start-up Revolut has unveiled its “human-like” chatbot, Rita, to answer customer queries. Rita – which stands for “Revolut’s Intelligent Troubleshooting Assistant” – is accessible via the mobile app’s messenger support service. Customers can open the app, send Rita a message and get an instant reply. During the pilot scheme, Rita resolved 20% of […]
PayPal has a new pal – namely its first bot that lets users move and manage their money in a conversational and casual style. It is built on the Slack messaging platform, which has five million daily active users and lets teams centralise conversations. With the bot, people can send money between PayPal accounts without […]
CaixaBank’s mobile-only bank, imaginBank, has unveiled a chatbot to help millennials find offers and promotions most relevant to them, based on their preferences or location. Powered by artificial intelligence (AI), the chatbot will be available to users via Facebook Messenger on imaginBank’s Facebook page. Launched in January 2016, imaginBank is a 100% digital and mobile […]
There are many reasons to be excited about insurtech in 2017!
Swiss online bank Swissquote has developed a virtual reality (VR) trading application that enables users make trades with a glance. The VR headset creates a 360° trading wall for users to monitor the markets.
The rise of the chat bots continues as Cleo, a virtual money assistant described by its creators as the “Siri of personal finance,” has launched on Facebook Messenger for users in the U.K. Developed by the London-based fintech startup of the same name, Cleo is an artificial-intelligence-powered chat bot the companies say will help users manage their finances.
BNP Paribas Securities Services has acquired a minority stake in an Fortia Financial Solutions. This deal helps Fortia, a start-up that provides compliance software to the financial services industry, cement the relationship it formed with the bank during the inaugural session of the fintech accelerator by L’Atelier BNP Paribas.
Fintech zeitgeist! Welcome to the third in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of guest writer Soumik Roy. Last week, […]
While many traditional tech giants have been struggling to come to terms with the connected economy, SAP’s latest earnings indicate it is adapting well to the world of cloud computing.
Citi’s global perspectives and solutions team has issued a 100-page report on digital disruption in the fintech industry. It has analysed venture capital (VC) investments in the fintech industry between 2010 and 2016, as well as the emerging technologies across the globe.
Economists worry that artificial intelligence (AI) could make many workers obsolete. Now, AI researchers could be putting their own jobs at risk. Researchers at Google and elsewhere are writing AI software that’s better than humans at writing AI software, reports Light Reading (Banking Technology‘s sister publication). Researchers at the Google Brain artificial intelligence research group […]
Fintech zeitgeist! Welcome to the second in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. Anything goes, so here goes. Last week I was in Hong Kong, but […]
Artificial intelligence (AI) on its own isn’t enough to compete – companies need industry-specific solutions to business problems. So said Martin Schroeter, IBM’s senior vice-president and chief financial officer, on the company’s quarterly earnings call.
POSB, one of Singapore’s oldest banks and part of the DBS Banking Group, has launched an online virtual assistant. It is powered by the KAI conversational bot/AI platform from a New York-based fintech start-up, Kasisto.
Philippines-based Ayannah, a provider of financial services to migrants and the unbanked, was the overall start-up winner in the Next Money Fintech Finals 2017 in Hong Kong.
HSBC has appointed a technology advisory board of top-level specialists from around the globe as the banking giant is keen to capitalise on opportunities in artificial intelligence (AI), biometrics, blockchain and data science, combat cybercrime and leverage its global infrastructure.
They said it. We read it. We edited. A round-up of the latest funding efforts in the fintech and payments space. Featuring Kasisto, BillGO, Gumption Labs and Fraugster.
Munnypot, a new robo-advice and investment service in the UK, has fully launched with tech support from a number of partners.
In another example of glacial bureaucracy, a committee from the European Parliament has written a report which recommends a meeting about robots and artificial intelligence (AI).
LinkedIn founder Reid Hoffman is one of a host of investors bank-rolling a new initiative to develop ethics and governance standards for artificial intelligence (AI), reports Telecoms.com. The $27 million Ethics and Governance of Artificial Intelligence Fund, which also features Omidyar Network as a founder, will be built around not only engineers and corporations, but […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
India-based HDFC Bank is about to introduce its first “humanoid” branch assistant – Ira. The human-sized robot was built together with artificial intelligence (AI) company Asimov Robotics.
Artificial intelligence (AI) interfaces and chatbots could be revolutionary for financial institutions – but only if they strike the right balance between human and machine interaction.
ICICI Bank goes for Twitter, while HDFC Bank banks on Facebook Messenger.
Mobile banking app Varo Money is brining to market a chatbot and “money coach”, Val. Val is powered by Kasisto’s KAI Banking bot and “delivers insights into spending, savings, borrowing and helps people set goals as well as offer updates and encouragement about their progress”.
US-based Charles Schwab has launched its Schwab Intelligent Advisory, a hybrid advisory service that combines people and a robo-advisor. Schwab Intelligent Advisory will provide investors with a financial plan, guidance from “certified financial planner professionals”, and a fully automated portfolio using algorithm driven technology. The service is expected to launch in the first half of […]
Don’t rage against the machine, just embrace its potential and look at the real world applications. The world of machine learning (ML) came under the spotlight on day two of Mobey Day in the great city of Toronto. At yesterday’s (8 December) sessions at the Four Seasons Hotel, about 300 delegates enjoyed panels and presentations […]
