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Santander's consumer bank in Norway has released a new PFM app using Open Banking tools from Nordic API Gateway. 
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AI-based financial crime detection platform Feedzai has joined the Unicorn club, raising
Vineet Anand's insight:
Feedzai SeriesD raises values with 800MM customers and counting!
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Digital wealth platform Betterment has acquired the US book of rival Canadian robo advisor WealthSimple.
Vineet Anand's insight:
Wealthsimple's offloading of US book reflects strategic focus squarely on Canadian business
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Personetics, a fintech that uses AI to help financial institutions boost customer personalisation and engagement, has secured a $75 million investment from Warburg Pincus.
Vineet Anand's insight:
Hyper-personalization or smart personal engagement AI driven Personetics gets a $75MM investment. Banking use cases are gaining greater traction including consumer and wealth segments!
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Bank of America says customers are warming to its AI-driven virtual financial assistant Erica, which has surpassed 6 million users and completed more than 35 million client requests.
Vineet Anand's insight:
AI Erica to provide greater insights on spending patterns and alerts as customers warm up to chatbot with increased interactions.
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NatWest-backed Esme Loans has signed a tech deal with Microsoft to build a cloud-based data warehouse and AI-assisted customer support.
Vineet Anand's insight:
AI based chatbot and data warehouse services to be provided by Microsoft for Esme lending!
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Nationwide Building Society is to launch a virtual assistant as a first line of support for first-time home buyers, responding to preliminar
Vineet Anand's insight:
IBM Watson driven AI virtual assistant to offer chat responses to Nationwide queries from first-time home buyers. The assistant to learn on the 'job' and connect to a human agent for any escalated interventions. Bradesco is using IBM Watson for its chat services since 2016 and has hit close to 90 million interactions!
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Australian online bank UBank is set to debut the latest member of its home loan team, Mia, a digital assistant with a human face powered by artificial intelligence technology.
Vineet Anand's insight:
Ubank digital assistant Mia goes live backed by AI chatbots
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Canada's TD Bank has integrated an AI-powered chatbot called Clari into its mobile app to help users keep track of their spending.
Vineet Anand's insight:
TD chatbot Clari introduced to mobile app undertaking basic tasks most AI chat-bots are supporting retail consumer. Will chat-bot gather traction in comparison to voice driven bots? Or will the two coexist even though demand for later is growing?
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Citigroup Inc. spent $8 billion on technology in 2017, easily more than was invested by venture capital across all U.S. financial technology startups last year.
Vineet Anand's insight:
Tech spending in big bank continues to drive automation, digital, analytics creating a bridge for retaining and acquiring the mobile savvy customer as branches continue to close. $8 billion represents 20% of total expense base for Citi !
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San Diego-based digital identity and verification firm Mitek Systems has bought French AI and image analysis specialist A2iA for EUR42.5 million i
Vineet Anand's insight:
Mitek's acquisition of A2iA to expand geo presence outside of US whilst giving access to AI and ML technology!
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French bank Crédit Mutuel is doubling down on its use of IBM's Watson platform, committing to use the AI technology across all its business lines.
Vineet Anand's insight:
IBM AI platform Watson extending its usage with Credit Mutuel in extending productivity gains and driving revenue opportunities!
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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Open banking PFM app for Santander and other bank customers in Nordics .. marks the beginning of comparative differentiation of services and fees for customers.