AI

How AI and Automation is Changing the Face of Investing

The growing importance of the role played by Artificial Intelligence (AI) in virtually every aspect of modern life is difficult to overstate. In simple terms AI describes the ability of a computer to think and learn. It captures the fact

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Visa Said Their AI-Powered Fraud Detection Helped Prevent US$25 Bil in Fraud Annually

Visa just announced that their Visa Advanced Authorisation (VAA) process, done using artificial intelligence, has helped financial institutions prevent an estimated US$25 billion in annual fraud. VAA, used by Visa themselves, is a comprehensive risk management tool that  monitors and

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Philippines’ Ayala Corp Raising US$150-M Fund for Disruptive Early-Stage Startups

The Ayala Corporation, Philippines’ oldest conglomerate, is raising a new venture capital fund worth US$150 million, dedicated towards investing into early stage startups engaged in e-commerce, as well as what the company deems as disruptive technologies; like fintech, healthtech, artificial intelligence,

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Huawei Bets on Singapore’s Artificial Intelligence with New AI Innovation Lab

Huawei held its Cloud Summit 2019, in which the company announced the launch of its Cloud & AI Innovation Lab in Singapore. The lab aims to cultivate local AI talents and bridge Singapore with state-of-the-art AI technologies globally, and accelerate

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Flywire Joins The Growing Number of Financial Services Deploying Machine Learning

Flywire a payments firm announced that they are deploying machine learning capabilities into its payments platform. The enhancements are geared towards improving payment to settlement time, increasing security, cost reduction and to streamline reconciliation of the growing number of international

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3 in 4 Banks in Asia Will Invest in Machine Learning This Year

The financial services industry is undergoing profound shifts facilitated by technologies including artificial intelligence (AI), robotics and the Internet of Things (IoT), but according to Refinitiv, AI will be the single greatest enabler of competitive advantage in the financial sector.

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AI Driven Fintech AIDA Gets Funding Boost from Mastercard

AIDA an artificial intelligence focused fintech recently announced that they have raised an undisclosed sum in their Series A round, which includes investors like Mastercard, Kuok Ventures and SGInnovate. The startup develops machine learning solutions for the banking and insurance

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Singaporean AI for Banks Silot Closes SG$10.85 Mil With SBI Investment

Silot, an AI platform for intelligent financial decisions, recently completed its Series A Round with US$8 million (SG$10.85 million) with SBI Investment being the lead investor, followed by Sumitomo Corporation, MUFG’s subsidiary Krungsri Finnovate, and the previous investor Arbor Ventures.

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UOB Expands Their 15-Minute Loan Approvals for SMEs with OctoRocket

With the signing of a memorandum of understanding, UOB will enable small businesses that use OctoRocket for at least six months to apply for financing directly on the platform itself. Instead of relying on a small business’ financial statements, the UOB

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The Potential of AI in Banking

Artificial intelligence (AI), an umbrella term for a host of different technologies including machine learning and natural language, holds many promises in the banking industry. Analysts estimates that AI could save the industry more than US$1 trillion by 2030. While

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