FinTech Weekly - AI and FinTech Unite - Issue #480

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Innovations and challenges in the evolving world of fintech and financial inclusion.

August 08, 2024

FinTech Weekly dives into the latest in financial technology with highlights including Jeff Bezos' pivot to AI investments, and Zopa's industry collaboration milestone. Discover how FinTech is revolutionizing wealth preservation, estate planning, and financial inclusion, with features on Add Labs' InfluxAI project and Microsoft's partnership with dLocal. We also explore the challenges and advancements in on-chain security and the underbanked population's access to digital payments. This and much more in this number of FinTech Weekly: discover top fintech news and events and stay ahead of the competition!

Jeff Bezos Is Putting His Money Behind AI, Meet The Unicorns Earning His Dollars
Jeff Bezos Is Putting His Money Behind AI, Meet The Unicorns Earning His Dollars
— via Benzinga

Jeff Bezos' family office, established in 2005, has heavily invested in technology, now shifting towards artificial intelligence. This focus reflects both his interests and the growing number of promising AI startups. A key investment is Perplexity AI, an AI search engine that raised $63 million in April, reaching a billion-dollar valuation. Despite recent plagiarism accusations, Perplexity AI has implemented a publisher program to share ad revenue with content creators featured in its search results.

News: Zopa's Fintech Pledge hits 15m actions, Metro Bank mortgage asset fire sale, and FemaleInvest raises €10.3 million Series A
— via Fintech Insider

Fintech Insider reports that Zopa's Fintech Pledge industry coalition has reached a significant milestone, demonstrating strong industry collaboration. Additionally, Metro Bank has sold £2.4 billion in mortgage assets to NatWest, streamlining its portfolio. Female Invest successfully raised €10.3 million in a Series A funding round, advancing its mission to empower female investors. Meanwhile, Westpac has introduced debit cards for children as young as eight, promoting financial literacy from a young age.

Scientists from Polygon Labs and Leading AI Companies Leverage AI to Address Blockchain Security
— via Markets Insider

On-chain security issues stem from smart contract vulnerabilities and human factors, with developers struggling to inspect all historical code while hackers exploit weaknesses. Traditional security firms often neglect smaller clients, leaving many without protection. To tackle this, Add Labs' AI+Web3 team launched InfluxAI. Founded by David Adeola, Add Labs operates in the UK, Africa, and the USA, with a team including experts from Polygon Labs and top AI firms. The project has attracted investment from Hong Kong's Harmon Venture, highlighting InfluxAI's transformative potential.

This Organization is Funding the Finternet, One Fintech at a Time
— via Global Banking & Finance Review

In many established markets, transferring money is effortless, often just a tap or scan away. However, over 1.4 billion people globally lack access to basic financial services, including digital payments. These "underbanked" individuals, often residing in remote areas like rural Mexico, are served by community banks without the infrastructure for digital transactions. The Interledger Foundation (ILF) aims to address this by creating a global, interconnected network to provide easy payment options regardless of location or banking institution.

Microsoft and dLocal Forge Strategic Partnership to Harness Artificial Intelligence in Fintech in Uruguay
— via Financial IT

Microsoft and dLocal have announced a landmark partnership to integrate advanced artificial intelligence solutions into the financial technology sector. The announcement took place at an event held at Microsoft's AI Innovation Lab in Montevideo.

Tech tycoon’s arrest dents South Korea’s fintech and AI ambitions
— via Financial Times

The arrest of South Korea’s top tech entrepreneur has thrown a major company into disarray, with potential repercussions for the banking sector and AI ambitions.

The Future of Fintech and Its Influence on the S&P 500
— via PC Tech Magazine

Fintech is driving significant changes and innovations in finance, transforming mobile payments, online banking, crowdfunding, robo-advisors, and blockchain. These advancements are impacting the S&P 500, one of the most frequently cited stock market indexes.

The Impact of FinTech on the Future of Wealth Preservation and Estate Planning
— via TechBullion

FinTech has revolutionized the financial services industry, especially in wealth preservation and estate planning. Traditionally reliant on manual processes and intricate legal frameworks, these areas now benefit from streamlined digital solutions, enhancing efficiency and accessibility.

Jobs

Software Engineer, Early Caree
Software Engineer, Early Caree
— via Affirm

Are you passionate about software engineering and eager to make a real-world impact? Join us on a journey where your coding skills will shape the future of finance.

 SEO Manager
SEO Manager
— via GoCardless

Working closely with the Director of Customer Acquisition, as SEO manager you will be in charge of implementing a best-in-class SEO strategy across technical & content

Engineering Manager
Engineering Manager
— via Plaid

Plaid powers the tools millions of people rely on to live a healthier financial life. We work with thousands of companies like Venmo, SoFi, several of the Fortune 500, and many of the largest banks to make it easy for people to connect their financial accounts to the apps and services they want to use.







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