FinTech Weekly - The AI-Driven Future - Issue #484
From job cuts to smarter decisions, AI is redefining financial services and setting the stage for the next wave of innovation.September 05, 2024FinTech Weekly brings you the latest on how AI is revolutionizing the fintech industry. From Klarna's bold move to cut its workforce by half in favor of automation to Magic’s partnership with Google Cloud to build supercomputers, AI is steering the future of financial services. Discover how companies like Story Protocol and Aibit are leveraging artificial intelligence to protect creators' rights and enhance decision-making in digital finance. Insights from industry leaders highlight the growing need for collaboration between traditional banks and fintech startups to unlock new opportunities. This and much more in this number of FinTech Weekly: discover top fintech news and events and stay ahead of the competition! |
893. News: Banking could face major job losses, Atlantic Money to challenge SWIFT, US regulatory approval for OakNorthHosts Benjamin Ensor and Nadine Timmer-Bodenstein, joined by special guests, dive into this week's major fintech and financial services news. Key topics include a warning from the FS trade union about AI-induced job losses in big banks, Atlantic Money's new challenge to the SWIFT network, OakNorth's approval to offer its products in the U.S., and KOHO's launch of tenant insurance and rent reporting services for renters in Canada. |
Two-Year-Old Startup Uses Blockchain To Battle AI Copyright Theft And Surpasses $2B In ValuationStory Protocol has rapidly reached a $2.25 billion valuation in just two years by focusing on protecting creators' rights in the AI era. The company recently secured $80 million in funding, led by venture capital firm Andreessen Horowitz (a16z crypto). |
Banks Will Lose Opportunities If They Don’t Work With Fintechs: Axis Bank MDAxis Bank MD and CEO Amitabh Chaudhry warned that banks risk missing valuable opportunities if they don't collaborate with fintech startups. He noted that fintech platforms are introducing innovative technologies, products, and services that can significantly enhance customer interactions and overall ecosystems. Chaudhry emphasized that working with fintechs is crucial, as banks often lack the necessary resources and time to develop these advancements independently. |
NZ fintech in process of launching first bank designed for Open Banking and AINew Zealand fintech company Debut is gearing up to become the country’s first locally-owned bank tailored for an open banking environment and driven by artificial intelligence (AI). This move addresses increasing concerns about competition and consumer choice in the banking sector, as underscored by a recent report from the Commerce Commission. |
New AI system by Aibit enhances decision-making for fintech usersAibit, a prominent digital asset trading platform, has unveiled a new AI system aimed at improving decision-making for fintech innovators. This advanced system is designed to tackle common issues encountered in the rapidly changing world of digital finance and technology. By leveraging sophisticated artificial intelligence, Aibit's solution streamlines the selection process, enabling users to quickly explore options and make well-informed decisions. |
Klarna CEO reveals plan to reduce workforce by 50% and replace it with AIKlarna’s CEO has announced a dramatic plan to cut the company’s workforce by 50% and replace those roles with artificial intelligence, signaling a major shift in the fintech giant's strategy. Known for its innovative approach to e-commerce since its founding in 2005, Klarna, under CEO Sebastian Siemiatkowski, is making an unprecedented move towards automation that has shocked the fintech industry. |
AI Can Transform Fintech Sector But Is Not Being Used Enough: Peak XV’s Shailendra SinghShailendra Singh, managing director of Peak XV Partners, highlighted a lack of artificial intelligence (AI) adoption in India's growing fintech sector. Speaking at the Global Fintech Festival's "Future of Fintech" session, Singh emphasized that AI has the potential to bring transformative changes to the industry. |
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AI Meets Global Finance - Issue #482
Thursday, August 22, 2024
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