We are now creating more data in every two days than was created from the dawn of civilisation all the way up to 2003 (a figure in the area of five exabytes or 5 trillion megabytes). This has led to a lot of talk around 'Big' data. And with it, came the popular misconception that the term ‘Big’ refers to the size of the data. Of course size matters, but it does not signify what Big Data is all about. Why? Because, no matter how ‘big’ your data is, if it can be stored and processed on a single machine, then your data is not Big enough!

IRIS Accountancy Solutions, the UK’s leading accountancy software provider is today launching IRIS AI, a family of AI based products and services for every size of accountancy practice. The first product in this offering is the Ai Auditor™ developed by MindBridge® Analytics Inc. The powerful artificial intelligence tool enables accountants to address skills shortages and deliver new risk and fraud assurance services.

Thomson Reuters has partnered with augmented intelligence solution provider Squirro to provide an AI-driven solution that leverages the power of today’s customer relationship management (CRM) platforms to deliver a complete, current overview of each client, boosting engagement and facilitating deal idea generation for the banking industry.

 Paysend, an international payments and money transfer company, is today announcing the beta program for its new Global Account service.

Built by a team of ex-Revolut engineers and designers, the Global Account is a simple mobile app that allows people to hold, move and spend multiple currencies globally.

Ronald Millar, CEO, said “This is another great first for our team. They have created an award winning product that changes how consumers can control and spend their money. We are continuing to define what money of the future is: money without borders”.

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM^®) solutions provider, today announced the appointment of TGT Chibo Data Service, one of the leading technology services and payment solution providers in China, as an official distributor partner for SmartStream’s TLM solutions in the Mainland market. This new agreement will allow TGT Chibo Data Service to initially market SmartStream’s reconciliations solutions to the financial sector in China, including banks, asset managers and third party administrators.

SWIFT is to introduce a pre-validation service that will allow customers to detect and resolve errors that delay payment messages before they are dispatched and enable banks to give upfront fee transparency to their end customers.

More than 50% of SWIFT gpi payments are credited to the beneficiary in less than 30 minutes and many arrive in just a few seconds. A significant part of the remaining messages are delayed due to errors in the payment data such as incorrect or missing beneficiary information, and insufficient regulatory data.

ZagTrader, a Dubai-based technology company specializing in Banking and Capital Markets Solutions, formally announces the availability of TickerChart to its existing suite of front ends. The Partnership between ZagTrader and TickerChart will provide the existing client base of ZagTrader the capability of using the advanced Front Ends of TickerChart. TickerChart products are rich in advanced features that serve active traders, such as: Chart Patterns Recognition, Real-time data filters, backtesting and advanced server side alerts.

Online retailers are continuing to lose out on sales by failing to address customers’ preferred payment methods. According to research by PPRO Group, one of the fastest growing global FinTech providers, 67% of UK consumers have abandoned an online retail transaction due to the payment process, only down 1% in the past four years from 68% in 2014. With the biggest reasons cited as 22% didn’t recognise the payment process up from 6%.

Leading analytics firm FICO today announced the latest version of FICO® Analytics Workbench™, a cloud-based advanced analytics development environment that empowers business users and data scientists with sophisticated, yet easy-to-use, data exploration, visual data wrangling, decision strategy design and machine learning. 

As new data privacy regulations shine a spotlight on AI and machine learning, the FICO Analytics Workbench xAI Toolkit helps data scientists better understand the machine learning models behind AI-derived decisions.

BMW Financial Services (GB) Ltd today announces a partnership with Wrisk that will see the insurtech startup become the sole supplier of BMW and MINI Car Insurance. The partnership follows Wrisk’s time in the first BMW Innovation Lab in 2017, which saw the team win on the final pitch day after developing the platform now being used by BMW.