The financial industry has undergone a massive shift thanks to the many advancements in artificial intelligence (AI) technology. AI has transformed the financial industry, changing how institutions interact with customers, operate, and deliver banking, investment management, insurance, and fintech services.

This article will examine how artificial intelligence impacts finance, including its applications, benefits, challenges, and prospects.

CASHIN KSA, a prominent POS and digital payments fintech in the region in the Kingdom of Saudi Arabia, and Fils, a pioneering force in climate-positive transactions, empowering businesses of all sizes to embed climate-positivity into transactions using their APIs, have forged a transformative partnership aimed at revolutionizing the financial landscape with sustainability at its core.

BNY Mellon, a leading global financial services company, today announced an expanded partnership between alternative credit specialist CIFC and BNY Mellon Investment Management (BNY Mellon IM).

nCino, Inc., a pioneer in cloud banking for the global financial services industry, today announced that FirstBank Puerto Rico, a subsidiary of First BanCorp, has partnered with nCino to offer a more modern commercial lending and banking experience for its customers in Puerto Rico, Florida and the Virgin Islands, while providing greater insights into its portfolio.

Nationwide announces today that it has agreed the terms of a recommended cash offer with Virgin Money’s Board for the Virgin Money business.

Thunes, a cross-border payments company, today announced its deepened strategic collaboration with Visa, a world leader in digital payments, aimed at enabling new endpoints in key markets across Asia and Africa.

BT Group today announces that its digital and startup incubation arm, Etc. has forged a partnership with Adyen, the global financial technology platform of choice for leading businesses, to enable small business customers to accept in-person contactless payments with Tap to Pay on iPhone.

Today, Visa released the Spring 2024 Edition of its Biannual Threats Report, which outlines the top payment threats impacting consumers and businesses around the world. The report points to increasingly organized, sophisticated threat actors targeting the most vulnerable point in the payments’ ecosystem: humans.

Today, Visa Foundation released its inaugural Impact Report, capturing six years of grant-making and impact investing since its founding.