2023 has seen an unprecedented spike of news and discussions around artificial intelligence (AI) and machine learning (ML) — after decades of research in closed scientific circles, AI- and ML-driven technologies suddenly made their way among the most desirable consumer-facing solutions. Today, AI tools are used by millions of people for getting information and doing textual tasks (ChatGPT), creating images (Midjourney, Stable Diffusion, DALL-E), writing code (GitHub Copilot), and even making music (AIVA, Soundful).

LHV Bank, one of the UK's newest licensed banks, has announced that its Personal Savings products are now available on Flagstone, the UK’s leading cash deposit platform. Both organisations share a like-minded digital-first heritage, with a clear focus on delivering a streamlined and accessible customer experience. The Flagstone platform will be a key channel to market for LHV Bank ahead of the planned launch of its consumer savings offering via its own channels in 2024.

Nothing makes a louder statement in a tight industry than being acknowledged as elite amongst your peers. This includes the growing anticipation and hype surrounding the prestigious UF AWARDS MEA 2024, as nominations continue to pour in for the industry’s best performing brands. Indeed, the stage is set for this January with these distinguished honours being given out during the upcoming iFX EXPO Dubai 2024. 

Mondu, the fast-growing B2B payments company, today announces a new collaboration with Mangopay, a modular and flexible payment infrastructure provider for marketplaces and platforms.

UK consumers are missing important payments due to the antiquated payment solutions on offer to them, potentially damaging their long-term financial wellbeing, and limiting their choices when it comes to credit. 

According to new research by Moneyhub’s Payments Division, three in ten (33%) UK consumers say they have missed a payment in the past year with 8.3% missing payments each month. 

The most commonly missed payments are:

Lucinity, the leader in AI for financial crime prevention, estimates that the recent advancements in generative AI can save the banking industry $27 billion annually in training and staff costs. 

Generative AI has the potential to significantly enhance the skills of less-experienced workers, improve the quality of their output, and result in substantial cost savings for the banking sector.

As credit default and fraud rates rise, 70 percent of financial services executives are not confident in their ability to modify risk decisioning quickly to keep pace with shifts in consumer behavior and the economy. Additionally, 43 percent say identifying fraud is a top challenge, yet only 7 percent report their anti-fraud measures are completely effective, according to a new survey conducted by Provenir, a global leader in AI-powered risk decisioning software.

ITRS, the leading provider of real-time estate monitoring and analytics software to global financial institutions, today announces that it has appointed James Colquhoun as Chief Financial Officer (CFO).

Taulia, a leading provider of working capital management solutions, today announced it has added the Bank of China London Branch, and BNP Paribas to its global multi-funder network.