Category: Trade & Industry

Total fintech funding and number of deals fell last year amid rising inflation and interest rates following a digitally transformative 2021 in the wake of the COVID-19 pandemic. In 2022, fintech funding fell 46% year over year to $75.2 billion, according to CB Insights’ “2022 State of Fintech Report.” In the U.S., fintech funding plunged…

OpenAI chatbot ChatGPT has taken the world by storm for its ability to inform and entertain everyday users, but now financial institutions are uncovering where the AI-powered technology can fit into their processes, including fraud detection and bank security.   ChatGPT is an AI-powered chatbot that runs on a natural language processing and large coding…

Fidelity National Information Services Inc. has so far eliminated 2,600 staffers as new Chief Executive Officer Stephanie Ferris continues her strategic review of the financial-technology giant’s business. The job cuts, which amount to roughly 2% of the company’s full-time workforce, included about 1,000 contractors, according to a person with knowledge of the matter. The dismissals…

Steve Hagerman, chief technology officer at Wells Fargo, will join the panel discussion “Solving data expandability issues through cloud” at the Bank Automation Summit U.S. 2023 on Thursday, March 2, at 9:15 a.m. ET. Steve Hagerman, CTO, Wells Fargo View the full agenda for Bank Automation Summit U.S. 2023 here. Hagerman will discuss Wells Fargo’s…

Cion Digital announced a rebrand to UPTIQ this week. The new name is designed to reflect the company’s focus on bringing financing solutions to wealth managers and advisors. Headquartered in Texas and founded in 2021, the company made its Finovate debut at FinovateSpring 2022. Financial intelligence platform provider Cion Digital, which made its Finovate debut…

Amazon has selected fintech Stripe to assist with payment processing across its numerous businesses.  The partnership is an expansion of a 2017 deal and will see Stripe help with volume across Amazon Prime, Audible, and Amazon Pay as well as other businesses of the e-commerce giant.  Stripe will expand its use of Amazon Web Services…

AI solution FairPlay and Splash Financial are teaming up to offer unbiased loan decisioning to the digital lending platform’s network of bank and credit union partners for student and personal loans. Cloud-based FairPlay uses API integration to detect biases within decisioning including pricing, disadvantaged groups and recent decisions that lead to loans being declined, Kareem…

Risk management and compliance software company Ncontracts unveiled its new risk management suite, Ncontracts RPM, this week. Ncontracts RPM integrates four of the company’s solutions — Nrisk, Nvendor, Ncomply, and Nfndings – into a combined offering that will help FIs leverage data to enhance risk and compliance management. Headquartered in Tennessee, Ncontracts made its Finovate…

American Express is launching American Express Business Blueprint, a set of digital cash flow management tools for small businesses. Small businesses can access the MyInsights cash flow solution within Business Blueprint at no charge. Business Blueprint evolved out of Kabbage, an alternative lending startup that the company acquired in 2020. With the launch of Business…