U.S. Fintech Stampli secures $50 million through Series C investment

Stampli, an U.S.-based fintech that is focused on AI-driven AP automation, announced on Wednesday it raised $50 million through its Series C funding round, which was led by Insight Partners with participation from SignalFire and Nextworld Capital. The latest investment round brings Stampli’s total funding to more than $87 million.

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[Use Cases] 12 in Finance using AI and Machine Learning

AI/ ML in Finance

Recent years have seen a rapid acceleration in the pace of disruptive technologies such as AI and Machine Learning in Finance due to improved software and hardware. The finance sector, specifically, has seen a steep rise in the use cases of machine learning applications to advance better outcomes for both consumers and businesses.

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Signal Advisors Raises $16M for Advisor Platform

Signal Advisors

Signal Advisors, a Detroit-based fintech startup that distributes annuities and life insurance, has raised $16 million that it plans to use to build an end-to-end platform for independent advisors, it said. Series A funding of $10 million was led by General Catalyst, which closed in December. It followed a $6 million seed financing round in July, with participation from Detroit Venture Partners, Ludlow Ventures, General Catalyst, Mercury Fund, Annox Capital, SV Angel and others, Signal Advisors said.

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Auditoria raises $15.5M to expand AI platform automating repetitive accounting tasks

Auditoria AI

Auditoria, a startup offering AI-driven automation products for corporate finance teams, today announced that it raised $15.5 million in series A funding. Cofounder and CEO Rohit Gupta says that the proceeds will shore up Auditoria’s investments in data science and the expansion of its sales, marketing, and customer success teams.

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Feedzai Gets Another $200M to further expand its Financial Risk AI/ML Management Platform

feedzai

Feedzai, which is based in San Mateo, Calif., and Lisbon, Portugal, received the latest funds from global investment firm KKR, with participation from existing investors Sapphire Ventures and Citi Ventures, according to a March 24 (Wednesday) announcement. With the latest funding round, the company has now raised more than $1 billion from investors to pursue its strategy.

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5 ways Artificial Intelligence can benefit Customer Experience (CX)

Man, cogs and device graphic

Customer Experience (CX) is a topic of discussion mostly in the corporate business world in this era. It refers to a customer’s comprehensive perception of a brand throughout his journey, starting from navigating the website to getting the desired product. So each activity of an organization during the customer journey has a strong impact on the customers’ perception and their decision to repurchase the same brand. In the remitting growth and success of any industry, loyal customers play a profound role.

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As Insurtech sector embraces AI, startup Zelros attracts another $11M in funding

Insuretech Sector

Among the financial sectors embracing AI technology is the insurance industry, which is looking for more personal and efficient ways to promote its products and services while streamlining underwriting and other data-heavy functions. Investors sense an opportunity in leveraging AI to finetune the insurance business through the use of technology in what is being called the insurtech sector. This week, for example, insurance tech startup Zelros…

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FundGuard raises $12 million to help manage assets with AI

Fund Guard

FundGuard, an AI-powered software-as-a-service investment management platform, today announced that it closed a $12 million funding round. The investment will spur product development to support existing partnerships, FundGuard says, in addition to helping to meet demand from alternative funds and insurers.

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The adoption of Machine Learning in data driven SaaS products

Platform on Screen

SaaS solutions have been gaining popularity over recent years to the point where most software products are using SaaS based model. SaaS has been widely accepted by industry as it requires little to no installation, software can be instantly dispatched via cloud and cloud computing offers flexibility in computing power and resources.

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Big Data, AI & Banking 4.0

Device with Use Statistics

Gone are the days of manual transactions. Adoption of computers scaled the capabilities of banking institutions. Thanks to computers, banks could handle millions of transactions very efficiently and quickly. Digital transactions were easy to store and retrieve. As computing technologies evolved, newer methods of banking got introduced. This led to generation of new digital banking services.

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How can the public sector use AI to identify fraud?

Wallet and cash

Accountability and transparency are essential for public sector audits. The public sector is under a watchful eye to ensure finances are being managed ethically and appropriately, whilst also being responsible for providing early warnings of financial pressures or failures. Due to COVID measures, there is currently a huge volume of funds being distributed to individuals…

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Amplifying Fintech and Artificial Intelligence

Fintech and AI

Institutional investment was one of the top talking points for the crypto space in 2020. It was quite understandable, with companies looking to stay positive on their balance sheets and make gains with Bitcoin. There are pockets of the crypto space that believe the increase in institutional investment was what helped Bitcoin break its previous all-time high. It is quite understandable, considering that most institutions tend to put huge money into Bitcoin when they come in. 

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Gen Z is defining digital banking – FinTech is listening

Gen Zers are the true digital natives. From streaming to sharing, those between the ages 18 to 24 expect seamless connectivity — and their finances are no exception. The banking industry has shifted servicing dramatically from its beginnings as a brick-and-mortar stalwart to become far more digitally flexible. As one of many pandemic impacts, having a choice for complete online banking is an ageless expectation, however for Gen Z it has become a table stake.

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Trovata.io raises $20 million to aggregate enterprise bank accounts with AI

Banking technology startup Trovata.io today announced it has raised $20 million in a series A round led by Wells Fargo Strategic Capital. The investment will be used to deliver new services and accelerate multi-bank APIs globally, the company says, and to add more bank distribution partners.

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Behavioral Finance in Fintech: Ideas from Revolut, Momo E-Wallet, Eagle Alpha, and Other Pros…

Behavioral finance became a reality once fintech met AI. Since its inception in fintech, AI has been improving analytics in the domain, providing more data sources to process — the ones based on user behavior. That’s why we call this type of analytics “behavioral.” Let’s see how fintech forever changed data analytics and how it helps businesses worldwide make informed forecasts. The established fintechs guide our research, and we learn from the best of them.

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AI-IOT: a powerful combination of the future

Crystal Pyramid

The current business world is changing with the adoption of IoT (Internet of Things). IoT is helping in conspicuously catching a tremendous amount of data from various sources. However, folding over the large number of data originating from incalculable IoT devices, makes it complex to gather, process, and analyze the data.

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