Investment

Banks must remain accountable for their use of artificial intelligence by continuing to employ a level of human oversight.

Dutch bank holding company ING Group and its venture capital arm, ING Ventures, joined three other VC groups to fund a €14 million (about US$ 15.75 million) Series B investment round for the Czech-based mobile credit payment app Twisto.

Expense Wizard uses AI to make it easier to file expense reports, especially for infrequent travelers.

ECGS urges investors to oust the chairman and three executives; financial companies using AI to help adults manage their elderly parents’ finances.

A digital challenger bank is relying heavily on artificial intelligence to provide low-cost banking to low-income people and small businesses.

Consumers expect financial institutions to provide mobile applications that combine ease of use with top-class security features. Biometrics could help credit unions keep up with these high-stakes technology demands.

The Fed is moving to prepare banks for unexpected shocks tied to weather; rules would be eased for trades between affiliates.

Cushion uses AI to help consumers negotiate refunds of overdraft and other fees. But it argues there's a bank play in its technology if bankers take the long view.

Using AI to verify receipts alleviates the need for auditors to aimlessly review every single receipt submitted within an expense report, says Travis Andrade, a senior product manager at AppZen.

The investment money’s flowing into fintech that’s flexible and broad enough to build a bridge between issuers and merchants. For PayU’s investment wing, that’s a $500 million blanket covering cross-border commerce, open tools and markets in dire need of a digital revolution.