Citizens: Private equity firms prioritizing internal AI development
Private equity companies are cautiously deploying homegrown AI solutions as PE emerges as a major financing option for maturing companies looking for money beyond venture capital. The share of PE firms partnering with external...
Finastra’s AI-powed solution saves 2 hours on each loan closure
Finastra is looking to help its bank clients streamline their mortgage lending processes with AI with multiple lending solutions. The London-based fintech has launched multiple AI-driven solutions including Loan IQ and LaserPro and is seeing banks gain efficiencies with its offerings, Andrew Bateman, executive vice...
December FinAi Transactions: Red Rocks Credit Union, Interface.ai launch AI agent
Red Rocks Credit Union teamed up with Interface.ai to develop an AI agent for the credit union’s call center. Since the launch of Roxie, the credit...
Fintech Mercury applies for banking license
Mercury Technologies said today it applied for a national bank charter and federal deposit insurance, a move that would allow the fintech to operate...
Capital One, JPMorgan and Bank of America lead AI patents race
Capital One, JPMorganChase and Bank of America are responsible for 75% of all AI-related patent filings since 2023. What’s more, U.S.-based banks are outpacing global peers when it comes to AI...
LLMs are not your AI strategy
If you lead a bank today, you are almost certainly hearing some version of the same message from every direction: “We need an AI strategy.” ...