AI in Fintech
Explore how artificial intelligence is reshaping financial services. Fintech Review covers the impact of AI on automation, customer experience, risk analysis, and innovation across banking, crypto, payments, and financial platforms.
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FOMC Cuts Federal Funds Rate First Time Since 2024
The Federal Open Market Committee (FOMC) has made a significant announcement that’s stirring the finance sector. For the first time since December 2024, the FOMC has lowered the target range for the federal funds rate. This 25 basis points reduction sets a new range of 4%-4.25%. This adjustment indicates a major shift in the financial…
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Canadian Credit Unions Harness AI to Upskill Staff
Leading the fintech world, Canadian credit unions are successfully using artificial intelligence (AI) to cut costs and streamline operations, according to a recent GFT report. Instead of replacing staff with AI, these financial institutions focus on upskilling their workforce. They view AI adoption as a proactive step to remain competitive and efficient in the changing…
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August Retail and Food Service Sales Show Encouraging Rise
The Commerce Department recently announced an encouraging rise in retail and food service sales for August. The data shows a 0.6% increase from July, totaling $732 billion in sales. This progress injects a much-needed boost into the retail sector, which is gradually recovering from the pandemic’s economic impact. Over the past few months, the retail…
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Steady Builder Confidence in Single-Family Homes in September
Builder confidence in single-family homes held steady in September, according to the latest NAHB/Wells Fargo Housing Market Index data. The index stood firm at 32. The NAHB/Wells Fargo Housing Market Index, published monthly, measures builder sentiments on current single-family home sales and sales expectations for the upcoming six months. Scores above 50 suggest more builders…
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OCC to Ease Regulatory Burden for Business-Focused Banks
The Office of the Comptroller of the Currency (OCC) aims to reduce regulatory burdens on banks. This step would enable bank management to concentrate more on business challenges, says Comptroller Jonathan Gould. The OCC, a key banking sector regulator, understands the need to shift banks’ focus from regulatory issues to business operations. As part of…
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Dyna.Ai Launches Arabic AI Suite in Saudi Arabia’s Finance Sector
Dyna.Ai, an artificial intelligence (AI) technology company, has broadened its global footprint by introducing an Arabic-language AI suite in Saudi Arabia. This move supports the Kingdom’s burgeoning financial sector. The company’s innovative Agentic AI Suite and ‘AI Employees’ promise to revolutionise regional business operations. The AI Suite, a pioneering product, boasts a range of advanced…
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Clear, Simple Product Design Fuels Fintech Customer Growth
In a recent post on the ABA Banking Journal, it was explained how strategic product design can fuel customer growth. The key takeaway is that clarity and simplicity are pivotal in demonstrating the benefits of each product to customers and prospects. Many fintech companies pour abundant resources into developing innovative and advanced products. However, without…
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Open Data’s Impact on US Banking Regulations Explored
Regulation plays a crucial role in financial activities, and its impact can often limit the sector’s potential. Recently, the U.S. banking industry has shown interest in the role of open data and its influence on the regulatory framework. The question is, what is the impact of open data on U.S. banking? Open data is based…
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Money20/20 Middle East 2025 Day One Highlights Unveiled
The Money20/20 Middle East 2025 in Riyadh kicked off with a bang. Riveting news and stimulating debates marked the opening day, paving the way for the rest of the event. Noteworthy presentations were delivered by Tamara, Google, and Ant International. Each brought unique insights and inventive strategies to the fintech scene. Tamara, a leading ‘buy…
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ABA Urges Lawmakers to Extend National Flood Insurance
The ABA (American Bankers Association) recently urged lawmakers to extend the National Flood Insurance Program (NFIP) for a five-year term. They believe this move will modernise the program, bolster its stability, and enhance affordability for consumers. Additionally, the ABA advocates for stronger compliance measures under the Flood Disaster Protection Act. The NFIP plays a significant…
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US Senate Confirms Stephen Miran to Federal Reserve Board
The United States Senate recently confirmed Stephen Miran, an economist, to join the Federal Reserve board. This appointment fills an empty seat, strengthening the central bank’s control over financial and monetary policies. The Federal Reserve board shoulders the hefty task of guiding the nation’s monetary policy. This includes managing inflation, ensuring full employment, and stabilizing…
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Crown Agents Bank Leverages AI for Transaction Screening
Crown Agents Bank recently embraced artificial intelligence to improve their transaction screening process. They specifically employed WorkFusion‘s AI agent, Tara, to automate tasks once handled by humans. This initiative aims to minimize false positives in sanctions alerts, a prevalent issue among financial institutions today. By implementing Tara, Crown Agents Bank expects a substantial decrease in…
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EY Unveils AI Solution EYGP to Drive Business Growth
Ernst & Young LLP (EY) recently launched a new AI-enabled solution, EY Growth Platforms (EYGP). Powered by the latest neurosymbolic AI technology from EY-Parthenon practice, EYGP aims to help businesses spot untapped opportunities, predict market changes, and unlock large-scale revenue. Neurosymbolic AI, a fresh concept in artificial intelligence, blends the strengths of symbolic AI and…
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Hargreaves Lansdown Data Shows £276m Boost in European Funds
Investors have exhibited renewed interest in European funds in 2025, as revealed by data from Hargreaves Lansdown. The data highlights a significant £276 million swing from outflows in the previous year to robust inflows this year. This change indicates a shifting investor sentiment, with a growing preference towards European funds. Previously, European funds saw a…
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N26 Co-CEO Valentin Stalf to Join Supervisory Board in 2025
N26 co-founder and Co-CEO, Valentin Stalf, has announced a significant role change. He intends to step down from his executive role in 2025 and join the N26 SE Supervisory Board. This move marks a notable milestone, following nearly 12 years of leadership. This shift signifies a fresh chapter for both Stalf and N26. Stalf, as…
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KPMG UK Raises Concerns Over UK and Eurozone Economies
In its latest economic appraisal, KPMG UK has expressed increasing apprehension about the state of the UK and Eurozone economies. Yael Selfin, Chief Economist at KPMG UK, provided the insights through two recent statements. She examined the UK’s GDP figures along with the European Central Bank’s (ECB) latest interest rate decision. Selfin has been closely…
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Riksbank and BIS Highlight Challenges for Global Banks
Sweden’s Riksbank and the Bank for International Settlements (BIS) are among the global central banks facing transformative challenges. They underline the need for advanced problem-solving strategies to address issues like liquidity management, artificial intelligence (AI) integration, and global trade shifts. Their updates underscore the immediate need for adaptation in the rapidly evolving financial sector. Managing…
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ABA Journal Predicts 25 Basis Point Cut in Fed Funds Rate
The recent ABA Banking Journal update highlights a growing market consensus for a 25 basis point cut in the target fed funds rate. This change follows the recent inflation report, indicating its significant impact on financial markets. In recent months, finance professionals have been closely monitoring inflation rate data. The primary focus has been on…
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Consumer Sentiment in UK Dips 2.8 Points in September
The University of Michigan Surveys of Consumers unveiled a preliminary report, indicating a 2.8 point drop in consumer sentiment in September. The new figure stands at 55.4, marking a notable 14.7 point downturn from the same period last year. While the figure might alarm some, it’s important to note that consumer sentiment is a key…
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KaliSpot Boosts Financial Inclusion in Africa with 1Net Kiosks
Senegal-based fintech company KaliSpot has made significant progress in broadening financial inclusion in Africa. The innovative firm has introduced its first ‘1Net’ smart financial kiosks in Dakar. Moreover, it has announced a strategic partnership with Solarix to facilitate its expansion into the Congo Basin. The launch of the ‘1Net’ kiosks marks a significant milestone in…
