Canada’s Scotiabank preps for its AI future
Scotiabank has launched an AI framework, Scotia Intelligence, for data and AI operations that joins various platforms, data oversight, and software tools into a single instance. According to a press release from the bank, the stated purpose of Scotia Intelligence is to give employees, especially client-facing teams, access to AI under the bank’s existing governance […]
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Assessing AI powered price forecasting tools in currency markets
As artificial intelligence becomes a driving force in financial prediction, the reliability of its forecasting tools faces increasing scrutiny. Many traders question whether claims of high accuracy translate into consistent results under live market conditions. Understanding how these AI systems are evaluated reveals important distinctions between performance in theory and practice. Few financial domains are […]
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Mastercard keeps tabs on fraud with new foundation model
Mastercard has developed a large tabular model (an LTM as opposed to an LLM) that’s trained on transaction data rather than text or images to help it address security and authenticity issues in digital payments. The company has trained a foundation model on billions of card transactions, with the intention of expanding to hundreds of […]
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US Treasury publishes AI risk Guidebook for financial institutions
The US Treasury has published several documents designed for the US financial services sector that suggest a structured approach to managing AI risks in operations and policy (see subheading ‘Resources and Downloads’ towards the bottom of the link). The CRI Financial Services AI Risk Management Framework (FS AI RMF) comes with a Guidebook [.docx] which […]
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Basware’s AI agents: From invoicing to “100% automated”
Basware has introduced a AI agents in its invoice lifecycle management platform to extend the existing InvoiceAI abilities of the platform. The company positions the agents as a step towards what it calls “Agentic Finance,” a model in which AI systems undertake finance tasks under preset controls. Jason Kurtz, chief executive officer of Basware said: […]
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Insurance giant AIG deploys agentic AI with orchestration layer
American International Group (AIG) has reported faster than expected gains from its use of generative AI, with implications for underwriting capacity, operating cost, and portfolio integration. The company’s recent disclosures at an Investor Day merit attention from AI decision-makers as they contain assertions about measurable throughput and workflow redesign. AIG has outlined potential benefits from […]
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Banks operationalise as Plumery AI launches standardised integration
A new technology from digital banking platform Plumery AI aims to address a dilemma for financial institutions: how to move beyond proofs of concept and embed artificial intelligence into everyday banking operations without compromising governance, security, or regulatory compliance. Plumery’s “AI Fabric” has been positioned by the company as a standardised framework for connecting generative […]
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Research shows UK young adults would use AI for financial guidance
Research from Cleo AI indicates that young adults are turning to artificial intelligence for financial advice to help them manage their money and develop more sustainable financial habits. The study surveyed 5,000 UK adults aged 28 to 40 and found that the majority are saving significantly less than they would like. In this context, interest […]
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