New Financial Conduct Authority (FCA) chair Charles Randell warns of danger of big data ‘algogracy’ July 11, 2018 The new chair of the Financial Conduct Authority (FCA) Charles Randell today warned of the danger of a new “algocracy” as new technology threatens to harm consumers of financial services. Randell suggested that the concurrent rise of “big data”, artificial intelligence and machine learning, along with behavioural science insights, could require a new regulatory framework. [...]
Mastercard is in talks with UK banks to take biometric technology to the forefront of payments security July 8, 2018 Mastercard is exploring the possibility of trialling its fingerprint-scanning cards in the UK, as the second Payment Services Directive (PSD2) rears its head on financial fraud. Currently under trial in South Africa, Mastercard's biometric card combines chip technology with a fingerprint scanner on the card's top right corner to verify the cardholder's identity when making [...]
These are the six new types of banking jobs that HSBC reckons will be in high demand in the future July 5, 2018 A new report has revealed six new banking jobs of the future expected as the industry focuses on digital evolution, with a view to how that will impact on people in the workforce. The study commissioned by HSBC analyses the challenges and opportunities on the horizon for the banking industry and has used that to [...]
City tycoon Alan Howard joins multi-million dollar round for AI tech startup Quant Insight July 5, 2018 Hedge fund tycoon and City veteran Alan Howard has backed a series B investment round into London macro analytics startup Quant Insight (QI). Additional backing came from Stone Milliner Asset Management’s Jens-Peter Stein, in a round understood by City A.M. to hold a multi-million dollar valuation. QI also said that over 80 per cent of [...]
UK and France to lead the way on cross-border tech collaboration for data and artificial intelligence innovation July 5, 2018 The UK and French governments will today sign a five-year accord to work together on digital industry innovation, committing the two countries to cooperate on innovation, artificial intelligence, data and digital administration. Digital secretary Matt Hancock is in Paris this morning to announce the partnership alongside his French counrterpart, Mounir Mahjoubi. The aim will be [...]
Behind the deal: Benjamin and Ariane de Rothschild revealed as backers of London tech startup Exo Investing July 3, 2018 London wealthtech startup Exo Investing has today announced the close of a €16.5m (£14.6m) seed round last summer, powered by a private investment from Benjamin and Ariane de Rothschild. The round also included backing from Madrid-based asset management firm ETS, and Daniel Treves and Hugo Ferreira, both former heads of La Compagnie Benjamin de Rothschild. [...]
Deep learning: Belgium’s secret weapon for England’s World Cup group decider June 27, 2018 England manager Gareth Southgate has long been be familiar with the threat posed by some of the supreme talents in the the Belgium squad such as Eden Hazard, Romelu Lukaku and Kevin De Bruyne. Yet the Red Devils have a less well-known weapon at their disposal for tonight’s World Cup match in Kaliningrad, effectively a [...]
Peltarion, the AI platform used by Nasa, Tesla and Deutsche Bank, has opened a London office June 26, 2018 Swedish artificial intelligence (AI) startup Peltarion has launched a new office in London. The office has been created with global expansion in mind, with staff being hired for digital sales and marketing as well as tech development. Peltarion's operation AI platform, which enables companies to produce real-world AI applications at scale and speed, launched in [...]
Peltarion, the AI platform used by Nasa, Tesla and Deutsche Bank, has opened a London office June 26, 2018 Swedish artificial intelligence (AI) startup Peltarion has launched a new office in London. The office has been created with global expansion in mind, with staff being hired for digital sales and marketing as well as tech development. Peltarion’s operation AI platform, which enables companies to produce real-world AI applications at scale and speed, launched in [...]
Wimbledon to serve up highlights packages using IBM artificial intelligence technology June 26, 2018 The Wimbledon tennis tournament, which starts next week, will use artificial intelligence (AI) technology to help compile its highlights packages this year. The All England Lawn Tennis Club and technology partner IBM said the Watson AI platform had been taught to recognise players’ emotions, which it would combine with an analysis of crowd noise, players’ [...]