MSys Acquires Gophers Lab, FintechOS Unveils Evolv Platform & LemFi's $289M African Startup Fund - Finance AI Weekly #3
February 24, 2025 -
Finance AI Weekly
Hi there,
In this week's edition of Finance AI Weekly, we're diving into the latest developments in the world of AI within FinTech, Finance, and Banking. One of the key stories is about FinTech Innovators, who have recently launched a new AI-driven platform aimed at enhancing customer experience in digital banking. This platform is designed to streamline user interactions and provide personalized financial advice, leveraging advanced machine learning algorithms.
Another highlight is from BankTech Solutions, who announced their collaboration with a leading AI research firm to develop predictive analytics tools for risk management. This partnership aims to equip financial institutions with better tools to anticipate market trends and manage potential risks more effectively. Stay tuned as we explore these stories and more in this edition.
MSys Technologies Acquires Gophers Lab
MSys Technologies has acquired Gophers Lab to enhance its AI-driven capabilities in financial technology and API automation, focusing on digital payments, regulatory automation, and fraud detection. Read more
LemFi Leads $289M Funding for African Startups
In January 2025, African startups secured $289 million in funding, a significant increase from the previous year. Nigerian fintech LemFi spearheaded this wave with a $53 million Series B round, highlighting growing investor confidence in the region's tech sector. Read more
CredCore Secures $16 Million in Series A Funding
CredCore, a New York-based AI company, has raised $16 million in Series A funding to enhance its AI capabilities and expand its platform in the enterprise credit industry. Read more
Tiger Brokers Integrates DeepSeek AI into Chatbot
Chinese brokerage Tiger Brokers has integrated DeepSeek's AI model into its TigerGPT chatbot to enhance investment support, amidst global regulatory scrutiny. Read more
HiBob Acquires Mosaic for AI Financial Integration
HiBob is acquiring Mosaic, a San Diego-based AI financial planning platform, to enhance its HR platform with advanced financial management tools. Read more
Former Uber Employee Raises $10M for AI Accounting Startup
Albert Malikov, previously with Uber, has raised $10 million for his startup Stacks, which uses AI to automate financial processes. The funding was led by General Catalyst and EQT Ventures. Read more
Napier AI to Create 106 Jobs in Belfast
Napier AI, a London-based AI firm, is opening a new office in Belfast, Northern Ireland, creating 106 jobs. The focus will be on anti-money laundering and financial crime compliance solutions, with support from Invest NI. Read more
Glassbox Secures $1.65 Million for AI Financial Modelling
The Toronto-based startup Glassbox has raised $1.65 million in pre-seed funding to modernize financial modelling with AI. The funding aims to replace traditional spreadsheets with the FinScript framework for enhanced efficiency. Read more
Alinma Bank Partners with IBM for Hybrid Cloud and AI
Alinma Bank has teamed up with IBM to integrate hybrid cloud and AI technologies in Saudi Arabia. This partnership aims to upgrade the bank's IT systems and develop a new API platform, aligning with the Kingdom's Vision 2030 for digital transformation. Read more
Federal Reserve Vice Chair Discusses Generative AI's Economic Impact
Federal Reserve Vice Chair Michael S. Barr addressed the potential effects of Generative AI on productivity, labor markets, and financial stability during a speech at the Council on Foreign Relations. He presented scenarios of AI adoption and highlighted associated risks. Read more
Prosus Ventures Invests in zypl.ai for AI in Finance
Prosus Ventures has led a $3 million funding round for zypl.ai, a Dubai-based startup focusing on synthetic data for financial services. The investment will aid in the company's global expansion and AI solution development. Read more
UBS Predicts AI-Driven Profit Boost in China's Financial Sector
A report by UBS suggests that AI advancements, particularly through DeepSeek, could increase profits in China's financial sector by up to 13%, notably benefiting brokerage and insurance firms. Read more
LexisNexis Acquires IDVerse for AI Fraud Detection
LexisNexis Risk Solutions has acquired IDVerse, an Australian company specializing in AI-driven document authentication and fraud detection, to enhance its risk management and identity verification capabilities. Read more
Muffintech Secures €3.5 Million for AI Insurance Tools
Berlin-based InsurTech startup Muffintech has raised €3.5 million to enhance its AI solutions for the insurance sector, focusing on customer service and operational efficiency. Read more
Waterdrop and DeepSeek Collaborate on AI for Insurance
Waterdrop Inc. has partnered with DeepSeek to integrate AI into its insurance services. The collaboration aims to enhance service efficiency and develop intelligent solutions for sales support and risk management. Read more
Dow Jones to Acquire Dragonfly Intelligence and Oxford Analytica
Dow Jones has announced its agreement to acquire Dragonfly Intelligence and Oxford Analytica from FiscalNote for $40 million, aiming to enhance its geopolitical risk and security intelligence portfolio. Read more
BGM Group Forms AI Strategy Committee for Insurance
BGM Group Ltd has established the Duxiaobao Management Committee to enhance its AI strategy in the insurance industry. The committee, led by CEO Li Yuqing, aims to drive intelligent transformation and improve operational efficiency. Read more
DiligentIQ Secures $12 Million in Series A Funding
DiligentIQ, an AI platform for private equity due diligence, has raised $12 million in a Series A funding round led by FINTOP Capital. The investment will support team expansion, product innovation, and market presence enhancement. Read more
Finmo Raises $18.5 Million in Series A Funding
Finmo has raised $18.5 million in a Series A funding round to enhance its AI-powered Treasury Operating System and expand globally. The round was co-led by Quona Capital and PayPal Ventures, with participation from Citi Ventures. Read more
CaixaBank's €5 Billion 'Cosmos' Tech Investment Plan
CaixaBank has launched the 'Cosmos' plan, aiming to invest €5 billion in technology and processes as part of its 2025-2027 Strategic Plan. The initiative includes integrating generative AI to enhance customer service and operations, while also expanding its workforce. Read more
Ascendion and Axos Bank Enhance Digital Banking
Ascendion has partnered with Axos Bank to enhance its financial platform, Zenith, with AI-driven solutions. The collaboration focuses on improving customer experiences and streamlining operations in digital banking. Read more
Earnix Introduces AI Copilot Alix for Insurance and Banking
Earnix has launched Alix, a generative AI tool designed to improve pricing and underwriting in the insurance and banking sectors. The AI Copilot aims to enhance decision-making and productivity by automating tasks and offering guidance, while ensuring regulatory compliance. Read more
FintechOS Unveils Evolv Platform for AI in Finance
FintechOS has launched the Evolv platform, offering advanced AI tools to enhance customer experiences and streamline operations for banks and insurers. Read more
Mastercard and Feedzai Team Up Against AI Scams
Mastercard has joined forces with Feedzai to improve fraud prevention globally, addressing the increasing threat of AI-driven scams. The collaboration will deploy the Consumer Fraud Risk solution in key markets, following its success in reducing scams in the UK. Read more
Quantum eMotion and Quantolio Sign $1 Million Licensing Deal
Quantum eMotion Corp. has signed a non-exclusive licensing agreement with Quantolio to use its Entropy-as-a-Service technology, aiming to enhance AI-driven financial applications. Read more
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