Deutsche Bank's £250M AI Lending, Íope Ventures' Insurance Bet, and AI's Forecasting Triumph

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Welcome to this week's edition of Finance AI Weekly.

In this edition, we explore a range of developments in the AI and finance sectors. Íope Ventures, backed by Telefónica, has invested in Foliume to advance AI technology in the insurance industry, focusing on automating processes and reducing manual tasks. Meanwhile, US Federal Reserve Governor Michael Barr emphasized the importance of adapting regulatory frameworks as banks increasingly integrate AI technologies to stay competitive with fintech firms.

Additionally, KBRA has released research on AI's potential impact on the European economy, suggesting that AI integration could boost economic growth despite the region's slow tech adoption. In the realm of tax compliance, Anrok has expanded its platform to automate processes for managing U.S. sales tax and global VAT, aiming to assist businesses in both physical and digital sectors. These stories highlight the ongoing evolution and integration of AI across various facets of the financial industry.

Íope Ventures Invests in Foliume for AI in Insurance

Íope Ventures, supported by Telefónica, has invested in Foliume to enhance AI technology in the insurance industry. The funding aims to automate processes and reduce manual tasks for brokers and agents. Read more

US Federal Reserve Governor on AI in Banks

US Federal Reserve Governor Michael Barr highlights the need for bank regulators to adapt as fintech competition accelerates AI adoption in banks. He discussed the collaborative potential for banks, fintechs, regulators, and consumers to leverage AI benefits while managing risks. Read more

Fitch Ratings: Rising Regulatory Costs for Insurers

A report by Fitch Ratings highlights increasing regulatory costs for global insurers due to climate change and AI challenges. New regulations from bodies like the IAIS and EIOPA are driving these changes. Read more

KBRA Research on AI's Impact on European Economy

KBRA has published research on how AI integration could affect European sovereigns and potentially boost the region's economy, despite slow tech adoption. Read more

Anrok Expands Tax Compliance Platform

Anrok has expanded its platform to automate tax compliance for both physical goods and digital services, aiming to help businesses manage U.S. sales tax and global VAT through a unified system. Read more

Cambrian Secures $5.9M Seed Funding from a16z

Cambrian has raised $5.9 million in seed funding from a16z Crypto Startup Accelerator to enhance its AI infrastructure for finance, focusing on verifiable financial data. Read more

ChAI Introduces AI-Based Price Risk Insurance

ChAI has launched ChAI Protect, an AI-driven price risk insurance product to help businesses manage raw material pricing volatility. It targets sectors like FMCG, pharma, automotive, and food production, offering coverage where traditional hedging isn't feasible. Read more

Abound Secures £250 Million from Deutsche Bank for AI Lending

AI fintech Abound has obtained £250 million from Deutsche Bank to advance its AI-driven lending services in the UK, aiming to improve credit assessments and reduce default rates. Read more

Ambient Raises $7.2M for AI-Powered Blockchain

Ambient, a new Web3 project, has secured $7.2 million in seed funding from Andreessen Horowitz’s Crypto Startup Accelerator, Delphi Digital, and Amber Group. The project focuses on developing an AI-powered proof-of-work blockchain to improve AI accessibility and transparency, addressing bias and privacy issues. Read more

Ascend Partners with InCite for Accounting Automation

On April 1, 2025, Ascend announced a partnership with InCite Performance Group to become the preferred accounting automation provider for InCite's members, aiming to streamline insurance agencies' operations using AI. Read more

Feedzai Partners with Highnote for Fraud Prevention

On April 1, 2025, Feedzai announced a partnership with Highnote to enhance fraud prevention for Highnote's new acquiring business line using Feedzai's AI-native platform. Read more

Wink and Phoenix Managed Networks Merge

Biometrics and AI expert Wink has merged with global payment technology provider Phoenix Managed Networks to enhance AI and biometrics in commerce. Read more

Payhawk Introduces AI Suite for Finance Teams

Payhawk has launched the 'AI Office of the CFO,' a suite of AI agents aimed at enhancing productivity and operational control in finance teams. Read more

Standard Chartered Appoints New AI Head

David Hardoon has been named as the Global Head of Artificial Intelligence at Standard Chartered, where he will work on AI integration to improve bank operations. Read more

AnChain.AI Joins FinTech Innovation Lab 2025

AnChain.AI has been selected for the 2025 class of the FinTech Innovation Lab, where it will enhance its AI-driven solutions for financial crime investigation and fraud prevention. Read more

MOGOPLUS Partners with Google Cloud for AI Lending Insights

MOGOPLUS has partnered with Google Cloud to enhance its AI capabilities, offering advanced lending insights through the cloud marketplace. Read more

RxPreferred Introduces AI Platform to Cut Drug Costs

RxPreferred has launched RxP-AI, an AI-driven platform designed to enhance pharmacy benefits management and reduce drug costs through real-time analytics and predictive modeling. Read more

NICE Actimize Launches X-Sight ActOne with Agentic AI

NICE Actimize has introduced the X-Sight ActOne platform, incorporating Agentic AI to enhance financial crime investigations. The platform aims to improve efficiency and reduce investigation time significantly. Read more

NPCI Tests AI to Tackle Payment Frauds

The National Payments Corporation of India (NPCI) is piloting AI/ML models to detect and flag potentially fraudulent UPI IDs, aiming to improve security in digital transactions amid rising fraud cases. Read more

Broadridge Study Shows AI and Digital Asset Investment Growth

A study by Broadridge Financial Solutions reveals that a significant number of firms are investing in AI and digital assets, despite challenges with data quality and legacy technology. Read more

FurtherAI Secures $5 Million Funding for AI in Insurance

FurtherAI, a tech company in San Francisco, has raised $5 million led by Nexus Venture Partners to enhance its AI solutions for the commercial insurance sector. Read more

Global Assets Launches AI Trading System

Global Assets has introduced an AI-driven trading system aimed at enhancing global trading efficiency. The system leverages technologies like big data, machine learning, and blockchain to automate trading and improve risk management. Read more

Reality Defender Secures Investments from BNY, Samsung Next, and Fusion Fund

Reality Defender has announced strategic investments from BNY, Samsung Next, and Fusion Fund to enhance its deepfake detection technology. The funding will support efforts to combat deepfake-enabled fraud in financial and communication sectors. Read more

Linedata Acquires NROAD to Boost Financial Solutions

Linedata has acquired NROAD to enhance its services for asset managers and financial institutions by incorporating NROAD's AI capabilities in data processing. Read more

Indian Insurtech Startups Expand Overseas

Indian insurtech startups are looking to expand into international markets like West Asia, Southeast Asia, and Europe. This move is driven by increased domestic competition and the potential for AI-driven automation to meet the demand for digital solutions abroad. Read more

AI Models Surpass Traditional Methods in Economic Forecasting

Research by Sweden’s central bank, the Riksbank, indicates that AI models like random forests and neural networks are more effective than traditional time series models in predicting GDP and inflation. Read more

Deutsche Bank's £250M AI Lending, Íope Ventures' Insurance Bet, and AI's Forecasting Triumph - Finance AI Weekly #9

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