Visa & Mastercard Unveil AI Shopping, WorkFusion Leads IDP, and Trintech's New AI Module - Finance AI Weekly #13
May 05, 2025 -
Finance AI Weekly
Hi there,
Welcome to this week's edition of Finance AI Weekly.
This week, we're diving into a range of exciting developments in the world of AI in finance, FinTech, and banking. WorkFusion has been recognized for its leadership in Intelligent Document Processing by the Everest Group, marking a significant milestone in its ongoing journey. Meanwhile, Trintech has introduced an AI-driven module to streamline journal entry processes, aiming to reduce manual errors and enhance efficiency for finance teams.
In the payments sector, Visa and Mastercard have rolled out new AI-powered shopping features, with Visa also planning to integrate stablecoin solutions in collaboration with major tech partners. On the banking front, Backbase has launched an AI-powered platform to boost productivity, while 3CLogic and NewRocket are teaming up to enhance customer service in financial services through AI. These stories highlight the transformative impact of AI across various facets of the financial industry.
Welcome to this week's edition of Finance AI Weekly.
This week, we're diving into a range of exciting developments in the world of AI in finance, FinTech, and banking. WorkFusion has been recognized for its leadership in Intelligent Document Processing by the Everest Group, marking a significant milestone in its ongoing journey. Meanwhile, Trintech has introduced an AI-driven module to streamline journal entry processes, aiming to reduce manual errors and enhance efficiency for finance teams.
In the payments sector, Visa and Mastercard have rolled out new AI-powered shopping features, with Visa also planning to integrate stablecoin solutions in collaboration with major tech partners. On the banking front, Backbase has launched an AI-powered platform to boost productivity, while 3CLogic and NewRocket are teaming up to enhance customer service in financial services through AI. These stories highlight the transformative impact of AI across various facets of the financial industry.
Backbase Launches AI-Powered Banking Platform
Backbase has introduced an AI-powered Banking Platform aimed at enhancing productivity and growth for banks through automation and AI technology. Read more
Hustle Uses Quantum-AI for Fraud Prevention
Hustle is developing fraud prevention systems using quantum computing and AI to tackle financial fraud, as announced by CEO Temitope Fatunmbi. Read more
WorkFusion Recognized as Leader in Everest Group's 2025 IDP Assessment
WorkFusion has been named a Leader in the Everest Group's 2025 PEAK Matrix® for Intelligent Document Processing, marking its seventh consecutive year of recognition. The company also excelled in the Banking-specific IDP Products category. Read more
Trintech Launches AI-Driven Adra Journal Entry Module
Trintech has introduced the Adra Journal Entry module to automate journal entry processes for mid-market finance teams, aiming to reduce manual effort and errors. Read more
Visa Plans AI-Driven Commerce and Stablecoin Integration
Visa has announced its initiative to integrate agentic commerce and stablecoin, collaborating with AI partners such as Anthropic, Microsoft, and OpenAI. This move includes enabling AI agents to conduct transactions for consumers and introducing stablecoin-linked Visa cards with Stripe-owned Bridge. Read more
Visa and Mastercard Launch AI Shopping Features
Credit card companies Visa and Mastercard have introduced new AI-powered shopping features to enhance consumer experiences. Visa and Mastercard are collaborating with tech firms like Microsoft and IBM for these developments. Read more
3CLogic and NewRocket Partner to Enhance Financial Services Contact Centers
3CLogic and NewRocket have announced a strategic partnership to improve contact center solutions for the financial services sector using ServiceNow. The collaboration will integrate AI-driven capabilities to enhance customer service efficiency and experience. Read more
CSI and Dataseers Launch AI Anti-Money Laundering Tool
CSI has introduced TruDetect, an AI-powered anti-money laundering solution, in collaboration with Dataseers. The tool includes features like suspicious activity report templates and AI-driven risk scoring, and is compatible with any core banking system. Read more
TransGlobal Acquires Majority Stake in Incued
TransGlobal Assets Inc. has acquired a 51% stake in the Incued Fintech Platform to enhance AI-driven private market intelligence. The acquisition will integrate proprietary AI systems into Incued's platform, featuring tools like conversational AI and predictive analytics. Read more
Aiwyn Launches Modern Accounting Platform
Aiwyn has launched a new accounting platform designed to modernize the industry by enhancing efficiency and streamlining processes for professionals. Read more
NeuroWatt Launches AI FinTech Solutions at GITEX Asia 2025
NeuroWatt introduced its latest AI-driven financial technology solutions, including the P1 Agent, at GITEX Asia 2025. The solutions aim to improve financial decision-making and are part of the company's strategy to expand in the Asia-Pacific region. Read more
FloQast Develops AI Accounting Solution with Anthropic's Claude 3
FloQast has developed an AI-powered accounting solution using Anthropic's Claude 3 model on Amazon Bedrock. This solution aims to enhance efficiency and accuracy in accounting processes by automating tasks such as transaction matching and document annotation. Read more
Bloomberg Researchers Highlight Risks of RAG LLMs in Finance
Researchers from Bloomberg have published papers on the risks of retrieval augmented generation (RAG) large language models in financial services, noting potential safety issues and introducing a new AI content risk taxonomy for the sector. Read more
CryptoLab and UClone Launch AI Agents with Homomorphic Encryption
CryptoLab and UClone have partnered to create AI agents using fully homomorphic encryption, focusing on improving data privacy and security for users. Read more
FCA Launches AI Testing Service for Financial Firms
The Financial Conduct Authority has introduced a live AI testing service to aid financial firms in the UK with the safe adoption of AI tools, ensuring compliance and innovation. Read more
Nucleus Software Hosts Synapse 2025 in Dubai
On April 29, 2025, Nucleus Software Exports Ltd. organized the Synapse 2025 event in Dubai, focusing on the integration of AI in banking and the collaboration between human insight and technology. Read more
ION Integrates AI into XTP Risk JANUS for Enhanced Risk Management
ION has announced the integration of AI into its XTP Risk JANUS solution to enhance pre-trade risk management. This update aims to improve the accuracy of margin estimates, aiding traders in decision-making and risk control. Read more
BridgeWise Gains DIFC License and Investment from Emirates NBD
BridgeWise, an AI investment platform, has received a license from the Dubai International Financial Centre and investment from Emirates NBD, marking its entry into the Middle East market. Read more
Sedgwick Launches AI Tool Sidekick Agent with Microsoft
Sedgwick Claims Management Services, Inc. has introduced Sidekick Agent, an AI tool developed with Microsoft, to enhance claims workflows through real-time insights and guidance. Read more
Frontline Insurance Partners with Roots for AI Platform
Frontline Insurance has chosen Roots' AI agent platform to improve the efficiency of its claims and underwriting operations, announced on April 29, 2025. Read more
Rogo Secures $50 Million for AI Investment Banker
Tech startup Rogo has raised $50 million in a Series B funding round to develop AI-powered financial tools, aiming to create an AI Wall Street analyst. Read more
Klear.ai to Modernize APRA's Claims Operations
Klear.ai has been chosen by the Alaska Public Risk Alliance (APRA) to update its claims operations by merging two outdated systems into a single platform, aiming to improve efficiency and transparency. Read more
AQM Technologies Acquires TRaiCE for AI Risk Monitoring
AQM Technologies has acquired TRaiCE, a company known for AI-driven risk monitoring solutions, to enhance decision-making and risk management for U.S. banks. Read more
RS2 Launches AI Layer for Bank System Modernization
RS2 has launched an AI-powered orchestration layer aimed at modernizing bank legacy systems. This new solution facilitates real-time optimization and enhances fraud protection while ensuring compliance with regulatory mandates. Read more
OJK Introduces AI Guidelines for Banks
The Financial Services Authority of Indonesia, OJK, has launched AI Governance Guidelines to promote responsible AI use in the banking sector, setting minimum standards for AI system management. Read more
Federal Reserve Governor Calls for AI to Combat Deepfakes
At a New York Fed event, Federal Reserve Governor Michael Barr stressed the importance of banks enhancing their AI tools to tackle the growing threat of deepfake scams, affecting one in ten companies. Read more
Atom Bank Chooses Provenir for AI Credit Risk Management
Atom bank has selected the Provenir AI Decisioning Platform to improve its credit risk management for products like residential mortgages and business banking. Read more
TD Bank Group to Open AI Center in NYC
TD Bank Group is set to open a new AI research and development center in New York City, aiming to boost its U.S. operations and tap into a larger talent pool. Read more
Templum and SoFi to Offer Anthropic Shares
Templum and SoFi are collaborating to provide access to shares of AI startup Anthropic through a new class of the Cosmos Fund, available until May 8, 2025. Read more
Altruist Raises $152 Million in Series F Funding
Altruist has secured $152 million in a Series F funding round led by Singapore’s GIC, boosting its valuation to approximately $1.9 billion. Read more
10x Banking Launches AI Tools for Core Banking Modernisation
10x Banking introduces AI features to enhance legacy systems and operational efficiency in financial institutions, integrated into their cloud-native platform. Read more
Kintsugi Raises $18 Million, Valuation Hits $150 Million
Silicon Valley startup Kintsugi has secured $18 million in funding led by Vertex, doubling its valuation to $150 million. The company focuses on automating sales tax compliance for small and medium businesses using AI technology. Read more
Volution and SBI Investment Launch $100M Fund for Tech Firms
Venture capital firm Volution has introduced a $100 million fund in collaboration with SBI Investment Co. to support FinTech, AI, and SaaS companies in the UK, focusing on those with existing revenue streams seeking expansion capital. Read more
Armilla and Chaucer Launch AI Liability Insurance
Armilla Insurance Services has launched an AI Liability Insurance policy with underwriting by Chaucer, aiming to cover AI-related risks and legal challenges. Read more
ZIGChain Summit 2025 Unveils New Initiatives
The ZIGChain Summit 2025 in Dubai announced the launch of a Shariah-compliant asset platform, a $25 million AI fund, and a mainnet launch date set for June 25, 2025. Read more
AEON Partners with Plume for $PLUME Payments
AEON has partnered with Plume to integrate the $PLUME token into AEON Pay, allowing transactions at over 10,000 brands worldwide. Read more
onPhase and Bottomline Collaborate on AI B2B Payments
onPhase has partnered with Bottomline to integrate Bottomline's Paymode business payments network into its financial management platform, aiming to streamline B2B payments. Read more
Ceto Raises $4.8M for Maritime Insurance Tech
Maritime AI startup Ceto has secured $4.8 million in funding to enhance its data-driven insurance solutions for the shipping industry. Read more
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