SAP Fioneer Introduces AI Agent for Financial Services
Jul 01
Perplexity & PayPal Revolutionize Shopping with AI Chat Interface - Finance AI Weekly #15
May 19, 2025 -
Finance AI Weekly
Hi there,
Welcome to this week's edition of Finance AI Weekly.
In the world of AI and finance, Perplexity has teamed up with PayPal to integrate AI-driven shopping within its chat interface, allowing U.S. consumers to make purchases using PayPal or Venmo. Meanwhile, Finanz Informatik and IBM are expanding their collaboration to modernize IT infrastructure with a focus on AI and hybrid cloud technologies. Additionally, transformer-based AI models are being utilized to enhance payment security by analyzing transaction data to detect fraud.
In other news, Roots has appointed Diane Brassard to lead AI initiatives in the insurance sector, and Arteria AI has partnered with TruStage to launch a digital tool for improving compliance in financial institutions. The Deutsche Bundesbank recently hosted a symposium on AI and geopolitical risks, while J Venkatramu, former CEO of India Post Payment Bank, has joined RevRag.AI to develop AI strategies in the financial sector. A survey by the Lloyd’s Market Association highlights regulatory concerns as a barrier to AI adoption in insurance.
Welcome to this week's edition of Finance AI Weekly.
In the world of AI and finance, Perplexity has teamed up with PayPal to integrate AI-driven shopping within its chat interface, allowing U.S. consumers to make purchases using PayPal or Venmo. Meanwhile, Finanz Informatik and IBM are expanding their collaboration to modernize IT infrastructure with a focus on AI and hybrid cloud technologies. Additionally, transformer-based AI models are being utilized to enhance payment security by analyzing transaction data to detect fraud.
In other news, Roots has appointed Diane Brassard to lead AI initiatives in the insurance sector, and Arteria AI has partnered with TruStage to launch a digital tool for improving compliance in financial institutions. The Deutsche Bundesbank recently hosted a symposium on AI and geopolitical risks, while J Venkatramu, former CEO of India Post Payment Bank, has joined RevRag.AI to develop AI strategies in the financial sector. A survey by the Lloyd’s Market Association highlights regulatory concerns as a barrier to AI adoption in insurance.
Perplexity Partners with PayPal for AI Chat Shopping
Perplexity has teamed up with PayPal to enable U.S. consumers to shop directly through its chat interface. This integration allows users to make purchases using PayPal or Venmo, enhancing the shopping experience. Read more
Finanz Informatik and IBM Expand Collaboration
Finanz Informatik has signed a new contract with IBM to enhance their collaboration, focusing on AI, automation, and hybrid cloud technologies to modernize IT infrastructure and improve cyber resilience. Read more
Nekuda Raises $5M for AI-Driven Payment Solutions
Fintech startup Nekuda has secured $5 million in funding led by Madrona Ventures to enhance AI agents' capabilities in making secure, autonomous online payments. Read more
Roots Appoints Diane Brassard to Lead AI Education in Insurance
Roots has appointed Diane Brassard as head of education and advocacy to drive AI transformation in the insurance sector. Brassard will focus on promoting AI and automation best practices within the industry. Read more
Arteria AI and TruStage Launch Deal Flow for Financial Institutions
Arteria AI and TruStage Compliance Solutions have partnered to introduce Deal Flow, a tool aimed at improving compliance and deal management for community financial institutions. Read more
Deutsche Bundesbank Symposium on AI and Banking Regulation
The Deutsche Bundesbank hosted its 26th annual symposium in Frankfurt, addressing geopolitical risks, AI, and regulatory simplification in banking. Read more
Former India Post Payment Bank CEO Joins AI Startup RevRag.AI
J Venkatramu, previously the MD & CEO of India Post Payment Bank, has joined the AI startup RevRag.AI as an Evangelist & Advisor to aid in the adoption of AI agents in financial sectors. Read more
AI Models Improve Payment Security with Transaction Analysis
The article explores how transformer-based AI models are being used to enhance payment security by analyzing transaction data to detect fraud and improve efficiency in financial services. Read more
Plaid Enhances Identity Verification Against AI Fraud
Plaid has upgraded its identity verification product to tackle fraud risks associated with generative AI. The enhancements include features like deepfake detection and age estimation, available to all customers without extra integration. Read more
Survey: Regulation Hinders AI Adoption in Insurance
A survey by the Lloyd’s Market Association and Barnett Waddingham identifies regulatory concerns as a major barrier to AI and machine learning adoption in the insurance industry. Read more
Kyriba Launches AI Solution TAI for Finance
Kyriba has introduced its AI solution, TAI, designed to enhance finance operations with a focus on security and compliance. The tool leverages Kyriba's Large Language Model and liquidity data to optimize workflows and decision-making. Read more
Covet Unveils AI Estate Management Platform at Finovate 2025
At Finovate 2025, Covet launched its AI-driven platform, Covet.Life, designed to improve wealth management for Registered Investment Advisors by offering a detailed view of estate assets. Read more
MOGOPLUS Launches Insight Suite on Google Cloud Marketplace
MOGOPLUS has launched its Insight Suite for Credit Decisioning on the Google Cloud Marketplace, aiming to help lenders with cost reduction and faster decision-making through personalized insights. Read more
CrediLinq Secures $8.5M for Expansion
CrediLinq, a fintech company, has raised $8.5 million in a Series A funding round to expand its AI-powered embedded finance solutions for SMEs in the US, UK, and Australia. Read more
Neutrinos Partners with Fortune 500 Insurer for AI Underwriting
Neutrinos has announced a partnership with a Fortune 500 life insurance company to transform underwriting operations using AI across eight countries. Read more
Surge Ventures Launches AI Platform for Financial Compliance
Surge Ventures has introduced SurgeONE.ai, a platform aimed at improving compliance and cybersecurity for financial institutions by integrating AI, expert services, and secure data infrastructure. Read more
Posh AI Partners with Corelation for AI Solutions in Credit Unions
Posh AI has partnered with Corelation to offer AI-powered solutions to credit unions. The partnership focuses on enhancing customer service and operational efficiency through digital, voice, and employee-facing assistants. Read more
Bank of England Launches AI Consortium for Financial Services
The Bank of England has initiated an 'Artificial Intelligence Consortium' to discuss AI's potential and risks in UK financial services, involving members from financial institutions and academia. Read more
MarvelX Secures $6 Million for AI Insurance Platform
MarvelX has raised $6 million in a funding round led by EQT Ventures to advance its AI-driven insurance platform, ClaimOS MaX. The funds will be used for product development, team growth, and forming partnerships. Read more
Broadridge Receives Patent for AI in Bond Trading
Broadridge Financial Solutions Inc. has been granted a U.S. patent for its technology involving large language model orchestration in machine learning agents, which supports its BondGPT application for corporate bond trading. Read more
TIFIN Introduces AI Platform for Financial Services
TIFIN has unveiled TIFIN AXIS, an AI-driven platform designed to enhance middle office operations in the financial sector, aiming to improve efficiency and mitigate risks. Read more
Edgen Launches AI Super App for Crypto Market Intelligence
Edgen has launched an AI Super App offering institutional-grade market intelligence tools for retail traders and analysts, featuring real-time social sentiment and AI-driven insights. Read more
Silverlake and Huawei Cloud Collaborate on AI Banking Platform
At the Huawei Cloud APAC Partner Summit 2025, Huawei Cloud and Silverlake announced a partnership to develop an AI-driven core banking platform, aiming to enhance banking operations and cybersecurity. Read more
Backbase Appoints New CTO to Lead AI Strategy
Adrian McPhee has been appointed as the new Chief Technology Officer at Backbase, where he will focus on enhancing the company's AI-powered banking platform. Read more
Billtrust Unveils AI Advancements at Conference
Billtrust introduced new AI technologies, including a multi-agent architecture and the Billtrust Autopilot AI assistant, at the Billtrust Insight 2025 conference to enhance B2B accounts receivable automation. Read more
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