Bank of America Hits 30 Billion AI Interactions & More - Finance AI Weekly #57
March 16, 2026 -
Finance AI Weekly
Hi there,
Welcome to this week's edition of Finance AI Weekly.
In recent developments, Orca Fraud, a Cape Town-based startup, has successfully raised $2.35 million in seed funding to bolster AI-driven mobile payment security across emerging markets. Meanwhile, Payoneer and FundPark have announced a strategic partnership aimed at enhancing AI-driven credit solutions for e-commerce businesses in Hong Kong, offering credit facilities up to USD 10 million.
Additionally, Judan Financial has acquired a majority stake in Alpha Wave to support the launch of an AI-native life insurance business. Bank of America reported a significant increase in digital client interactions, reaching 30 billion in 2025, with their AI assistant, Erica, playing a pivotal role. In another collaboration, Affiniti and Column are set to enhance AI-driven financial solutions for SMBs, with Column providing the necessary financing for Affiniti's expansion into new product lines.
Welcome to this week's edition of Finance AI Weekly.
In recent developments, Orca Fraud, a Cape Town-based startup, has successfully raised $2.35 million in seed funding to bolster AI-driven mobile payment security across emerging markets. Meanwhile, Payoneer and FundPark have announced a strategic partnership aimed at enhancing AI-driven credit solutions for e-commerce businesses in Hong Kong, offering credit facilities up to USD 10 million.
Additionally, Judan Financial has acquired a majority stake in Alpha Wave to support the launch of an AI-native life insurance business. Bank of America reported a significant increase in digital client interactions, reaching 30 billion in 2025, with their AI assistant, Erica, playing a pivotal role. In another collaboration, Affiniti and Column are set to enhance AI-driven financial solutions for SMBs, with Column providing the necessary financing for Affiniti's expansion into new product lines.
Orca Fraud Secures $2.35M for AI Payment Security
Cape Town-based startup Orca Fraud has raised $2.35 million to enhance AI-driven mobile payment security in emerging markets. Read more
Payoneer and FundPark Partner for AI Credit Solutions
On March 10, 2026, Payoneer announced a strategic collaboration with FundPark to enhance AI-driven credit solutions for e-commerce businesses in Hong Kong. Read more
Judan Financial Acquires Majority Stake in Alpha Wave
Judan Financial, part of Abu Dhabi's International Holding Company, has acquired a 50.1% stake in U.S.-based Alpha Wave to support its AI-native life insurance business. Read more
Bank of America Records 30 Billion AI Interactions in 2025
Bank of America reported 30 billion digital client interactions in 2025, marking a 14% increase from the previous year, driven by its AI assistant, Erica. Read more
Affiniti and Column Partner for AI Financial Solutions
The partnership between Affiniti and Column focuses on expanding AI-powered financial solutions for small and medium-sized businesses, with Column providing financing to support new product lines. Read more
JP Morgan and Mirakl Partner for AI Payment Solutions
JP Morgan Payments and Mirakl have teamed up to develop autonomous AI payment solutions, leveraging Mirakl Nexus for AI-driven transactions and JP Morgan's payment infrastructure. Read more
Coconut Software Unveils AI Solution for Banks
Coconut Software has launched an AI-powered platform called Multi-Lines of Business to enhance operational efficiency in financial institutions by integrating operations, workforce planning, and customer engagement. Read more
Velvoite Launches AI Tool for EU Financial Compliance
Finland-based Velvoite has launched an AI compliance copilot to assist EU financial institutions in real-time regulation monitoring, covering over 3,400 documents across 17 regulation families. Read more
MoonPay Introduces AI Agent with Ledger Integration
MoonPay has launched an AI agent that integrates with Ledger signers, enhancing security in autonomous cryptocurrency trading by keeping private keys secure and requiring user approval for transactions. Read more
Rogo Acquires Offset for AI Integration
On March 13, 2026, Rogo announced its acquisition of Offset to integrate AI technology into its financial platform, enhancing automation and efficiency for finance professionals. Read more
CLPS Incorporation Launches AI Solution for COBOL to Java Migration
CLPS Incorporation has introduced an AI-driven solution to aid the transition from COBOL to Java in the banking sector, addressing the shortage of COBOL programmers. A successful proof-of-concept was completed for a major bank in Hong Kong. Read more
Banco Santander and Visa Launch AI Payments Pilot in Latin America
Banco Santander and Visa have completed a pilot program for AI-assisted payments in five Latin American countries, showcasing secure transactions through AI agents. Read more
GMO Internet Group Launches $200 Million Fund for Fintech and AI Startups
GMO Internet Group has launched its eighth venture capital fund to support startups in fintech and AI, starting with $43 million and aiming for $67 million by 2027. Read more
Chaseit.ai Expands AI Voice Agents for Financial Services
Chaseit.ai, a fintech startup, has launched an AI platform for financial services, currently handling over 20,000 calls daily with plans to increase to 30,000. The platform aims to improve efficiency by automating calls for loan servicing and customer support. Read more
Mastercard Partners with Borderless.xyz for Stablecoin Payments
On March 13, 2026, Mastercard announced a partnership with Borderless.xyz to enhance stablecoin payment solutions through its Crypto Partner Program. Read more
PureFacts and Innover Partner to Boost AI in Finance
On March 12, 2026, PureFacts Financial Solutions and Innover Digital announced a strategic partnership to enhance innovation in the financial services sector by leveraging AI and digital transformation. Read more
Central Bank of Nigeria Requires AI AML Systems
The Central Bank of Nigeria has mandated financial institutions to adopt AI-powered Anti-Money Laundering systems to enhance real-time monitoring and compliance against money laundering and terrorism financing. Read more
Network International and ADCB Egypt Launch AI Fraud Solution
Network International and ADCB Egypt have introduced Egypt's first AI-powered transactional fraud solution, utilizing FICO's analytics to enhance fraud detection and protect digital transactions. Read more
MetaComp Raises $35M for AI Payment Solutions
Singapore's MetaComp has secured US$35 million in Pre-A+ funding, with backing from Alibaba, to expand its AI-driven payment platform in Asia. Read more
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