Issue 485 · Sep 12, 2024 Weekly edition · 3 min read

New Codes of Finance

FinTech Weekly brings you "New Codes of Finance," a dive into how AI, regulatory frameworks, and cutting-edge innovations are reshaping the financial world. From global AI agreements to the rise of fintech ecosystems,

Share in X

IA Engine opens applications for eighth FinTech accelerator cohort and expands global partnerships

The Investment Association (IA) has opened applications for the eighth cohort of its annual Engine Innovator Programme, a FinTech accelerator aimed at the investment management industry. Engine, the IA's dedicated FinTech hub, collaborates with over 150 FinTech firms and partners to drive technology adoption within the sector.

Read the full story ↗

In this issue · 7 items

US, EU and UK sign world’s first international AI treaty Cointelegraph — The global effort to harmonize values on artificial intelligence progressed after a meeting of Council of Europe justice ministers. The United States, European Union, and United Kingdom are expected to sign the Framework Convention on AI, emphasizing human rights and democratic principles as central to regulating AI in both public and private sectors. Open story ↗ Lloyds Bank uses artificial intelligence to check trade finance documents ComputerWeekly — Lloyds Bank is enhancing its trade financing sales by incorporating artificial intelligence (AI) to automate the document-checking process, ensuring compliance with industry regulations. Open story ↗ South African Regulators May Be Using AI To Crack Down On Crypto Tax Dodgers TechReport — In November, South Africa joined 46 other countries in adopting the Crypto Asset Reporting Framework (CARF), which sets standards for reporting crypto transactions. While full implementation in most countries is expected by 2027, SARS has already begun issuing tax notices and tightening crypto regulations to ensure compliance. Open story ↗ UAE-based fintech startup Ziina raises $22 million in Series A funding round CNBC International News — Faisal Toukan, CEO and co-founder of UAE-based fintech Ziina, outlined the company's strategy to transform from a simple payments platform into a comprehensive financial ecosystem. Open story ↗ Fintech giant Ant Group spins out AI service into a personal assistant app in China SCMP — Chinese fintech giant Ant Group, which operates the popular payment service Alipay, has introduced a stand-alone AI app designed as a virtual assistant. This move is part of the company’s broader strategy to transform large language models (LLM) into consumer-facing services. Open story ↗ How AI Can Transform Fintech, Credit Scoring Forbes — The rapid evolution of artificial intelligence is reshaping industries, with fintech standing out as a key beneficiary. As the financial sector continues to digitize, AI is set to transform areas like credit scoring and fraud detection. This article delves into AI's potential in fintech, particularly its impact on credit scoring and its integration with blockchain technology. Open story ↗ Fintech Tackles Financial Exclusion Head-on With Innovative Solutions Yahoo! Finance — Financial exclusion occurs when individuals are unable to access mainstream financial services, reinforcing poverty and inequality. Banking access is often essential for securing housing, jobs, and social benefits. Despite the rise of digital financial solutions, many underserved groups remain reluctant to adopt fintech due to obstacles like lack of trust, limited digital literacy, and privacy concerns. These challenges are further exacerbated by systemic inequalities that disproportionately affect low-income individuals, minorities, and rural communities. Open story ↗

← Previous issue The AI-Driven Future Next issue → Future-Proofing Finance

IA Engine opens applications for eighth FinTech accelerator cohort and expands global partnerships

Finance intelligence, minus the noise.

Good questions. Clear answers.

Imprint