Fintech Weekly | Issue 47

Artificial intelligence research laboratory Imbue received $200 million in financing, with Nvidia participating in the investment

On September 7, 2023, the artificial intelligence research laboratory Imbue announced a $200 million financing, with institutions and individuals such as Astera Institute and Nvidia participating. Since its establishment, Imbue has accumulated financing of $220 million, with a platform valuation of $1 billion.

Information link:

https://www.usnews.com/news/technology/articles/2023-09-07/imbue-raises-200-million-at-over-1-billion-valuation-in-ai-funding-boost

Comment: Imbue (formerly known as "Generally Intelligent") is headquartered in San Francisco and mainly trains as a large model for "inference" optimization, and has been applied for the first time to develop artificial intelligence agents that can be encoded.

Strike, a Norwegian anti money laundering technology supplier, received $10.8 million in financing

On September 6, 2023, Norwegian fintech startup Strise announced a $10.8 million financing, led by London venture capital firm Atomico. Strise was established in 2019, utilizing the power of artificial intelligence and natural language processing technology to provide intelligent insights for user companies to simplify customer acquisition and implement risk based intelligent anti money laundering processes, including real-time KYC and KYB checks through continuous customer monitoring.

Information link:

https://financialit.net/news/fundraising-news/strise-raises-108m-redefine-anti-money-laundering-automation

Comment: Despite a significant reduction in financing in the fintech industry in 2023, investors' interest in AI based financial crime detection providers has not diminished at all.

Monitoring financial crimes, Israeli AI startup ThetaRay receives $57 million in financing

Recently, Israeli financial technology startup ThetaRay announced that it has received $57 million in financing, led by Portage, and participated by institutions such as Our Crowd and JVP. ThetaRay was founded in 2013 and headquartered in Hod Hasharon. It uses an artificial intelligence solution called Sonar to help customers monitor financial transactions, assist banks and fintech institutions in improving efficiency, and reduce financial crime risks.

Information link:

https://jewishbusinessnews.com/2023/09/06/thetaray-raises-57-million-for-fintech-security/

Self developed vertical model, AIGC automatically generates commercial videos, FancyTech completes nearly 100 million yuan of B-round financing

Recently, FancyTech (Times Emerging) has completed nearly 100 million yuan of B-round financing, led by DCM, and co invested by old shareholders such as Jinshajiang Venture Capital and Huashan Capital. Yuanyi Capital serves as the exclusive financial advisor. This round of financing funds is mainly used for technology research and development and market expansion. Previously, FancyTech completed Pre A and A rounds of financing in 2022.

Information link:

https://36kr.com/p/2416964079739655

Comment: FancyTech Company was established in April 2020, and its entry-level products focus on the field of e-commerce videos. Brand customers only need to authorize FancyTech's e-commerce store account, and the self-developed model will automatically generate product expression videos, including voiceovers, music, subtitles, etc. Additionally, it can automatically tune and continuously improve video quality based on user data feedback.

Swiss Re collaborates with Wysa to launch Wysa Assure

In 2021, Swiss Re announced the establishment of an exclusive partnership with Wysa, a mental health platform, to tailor a health application for the insurance industry.

 

Information link:

https://apps.apple.com/gb/app/wysa-assure/id1672188143

Comment: The two companies have now launched a mental health support application called Wysa Assure, which integrates Swiss Re's risk expertise and proprietary scoring system, as well as Wysa's artificial intelligence mental health solution.

 

Canadian Brokerage Network and Quandri Launch Artificial Intelligence Robots

Canadian Brokerage Network (CBN) and startup Quandri have launched artificial intelligence robots to improve the way CBN brokers work. The robot will save time and money by eliminating duplicate data inputs, making data more accurate, and improving services for insurance clients across Canada.

 

Information link:

https://canadianbrokernetwork.com/canadian-broker-network-launches-first-ai-automation-bot/

Comment: CBN has always been at the forefront of customer-centric industry innovation. This is an exciting step in the modernization process and a great example of how members can empower each other to obtain the necessary solutions, services, scale, and competitive advantages to help ensure the future of independent Canadian brokers.

 

UK pet insurance company enters the US market

Bought By Many, a rapidly developing British insurance technology company, announced the launch of its pet insurance product in the US market. The company name will be consistent with the one used in Sweden: Bought By Many's brand, ManyPets.

 

Information link:

https://manypets.com/uk/brand/

Comment: In early March, ManyPets was launched in Illinois and is currently conducting business layout and promotion nationwide. The insurance product will include unlimited veterinary and dental expenses, as well as an optional pet health plan.

 

Ansheng Launches Intelligent Home Insurance Electronic Voucher

AXA (Hong Kong and Macau) has launched an electronic voucher version of AXA SmartHome Plus family insurance products for AXA Smart Home Plus. In a statement, AXA stated that it has partnered with insurance technology company Wesurance Digital Ltd to achieve the certification of insurance products, aiming to simplify the process of purchasing housing insurance.

 

Information link:

https://www.axa.com.hk/en/home-insurance-protection/

Encouraging the development of green financial technology, Dubai National Bank has launched the "Sustainable Technology" accelerator

At the upcoming 28th UN Climate Conference, the leading banking institution in MENAT (the Middle East, North Africa and Türkiye) - Emirates NBD - announced the launch of an accelerator program with sustainable development as the theme, and invited the world's leading green financial technology companies to jointly create sustainable development financing solutions and processes to support the future of adaptation to climate change.

 

Information link:

https://www.emiratesnbd.com/en

 

The Bank of England releases a report on the fragility of deep learning models and their impact on financial stability

On September 1, 2023, the Bank of England released the working paper 'Deep learning model fragility and implications for financial stability and regulation'. This study demonstrates a method based on network analysis to compare deep learning models. This analysis has a certain impact on the future application of deep learning models and risk management by regulatory agencies.

 

Information link:

https://edu.bankofengland.co.uk/working-paper/2023/deep-learning-model-fragility-implications-for-financial-stability-regulation

 

Bank of Canada Explores the Impact of Quantum Computing on Central Bank Digital Money

Recently, Bank of Canada announced a collaboration with local technology institution evolutionQ to conduct research. It is reported that this study will explore the impact of integrating quantum security encryption methods and encryption agility as digital currency design goals. The code developed during the research period will be released open-source, providing developers and researchers with the opportunity to explore new encryption methods and propose improvements or modifications to accelerate the development of quantum security technology.

 

Information link:

https://www.crowdfundinsider.com/2023/09/212565-evolutionq-engaged-by-bank-of-canada-to-conduct-research-on-quantum-safe-tech-for-virtual-currencies/

 

Colendi approved to become the first digital deposit bank in Türkiye

Recently, Türkiye's financial technology company Coledi was approved by the country's banking regulatory authority and announced the establishment of the country's first digital deposit bank. At present, Colendi has developed into a leading financial technology enterprise in Türkiye, and has successively acquired electronic currency, asset management, capital market and insurance brokerage business licenses in the past 24 months.

Information link:

https://www.colendi.com/

World Economic Forum: Roadmap for Support Measures for Renewable Hydrogen in Europe

The World Economic Forum has released a "roadmap for supporting renewable hydrogen in Europe". The EU promises to reduce greenhouse gas emissions by 55% by 2030 (compared to 1990 levels) and achieve carbon neutrality by 2050. As one of the world's five major energy consuming countries and the world's third largest economy, the EU's transition to net zero emissions is of great significance for global efforts to achieve the goals of the Paris Agreement.

Information link:

http://www.199it.com/archives/1634551.html

SK Ecoplant Canada's Green Hydrogen Project has obtained a state-owned land use permit for wind power generation from the local government

According to Yonhap News Agency on September 3rd, SK Ecoplant stated on the 3rd that its participation in the Canadian green hydrogen project "New Geohonic" has obtained a state-owned land use permit for wind power generation from the Canadian government.

Information link:

https://energynews.biz/canada-approves-land-for-sk-ecoplants-massive-green-hydrogen-venture/

UAE oil giant ADNOC to develop the largest carbon capture project in the Middle East

Abu Dhabi National Petroleum Corporation (ADNOC) has officially decided to invest in the development of the Habshan carbon capture project, which is one of the largest carbon capture projects in the Middle East and North Africa region. ADNOC stated in a statement that the Habshan carbon capture, utilization, and storage project plans to have the ability to capture and permanently store 1.5 million tons of carbon dioxide annually.

Information link:

https://www.adnoc.ae

2023 World New Energy Vehicle Conference held in Munich to create a sustainable supply chain

From September 6th to 7th, the 2023 World New Energy Vehicle Conference was held in Munich. The theme of this conference is "Experience Connected Mobility", focusing on sustainability and the latest mobile technology. Only by taking measures across the entire value chain, covering all stages from production to use, can the carbon footprint of car travel be significantly reduced. Build a sustainable supply chain and jointly promote green innovation and practice.

Information link:

http://auto.cnfol.com/cheshidongtai/20230907/30377079.shtml

The Financial Stability Board and IMF will launch a joint document on global cryptocurrency policy at the G20 summit

Klaas, Chairman of the Financial Stability Board (FSB), recently announced that the FSB and the International Monetary Fund (IMF) will launch a joint document on global cryptocurrency policy at the G20 summit. This document includes a roadmap for implementing a cryptocurrency policy framework, including global coordination, cooperation, and information sharing. This document is submitted at the request of India, the current G20 presidency.

Information link:

https://www.imf.org/en/Research/IMFandG20

South Korea plans to strengthen technology protection for small and medium-sized enterprises

According to statistics from the Patent Office, in 16 patent trials between small and medium-sized enterprises and large enterprises last year, the failure rate of small and medium-sized enterprises reached 56%. In response, some members of Congress have proposed amending relevant laws and raising the upper limit of damages. The congressional legislative investigator stated that a one-stop relief window for technology plunder cases should be established, with clear standards for calculating the amount of technology losses and strengthening the technological protection capabilities of small and medium-sized enterprises.

Information link:

http://kr.mofcom.gov.cn/article/jmxw/202309/20230903438041.shtml

India National Payment Company Recruitment for Blockchain Supervisor

The National Payment Corporation of India (NPCI) is an initiative led by the Reserve Bank of India (RBI) and 247 Indian banking companies. At present, the institution is seeking an experienced blockchain technology expert to lead and study the opportunities of blockchain in today's payment field.

Information link:

https://www.linkedin.com/pulse/npci-introduced...

The Australian Senate Economic Legislative Committee submits the Digital Assets (Market Regulation) Bill

According to Foresight News, the Australian Senate Economic Legislative Committee has officially submitted the Digital Assets (Market Regulation) Act 2023. The bill aims to implement a digital asset licensing system and establish reporting requirements for the circulation of the Bank of Australia's Digital Currency (CBDC).

Information link:

https://foresightnews.pro/news/detail/28944

Nobel Laureate Chairman Le Talking about China's Wealth Management Practice: Combining Advanced Financial Technology with Behavioral Finance Picture

On September 8th, the Wealth Management Industry Forum of the Bund Conference was held in Shanghai, focusing on the theme of "New Technologies and Ecosystems for Wealth Management in the Digital Economy Era". Nobel laureate in economics and Professor of Stirling Economics at Yale University, Robert Schiller, also expressed his concern for China's wealth management practices. He believes that China and the United States are at a similar stage, both adopting advanced financial technology, combining behavioral finance and psychological research, paying attention to investor psychology, and guiding rational investment. "We must consider the risk of speculative foam, strengthen investor education, and let some people have more risk management perspectives, not just to invest by luck."

Information link:

https://bbs.pinggu.org/anliku/jrx/7663.html

Hong Kong plans to restart investment immigration, with a suggested threshold increase to HKD 30 million

Eight years later, in the context of Hong Kong Chief Executive Li Jiachao's proposal to "seize enterprises and talents", the SAR government has re proposed the investment immigration plan. On August 18th, members of Legislative Council G19 met with Chief Executive Li Jiachao and submitted multiple joint initiatives on the 2023 Policy Address, including the market focused Hong Kong investment immigration - proposing a threshold of HKD 30 million for Hong Kong investment immigration.

Information link:

http://stock.hexun.com/2023-02-22/207838774.html

Wuhua Court Accepts the First Case of Designated Estate Administrator and Issues the First Judicial Recommendation Image

Recently, the Wuhua Court heard the first new type of application for the appointment of an estate administrator. This case applies special procedures in accordance with the law, designating the Wuhua District Civil Affairs Bureau of Kunming City as the estate administrator of the deceased. This case is the first time that the Wuhua Court has designated a civil affairs department as the estate administrator since the implementation of the Civil Code of the People's Republic of China.

Information link:

Www.thepaper.cn

2023 Global Family Office Salary Benchmark Report released

Recently, KPMG collaborated with Agreus Group to produce the "2023 Global Family Office Salary Benchmark Report", which provides quantitative and qualitative insights into composition and salary structure, as well as highly focused benchmark data.

Information link:

https://tax.kpmg.us/services/renewables-energy-group.html

Under the AI craze, Anguilla is expected to earn $30 million in revenue through the ". ai" domain name

Anguilla was originally a small island in the Caribbean Sea, belonging to British territory. Since the 1990s, it has had the top-level domain name ". ai" (country and region). Anguilla expects to earn up to $30 million in revenue with its ". ai" domain name.

Information link:

https://arstechnica.com/information-technology/2023/08/ai-fever-turns-anguillas-ai-domain-into-a-digital-gold-mine/

Federal Reserve issues a warning on risks in Goldman Sachs' fintech sector

According to the Financial Times, a division of Goldman Sachs Trading Banking (TxB) has stopped accepting higher risk fintech clients after receiving a warning from the US Federal Reserve. The Financial Times quoted sources as saying that the Federal Reserve's move is due to concerns about Goldman Sachs' insufficient due diligence and monitoring procedures when accepting high-risk non bank clients.

Information link:

https://finance.sina.com.cn/stock/usstock/c/2023...

Deutsche Bank may initiate investment negotiations with Scalable Capital, a digital investment platform

According to the German newspaper Business Daily, Deutsche Bank, Germany's largest banking institution, is in early negotiations with Scalable Capital, a digital investment and brokerage platform, regarding potential investment or cooperation agreements. At present, neither party has confirmed this news

Information link:

https://www.fintechfutures.com/2023/09/deutsche-bank-reportedly-makes-contact-with-digital-investment-fintech-scalable-capital/

Harvard University School of Arts and Sciences introduces generative AI tools such as ChatGPT into the classroom

Harvard Crimson, a website owned by Harvard University, recently announced that the School of Arts and Sciences has released guidelines for professors to use generative AI such as ChatGPT in their courses for the first time. This guide is published by the Office of Undergraduate Education at Harvard University and provides a series of information on the working principles of generative AI and its previous academic applications.

Information link:

https://www.thecrimson.com/

Disclaimer: The content is from the Internet, WeChat official account and other public channels. We are neutral about the points in the article. This article is only for reference and exchange.