Scottish Fintech Aveni secures £2.75m investment to expand market reach of its conversational intelligence platform, Aveni Detect
Scottish AI company Aveni.ai has secured an investment of £2.75 million to deliver the expansion of its Aveni Detect platform.
Debt resolution company Ophelos announce they have partnered with ethical consumer lender Plend to help improve financial inclusion.
UK student finance fintech StepEx has raised £1.1 million in pre-initial funding, with the venture studio BBVA Anthemis Venture Partnership being the lead investor.
Fintern is aiming to shake up the market for low-value consumers loans with the launch of credit technology that bypasses credit scores.
Aviva is eyeing acquisitions in artificial intelligence and big data as it looks to overhaul the insurance industry and transform itself into a fintech firm. Chief executive Mark Wilson said the 321-year-old insurance giant had built a good balance sheet and was primed to use it to ensure the business remains a step ahead of its rivals. Speaking at Aviva’s “digital garage” in Hoxton, East London, Mr Wilson said the insurer’s innovation projects had attracted calls from “big names in Silicon Valley” and helped seal a lucrative deal with Tencent, a 300 billion US dollar Chinese technology firm. He said: “I don’t mean billions, but we will do acquisitions if […]
Fintech platform revenues for unsecured consumer loans issued using machine learning technology are set to jump by a whopping 960% globally over the next six years, according to new research from Juniper. According to the latest report on the worldwide Fintech market from Juniper Research, revenues will rise to US$17 billion by 2021, with spending advancing rapidly due to the highly data-driven nature of the market, “meaning that AI integration is likely to spell substantial benefits”. Juniper says that until recently, machine learning was too expensive and computationally time-intensive to break into the mainstream, while access to extensive data sets for algorithm training were limited. Research author Steffen Sorrell says […]