AI-driven fintechs have been top recipients of venture capital funding in 2025, attracting $7.2 billion out of $44.7 billion of total global fintech funding during the first half of the year. Payments fintech were next, grabbing $4.2 billion of funding, or 9.4%, during the same period, according to KPMG’s Pulse of Fintech report, published in […]
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AI-driven fintechs have been top recipients of venture capital funding in 2025, attracting $7.2 billion out of $44.7 billion of total global fintech funding during the first half of the year. Payments fintech were next, grabbing $4.2 billion of funding, or 9.4%, during the same period, according to KPMG’s Pulse of Fintech report, published in […]
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NEW YORK — Financial institutions are diving headfirst into gen AI but University of Michigan Credit Union hasn’t seen much in terms of its return on investment. Amid financial institution hype around gen AI, “the ROI is not that great,” Sherry Wu, chief technology officer at University of Michigan Credit Union, said at FinovateFall 2025 […]
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NEW YORK – University of Michigan Credit Union is building an AI-driven loan origination system to speed the loan application process and, in turn, boost revenue. The $1.3 billion credit union is innovating with AI and identifying uses for the technology to generate better returns, Sherry Wu, chief technology officer at University of Michigan Credit […]
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Banks and investors are evaluating AI-driven startups for long-term growth opportunities. “Investors are keeping close tabs on AI-related innovation,” Isaiah Payne, managing director at investment banking firm Jackson Payne Investments, told Bank Automation News at Finovate Fall 2024. Global AI funding hit a record high in the second quarter with a 59% increase quarter […]
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NEW YORK — KeyBank is hesitant to join the Federal Reserve’s real-time payments network FedNow until the payments rail shows some growth. The $184 billion bank wants FedNow to reach 5% of demand deposit accounts (DDA) before joining the payment network. DDAs allow deposited funds to be withdrawn at any time, Jon Briggs, head of […]
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Fintech valuations and funding rounds had a tough year in 2023 as high interest rates pushed investors into capital conservation mode. In 2023, “VCs were just trying to protect their own portfolios and be cautious with their investments,” Robin Scher, head of fintech investment at Lloyds Bank, said at FinovateEurope last month. “Fintechs that raised […]
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Banks are looking for ways to monetize the sharing of consumer data as open banking regulations are passed across the globe. Open banking pushes banks to collaborate with fintechs to share consumer data without friction, Matthijs van Voorst, strategic partnership director at the Netherlands-based $380 billion ABN AMRO Bank, said at the recent FinovateEurope event, noting […]
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Lloyds Bank is looking to invest in cybersecurity and technology related to insurance and regulatory monitoring in 2024 amid uncertain macroeconomic conditions. “I like regtech because it’s important to keep on innovating in that space,” Robin Scher, head of fintech investment at Lloyds Bank, said at FinovateEurope last week. “We are also looking at cybersecurity […]
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Whitney McDonald
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Joey Pizzolato
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Joey Pizzolato
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Brian Stone
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