Fintech
AI-Powered FinTech: The Key to Intelygenz’s Banking Success
Chris, you’ve had a dynamic journey in the technology industry that led to your role as President of Intelygenz USA. Can you tell us how your experiences have shaped your vision for Intelygenz in the banking and fintech industries?
Absolutely! My career in technology has always been driven by a passion for transformative solutions that address real-world challenges. This path led me to Intelygenz, where our mission perfectly aligns with my vision: to harness the power of AI and deep technology to disrupt banking and fintech.
Our goal is not only to create innovative solutions, but also practical results that guarantee a substantial return on investment, simplifying operations and improving customer interactions.
As President, what excites you most about your role at Intelygenz and what are the challenges you face every day to maintain the company’s competitive edge?
As President, the most exciting aspect of my role at Intelygenz is witnessing the tangible impact our technologies have on our customers’ success. It is deeply gratifying to see how our solutions enable them to rapidly overcome complex challenges. The primary challenge we face is the need to constantly improve our technological capabilities to keep pace with rapidly changing market conditions. This ensures that we consistently deliver the most effective and innovative solutions.
A critical component of our past success and a cornerstone of our future ambitions is our unwavering commitment to recruiting, training and retaining the best talent in advanced technology and AI. Our team of over 400 technology experts is essential to our core value proposition, enabling us to rapidly address complex problems and deliver significant ROI to our clients.”
With 85% of AI projects failing to move from development to production, Intelygenz stands out for its rapid AI deployment and focus on delivering projects to production in just weeks, generating tangible ROI for companies. Can you explain how this capability uniquely positions you to solve critical industry challenges?
Our deep tech innovation is specifically designed to elevate banking and fintech operations by focusing on both the technology and business needs of our clients. By working closely with our clients’ teams, we ensure that our solutions not only integrate seamlessly, but also deliver rapid operational improvements.
This approach allows us to effectively address and solve key challenges, such as improving risk management and customer experience.
Getting a quick ROI is critical for your clients. Can you discuss your strategy to deliver tangible benefits within a few weeks?
Our strategy focuses on integrating AI solutions that are both scalable and have immediate impact. Using agile methodologies and continuous delivery, we are able to deliver solutions that begin generating value in a matter of weeks. This rapid ROI is critical to maintaining momentum and achieving long-term success in the rapidly evolving financial industry.
As core banking services evolve, how does Intelygenz help banks and fintechs leverage advanced infrastructure on a global scale?
We help our clients navigate the complexities of digital transformation by providing cutting-edge AI and machine learning solutions that enhance their core banking services.
Our global expertise enables us to effectively deploy these technologies across multiple markets, providing our customers with the benefit of robust, scalable infrastructure that supports their growth and adaptability.
Given the high failure rate of AI projects across the industry, how does Intelygenz ensure a successful transition from development to production?
Our success lies in our rigorous testing and validation processes, coupled with our collaborative approach with customer teams. By engaging in continuous feedback loops and adapting quickly, we ensure that AI projects not only move seamlessly to production, but also align seamlessly with business goals and user needs.
We have spent the last 20 years developing methodologies that enable us to develop and implement deep tech and AI projects successfully and quickly. This is a clear unique value proposition for us. We call it our Day Zero Promise. On day zero we bring 20 years of deep tech experience (10 specifically with AI) developing and implementing projects for the company.
In an age where technology often replaces manual labor, how important is it for Intelygenz to enhance human labor rather than replace it?
At Intelygenz, we believe that technology should augment, not replace. We are committed to improving human work through “human in the loop” AI solutions. These are specifically designed to augment human capabilities, not replace them. By integrating AI in this way, we enable our clients’ workforce to shift their focus to more strategic and creative activities. This synergy between human and AI doesn’t just increase productivity; it cultivates an innovative work environment where technological advancement supports human ingenuity and entrepreneurship.
Looking ahead, what are Intelygenz’s growth plans over the next 12-18 months, especially given your broad range of services designed to support organizations at all levels of maturity?
Over the next year and a half, Intelygenz is set to expand its reach into the financial services industry and explore new areas where our expertise in AI and advanced technology can have a significant impact.
Our growth strategy is supported by our strong value proposition, designed to support organizations at every stage of their data and AI journey.
Our AI Academy equips teams with the skills to effectively leverage AI, ensuring they are proficient in the latest technologies and methodologies. For customers looking for out-of-the-box solutions, our Packaged Solutions offer fast and efficient integration, allowing them to see immediate benefits.
For more customized needs, our custom solutions are designed from the ground up to address specific challenges, ensuring that the solutions are perfectly aligned with our clients’ unique business goals.
These services, collectively, enable our customers to fully leverage the potential of AI, driving innovation and efficiency. As we move forward, we will continue to refine these offerings and introduce new advancements to help our customers stay ahead of the curve in a rapidly evolving marketplace.
*************
Be sure to check out the latest edition of FinTech Magazine and also sign up for our global conference series – FinTech LIVE 2024
*************
FinTech Magazine it’s a BizClick brand
Fintech
Lloyds and Nationwide invest in Scottish fintech AI Aveni
Lloyds Banking Group and Nationwide have joined an £11m Series A funding round in Scottish artificial intelligence fintech Aveni.
The investment is led by Puma Private Equity with additional participation from Par Equity.
Aveni creates AI products specifically designed to streamline workflows in the financial services industry by analyzing documents and meetings across a range of operational functions, with a focus on financial advisory services and consumer compliance.
The cash injection will help fund the development of a new product, FinLLM, a large-scale language model created specifically for the financial sector in partnership with Lloyds and Nationwide.
Joseph Twigg, CEO of Aveni, explains: “The financial services industry doesn’t need AI models that can quote Shakespeare, it needs AI models that offer transparency, trust and, most importantly, fairness. The way to achieve this is to develop small, highly tuned language models, trained on financial services data, vetted by financial services experts for specific financial services use cases.
“FinLLM’s goal is to set a new standard for the controlled, responsible and ethical adoption of generative AI, outperforming all other generic models in our selected financial services use cases.”
Robin Scher, head of fintech investment at Lloyds Banking Group, says the development programme offers a “massive opportunity” for the financial services industry by streamlining operations and improving customer experience.
“We look forward to supporting Aveni’s growth as we invest in their vision of developing FinLLM together with partners. Our collaboration aims to establish Aveni as a forerunner in AI adoption in the industry, while maintaining a focus on responsible use and customer centricity,” he said.
Fintech
Fairexpay: Risk consultancy White Matter Advisory acquires 90% stake in fintech Fairexpay
Treasury Risk Consulting Firm White Matter Alert On Monday he announced the acquisition of a 90% stake in the fintech startup Fair payment for an undisclosed amount. The acquisition will help White Matter Advisory expand its portfolio in the area of cross-border remittance and fundraising services, a statement said. White Matter Advisory, which operates under the name SaveDesk (White Matter Advisory India Pvt Ltd), is engaged in the treasury risk advisory business. It oversees funds under management (FUM) totaling $8 billion, offering advisory services to a wide range of clients.
Improve your technology skills with high-value skills courses
IIT Delhi | Data Science and Machine Learning Certificate Program | Visit |
Indian School of Economics | ISB Product Management | Visit |
MIT xPRO | MIT Technology Leadership and Innovation | Visit |
White Matter Advisory, based in Bangalore, helps companies navigate the complexities of treasury and risk management.
Fairexpay, authorised by the Reserve Bank of India (RBI) under Cohort 2 of the Liberalised Remittance Scheme (LRS) Regulatory Sandbox, boasts features such as best-in-class exchange rates, 24-hour processing times and full security compliance.
“With this acquisition, White Matter Advisory will leverage Fairexpay’s advanced technology platform and regulatory approvals to enhance its services to its clients,” the release reads.
The integration of Fairexpay’s capabilities should provide White Matter Advisory with a competitive advantage in the cross-border remittance and fundraising market, he added.
The release also states that by integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and convenient cross-border payment solutions, providing customers with secure options for international money transfers.
Fintech
Rakuten Delays FinTech Business Reorganization to 2025
Rakuten (Japan:4755) has released an update.
Rakuten Group, Inc. and Rakuten Bank, Ltd. announced a delay in the reorganization of Rakuten’s FinTech Business, moving the target date from October 2024 to January 2025. The delay is to allow for a more comprehensive review, taking into account regulatory, shareholder interests and the group’s optimal structure for growth. There are no anticipated changes to Rakuten Bank’s reorganization objectives, structure or listing status outside of the revised timeline.
For more insights on JP:4755 stock, check out TipRanks Stock Analysis Page.
Fintech
White Matter Advisory Acquires 90% Stake in Fintech Startup Fairexpay
You are reading Entrepreneur India, an international franchise of Entrepreneur Media.
White Matter Advisory, which operates under the name SaveDesk in India, has announced that it is acquiring a 90% stake in fintech startup Fairexpay for an undisclosed amount.
This strategic move aims to strengthen White Matter Advisory’s portfolio in cross-border remittance and fundraising services.
By integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and convenient cross-border payment solutions, providing customers with secure options for international money transfers.
White Matter Advisory, known for its treasury risk advisory services, manages funds under management (FUM) totaling USD 8 billion.
Founded by Bhaskar Saravana, Saurabh Jain, Kranthi Reddy and Piuesh Daga, White Matter Advisory helps companies effectively manage the complexities of treasury and risk management.
The SaveDesk platform offering includes a SaaS-based FX market data platform with real-time feeds for over 100 currencies, bank cost optimization services, customized treasury risk management solutions, and compliance guidance for the Foreign Exchange Management Act (FEMA) and other trade regulations.
Fairexpay is a global aggregation platform offering competitive currency exchange rates from numerous exchange partners worldwide. Catering to both private and corporate customers, Fairexpay provides seamless money transfer solutions for education, travel and immigration, as well as simplifying cross-border payments via API and white-label solutions for businesses. Key features include competitive currency exchange rates, 24-hour processing times, extensive currency coverage of over 30 currencies in more than 200 countries, and secure, RBI-compliant transactions.
-
DeFi6 months ago
Switchboard Revolutionizes DeFi with New Oracle Aggregator
-
Fintech9 months ago
Fintech unicorn Zeta launches credit as a UPI-linked service for banks
-
DeFi8 months ago
👀 Lido prepares its response to the recovery boom
-
News6 months ago
Latest Business News Live Updates Today, July 11, 2024
-
DeFi6 months ago
Is Zypto Wallet a Reliable Choice for DeFi Users?
-
Fintech6 months ago
FinTech LIVE New York: Mastercard and the Power of Partnership
-
News8 months ago
Salesforce Q1 2025 Earnings Report (CRM)
-
DeFi6 months ago
Ethena downplays danger of letting traders use USDe to back risky bets – DL News
-
News8 months ago
Think Finance Loan Repayment Scam Victims to Get $384 Million
-
ETFs9 months ago
Gold ETFs see first outing after March 2023 at ₹396 cr on profit booking
-
Videos8 months ago
“We will enter the ‘banana zone’ in 2 WEEKS! Cryptocurrency prices will quadruple!” – Raoul Pal
-
Videos9 months ago
PREPARE! Millions of People Will Buy Bitcoin When the “ULTIMATE COLLAPSE” Begins in 2024 – Larry Lepard