Artificial Intelligence Bank-in-Messenger raises $1million from IIDF and private investors
The very first “Bank-in-Messenger”- TalkBank.io has raised $1million in seed investments with a company valuation of $6.1million. IIDF and 7 private investors, including Mark Malinovsky (kuponator.ru) have funded the start up.
The startup product is an AI based chatbot with remote identification. Instead of mobile applications and internet banking, all money management, including activation, blocking and unblocking of cards, and free of charge transfers in TalkBank are handled by chatbots, intellectual robot assistants, using text messages. The startup uses machine learning technologies which recognize users’ speech and forecasts responses.
Mikhail Popov – founder of TalkBank.io says: “Clients shall benefit from their banks and deserve fair, friendly banking services, with no fees and necessity to contact call centers. That’s why we – the TalkBank team- created the robot bank. Investors’ support will certainly allow us to offer services to wider population in Russia and abroad. The funds we raised will be allocated to attracting new clients, developing technological platforms for banks and partners and to launching pilots with banks abroad”.
Bottomline Technologies Embraces New Standards
Bottomline Technologies, a provider of financial technology that helps make complex business payments simple, smart and secure, is at the forefront of helping organizations of all sizes take advantage of the new and evolving payment regulations in the UK, Europe, and beyond.
Bottomline announces its commitment to becoming a Third Party Provider (TPP) under the Open Banking initiative, allowing its customers to access information and initiate payments directly with participating banks through secure Application Programming Interfaces (APIs), via its cloud-based payment platform.
Open Banking is an initiative driven by U.K. regulators to improve competition and innovation in the payments industry.
“Open Banking will change the market radically for UK payments,” said Nigel Savory, Managing Director, Global Business Solutions, Bottomline Technologies.
ICBC (London) plc chooses to extend AxiomSL deployment to support Trade & Transaction Reporting
AxiomSL announces that Industrial and Commercial Bank of China (ICBC) (London) plc has selected AxiomSL’s strategic platform for its Markets in Financial Instruments Directive II (MiFID II) transaction reporting solution.
This is the third time ICBC (London) plc has expanded its use of AxiomSL’s platform, which can be used to comply with multiple regulatory calculation and reporting requirements globally. The bank began using the platform in 2013 to run its Basel capital calculations and for reporting to the Prudential Regulation Authority (PRA) and Bank of England (BOE). In 2014, it expanded its deployment of the platform to comply with the transaction reporting requirements of the European Market Infrastructure Regulation (EMIR).
ICBC (London) plc will roll out AxiomSL’s solution across trade and transaction reporting regimes, including MiFID II and the updated EMIR Regulatory Technical Standards (RTS). The ability to use the same platform for multiple regulatory reporting requirements ensures consistency between the data that is submitted to different regulators and results in greater efficiency.
BNPP launches triparty collateral platform
BNP Paribas Securities Services, a custodian with USD 10 trillion in assets under custody, is introducing a triparty collateral management service that connects collateral takers and collateral givers and helps unlock liquidity pools.
The move comes as new regulations and practices require market participants to collateralise their financing and OTC derivative trades to manage counterparty risk. This is prompting market participants to look for sophisticated collateral management solutions, which enable them to mobilise their assets quickly and use a wider range of securities to back up their trades.
Patrick Colle, General Manager of BNP Paribas Securities Services, said:
“BNP Paribas Securities Services has a strong and diversified client base, which puts us in an ideal position to ease the circulation of collateral between buy and sell-side market participants as well as central clearing counterparties – something that few collateral platforms do today. Our objective is to create a community of collateral takers and collateral givers to develop a comprehensive pool of liquidity and remove bottlenecks in the sourcing of collateral.”
