Category: Fintech

AICybersecurityFintech

AI Fraud Prevention Market Expands as Deepfake Threats Surge 704%

Deepfake attacks bypassing identity verification have increased by 704% according to recent threat intelligence. The global AI fraud detection market is projected to reach $31.69 billion by 2029 as organizations seek advanced protection.

AI Fraud Epidemic Sparks Defense Innovation

The rapid escalation of artificial intelligence-enabled fraud is driving unprecedented growth in the prevention market, with analysts suggesting the global AI fraud detection sector could reach $31.69 billion by 2029. This expansion comes as reports indicate deepfake attacks designed to bypass identity verification systems have surged by 704% according to iProov’s 2024 Threat Intelligence Report.

by Samuel Kim
AIBusinessFintech

Fintech Leader Dismisses AI Hype, Says Customers Only Care About Solutions

In a refreshing counter to industry trends, Nubank’s CEO states customers are indifferent to AI implementation. The $50 billion fintech giant focuses instead on seamless banking experiences and real-world solutions through strategic technology use.

Customer-Centric Approach Over AI Marketing

In an industry increasingly obsessed with artificial intelligence branding, Nubank CEO Livia Chanes is taking a contrarian stance that appears to be driving remarkable growth. According to reports from the Fortune Most Powerful Women Summit, Chanes declared that customers “don’t care if it’s AI-enabled or not” and instead “just want to have the best experience possible.”

by Samuel Kim
BusinessFintech

Gennius XYZ Partners With Thredd to Power Global Loyalty Currency Expansion

Gennius XYZ has announced a strategic partnership with payment processor Thredd to accelerate its global expansion. The collaboration will enable instant virtual card issuance and transform loyalty points into spendable currency across millions of merchants worldwide, according to company statements.

Strategic Partnership Accelerates Global Payment Innovation

Financial technology company Gennius XYZ has selected Thredd as its global issuer-processor partner to support significant international expansion, according to reports. The partnership, announced in an October 20 press release, will reportedly enable Gennius XYZ to launch instant virtual card issuance and advance multi-currency loyalty innovations across new markets.

by Samuel Kim
AIFintech

Visa Navigates AI Shopping Revolution Transforming E-Commerce Landscape

The e-commerce sector is bracing for a fundamental transformation as AI-powered shopping agents prepare to revolutionize how consumers make purchases online. Industry analysts suggest this shift could be as disruptive as the original move from physical stores to digital marketplaces, with payment processors like Visa working to ensure secure implementation.

The Rise of Automated Shopping Agents

The e-commerce landscape is undergoing its most significant transformation since the inception of online retail, with artificial intelligence poised to fundamentally alter how consumers shop. According to U.S. Census Bureau data cited in recent reports, Americans purchased more than $3.3 billion worth of items online daily during the second quarter of last year, demonstrating the massive scale of the market now facing disruption.

by Priya Kapoor