As artificial intelligence becomes one of the most popular buzzwords circulating in tech and business circles, one thing is frequently overlooked — the human cost. Although artificial intelligence is expected …

Bank of Scotland, a subsidiary of Lloyds Banking Group, has launched a pilot artificial intelligence project – a virtual agent for 50,000 customers that use the Bank’s iPhone app. The …

Herman Gref, head of Sberbank, outlined five key areas for the use of artificial intelligence while speaking at the ‘Open Innovations’ forum: Customer-interaction bots — as artificial intelligence learns, it …

Vikram Pandit, former head of Citigroup financial corporation, believes that, in the next five years, automation, artificial intelligence and machine learning are expected to significantly reduce the need for human …

Swedish commercial bank Nordea has engaged Estonian startup Feelingstream to develop and test artificial intelligence that is capable of analyzing customer text messages and distributing them to the appropriate sections …

HSBC Bank, one of the largest in the world, has engaged an American artificial intelligence startup, Ayasdi, to develop technology to automate banking investigations into money laundering. Once developed, the …

Sberbank and Alfa-Bank have made the first banking payment transaction in Russia using blockchain technology. On November 28, 2017, Megafon transferred RUB 1 million from an account with Alfa-Bank to …

British company Revolut is working to ensure that its customer can buy and store cryptocurrencies in their accounts. The company was initially created to allow customers to easily exchange traditional …

Uport, a self-sovereign identity and user-centric data platform on the Ethereum blockchain, has made its platform available to the citizens of Zug, Switzerland. Registration on the blockchain, which requires verification …

Air New Zealand has partnered with Swiss startup Winding Tree to explore blockchain technology for a number of potential uses, including retail airfares, cargo and baggage tracking, securing information and …

Mastercard has tested and validated its own blockchain and will be opening access to it via a set of three APIs published on the Mastercard Developers website. The APIs include …

M.Video (Russia’s largest consumer electronic retailer), Sberbank Factoring and Alfa-Bank have launched an open consortium aimed at the commercial use of blockchain-based technologies in the financial sector. The new platform …

The head of the International Monetary Fund (IMF), Christine Lagarde, believes that bitcoin and other cryptocurrencies do not pose a threat to central banks and traditional currencies. Moreover, she has …

Markswebb has prepared the Mobile Banking Rank CIS 2017. The study evaluated 86 mobile applications of 41 banks on both iPhone and Android devices, evaluating how easily users can manage …

The Efma–Accenture Banking Innovation award program is an initiative program aimed at identifying and awarding the most innovative projects in retail banking at a global level. The program, now in …

Financial institutions are becoming more client-focused than ever before. And open banking is providing banks with the means and opportunities to reorganize their products and services in accordance with the …

Germany’s Commerzbank has developed a multi-channel approach to providing support to its customers, using digital solutions for simple daily operations and establishing a trusting relationship with customers at the same …

1991 Open Data Incubator, the National Bank of Ukraine and OTP Bank JSC have announced the launch of a joint incubation program for OpenTechnology start-ups called Open Banking Lab. The …

Alfa-Bank, like many banks in Russia, is undergoing a digital transformation. The bank has divided this transformation into two main areas: customer-related and internal. Digitalization related to customer experiences includes …

According to a survey conducted by audit and consulting company EY, Russia is third among the top 20 largest world markets in terms of the penetration of financial and technological …