Latest from Finextra
Finextra
5 hours ago
- Business
- Finextra
Finmo releases AI co-pilot for treasury teams
Finmo has launched MO AI Co‑Pilot, a conversational AI assistant designed to revolutionize how treasury teams manage financial operations. 0 From real-time cash visibility to forecasting and global payments, MO AI co‑pilot acts as an intelligent partner for finance professionals. MO AI enables finance professionals to handle complex, multi-entity, multi-currency workflows using simple, natural language. From retrieving account balances and initiating transactions to analysing cross-border payments and generating reports, MO AI delivers instant, contextual responses, transforming fragmented workflows into a unified, real-time experience. David Hanna, CEO, Finmo said, 'MO AI reflects the kind of meaningful innovation we aim for at Finmo - solving real-life treasury challenges with intelligent, usable tech. Our team has combined automation, AI, and deep financial insight to deliver tools that empower finance professionals to operate more strategically.' At the core of MO AI is a custom-built architecture that goes beyond traditional AI assistants. It combines real-time data integration, contextual financial understanding, and action execution via Finmo's proprietary Model Context Protocol. This foundation enables MO AI Co‑Pilot to interpret finance-specific language, support enterprise-grade authorisation flows, and securely execute transactions with full traceability. Raj Vimal Chopra, Co-founder & Chief Technology Officer, Finmo said 'We built MO AI as a domain-specific AI system to tackle the operational complexities of global treasury management. By fusing generative AI, advanced large language models (LLMs), and Finmo's high-fidelity treasury infrastructure, MO delivers deep intelligence with real-world utility. It understands treasury nuances, enforces strict access controls, and executes real-time actions with full auditability, ensuring security, compliance, and explainability at every step' Unlike generic AI applications, MO AI was trained on years of real financial transaction data and decision-making patterns. Its foundation blends generative AI with domain specific intelligence to respond to the pace and precision finance teams require. The MO AI co-pilot enhances day-to-day treasury workflows by automating tasks like payment approvals and forecasting. Akhil Nigam, Co-founder & Chief Product Officer, Finmo said 'We build products to solve real treasury problems. MO AI has been designed to think like a CFO function. It's built to understand the urgency, structure, and decision logic behind every action. Our goal was to move beyond automation and create an intelligent partner; one that helps finance teams shift from reactive to proactive execution.' As finance operations grow more complex, the MO AI co-pilot is positioned to be the intelligent companion treasury teams need. Finmo sees MO AI as a foundational leap toward a new era of intelligent finance. The roadmap includes predictive capabilities aligned with market conditions, complete workflow automation, integrations across the financial tech stack, and adaptive learning tailored to individual user roles. By shifting from static reporting to intelligent decision-making, MO AI Co‑Pilot positions finance teams to lead strategically in a dynamic, global economy.
Finextra
5 hours ago
- Business
- Finextra
Arab Bank Switzerland to launch yield-bearing bitcoin product wor HNW clients
XBTO, a global leader in institutional digital asset management, today announced a strategic partnership with Arab Bank Switzerland that will enable the Swiss private bank to launch a sophisticated Bitcoin yield product for its wealth management clients. 0 The collaboration leverages XBTO's proprietary "Diamond Hands" strategy to provide Arab Bank Switzerland's clientele with an actively managed approach to generating yield on their Bitcoin holdings. The partnership addresses growing client demand for yield-generating cryptocurrency products within a comprehensive regulatory framework and institutional oversight structure. This offering will be branded as an "Arab Bank Switzerland product powered by XBTO," preserving established client relationships while expanding investment capabilities through proven institutional digital asset management expertise. "Today's announcement marks a significant milestone in our strategy to work with leading traditional financial institutions," said Karl Naim, Chief Commercial Officer and General Manager for UAE at XBTO. "Arab Bank Switzerland's six-year digital asset infrastructure development, combined with direct client demand for Bitcoin yield products, created the perfect foundation for this collaboration." Arab Bank Switzerland, which has offered Bitcoin custody services through its partnership with Taurus since 2019, identified a specific gap in their digital asset offerings. While the bank provided custody and loan-to-value lending against Bitcoin, high-net-worth clients specifically requested active yield-generating opportunities. "We have seen growing demand from our wealth management clients for ways to generate yield on their Bitcoin holdings within a properly managed risk framework," said Romain Braud, Head of Digital Assets at Arab Bank Switzerland. "This collaboration will position Arab Bank Switzerland as the first traditional Swiss private bank to offer an integrated, bank-branded Bitcoin yield product,while maintaining the personal relationship and fiduciary care clients expect from private banking.' XBTO's "Diamond Hands" strategy employs an options-based methodology designed to generate yield while strategically accumulating Bitcoin during market opportunities. The approach uses existing Bitcoin holdings as collateral for options transactions, generating premiums while positioning for accumulation during market pullbacks. "The maturation of institutional digital asset demand requires sophisticated solutions that go beyond simple exposure," said Javier Rodriguez-Alarcon, Chief Investment Officer and Head of Asset Management at XBTO. "This partnership demonstrates how established wealth managers can integrate crypto solutions while maintaining fiduciary responsibility through rigorous risk management and institutional oversight. Our approach prioritizes capital preservation and consistent yield generation over speculative trading." The collaboration sets a precedent for traditional financial institutions seeking to offer structured, compliant cryptocurrency products within existing client relationships rather than directing clients to external providers. With regulatory frameworks maturing and institutional demand accelerating globally, this partnership is expected to serve as a model to drive similar collaborations across the wealth management sector, positioning both firms at the forefront of the digital asset integration into traditional finance.
Finextra
5 hours ago
- Business
- Finextra
Experian signs 10-year cloud deal with Amazon Web Services
Amazon Web Services, Inc. (AWS), an Inc. company (NASDAQ: AMZN), today announced that Experian, a global data and technology company, is embarking on the next phase of its cloud migration and has selected AWS as its preferred cloud. 0 By leveraging AWS's advanced cloud capabilities, Experian can provide faster, more scalable solutions that empower clients with deeper insights and more secure data services. Experian's cloud first strategy, in partnership with AWS, accelerates innovation by enhancing performance, scalability, and reliability, while enabling the company to better serve its clients with innovative products and solutions. By migrating off mainframe computers and moving multiple on-premises servers to the cloud, Experian is able to centralize its technology platforms in the cloud and use its data to drive deeper insights and predictive capabilities. Leveraging AWS's robust infrastructure, Experian can quickly adapt to evolving client needs, ensuring secure and efficient data handling. As part of this new 10-year strategic agreement, Experian has selected AWS as their strategic partner for generative artificial intelligence (AI), developing more than 100 generative AI use-cases. This collaboration will drive operational efficiency, democratize data technologies for employees, and develop new credit and financial analytics offerings. With the integration of generative AI, Experian is streamlining the complex process of database migrations, automating and optimizing the transfer of vast datasets, reducing downtime, improving data accuracy, and further solidifying its position as a leader in the global data and technology industry. 'AWS is delighted to partner with Experian to unlock opportunities that drive innovation, increase agility, and accelerate their modernization,' said Scott Mullins, Managing Director, Worldwide Financial Services at AWS. 'As they build intelligent data platforms, develop cutting-edge applications with generative AI, and gain real-time insights, Experian is demonstrating how organizations can reinvent their operations while maintaining security, compliance, and resilience at scale." "Our initial migrations gave us enhanced performance, security, and reliability, making it an easy choice to take that a step farther and embrace a cloud-first strategy," said Rodrigo Rodrigues, Chief Technology Officer at Experian. "Having our data readily available in the cloud sets us up to invest in new capabilities like generative AI and advance products and solutions for our clients with proven security. By moving to AWS, we've reduced our data processing time by 60%, improved our ability to launch new products from months to weeks, and can now analyze credit data in real-time to better serve our customers." By leveraging AWS's robust security controls and advanced threat detection and mitigation capabilities, Experian can ensure the highest levels of data protection and regulatory compliance. Together, Experian and AWS are committed to creating transformative experiences that benefit both businesses and consumers, fostering growth, trust, and innovation across the digital landscape.
Finextra
5 hours ago
- Business
- Finextra
Axis Bank introduces NFC-enabled smartwatch
In a strategic leap into wearable fintech, Axis smartwatch payments just became more seamless. 0 Axis Bank has launched an NFC-enabled smartwatch in collaboration with BoAt and Mastercard, transforming how consumers make contactless transactions on the go. Wave Fortune is designed to empower users with convenience, security, and a next-level smartwatch experience. Axis Bank cardholders can now securely tokenize and store their debit and credit cards on the WAVE Fortune Smartwatch via Crest Pay, boAt's official payment app and make contactless payments effortlessly. This feature, powered by Mastercard's tokenization technology and supported by the robust token requestor infrastructure of TAPPY Technologies, allows single-step payment of up to ₹5,000 on a POS device without entering card PIN, ensuring both speed and security. This launch further strengthens Axis smartwatch payments by integrating Mastercard's secure tokenization with BoAt's wearable design. Powered by Mastercard, the payment system allows users to securely tokenize and store their cards within the smartwatch strap for quick and seamless transactions. Axis Bank credit and debit cardholders on Mastercard and VISA networks will continue to enjoy the rewards and benefits of their linked card while making payments with the Wave Fortune smartwatch. Commenting on the partnership, Arnika Dixit, President & Head - Cards, Payments and Wealth Management, Axis Bank, said, 'At Axis Bank, we have been continuously working on innovation-led partnership models to offer innovative and secure digital banking solutions to customers. In this effort, we are delighted to have partnered with boAt to truly make payments on-the-go, seamlessly integrating contactless payments into people's day-to-day lives. Bringing in our expertise in tokenized contactless payments, 'Wave Fortune', a cuttingedge smartwatch will allow the users with the highest standards of safety and security, combined with a quick and convenient payment experience.' The rollout represents a leap forward in Axis smartwatch payments, making banking on the go both stylish and functional. Sameer Mehta, Co-founder and CEO, boAt, said, 'At boAt, we are always striving to push the boundaries of technology to enhance everyday convenience. Our partnership with Axis Bank brings secure, effortless payments to the wrist, making contactless transactions more accessible than ever.' Gautam Aggarwal, Division President, South Asia at Mastercard said, 'In the near future, payments will be gesture-based — integrated into our daily routines, with transactions occurring in a frictionless manner. Wearable devices, irrespective of the form factor, will play a key role in this evolution, offering quick and secure payment experiences. As a company committed to shaping this future of commerce, Mastercard is delighted to power the tokenization enabled smartwatch, empowering users to pay with their credit or debit cards
Finextra
5 hours ago
- Business
- Finextra
Mambu and Light frame collaborate on core banking package for wealth management
Today, Light Frame SA, a Swiss provider of modern investment operations and portfolio management technology, and Mambu, a global leader in cloud-native core banking, have announced a strategic partnership delivering a next-generation, fully integrated core banking solution tailored to the private banking and wealth management industries. 0 The partnership comes at a critical moment as wealth managers and private banks adapt to evolving client expectations, growing regulatory complexity, and increasing pressure on profitability. By combining Mambu's leadership in cloud-native core banking and extensive global operational footprint with Light Frame's sophisticated investment operations and portfolio management technology, the collaboration offers a distinct advantage to banks as they shape and execute their strategy. 'Mambu's entry into private banking alongside Light Frame marks a material step toward modernizing a sector that has historically seen limited innovation,' said Cenk Bozal, Region Manager DACH at Mambu. 'With over 260 live customers across 65 countries, Mambu is uniquely positioned to partner with the industry to realize the transformational value of a modern, proven core.' The core banking market is projected to exceed $65 billion by 2032, growing annually at 18.6%, according to Fortune Business Insights. The wealth management sector remains underserved by legacy technology, resulting in high operational costs and constrained innovation. The Mambu x Light Frame partnership presents a timely and transformative solution for institutions seeking modern alternatives that are secure, compliant, and built for speed and scalability. 'Over the past decade, Mambu has been at the forefront of core banking innovation, though our efforts have largely focused outside the Wealth industry,' said Leon Stevens, Head of EMEA at Mambu. 'We are now pleased to extend that innovation to private banks, wealth managers, brokerage banks, and WealthTechs as they modernize or start their operations. By bridging the gap between investment operations and core retail banking, the new solution empowers Wealth institutions to: Deliver seamless, end-to-end banking and investment experiences Accelerate implementation timelines and reduce IT complexity Integrate efficiently with third-party platforms Drive productivity and automation through intuitive interfaces and modern architecture Ensure resilience, compliance, and scalability through a cloud-native infrastructure 'When we set out to build a modern Swiss private bank, we searched for a core system that could deliver sophisticated wealth services while embracing the advantages of new technology. It didn't exist,' said Schuyler Weiss, CEO of Light Frame and former founder and CEO of the Swiss bank Alpian. 'That experience led to Light Frame. Today, in partnership with Mambu, we're offering a new benchmark—an end-to-end solution that's fast to implement, intuitive to use, and purpose-built for the high-touch, tailored services that define private banking.'
