Robo Advisors

South Korea-based Qara, which has built an AI-powered robo-advisor, has reportedly raised $3m in funding, as it looks to release a new global stock trading service for individuals.

Conversational AI platform FinChatBot has received £1.2m, as it looks to expand internationally.

A recent survey from PwC found that 61% of bankers believe customer-centric business models are very important, and yet only 17% of them are “very prepared” for it. Kidbrooke has released a new demo highlighting the problem in the market.

Last week proved a huge win for challenger banks and the Latin American FinTech sector. Check out these funding rounds to find out why.

The US Securities and Exchange Commission (SEC) has voted to amend its definition of accredited investors, meaning more people will soon be eligible to enter the private capital market.

Spanish bank BBVA has run a proof-of-concept quantum technologies test together with Multiverse to see the innovative technology would boost investment portfolios' performance.

Magnetis, which offers Brazilian investors a wealth management solution, has reportedly raised $11m in its new funding round as it looks to become a full-service brokerage.

India-based Pickright Technologies has reportedly raised RS 1 crore ($133,000) in a round backed by unnamed angel investors from India, the UK and Singapore.

Singapore-based robo-advisor StashAway has collected SGD $22.3m ($16m) in its Series C round which was led by Square Peg.

While many have predicted that artificial intelligence could change how financial services operate, Kidbrooke notes that the revolution has yet to manifest. Could Covid-19 change that?