Deepfake fraud in fintech shot up 700% last year.

What we’ll cover today:

🎲Is AI in Banking a Game-Changer or a Gamble?

💰 Fintech Specialist With Valuable Post.

💳 Angela Strange says, “Fintech isn’t dead.”

🔗 The event roundup

Is AI in Banking a Game-Changer or a Gamble?

Your banking app could catch fraud instantly.

Fix errors in seconds.

Give you personalised money tips.

Sounds great, right?

But there’s a catch—AI brings significant risks, too.

A recent survey shows 60% of people are unsure:

• AI in banking could be unique but risky.

• Deepfake fraud in fintech shot up 700% last year.

• AI-driven scams could hit $40 billion by 2027.

Banking leaders are still pushing forward:

• 66% of CEOs are willing to take big risks for AI.

• AI now powers 72% of banks worldwide.

The future of finance is changing fast.

Here’s the whole article

1. Fintech Specialist With Valuable Post.

VCs didn’t know what fintech was until giants like Stripe, Credit Karma, and NuBank emerged. Then, every VC wanted fintech exposure.

But these “fintech tourists” have exited the building.

Following is advice from 8 VCs stuck with fintech through thick and thin.

Here’s the whole thread

2. Angela Strange says, “Fintech isn’t dead.”

Angela is a General Partner at Andreessen Horowitz, focusing on FinTech.

She recently posted on Linkedin about:

“Fintech isn’t dead.  It’s at a new beginning.  

Tech in financial services adapts/ creates large opportunities in every product cycle.  We are just at the beginning with AI.”

Here’s the full post

1. US fintech software provider CSI acquires Velocity Solutions.

US fintech solutions provider CSI has acquired Velocity Solutions for an undisclosed sum. CSI is looking to expand its product offerings further to “support financial institutions’ most significant sources of revenue.”

2. Credit card fintech Yonder raises £23.4m as it eyes EU expansion.

Yonder, a UK credit card fintech specializing in reward points, announced its closing a £23.4m funding round. The investment was co-led by global VC firm RTP Global and Repeat (previously known as Jigsaw), a new fund that’s operated in stealth for the past four years.

3. Bank of America’s Strategic Shift to FinTech Collaboration.

The partnership between banks and FinTechs allows each party to focus on its core strengths. Banks can continue offering the right products and services, while enterprise resource planning (ERP) and treasury management system (TMS) providers can optimize their software solutions.