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NEWS
Digital Reasoning to expand product portfolio with $30m of new funding
T
he Artificial Intelligence (AI) specialist Digital Reasoning has raised $30 million in new funding. BNP Paribas led the round and Angel Rodriguez-Issa, Global Head of Strategic
Investments, Global Markets at BNP Paribas, has joined Digital Reasoning’s board of directors.
Barclays and Square Capital also joined the round, as well as previous investors Goldman Sachs, Nasdaq, Lemhi Ventures, HCA and the Partnership Fund for New York City.
“Global financial institutions are turning to AI to help drive digital transformation in order to improve revenues and efficiencies,” said Brett Jackson, CEO of Digital Reasoning. “The speed and accuracy of Digital Reasoning’s AI system transforms large quantities of structured and unstructured data about employees, clients, and competitors into valuable human-centric business insights.”
Digital Reasoning has a proven record optimising AI-powered solutions for financial institutions that deliver real return on investment. This new round of funding will enable Digital Reasoning to expand its product portfolio for capital markets and wealth management use cases, accelerate key AI innovations across speech analytics, natural language understanding, and machine education and expand its go-to-market capacity.
Digital Reasoning is expanding its Artificial Intelligence vision
“We are thrilled that BNP Paribas as well as Barclays and Square Capital are joining other world-class investors to support our vision,” said Tim Estes, president and founder of Digital Reasoning. “The new investment will enable us to use our novel and patented AI technology to turn all forms of communications data – including now audio and voice data – into discoverable, understandable and actionable insights that help to accelerate customer-centric data strategies in the world’s largest Enterprises.”
Saxo Bank and Banca Generali sign eight-year digital trading partnership
D
enmark-based Saxo Bank has signed a partnership with Banca Generali for the provision of online trading and digital services to Italian clients. The eight-year deal, which
may be renewed upon expiry, will see Saxo Bank provide clients, on “an exclusive basis” for the Italian market, access to “an innovative platform” for advanced trading.
A new entity, BG SAXO Sim, has been created to facilitate the terms of the new partnership. Banca Generali will make available to the partnership its banking platform and “develop new opportunities” for its financial advisors and clients.
“We are pleased to partner with one of the best companies in the world for digital trading services, and its outstanding, innovation- oriented management team,” said Gian Maria Mossa, CEO of Banca Generali. “This partnership opens up new opportunities for our bank,
which is expanding its exclusive solutions with a range of excellent digital services, and especially for our network of financial advisors and clients, to whom our private bank will be able to provide an even more extensive range of tools which will add value and greater choice.”
Kim Fournais, CEO and founder of Saxo Bank, added: “We are very proud to partner with Banca Generali and the cooperation is testament of how partnerships are a transformative force that can ensure a best-in-class client experience.
“With Saxo Bank’s unique technology stack and Banca Generali as a very strong local partner, clients benefit from the best trading experience with regards to product, platform, price and service. We believe that the trading and investing industry can thrive if it leverages mutual strengths of different market participants and are fully supportive of the open banking model.”
www.ibsintelligence.com | © IBS Intelligence 2018
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