F|T: FinTech Times Canadian banks ranked among the top for global AI innovation

Additionally, Haun Ventures returns to blockchain by investing in Chainaracy.

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Canadian banks ranked among top globally for AI research

Canadian banks occupy three of the world's top 10 spots for artificial intelligence innovation, according to a new ranking.

Royal Bank of Canada, Toronto-Dominion Bank and Bank of Montreal are ranked third, sixth and ninth in the world, respectively, according to a report released early Tuesday by AI benchmarking platform Evident Insights Ltd. was ranked.

This was one of the biggest surprises when we first ran this index, seeing for the first time how many Canadian banks were at such a high level, driven largely by their research and patent approach to AI innovation. , said CEO Alexandra Mousavizadeh. In an interview.

(Globe and Mail)

Harvest Ventures, New York-based IA Capital invest in $3.5 million seed round in Summit

Kelowna-based digital insurance intermediary Summit has raised C$3.5 million in seed funding to build its technology infrastructure and revenue team.

The all-equity seed round was led by New York-based venture capital firm IA Capital Group, with follow-on investment from Calgary-based Harvest Ventures.

Founded in 2022, Summit bills itself as a national insurance brokerage and risk management company with technology-driven solutions.

(beta kit)

Haun Ventures buys Chainaloss push

Haun Ventures raised $1.5 billion in investments in crypto startups just before the market crashed and venture deals slowed dramatically. Now, with the crypto market showing signs of recovery, Haun is aggressively acquiring a stake in one of the industry's hottest survivors at a significant discount to its highest valuation.

Haun Ventures, which had not previously invested in Chainalysis, has also been trying to organize a larger secondary share purchase from existing investors in recent months.

BetaKit reported in April last year: Chaineries, a U.S.-based blockchain data platform, provides data, software, and investigative services to the CPS Blockchain Investigations Team dedicated to assisting with crypto and blockchain-related investigations in partnership with the Calgary Police Service. was founded.

(information)

Investigation into CleanBC program raises concerns about impact on state startups by cleantech and subsidy experts

Allegations of a conflict of interest in British Columbia's electric vehicle cleantech subsidy program have sparked a provincial investigation into MNP's management practices.

Multiple subsidy and cleantech experts BetaKit spoke to believe the review is warranted, but the outcome for B.C.'s tech companies, albeit on a much smaller scale, is that Canada's sustainability He expressed concern that the fallout would be similar to the aftermath of a possible development technology scandal.

The best result is to do this [this] Janet Jackson, CEO of Vancouver-based cleantech accelerator Foresight Canada, said in an interview with BetaKit that she hopes to quickly review and reach an agreement to get the money flowing again soon. Stated.

(beta kit)

SEC sues Uniswap to stifle booming DeFi sector

The Securities and Exchange Commission on Wednesday filed an enforcement action against Uniswap, the leading platform for the DeFia segment of the cryptocurrency market, which relies on computer protocols that act as automated market makers for traders to exchange various tokens. He warned her that he intended to wake her up.

Fortune does not yet know the specific nature of the SEC's allegations against Uniswap Labs, the company that built but does not control the protocol of the same name. However, based on the authorities' recent lawsuits against high-profile crypto companies like Coinbase, authorities allege that the company illegally offered unregistered securities to the public or failed to register as a broker or exchange. Probability is high.

(luck)

Define Capital raises $20M to acquire and develop profitable niche software companies

OMERS Ventures and RIV Capital alumnus Narbe Alexandrian plans to acquire and grow profitable vertical Software-as-a-Service and B2B software companies over the long term through Toronto Define Capital .

The idea is that these sticky SaaS and [B2B] Alexandrian told BetaKit in an exclusive interview that, similar to the constellation model, it's just a matter of optimizing for a software company and then keeping it forever.

(beta kit)

Risk Thinking.AI selected by OSFI to provide climate risk data to financial institutions

Toronto-based Risk Thinking.AI has been selected by the Office of the Superintendent of Financial Institutions to provide financial institutions with the climate risk data needed to complete a 2024 standardized climate scenario exercise.

AMF President and CEO Yves Ouelle said in a statement that financial institutions are exposed to the effects of climate change. The joint exercise we are launching today with our colleagues at OSFI will help agencies prepare to manage climate change risks. It will also allow us to take the necessary steps to support financial market stability and the protection of Quebec consumers.

(beta kit)

London fintech company GoCardless seeks $131 million in funding from shareholders after mounting losses

London fintech company GoCardless has sought an additional $131 million in funding from shareholders after reporting rising losses.

The Google-backed company announced it has completed a $90 million equity raise and a $41 million cash advance from its parent company. Although it is not clear how the new funding affected the company's valuation, the company warned of a decline in appetite for investing in late-stage growth companies.

(standard)

As cryptocurrencies regain momentum, Coinbase Canada's Lucas Matheson focuses on the next big thing: adoption.

Coinbase Canada CEO Lucas Matheson made it clear that cryptocurrencies as an asset class are here to stay and the industry is moving to a new focus on driving adoption.

Now is our chance to pivot and help spread opportunities for Canadians to access the digital economy, Matheson told Betakit.

In a recent fireside discussion with BetaKit Interim CEO Satish Kanwar, Matheson explained how Coinbase is looking to accelerate cryptocurrency adoption in Canada and how the government will play a role. We explored the role and opportunities for innovation more broadly in Canada.

(beta kit)

TransferGo raises $10 million to expand remittance business in Asia, doubling valuation

TransferGo, a UK-based fintech company best known as a consumer platform for global money transfers, raises $10 million in growth funding from Taiwan-based investor Taiwania Capital as it aims to expand in Asia Pacific. Raised a round. The company last raised $50 million in a Series C funding round in 2021.

(Tech Crunch)

Intel says businesses need options to expand the potential of AI

Following Intel CEO's keynote and announcements at the company's vision conference for more energy-efficient processing chips and an open AI app ecosystem, Asma Aziz, Intel's Canadian marketing director, shares the path to enterprise AI adoption. told BetaKit why the company believes that: An open ecosystem rather than a walled garden.

(beta kit)

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