Financial institutions stories - Page 5

A BioCatch study reveals that artificial intelligence (AI) is increasingly used by criminals for financial crime and digital fraud, posing significant challenges to global financial institutions.

As cybercrime rates surge, Australia's major banks grapple with responsibility for preventing financial scams, prompting critical discourse on customer versus bank account protection roles.

AI-based analysis platform Bridgewise secures $21m in funding led by SIX Group, raising total capital to $35m to expand reach and enhance its AI technology for global security insights.

Global open banking leader, Ozone API, has formed a strategic partnership with Thistle Initiatives to help financial institutions achieve compliance with the forthcoming Third Payment Services Directive (PSD3).

Fintech operator Fils joins forces with digital banking provider Aion to fuse ESG principles into Middle East finance, leveraging Green APIs to track and reduce emissions.

Cogo partners with AI-firm Personetics, pioneering climate-conscious banking by aiding customers in understanding and managing their carbon footprints based on their spending habits.

Frollo, Australia's Open Banking service provider, urges a collaborative strategy to enhance the data quality in the nation's Consumer Data Right framework, supporting superior financial outcomes.

Oracle unveils AI-powered Finance Services Compliance Agent to help banks combat a predicted $5.05tn in money laundering in 2024, through enhanced transaction monitoring and risk-control efficiency.

As gen AI tools transform multiple sectors, businesses need to tackle key challenges including concerns over data privacy, inherited biases, and ethical dilemmas.

Amid growing fraud concerns, a study reveals 70% of financial institutions are turning to AI and machine learning to bolster defenses, marking a notable shift towards tech innovation.

FICO's study reveals prolonged fears of identity theft among Indonesians, as 36% remain anxious, heightening vulnerabilities to financial loss and credit damage amid growing risks from real-time payments.

Aryza Group unveils dynamic, standalone system, Aryza Decide, geared to revolutionise credit risk management in the lending industry and encouraging operational efficiency.

AIOps startup, Selector, unveils its Spring 2024 product with features like GenAI and advanced full-stack monitoring.

iManage, a London-based cloud services company, records impressive growth in 2023 with the addition of over 300 new customers and a 36% jump in annual recurring revenue.

Financial crime compliance costs have soared, driven by increased regulations, technology costs, and ongoing battles against evolving financial crimes.

DCI Indonesia has launched its E1 Tier IV data centre in central Jakarta, offering high service quality and latency benefits to clients across sectors like banking, telecoms, manufacturing, and state-owned firms.

As mere 2p in every £1 invested in early-stage UK businesses goes to women, the IWD 2024 focus is on addressing the disparity in funding for female entrepreneurs.

Clear, accessible shareholder communication is vital to empower a growing generation of female investors, in an increasingly complex financial climate.

Finastra appoints Mike Stawchansky, an expert with over 25 years in the tech sector, as Senior VP and Chief Technology Innovation Officer to boost customer technology and Gen AI innovation.

Digital learning tools hold a potential catalyst for boosting the economic presence of women, as this IWD 2024 highlights, aiming to bridge the gap for unbanked women in Asia-Pacific.