Financial institutions stories - Page 5

Financial crime is set to cost global economies USD $485.6 billion in 2023, prompting calls for Corporate Digital Identity to enhance fraud prevention.

Research by Proofpoint reveals that 66% of Australian banks are ill-equipped to combat email fraud, risking customer safety amid rising scams.

AUSIEX has integrated the NICE CXone platform to boost customer engagement and operational efficiency, enhancing its services in the financial sector.

A staggering 88% of older UK residents believe banks should retain physical branches, highlighting concerns over the digital divide and access to services.

A new report reveals a staggering 19% rise in global fraud attacks, largely fuelled by AI exploitation, highlighting urgent need for improved detection measures.

EFI advises financial institutions on five key considerations for outsourcing AML operations amid rising regulatory pressures and operational costs.

SAS teams up with the Association of Certified Fraud Examiners to advocate for anti-fraud AI during International Fraud Awareness Week amid rising fraud tactics.

Bitsight has acquired threat intelligence provider Cybersixgill for USD $115 million, bolstering its cybersecurity capabilities amid rising cyber risks.

As the EU's DORA regulation looms, financial firms are urged to bolster digital resilience or risk severe operational disruptions by January 2025.

AND Solutions has secured a software agreement with PT AEON Credit Service Indonesia to deliver AI-driven custom credit scoring solutions.

HID has acquired Italian firm IXLA, enhancing its portfolio in secure credential issuance and expanding its reach in European and emerging markets.

A study by Synectics reveals that 75% of money mules remain undetected without continuous KYC and AML screening, presenting a major threat to banks.

A report reveals that over 50% of financial institutions in Asia are failing to adopt AI for anti-money laundering, risking exposure to financial crime.

The persistent ability of criminals to exploit legitimate structures to launder money has banks and others on the hunt for new tools and techniques to counter the threat.

Devexperts has appointed Ben Hurley as its new CEO, signalling a clear focus on innovation and growth as the company expands its market presence.

Ripple has unveiled RLUSD, a USD stablecoin for enterprises, launching it with key partners like Uphold and Bitstamp to ensure global access.

A report from fintech Neo reveals 95% of Payment Service Providers have faced account closures or restrictions, often without bank explanations.

Ripple has unveiled an update to its Custody platform, enhancing features for fintechs with improved security and real-time transaction monitoring.

A new report reveals that over 32% of financial institutions lack clarity in supplier management, increasing their risk amid tightening regulations.

Commvault and Pure Storage have launched a joint cyber readiness solution to help financial institutions meet the EU's DORA regulations by 2025.