Tag: banking technology

Artificial intelligence has rapidly transformed banking operations, playing a key role in tasks such as transaction screening, monitoring, and customer due diligence. Yet as AI adoption accelerates, regulators worldwide are tightening expectations on how banks deploy, govern, and oversee these systems.

Financial institutions are facing unprecedented pressure as payment fraud grows more complex and relentless. Attack volumes are increasing, schemes are more sophisticated, and the time...

WorkFusion, a leader in AI-driven financial crime compliance solutions, has unveiled a new AI Agent named Edward, aimed at transforming the Enhanced Due Diligence...

Financial services are embracing software-as-a-service (SaaS) models to drive efficiency and security, with adoption in banking, financial and insurance sectors projected to reach over $130bn by 2027, up from $54bn in 2022. Within financial crime prevention alone, spending on cloud-based solutions is expected to make up 32% of deployment spending, reflecting a sector eager to modernise its compliance defences.

Sanctions compliance is becoming increasingly complex, driven by rising geopolitical tensions, a surge in regulatory demands, and the growing number of sanctioned individuals and entities.

ING, a leading global banking group headquartered in the Netherlands, is expanding its fraud prevention efforts with the launch of its ‘check the call’...

Key French RegTech investment stats for 2024: French RegTech funding dropped by a fourth in 2024 There were zero deals over $100m as investors...

Nicole Baxby, the Vice President of Customer Success at Quantifind, recently shared her personal journey and significant achievements in the field of risk management and customer success. Baxby's experience underscores the importance of technology, collaboration, and a customer-focused approach in combating financial crime.

In the evolving banking sector, improving customer experience is pivotal. According to industry insights, 85% of financial crime compliance executives are now prioritising customer experience.

In a recent announcement by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS), major retail banks in Singapore are set to overhaul their security protocols.