ComplyAdvantage has launched its annual report into fraud, money laundering, and financial crime: The State of Financial Crime 2024. The report identifies the criminal use of artificial intelligence (AI) as an emerging fraud challenge while revealing that most financial institutions are investing in technology to combat this growing threat. However, a majority of consumers remain […]
DLA Piper, the global law firm, has onboarded software-as-a-service solution LiveDiligence, integrating the data-driven tool designed to offer enhanced efficiency and collaboration into its due diligence process for its renewables clients. LiveDiligence is a unique and specialised platform used by advisors to deliver timely and actionable due diligence insights to renewables investors and lenders. As […]
Barclays Research and IBM’s Institute for Business Value today released a new Impact Series report, entitled “AI revolution: productivity boom and beyond.” The report examines whether AI can become the final accelerator to boost productivity and what this could mean for industries and the wider economy. “The world’s demographic patterns are shifting in unprecedented ways […]
Regulated firms risk becoming enablers for sanction evasion by trusting long-term client relationships over critical compliance checks, new survey data can reveal. A staggering 41 percent of firms said they are confident that none of their clients are listed on sanction or PEP (politically-exposed person) lists because they have worked with them for a […]
A recent survey conducted by next-generation reconciliation software specialists, Aurum Solutions, and international market research agency, OnePoll, has revealed crucial insights into the prevailing concerns and perceptions surrounding digital acceleration, the impact of AI on job roles and what a changing political landscape will mean for fintech in the UK. Over 100 chief financial officers and senior […]
Dr. Tom James, CEO of TradeFlow stated: “TradeFlow is pleased to start 2024 with this announcement that testifies to our strong focus on digital innovation and the digital economy. Working with the Obligate team to launch a bond through their platform further highlights the commercial efficiencies that can be achieved by leveraging Blockchain technology for […]
External fraud has entered the ORX Top 5 operational risks table, above business continuity and regulatory compliance. AI has been cited as key to driving this increase, as it fuels more sophisticated and harder to detect fraud schemes, successful at bypassing controls. The findings were published in a report from ORX, the world’s largest operational […]
Are the banks becoming more transparent and responsible in their approach to AI? As the drive towards greater regulation and oversight of AI gathers pace, new insight from independent AI intelligence platform Evident suggests so. The latest Evident AI Index, which analyses 50 of the world’s largest banks across a range of AI Transparency criteria, reveals that the […]
Having become more readily available, generative AI has captured the public’s attention and sparked concerns around its accuracy and bias. Global analytics software leader FICO is highlighting that all data is biased, and when it is used to build AI appropriate interpretable machine learning, algorithms and guardrails need to be employed. “As the power of […]
International SME financier Bibby Financial Services (BFS) has announced a key strategic investment in Alfa’s preconfigured technology platform for asset finance, Alfa Start. BFS has selected Alfa to improve outcomes for clients and colleagues alike, as it continues to grow and thrive. Both Bibby Asset Finance and BFS Marine Finance divisions will fully migrate to […]
