Fintech News

APRIL 16, 2024

Generative artificial intelligence (AI), also known as gen AI, is expected to significantly impact risk management over the next five years, allowing financial institutions to automate tasks, accelerate processes and improve efficiencies. Following a credit decision, gen AI can draft the credit memo and contract.

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Risk Management AI Risk Use Case 111

The Paypers

JUNE 19, 2023

UK-based company DirectID has partnered with Zinia AI to offer hyper-personalisation and to assist with regulatory compliance in the lending industry.

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AI Regulatory Compliance Compliance 67

The Fintech Times

SEPTEMBER 14, 2024

Having already explored compliance challenges, penalties and solutions, we now turn our attention to the technology of the moment: AI. While we’re well aware that AI is currently spoken about in absolutely every context, we also understand the huge impact it can have across sectors and operations.

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Compliance AI Process Suspicious Activity Report (SAR) 69

Fintech Review

JULY 2, 2024

In 2024, advancements in RegTech are revolutionizing how firms manage regulatory requirements, leveraging innovations such as AI-driven monitoring and big data analytics to enhance efficiency and transparency. Furthermore, AI enables proactive risk management by predicting potential compliance issues before they escalate.

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Compliance Regulatory Compliance AI Interoperability 98

Nanonets

DECEMBER 13, 2023

Integrating AI and automation into the underwriting workflow presents a significant opportunity to minimize the time allocated to administrative tasks, manual processes, and repetitive data entries. In addition, AI can help insurance firms evaluate risk with high accuracy by analyzing large volumes of data.

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AI Process Fraud Detection Compliance 102

The Fintech Times

SEPTEMBER 23, 2024

Artificial intelligence (AI) and environmental, social and governance are some of the industry’s favourite terms to throw around. AI promises to make a huge impact on every aspect of financial services, while ESG principles are important to abide by to ensure firms look after the planet and their people.

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AI Regulations Fraud Detection Regulatory Compliance 59

Finovate

AUGUST 26, 2024

In a recent post about the themes of FinovateFall 2024 (New York City, September 9 – 11), we recognized just how much our demoing companies were leveraging AI to help build innovative financial solutions in everything from payments and lending to cybersecurity and regulatory compliance.

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AI Credit Union Regulatory Compliance Research 59

Fintech Review

MARCH 27, 2024

We talk about how artificial intelligence can make things better for customers, tackle the worries some have about AI being unfair, and look at the big changes coming in fintech. Do you think that AI can really lead to improved outcomes for customers? It is also important to be transparent about how AI works and makes decisions.

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AI On-Demand Finance Regulatory Compliance 99

Segpay

FEBRUARY 21, 2024

5 minute read In recent years, generative artificial intelligence (generative AI) has emerged as a powerful force reshaping various industries. What is Generative AI? Generative AI is an advanced artificial intelligence technology that creates text and images.

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AI Innovation Fraud Detection Encryption 105

Fintech News

APRIL 28, 2024

The banking industry is shifting towards innovation, collaboration and customer-centricity, driven by the adoption of technologies including cloud computing, data analytics, artificial intelligence and machine learning (AI/ML), changing customer preferences, and a rapidly evolving regulatory landscape, a new report by Amazon Web Services (AWS) says.

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AI Innovation Financial Crimes Crime 109

Finextra

NOVEMBER 30, 2023

Global money laundering is estimated to account for a staggering two to five per cent of the world’s.

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Regulatory Compliance Money Laundering Compliance AI 52

Fraud.net

NOVEMBER 24, 2023

In this digital age, anti-money laundering is challenging. Find out what regulations apply to AML in banks and how you can remain compliant.

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Regulatory Compliance AML Money Laundering Compliance 52

Fintech News

JULY 4, 2024

As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for central banks worldwide are quickly emerging.

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Nanonets

MAY 31, 2023

According to a Forrester survey, 98% of financial institutions believe that AI and ML can give them an edge and improve how they do business. This article explores the case for integrating AI into your finance function, the route to achieving it, and how your business can step change as a result. AI can help mitigate these issues.

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AI Finance Fraud Detection Mitigation 122

Fi911

JANUARY 31, 2024

The advent of generative AI (or “Gen AI”) presents a remarkable transformation opportunity for the banking sector in 2024. While the promises of Gen AI are significant, there’s a looming concern about scammers exploiting this technology. Thus, while the excitement surrounding Gen AI is palpable, it is tinged with caution.

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AI MFA Regulatory Compliance Best Practices 88

The Fintech Times

MAY 2, 2024

At The Fintech Times , we have discussed whether the hype around artificial intelligence (AI) is justified or not. Supporting the case that it definitely is, paytech Equals Money has published research revealing that 95 per cent of financial leaders are using, or considering using AI in their processes.

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AI Automation Regulatory Compliance Rules 59

The Payments Association

JUNE 26, 2024

Exceptional customer service, enhanced by loyalty programs, financial tools, and advanced technologies like AI and biometrics, is vital for building trust and customer satisfaction. Regulatory compliance, particularly in data protection and consumer rights, remains essential.

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Digital Payments Fraud Detection Regulatory Compliance Encryption 110

PYMNTS

APRIL 10, 2020

In many realms of businesses, machine learning (ML) and artificial intelligence (AI) have yielded powerful tools to manage such complex matters. percent of organizations in this sector currently use AI, according to PYMNTS’ latest research. Yet, these advanced computational systems have a long way to go in healthcare administration.

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AI Fraud Detection Regulatory Compliance Risk Assessment 144

The Fintech Times

JULY 31, 2024

The post Amica Mutual Insurance Leverages AI-Powered Property and Climate Risk Analytics From ZestyAI appeared first on The Fintech Times. “One of the most meaningful ways we protect our customers and their homes is to work with them to understand and mitigate risk,” said Rebecca L. Stolte , assistant vice president at Amica.

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Risk AI Risk Assessment Assessments 59

The Paypers

OCTOBER 2, 2024

FinCause has announced its partnership with iDenfy in order to integrate AI-powered ID verification, ensuring regulatory compliance and security against financial crime.

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Regulatory Compliance Financial Crimes Crime Verification 41

The Fintech Times

JANUARY 5, 2024

Particularly since the release of OpenAI ‘s ChatGPT at the back-end of 2022, the world has sat up and taken notice of the potential of artificial intelligence (AI) to disrupt all industries in countless ways. In 2023, Salesforce published research revealing some of the biggest generative AI trends of the year.

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AI Database Financial Crimes Compliance 75

Finextra

AUGUST 1, 2024

TransPecos Banks, an innovative Texas-based community bank, has selected Oscilar’s innovative AI-Powered AML Risk Platform to transform its compliance and risk management capabilities.

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AML Risk Regulatory Compliance Community Banks 52

FICO

MAY 24, 2021

Responsible AI has been one of my big topics for a few years now, the subject of many articles, blogs and talks I’ve given to audiences around the world. So how are companies faring in adopting Responsible AI, making sure they are using artificial intelligence ethically, transparently, securely and in their customers’ best interests?

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AI Regulatory Compliance Governance Government 98

Nanonets

FEBRUARY 12, 2024

Among the sectors witnessing a seismic shift, the lending and loan management world stands at the forefront of this AI-powered evolution. In this blog, we'll explore how AI is not just a tool but a paradigm shift, altering lending institutions' DNA and redefining the borrower-lender relationship. The result?

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AI Fraud Detection Regulatory Compliance Automation 52

Fintech News

JUNE 11, 2024

According to Hawk, the new funding will support its accelerated international expansion plans, driven by the growing demand for its AI-powered anti-financial crime technology. Its explainable AI approach allows financial institutions to reduce false positive rates and detect previously unseen and novel financial crimes.

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Financial Crimes Crime Regulatory Compliance Fraud Prevention 106

FICO

JANUARY 18, 2023

The State of Responsible AI in Financial Services. The third annual State of Responsible AI in Financial Services report released today, alerting the industry to come together and self-regulate its use of AI. Regulation of AI is almost certainly on the way. FICO Admin. Thu, 12/19/2019 - 16:29. by Scott Zoldi.

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AI Regulatory Compliance Regulations Compliance 52

The Finance Weekly

OCTOBER 15, 2023

The business world is changing fast, giving Chief Financial Officers (CFOs) and their teams a chance to use Generative Artificial Intelligence (Generative AI) for innovation and efficiency. Generative AI can help in saving costs, making better decisions, and developing skills. This enhances customer experience and loyalty.

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AI Risk Automation Data Security 52

The Fintech Times

MARCH 18, 2024

Enhanced security and regulatory compliance In sectors like finance, healthcare, and technology, stringent regulations govern the protection of sensitive information from unauthorised access or misuse. Multi-dimensional analysis AI algorithms are powerful detectives in the fight against fraud.

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Fraud Prevention AI Fraud Detection Payments 59

Nanonets

JUNE 3, 2024

This is where Artificial Intelligence (AI) steps in, revolutionizing how we extract information and unlock the true potential of our data. AI has revolutionized processes in numerous industries, and data extraction and processing is no different. Today, with the help of AI, data extraction has become much more accurate and intuitive.

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AI Process Automation XML 40

Nanonets

FEBRUARY 15, 2024

This is the promise that AI holds in invoice data capture – a promise not just to streamline processes but to revolutionize the core of how businesses manage their financial transactions. In this blog, we explore AI's pivotal role in reshaping the landscape of invoice processing. What is AI-based Invoice Data Capture?

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AI Automation Process Mitigation 52

Fintech Review

JUNE 12, 2024

These challenges include legacy systems, regulatory compliance, and cultural resistance to change. Regulatory Compliance The insurance industry is heavily regulated, and new technologies must comply with existing regulations. Insurers need to navigate complex regulatory landscapes while implementing innovative solutions.

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Risk Assessment Regulatory Compliance Assessments Risk Management 96

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

The Fintech Times

SEPTEMBER 3, 2024

This month, The Fintech Times is looking at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer. The Digital Operational Resilience Act ( DORA ) will into play in January 2025 across the EU.

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FinTech Regulatory Compliance Compliance Cybersecurity 69

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? In banking and financial services within North America, our research shows that AI is an even higher priority now than 12 months ago for 52% of financial services organisations. They must be able to assess whether unfair discriminations are taking place.

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AI Regulations Legal Framework Non-Bank 52

FICO

NOVEMBER 26, 2020

Turkey's Yapi Kredi, the fourth largest publicly owned bank in Turkey, is taking an advanced approach to AI model management by using FICO® Decision Central ™ to manage analytics models and decision logic across the enterprise. by FICO.

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AI Regulatory Compliance Adjustments Government 52

The Fintech Times

OCTOBER 12, 2024

ESG 360 : An AI-Driven Platform using existing ESG Reports to produce a gap analysis for regulatory compliance that provides full audit capability. ESG Disclose : An AI powered platform that offers AI-powered analytics, customised integration, real-time monitoring, and collaborative tools.

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FinTech Regulatory Compliance AI Professional Development 52

Fintech Review

OCTOBER 1, 2024

These protocols are integral to combating financial crime and ensure regulatory compliance. AI and Machine learning: The new kids on the block Artificial Intelligence (AI) and Machine Learning (ML) are slowly emerging to poise themselves as transformative AML and KYC processes. This enhances efficiency significantly.

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AML Verification Research Consumer 98