Financial institutions stories - Page 11

A Radware study highlights alarming trends in cyber threats to the financial sector, revealing a surge in infostealer services and sophisticated OTP bots.

Fivecast has launched a groundbreaking AI-driven platform to bolster financial crime investigations, aiding institutions in meeting stringent AML compliance demands.

StraitsX's XUSD stablecoin will debut on Binance, bolstering its presence in digital finance as it surges towards mainstream adoption and infrastructure innovations.

TISA Commercial Enterprise has announced that Norwegian Digital ID firm BankID will join the advisory committees of Select ID to enhance digital identity accessibility in the UK.

NTT DATA's latest report reveals that 58% of banks globally are fully adopting generative AI, marking a crucial shift towards its integration in banking operations.

As the EU's AI Act takes effect in 2026, companies face the challenge of divergent AI regulations across borders, prompting the need for robust compliance guardrails.

Rayls has partnered with LayerZero to enhance cross-chain connectivity for financial institutions, aiming to integrate traditional finance with decentralised finance.

A survey by SAS and KPMG reveals sluggish AI and ML adoption in anti-money laundering, with only 18% of financial institutions fully implementing these technologies.

Target Group has forged a five-year partnership with FourNet to enhance its contact centre operations using the NICE CXone platform, aiming for greater efficiency.

Vespia has partnered with Mastercard to enhance merchant onboarding across multiple regions, aiming to streamline processes and cut onboarding times by up to 90%.

Senetas has sold its subsidiary Votiro to Menlo Security for USD $37.5 million, a strategic move expected to enhance its position in the cybersecurity market.

Akamai Technologies has been appointed as a National Ambassador for the National Cyber Resilience Centre Group, aiming to boost cyber resilience among UK SMEs.

In an era where speed and efficiency are paramount, banks must decide between building custom KYC systems or investing in advanced SaaS solutions to enhance client onboarding.

Moody's highlights a six-year high in romance scams, unveiling 1,193 new entities globally in 2024, with the US leading at 38% of cases.

Puma Growth Partners has led a $4.3 million funding round for Semeris, enhancing its AI tools for financial institutions navigating complex legal documents.

MongoDB and Lombard Odier have teamed up to revolutionise the Swiss bank's core banking systems, leveraging generative AI for faster application migration.

Artius.iD has appointed Jeffrey Keplar to its Board of Strategic Advisors, aiming to bolster cybersecurity for global financial institutions amid rising digital threats.

A recent report reveals that criminals are increasingly employing artificial intelligence to enhance bank scams, making them harder to detect.

As corporate banking undergoes a digital transformation, real-time KYC processes powered by Corporate Digital Identity are set to significantly enhance operational efficiency.

The future of financial crime prevention is being reshaped by AI and quantum computing, presenting both opportunities and risks, says Efficient Frontiers International.