Alexander Boehm Chief Executive Officer at PayRate42
The financial world is facing a host of challenges brought about by technological innovations and digital transformation. Traditional regulatory authorities play a crucial role in overseeing the sector, but the evolving dynamics of the modern financial landscape—particularly in the realm of cyberfinance—demand additional players: private watchdogs...
18 hours /regulation /inclusion
Erica Andersen Marketing at smartR AI
Introduction: The AI Hype Cycle In early 2023, the world was shaken by OpenAI's announcement of GPT-3.5. This breakthrough in artificial intelligence (AI) sparked a global rush to capitalize on AI's potential, with companies and investors scrambling to join the AI revolution. However, 18 months later, the landscape looks markedly different. While
20 hours /ai /devops Artificial Intelligence and Financial Services
Edvards Margevics Co-partner at CONCRYT
Gone are the days of signing for a payment – even entering a pin number can prompt exasperated eyerolls from consumers accustomed to completing transactions with a single tap. That expectation has now made its way online, with Open Banking making it increasingly possible to pay without entering card details. But with authorised push payment (APP)
30 August 2024 /security /payments
Prakash Bhudia HOD – Product & Growth at Deriv
Nvidia shares dipped 6% after earnings on Wednesday despite beating Wall Street estimates of $28.7 billion and 64 cents earnings per share, to record $30.04 billion and 68 cents earnings per share. Despite the uptick in earnings, it failed to meet the lofty expectations of investors who are accustomed to steeper revenue increases as had been s...
30 August 2024 /markets
Ellen Roberson Global Marketing Advisor, Risk, Fraud & Compliance at SAS
Fraud, risk, and compliance departments worldwide face a rapidly evolving and expanding workload, fueled by increasingly complex modern-day fraud and financial crimes. According to data from the FBI and Deloitte, generative AI (GenAI) is expected to rapidly increase fraud losses over the next few years. But even as AI technology galvanizes bad act...
30 August 2024 /ai /crime Artificial Intelligence and Financial Services
Helghardt Avenant CEO at Rehive
Imagine a neobank that operates entirely onchain, free from the constraints of traditional banking systems. What once seemed futuristic is now within reach. The question is—who will be the first to launch a truly non-custodial neobank? More importantly, why is this model better than the traditional ones? Neobanks have revolutionized banking, makin...
29 August 2024 /retail /inclusion
Franklin Manchester Principal Global Insurance Strategic Advisor at SAS
This article originally appeared in the Anti-Fraud Alliance email newsletter and is re-published here with permission. Life insurance fraud is the second most expensive type of insurance fraud in the United States, with losses totaling an estimated $74.4 billion per year. Anecdotally, many carriers note that, while insurance fraud detection rates ...
29 August 2024 /ai /crime Artificial Intelligence and Financial Services
Patrick Bermingham CEO at Adflex
Visit any social media newsfeed and countless posts will tell you that AI means “nothing will ever be the same again” or even that “you’re doing AI wrong”. The sheer volume of hyperbolic opinions being pushed out makes it almost impossible for businesses to decipher between the hype and reality. This is an issue the European Union’s ‘AI Act’ (the ...
29 August 2024 /ai /payments Artificial Intelligence and Financial Services
Hirander Misra Chairman and CEO at GMEX Group
The accelerating pace of climate change demands a fundamental shift in how we approach climate-related investment, carbon trading, regulation, and the integration of sustainable practices into the global economy. The conversation around these issues has moved beyond theoretical discussions to focus on practical strategies that define what "go...
29 August 2024
Steve Ponting Director at Software AG
Two thirds (65%) of businesses say that tech complexity makes governance issues worse. In an industry like financial services, this simply won’t do. As FS and banking Chief Compliance Officers (CCOs) know, rapid deployment of new technology and processes since the pandemic has forced a complexity onto businesses which causes headaches for employees...
29 August 2024 /regulation /people
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.