Financial institutions stories - Page 14

eflow Global's TZEC upgrade leverages AI to enhance eComms surveillance, aiming to curb market abuse and meet strict regulatory demands amid rising fines.

CloudSEK reveals a surge in investment scams through WhatsApp and Telegram, with 29,000 fraudulent ads on Facebook and over 81,000 fake Twitter accounts.

REGnosys has open-sourced its regulatory language Rune to FINOS, aiming to streamline compliance and reduce UK banks' annual reporting costs of up to GBP £4.5 billion.

Bank fraud is projected to reach USD $48 billion globally by 2029, a 153% surge, driven by evolving AI tactics, says Juniper Research.

Transact Payments rebrands as TransactPay after a year-long transformation, aiming to strengthen its position as a premier BIN sponsor in the UK and Europe.

Lucinity unveils an advanced AI copilot plug-in at Money2020 Europe, promising instant ROI and up to 90% productivity boosts for financial institutions.

Centennial Bank partners with Newgen Software to digitise onboarding, enhancing customer experience with a streamlined, low-code automation solution.

A new report by Signicat and Consult Hyperion reveals the growing threat of AI-driven identity fraud across Europe, urging financial institutions to boost their defences.

Currencycloud and Pyvio are partnering to enhance cross-border payment solutions for Chinese eCommerce businesses, aiming to simplify transactions in emerging markets.

DataStax is set to revolutionise enterprise data with the upcoming launch of its Hyper-Converged Data Platform and DSE 6.9, promising advanced AI and vector search capabilities.

Report reveals increase in fraud cases amongst banks, with money laundering, account takeovers, and AI-generated threats posing significant risks.

Finastra partners with OpenFin to enhance the user experience on Kondor, Finastra's bank treasury management system, streamlining decision-making processes for banks.

AI-based analysis platform Bridgewise secures $21m in funding led by SIX Group, raising total capital to $35m to expand reach and enhance its AI technology for global security insights.

Global open banking leader, Ozone API, has formed a strategic partnership with Thistle Initiatives to help financial institutions achieve compliance with the forthcoming Third Payment Services Directive (PSD3).

Cogo partners with AI-firm Personetics, pioneering climate-conscious banking by aiding customers in understanding and managing their carbon footprints based on their spending habits.

Oracle unveils AI-powered Finance Services Compliance Agent to help banks combat a predicted $5.05tn in money laundering in 2024, through enhanced transaction monitoring and risk-control efficiency.

Amid growing fraud concerns, a study reveals 70% of financial institutions are turning to AI and machine learning to bolster defenses, marking a notable shift towards tech innovation.

Aryza Group unveils dynamic, standalone system, Aryza Decide, geared to revolutionise credit risk management in the lending industry and encouraging operational efficiency.

AIOps startup, Selector, unveils its Spring 2024 product with features like GenAI and advanced full-stack monitoring.

iManage, a London-based cloud services company, records impressive growth in 2023 with the addition of over 300 new customers and a 36% jump in annual recurring revenue.