Financial institutions stories - Page 2

US banks boost AI spending to combat rising check fraud, linked to USD $12.5 billion loss, ahead of the holiday season peak in fraudulent activities.

The US, UK and Australia have sanctioned Russian web-host Media Land and its leaders for aiding ransomware attacks via bulletproof hosting services.

A survey of 1,500+ professionals reveals trust, compliance, and identity assurance as crucial for mainstream adoption of Web3 wallets and digital asset services.

BioCatch launches Connect 2.0, a platform using behavioural and device data to fight rising digital banking fraud and AI-driven financial crimes globally.

Asia-Pacific firms are rapidly adopting autonomous AI agents, raising new cybersecurity risks linked to managing AI system identities and access permissions.

Entersekt launches Orkestrate API, helping banks cut fraud risk worth USD $40 billion by simplifying digital authentication with a single integration.

AI-driven identity fraud in the UK has surged over 2,100% since 2021, with synthetic identities risking a £4.2 billion cost by 2027 without stricter screening.

Financial firms face rising fines and must adopt digital regulatory reporting to ensure compliance, cut costs and boost operational resilience in 2024 and beyond.

Cleanverse International launches a compliance-native layer in Singapore, linking verified identities to stablecoins for regulated, traceable on-chain finance.

AI chatbots like ChatGPT are criticised for providing misleading UK financial advice due to outdated data and lack of context on tax and insurance matters.

eflow Global launches PATH AI, enhancing trade surveillance with transparent, auditable alerts amid USD $1.8bn market abuse fines globally this year.

Companies House’s 12-month rollout of director ID checks risks burdening banks with costly double-checks amid potential gaps in company verification.

Financial institutions face rising AI-driven cyberattacks and must adopt intelligence-led defence, active vendor management, and balance security with customer experience.

Banks and credit unions are shifting from transaction rewards to building trust and personalised relationships, using AI to anticipate customer needs and enhance loyalty.

APP fraud, rising to 42% of UK losses in 2025, causes £2,300 lost per minute, urging banks and tech firms to boost joint防efforts.

Evercomm and CTBC have launched PATHMATCH, an AI platform helping banks measure and manage financed emissions for net zero transition financing.

Australian businesses face rising ransomware threats amid a 16% surge in cyber attack reports, exposing widespread unpreparedness and urging urgent security reforms.

Financial firms are embracing AI with a focus on trust, using it to enhance customer service and support staff, not cut jobs, amid growing governance concerns.

Nearly 80% of financial firms have neglected to verify exit plans of cloud and SaaS providers, risking major disruption in their technology supply chains.

Adclear secures GBP £2.1 million to expand its AI-powered platform that automates compliance for major UK financial institutions' marketing content.