Information Technology

Principled AI key to transformation of financial services

Principled AI key to transformation of financial services

Companies must be transparent and fair to maintain trust and mitigate reputational risks.
2 days ago

Ant Int’l launches digital sustainability scorecard for MSMEs

The scorecard offers actionable insights for MSMEs to enhance ESG credibility.

Over half of banking executives struggle with data silos: report

This is due to technological barriers and cost constraints.

PH cybercrime body, JuanHand ink MOA on combat fintech lending cybercrime

They will develop a data and information sharing mechanism.

Swift to launch AI fraud detection service in 2025

Global fraud in financial services is estimated to have cost $485b in 2023.

Banks expand AI adoption amidst governance challenges

AI adoption in banking is increasing, but leaders emphasise careful deployment.

Finance sector marketing budgets under pressure in 2024 amidst disruptions

Marketing expert tells three strategic approaches for turbulent times.

MUFG Bank fined $1.75m for info management lapses

Sister firm MUMSS was separately fined $1.4m.

Regulators' push to curb tech outages may boost bank expenses by 20%

Banks in South and Southeast Asia must enhance tech systems or face firmer penalties.

Malaysia’s central bank fines Bank of China for unapproved system relocation

The bank reportedly failed to obtain approval before relocating the systems.

DBS enhances gov’t grant payouts using blockchain for faster distribution

Once conditions are met, the cash is disbursed automatically.

BOCHK warns against suspicious SMS messages

It reminded customers that it will only send messages starting with a “#”.

Hong Kong central bank launches gen AI sandbox

Banks are encouraged to make full use of the sandbox.

India’s HDFC Bank warns against fraudulent trading platforms

Fraudsters would make fake platforms and apps showing fake returns.

The Importance of Digital Identity Management in the Finance Industry

Having a reliable and secure way to confirm the identity of customers has become crucial for financial institutions. 

MAS “closely monitoring” global IT outage

Major banks reported little to no impact to customers and key operations.