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Blockchain analysis firm Chainalysis has acquired Alterya , an AI-based fraud detection platform focused on identifying scams before they impact victims. Fraud detection faces new challenges with advanced technologies like generative AI enabling more complex scams.
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From the widespread use of AI and crypto in SMB payment systems to growing consumer appetite for real-time earned wage access (EWA) and biometric payments,Marqetassixth annual State of Payments report reveals that the UK is redefining both how money moves and what consumers expect from payments.
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As much as 86 per cent of financial professionals still rely on Microsoft Excel for budgeting and forecasting, while 75 per cent use manual reviews and approvals, according to new research from fintech solution provider PayEm. The responses were reflective of the use of outdated tools like Excel.
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UK-based financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners. Today’s funds add to Napier AI’s existing $55.8 Financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners.
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A recent study by Jumio , a provider AI-driven identity verification and compliance solutions, has found that a significant majority of Singapore consumers are concerned about the impact of deepfakes on the upcoming elections. It revealed that 83% of Singaporeans are concerned about for AI and deepfakes in politics, compared to 75% globally.
The adoption of digital payments is rapidly developing markets to the point that the value of B2B payments are set to grow by 40 per cent by 2028, from $89trillion in 2024 according to research from Juniper Research , the market research firm. This was restricting digital access and innovation.
With a lineup of high-profile events, niche summits, and exclusive networking opportunities, from the Singapore Fintech Festival one of the world’s largest fintech gatherings to deep-dive forums on Web3, AI in finance, and digital payments, these events will shape the future of fintech in Singapore and beyond.
New research from Economist Impact supported by Temenos has revealed that almost half of European banks are investing in fintech start-ups while 36 per cent are building their own greenfield digital bank or fintech company. The research also included interviews with industry practitioners to gain further insights.
per cent of transactions in 2024, with fraudsters increasingly leveraging artificial intelligence tools to target financial institutions, according to new research from AuthenticID, an identity verification provider. The use of deepfake technology and generative AI is also on the rise, compounding the threat range.
New research from RedCompass Labs , a world leader in payments modernization, has revealed that over half (54%) of banks are planning to leverage generative artificial intelligence (AI) for the shift to instant payments and other payments modernization projects, while four in ten (42%) are actively considering the possibility.
Prudential has announced an expanded strategic partnership with Google Cloud to introduce AI-driven products and applications aimed at enhancing experiences for customers, agents, and employees. The lab will provide Prudential’s 15,000 employees with tools and a structured environment to develop scalable AI products.
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According to research from fraud prevention platform Ravelin , the UK economy and businesses that reside within it are at great risk, as the UK’s online fraud presence has increased the most out of 10 countries surveyed in the past 12 months. AI-powered fraud Predictions about artificial intelligence-enabled fraud have been everywhere.
According to research from Silverfin , the cloud-first accountancy SaaS platform, UK accountancy firms could reclaim 48,000 in billable time per accountant each year by tackling these issues. But AI is showing promise, with 85 per cent of firms saying it is helping them save time, with the average time saved estimated to be nine per cent.
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In Vietnam, bank-owned apps are rapidly gaining popularity across all generations, outpacing independent fintech platforms like MoMo and ZaloPay, which are seeing a decline in usage and preference, according to a new report by Decision Lab, a Vietnamese market research firm. It now manages about 88% of user queries.
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Particularly since the release of OpenAI ‘s ChatGPT at the back-end of 2022, the world has sat up and taken notice of the potential of artificial intelligence (AI) to disrupt all industries in countless ways. How should firms be utilising AI in the near future to both ensure the best results for their business and to not be left behind?
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