Tag: Banks

FCA calls for stricter yet fairer treatment of politically exposed persons

The Financial Conduct Authority (FCA) has recently mandated that financial institutions, including banks, payment firms, and lenders, enhance their protocols to ensure fair treatment of politically exposed persons (PEPs).

How UK banks are missing the mark on effective cloud migration

A recent report by SaaScada found significant insights into the challenges UK banks face in migrating to cloud-based core banking systems.

Posh AI secures over $45m to enhance AI tools for banks...

Posh AI, a pioneering firm in the development of generative and conversational AI for financial services, has successfully raised over $45m in its latest investment round.

Vegapay raises $5.5m to boost card management platform and lending tech

Gurgaon-based fintech startup, Vegapay, has successfully raised $5.5m in seed funding, according to FinSMEs.

63% of Financial Institutions expect an increase in data costs in...

In a report published March 2024, Alveo polled 200 financial institutions about their current usage of data and AI. The respondents were split over...

FIs expect AI to impact data operations and data quality management...

In a report published March 2024, Alveo polled 200 firms about leveraging AI in data management. The respondents were split over the US, the...

How the world’s top banks and insurers are adopting GenAI tools

In recent years, the integration of generative artificial intelligence (GenAI) tools within the financial sector has seen remarkable growth. A study conducted by ORX, a leading operational risk association, reveals that 75% of the world’s major banks and insurers are now utilizing external GenAI applications in their operations.

Swedish FinTech apps see more downloads than incumbents from 2017-Feb 2024

Swedish FinTech apps saw a combined 21.0m downloads from 2017-Feb 2024. This means on average Swedes have downloaded two FinTech apps each (population 10.5m)....

Banks identify data as the biggest ESG challenge in 2024

As part of KPMG research, 111 banks from more than 20 countries have answered questions on their progress on and challenges with taking new...

Singaporean FinTech deal activity sees 42% drop in 2023

Key Singaporean FinTech investment stats in 2023: • Singaporean FinTech deal activity totalled at 135 transactions in 2023, a 42% reduction from 2022 • Singaporean FinTech...

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