Tag: Data privacy

As artificial intelligence continues to transform industries, financial services firms are facing a familiar dilemma: should they build their own AI solutions or buy...

Say you're planning your next holiday. You order a ride-hailing service to the airport, check into a home rented via a short-term rental platform,...

Responsible AI encompasses the ethical development and application of artificial intelligence, prioritizing transparency, fairness, and legality across its operations. For the financial sector, this means deploying AI technologies that are not only efficient but also equitable and devoid of biases, ensuring that individual rights are respected throughout their lifecycle.

BlackCloak, a cybersecurity company based in Orlando, Florida, which specialises in protecting high-profile individuals and executives from digital threats, has received an investment from The LegalTech Fund.

The landscape of compliance is evolving rapidly, and gone are the days when compliance officers solely relied on manual processes and traditional methods. Artificial intelligence (AI) is redefining the field, offering significant advancements in efficiency and automation, alongside introducing new complexities and regulatory concerns.

As 2025 unfolds, financial institutions face an evolving array of challenges. The recent Executive Perspectives on Top Risks Study conducted by Protiviti and NC State University, which garnered insights from over 1,200 board members and executives, sheds light on the primary concerns encompassing financial crime compliance, AI integration, and increasing regulatory oversight.

In the US, KYB is not just a regulatory requirement but a fundamental practice critical for maintaining the integrity of financial operations and fostering trust within the business ecosystem.

AI in insurance market is expected to grow from $8.13bn in 2024 to $141.44bn by 2034, driven by investments in AI-powered risk assessment...

The implementation of the 6AMLD on June 3, 2021, marked a significant escalation in the accountability of financial institutions across European Member States.

The growing adoption of artificial intelligence (AI) in governance, risk, and compliance (GRC) programs is reshaping how organisations manage regulatory requirements. Specialised language models (SLMs) are emerging as a more secure and efficient alternative to large language models (LLMs) like ChatGPT and Gemini Pro, addressing critical concerns related to data privacy, accuracy, and control.