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Category: Operational


Capital and Risk, Operational

Opus CEO Praveen TM on driving AI transformation in banking and payments

April 10, 2024

Via: FinTech Futures

In an era where technology is reshaping the world of banking and payments, Opus Technologies is making waves through innovation. The company has launched a host of platforms and solutions to democratise artificial intelligence (AI) adoption among banks and credit […]


Capital and Risk, Operational

CFPB publishes new report highlighting risks related to financial transactions in video games

April 8, 2024

Via: FinTech Futures

Titled Banking in Video Games and Virtual Worlds, the new study reveals that gaming consumers in America spent nearly $57 billion on hardware, software, and in-game transactions in 2023. Gamers are often exchanging real dollars for virtual currencies or other […]


Capital and Risk, Operational

First Abu Dhabi Bank partners Microsoft to develop new AI-powered banking capabilities

April 3, 2024

Via: FinTech Futures

The bank is tapping Microsoft’s cloud-based Azure AI services to build and operate what it calls an “AI Innovation Hub”, with the aim of further integrating the technology into its product suite and back-end operations. Microsoft previously engaged in a […]


Capital and Risk, Operational

MAS unveils new Cosmic platform to help banks defend against terrorism financing and money laundering

April 3, 2024

Via: FinTech Futures

Cosmic was co-developed by MAS and six commercial Singaporean banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered Bank – with these financial institutions being the first to implement the solution during its initial phase. MAS states that information […]


Activity, Capital and Risk, Operational, Retail Banking

Missouri’s Central Bank taps Personetics for AI-powered money management solution

March 28, 2024

Via: FinTech Futures

Central Bank states that the move will enable it to deliver goal-oriented savings and wellness programmes to its digital users, offer real-time personalised financial advice and introduce an improved money management hub. Daniel Westhues, executive VP and CMO at Central […]


Capital and Risk, Operational

Banking apps fall short on fraud protections: report

March 14, 2024

Via: Payments Dive

For the report, Consumer Reports evaluated the mobile banking apps of five large traditional banks: Bank of America, Capital One, JPMorgan Chase, U.S. Bank and Wells Fargo, as well as those of five digital banks: Albert, Ally, Chime, Current and […]


Capital and Risk, Operational

The history of banking technology vs the history of banking experience

March 1, 2024

Via: FinTech Futures

Back in 1957, 1TB of storage capacity would have cost $9.2 billion, while 1TB of memory would have cost $411 trillion. Today, the same storage and memory capacity costs just $14 and $2,100, respectively. Banking has evolved in lockstep. We […]


Capital and Risk, Operational

FedNow draws some banks, as others lag

January 19, 2024

Via: Banking Dive

The Federal Reserve has made headway in adding banks to its new FedNow system, with a tally of 400 participating financial institutions, but some of the biggest U.S. banks are still on the sidelines six months after the instant payments […]


Capital and Risk, Operational

Redwood Capital Bank selects Apiture to power online and mobile banking

January 11, 2024

Via: FinTech Futures

The bank has adopted the Apiture digital banking platform to expand its presence beyond its current communication channels of branch and telephone-based banking, in line with the growing customer preference for digital banking options. Apiture’s cloud-based platform includes five different […]


Capital and Risk, Operational

Retail Mortgage Lender loanDepot Struggles With Cyberattack

January 10, 2024

Via: Insurance Journal

The U.S. retail mortgage lender loanDepot is struggling to recover from a cyberattack that impacted its loan processing and phone service. In a filing on Monday with the Securities and Exchange Commission, the company said data was encrypted by the […]


Capital and Risk, Operational

Instant payments, BaaS and GenAI: A fintech industry review of 2023

December 20, 2023

Via: FinTech Futures

With the end of 2023 on the horizon, FinTech Futures takes a look back over a year full of highs, lows, innovations, challenges, and transformative moments across the fintech landscape, featuring insights from the likes of JP Morgan Chase, Citi, […]


Capital and Risk, Operational

Neobank Dave’s new chatbot achieves 89% resolution rate, CEO says

December 13, 2023

Via: Banking Dive

While Dave, a neobank and personal finance app, has been using artificial intelligence to underwrite its products since the company’s inception in 2017, the fintech’s latest use of generative AI is producing promising results on the platform’s customer service side, […]


Capital and Risk, Operational

Goldman Lampe Private Bank Leverages Advanced AI for Enhanced Security and Investment Insight

December 7, 2023

Via: TechBullion

In a groundbreaking move within the finance sector, Goldman Lampe Private Bank has unveiled innovative AI-driven tools designed to significantly boost its fraud detection systems and augment the analytical capabilities of its asset managers. Advancing Fraud Detection with AI Confronting […]


Capital and Risk, Operational

The Future of Insurtech: Innovations in Business and Financial Security

November 21, 2023

Via: TechBullion

The landscape of the insurance industry has undergone a transformative evolution with the advent of Insurtech, a dynamic blend of insurance and technology. This amalgamation has not only disrupted traditional business models but has also paved the way for innovative […]


Capital and Risk, Operational

S&K Observations and Practical Recommendations on Wire Transfer Fraud

November 15, 2023

Via: JD Supra

Risk Trend This risk alert highlights a recent trend of criminals using fraudulent wire transfer schemes to target financial institutions and the steps that clients can take to mitigate this increasing risk. We have observed this trend affecting investment managers […]


Capital and Risk, Operational

Chinese banking giant’s US arm hit by ransomware attack

November 10, 2023

Via: Banking Dive

“Immediately upon discovering the incident, ICBC FS disconnected and isolated impacted systems to contain the incident,” the bank said in a statement. The firm, whose clients include hedge funds, broker-dealers and global banks, said it is investigating the attack and […]


Capital and Risk, Operational

What bank, fintech execs are saying about AI

October 30, 2023

Via: Banking Dive

President Joe Biden is expected to sign an executive order on Monday aimed at regulating the development of artificial intelligence. The landmark order sets “new standards for AI safety and security, protects Americans’ privacy, advances equity and civil rights, stands […]


Capital and Risk, Operational

Embedded Finance: Should Banks Overthrow Intermediaries and Reclaim Control?

October 27, 2023

Via: Bank Director

Well, everyone is talking about a $7 trillion opportunity in embedded finance. This colossal figure is enticing enough for several banks to hop on the bandwagon without even validating if they are truly prepared to be active competitors or if […]


Capital and Risk, Operational

US-based Honor Bank goes live on nCino’s commercial banking platform

October 11, 2023

Via: FinTech Futures

The Michigan-based bank says it was looking to modernise its technology stack and utilise a “more modern” and “customer-centric” solution, and since choosing nCino, has been able to streamline operations, enhance its customer experience and strengthen its “competitive edge” in […]


Capital and Risk, Channels, Operational

Fed’s Waller pushes back on criticism of FedNow’s adoption rate

October 11, 2023

Via: Payments Dive

Participation in the Federal Reserve’s real-time payment settlement service, FedNow, has expanded from an initial group of 50 banks and credit unions to more than 100, Fed Gov. Christopher Waller said Friday at a payments conference held by the Brookings […]