AI

MAS Pushes for AI Innovation With Global Challenge Ahead of Its Fintech Festival

The Monetary Authority of Singapore (MAS) in collaboration with ASEAN Financial Innovation Network (AFIN) and Accenture has announced the launch of the inaugural Global Veritas Challenge where the theme revolves around “Codifying Responsible AI”. The competition seeks to accelerate the

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How Artificial Intelligence Can Improve Your Ability To Detect Fraud

Online merchants can no longer rely on simple rule-based engines to stop fraud. Utilizing artificial intelligence is essential in protecting your business from modern fraud attempts. The tactics used to commit card-not-present (CNP) fraud have changed dramatically in the last

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Bank of Singapore Taps SAS’ AI-Powered Communications Surveillance Analytics

American multinational developer of analytics software SAS announced that Bank of Singapore, a member of the OCBC Group, will implement its artificial intelligence (AI) powered communications surveillance analytics in their training and monitoring of client representatives’ performance. SAS’ Trade and

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UOB Co-Develops AI-Powered AML Solution With Tookitaki

UOB has co-developed an artificial intelligence (AI) powered anti-money laundering (AML) solution with Singaporean regtech company Tookitaki after more than two years of rigorous validation and evaluation. The solution is said to be highly accurate in identifying suspicious transactions and

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Study: APAC Financial Institutions Embrace AI/ML

In Asia Pacific (APAC), adoption of artificial intelligence (AI) and machine learning (ML) in financial markets is accelerating. Though organizations in the Americas still lead in terms of AI/ML maturity and investment levels, those in APAC follow closely behind, according

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Singapore Organizations Adopt AI, ML Amid COVID-19 Induced Uncertainties

Amid the COVID-19 pandemic, Singapore businesses are turning to artificial intelligence (AI) and machine learning (ML) to manage consumer credit risk and deal with economic uncertainties, according to a new research by information services company Experian. Experian, which surveyed 3,000

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Visa Harnesses AI to Reduce Transaction Declines by up to 50%

Visa announced its Smarter Stand-in Processing (Smarter STIP), a new capability that uses real-time artificial intelligence (AI) to help financial institutions manage transaction authorisations when service disruptions occur. Using deep learning to analyse past transactions, Smarter STIP generates informed decisions

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Will AI Trigger Massive Job Losses in Financial Services?

In financial services, the adoption of artificial intelligence (AI) is growing rapidly, bringing in a plethora of opportunities for customer experience and personalization. Yet, the question of regulation still lingers and must be addressed to tackle the potential risks of

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DBS Partners AWS To Future-Proof Employees With AI & Machine Learning Skills

DBS is taking steps to future-proof its workforce by announcing a collaboration with Amazon Web Services (AWS) to ensure its employees are equipped with fundamental skills in Artificial Intelligence (AI) and Machine Learning (ML) by the end of the year.

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Silent Eight Uses AI to Fight Financial Crime

COVID-19 continues to spread in Singapore with now more than 30,400 confirmed cases and over 20 deaths, according to the latest data from the John Hopkins University. Though the numbers continue to rise, with 614 new cases of COVID-19 infection

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