AI
Airwallex Taps Generative AI to Speed Up KYC, Reduces False Positives by 50%
Payments company Airwallex has introduced a generative AI tool to improve its customer onboarding process. The new tool, which utilises large language models (LLMs), aims to expedite the company’s “Know Your Customer” (KYC) assessments. According to Airwallex, the introduction of
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A Leap into Generative AI for OCBC Bank with OCBC GPT Chatbot
OCBC Bank’s foray into artificial intelligence, spearheaded by Donald MacDonald, OCBC’s Head of Group Data Office, signifies a pivotal moment in the bank’s technological evolution. The recent introduction of OCBC GPT, its AI chatbot powered by Microsoft’s OpenAI, showcased the
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Singlife Achieves 35% Reduction in Data Analysis Costs with Qlik
Singapore’s homegrown financial firm Singlife has announced a partnership with Qlik, provider of a business analytics platform, to step up the speed of its digital claims process. Through Qlik’s cloud data integration and visualisation capabilities, Singlife employees gain access to
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AWS Powers Krungsri’s Transformation Into an AI-Driven Bank
Thailand’s Bank of Ayudhya Public Company Limited, commonly known as Krungsri Bank, has selected Amazon Web Services (AWS) to power its digital transformation efforts. Ranking among the top five banks in Thailand, Krungsri is working with AWS to leverage data
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Navigating the AI Minefield in Financial Fraud Battles
In an era marked by rapid and unrelenting technological advancements, the financial services industry finds itself at the forefront of a complex battle against financial fraud. The increasing availability of sophisticated AI tools has significantly transformed the cybersecurity landscape, arming
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How is Generative AI Transforming the Financial Industry?
The rise of Generative AI has been nothing short of remarkable. Many envisioned it as a powerful force for good from its inception, while others harboured concerns about its potential negative implications. Generative AI, with its ability to create content
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MAS Releases Executive Summary of Gen AI Risk Framework for Financial Sector
The Monetary Authority of Singapore (MAS) has wrapped up the first phase of Project MindForge, an initiative aimed at creating a risk framework for the use Generative Artificial Intelligence (Gen AI) in the financial sector. MAS had released an executive
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Data From Nasdaq-Backed Matter Reveals Negative ESG News Impacts Firms’ Market Value
Matter, an ESG and sustainability data provider backed by Nasdaq, has released new research findings that delve into market reactions to Environmental, Social, and Governance (ESG) news affecting companies. The study, conducted using Matter’s AI tool SDG Signals, examines the
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80% of Financial Firms Employ AI in Fraud Detection, Says Feedzai Report
Financial firms in the Asia Pacific region are taking steps to combat fraud, with 97% of organisations surveyed having some form of awareness programme in place. These finding are from a joint report by Feedzai, a financial fraud detection software
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MAS Unveils AI-Powered Tool ‘MVP’ for Sustainability-Linked Loans
The Monetary Authority of Singapore (MAS) announced the launch of the Minimum Viable Product (MVP) to assist banks in issuing Sustainability-Linked Loans (SLLs) in the real estate sector. The tool will help banks to address key challenges such as inaccurate
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