The terms “Fraud” and “Anti-Money Laundering (AML)” are frequently used in the complicated world of financial services. They are often used together when discussing financial crime, compliance, and regulatory measures. Even though both detection and prevention of Fraud and AML are crucial in keeping the financial system safe, understanding their different jobs, goals, and ways […]
Continue ReadingIn an era where environmental sustainability has become a global priority, understanding the impact of our actions on the planet is more crucial than ever. This extends beyond the obvious sectors like transportation, energy, and agriculture to areas we might not immediately consider, such as the financial sector. The concept of calculating the carbon footprint […]
Continue ReadingIn an increasingly globalized world, the need for efficient, cost-effective cross-border transactions has never been more pressing. Businesses and individuals seek ways to send and receive payments internationally without the hefty fees, long wait times, and currency exchange risks associated with traditional banking systems. This is where the concepts of On-Demand Liquidity (ODL) and stablecoins […]
Continue ReadingCentral Bank Digital Currencies (CBDCs) are rapidly emerging as a pivotal innovation in the financial landscape, poised to redefine the way we perceive and use money in the digital era. As nations around the globe explore the potential of CBDCs, understanding their nature, benefits, and challenges becomes essential. This introductory blog aims to demystify CBDCs, […]
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In a transformative move, X, formerly known as Twitter, is set to roll out peer-to-peer payments within the platform this year. The company envisions this addition as a significant enhancement to user experience, offering more utility to its users, fostering new commerce opportunities, and exemplifying the concept of consolidating various life experiences within a single […]
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In September 2020, the European Commission unveiled a groundbreaking initiative aimed at revolutionizing digital risk management for financial entities and critical ICT service providers. The Digital Operational Resilience Act (DORA), formally known as Regulation (EU) 2022/2554, represents a significant leap forward in fortifying digital operational resilience within the financial sector. DORA officially came into force […]
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The consultation paper from the UK’s Department for Science, Innovation and Technology (DSIT) proposes a pro-innovation framework that aims to balance the risks and benefits of AI, while supporting the UK’s leadership in AI research and development. The document outlines the following key elements of the proposed framework: The document invites individuals and organisations to […]
Continue ReadingIntroduction: In exploring the intricate partnership between Artificial Intelligence (AI) and the payments landscape, we’ve traversed realms of secure transactions, fraud prevention, enhanced customer experiences, and predictive analytics on financial health. Today, our focus deepens into the core of security, spotlighting how AI, with its adept orchestration of biometric authentication, ensures a foundation of trust […]
Continue ReadingIntroduction: In exploring the relationship between Artificial Intelligence (AI) and the realm of payments, we’ve traversed the landscape of secure transactions, fraud prevention, enhanced customer experiences, and personalized recommendations. Now, our journey takes us deeper into the financial tapestry of customers and Small and Medium-sized Enterprises (SMEs). This instalment focuses on how AI, through predictive […]
Continue ReadingIntroduction: Continuing our exploration of the transformative power of Artificial Intelligence (AI) in payments, we have previously uncovered its role in fortifying transactions, detecting and preventing fraud, and enhancing overall customer experiences. In this instalment, we focus on a captivating facet of AI’s influence on payments – how it orchestrates a symphony of personalized recommendations […]
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