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Jul 29, 2024 | 
finextra.com | Eldad Tamir |Raktim Singh |Abhishek Bhasin |Aleksandra Kitina
Fighting fraud is like playing a game of cat and mouse. But what if the 'mouse' could learn the cat's every move? Machine learning in fraud detection creates a system that constantly gets better at spotting fraudulent transactions, no matter how the fraudsters
try to disguise them. This technology has been around for a while, with the first system appearing in 1992. Today, fraud-detection systems are foundational in global financial services.
Why are machines so good at catching fraudsters?
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Jul 28, 2024 | 
finextra.com | Raktim Singh |Abhishek Bhasin |Aleksandra Kitina |Garima Chaudhary
A recent CNBC/Generation Lab survey illuminates a stark reality: while many young adults recognize the stock market as a vital tool for wealth accumulation, a similar number are not actively saving for retirement. This gap between awareness and action highlights
broader challenges of financial engagement among millennials and Gen Z, who often face limited investment capacity due to precarious financial stability.
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Jul 25, 2024 | 
finextra.com | Raktim Singh |Abhishek Bhasin |Aleksandra Kitina |Garima Chaudhary
As someone who's been following the AI industry closely, I have to say the new European Union AI Act has really caught my attention. It's a beast of a document; 458 pages and 113 articles! When I first heard about it, I thought, "Well, there goes my weekend
reading." But jokes aside, this is a big deal, folks. It's probably the most ambitious attempt to regulate AI that we've seen so far.
What's the Act All About?
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Jul 24, 2024 | 
finextra.com | Abhishek Bhasin |Aleksandra Kitina |Garima Chaudhary |José Pierre
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Neuro-symbolic AI is a unique form of artificial intelligence that combines the strengths of neural and symbolic AI architectures.
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Jul 23, 2024 | 
finextra.com | Abhishek Bhasin |Aleksandra Kitina |Garima Chaudhary |José Pierre
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The success of a small business depends on a healthy cash flow.
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Jul 22, 2024 | 
finextra.com | Aleksandra Kitina |Garima Chaudhary |José Pierre |Ruban Phukan
Artificial Intelligence (AI) has emerged as a game-changer in the financial services industry, revolutionising traditional banking practices and unlocking new opportunities for innovation and efficiency. In this article, we explore the transformative impact
of AI on various facets of financial services and its potential to reshape the future of banking.
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May 13, 2024 | 
finextra.com | Brandon Spear |Ahmad Almoosa |Max Koretskiy |Aleksandra Kitina
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External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
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May 13, 2024 | 
finextra.com | Brandon Spear |Ahmad Almoosa |Max Koretskiy |Aleksandra Kitina
In the rapidly evolving landscape of financial services, credit unions face a unique set of challenges and opportunities. While committed to their member-first ethos and community focus, credit unions must navigate an increasingly digital world.
Modernization is not just an option; it’s essential for survival and growth. Here’s how embracing technology can benefit credit unions and help them thrive in the digital age. Modern members expect seamless, personalized interactions.
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May 10, 2024 | 
finextra.com | Brandon Spear |Ahmad Almoosa |Max Koretskiy |Aleksandra Kitina
In today’s financial landscape, Credit Union Service Organizations (CUSOs) face significant challenges that stem from outdated technological infrastructures. As digital transformation reshapes the banking sector, CUSOs not yet transformed are encountering
several critical issues:
Inefficiencies in Operations
Legacy systems are not designed to handle the volume or complexity of today’s banking transactions, leading to slower processing times and increased operational costs.
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May 7, 2024 | 
finextra.com | Shiv Nanda |Jacobo Weizenblut |Aleksandra Kitina |Lorena Duguid
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Business KYC plays a crucial role in fraud mitigation in the business world.
