Financial institutions stories - Page 11

Backbase forecasts a USD $1 trillion transformation in banking by 2025, urging traditional banks to innovate or face a 30% market share loss to digital rivals.

Futurex has teamed up with Cake, Vietnam's leading digital bank, to launch the country's first fully cloud-based Card Management System.

Morgan Stanley has partnered with Wise to enhance its foreign exchange settlement capabilities, marking a first for an investment bank in this area.

Radware is boosting its AI-driven security services for one of Italy's top five banks, aiming to combat rising cyber threats and comply with EU regulations.

Security and digital ID firm artius.iD appoints Stefan Krause, ex-CFO of BMW and Deutsche Bank, to its Board of Strategic Advisors amid growing cybersecurity challenges.

Pegasystems has unveiled the latest Pega Smart Investigate Enterprise Edition, enhancing banks' capabilities in processing payment exceptions with AI automation.

The Cloud Security Alliance's new report reveals that 78% of financial institutions use single-cloud systems, emphasising resilience amid rising cyber threats.

Zscaler's latest report reveals over 200 malicious apps in Google Play, urging organisations to enhance mobile security amid rising mobile threats.

Southeast Asia faced an alarming average of 146,944 web threats daily in H1 2024, with Malaysia leading at 19,615,255 incidents, Kaspersky warns.

A new report reveals a staggering 19% rise in global fraud attacks, largely fuelled by AI exploitation, highlighting urgent need for improved detection measures.

SAS teams up with the Association of Certified Fraud Examiners to advocate for anti-fraud AI during International Fraud Awareness Week amid rising fraud tactics.

Bitsight has acquired threat intelligence provider Cybersixgill for USD $115 million, bolstering its cybersecurity capabilities amid rising cyber risks.

As the EU's DORA regulation looms, financial firms are urged to bolster digital resilience or risk severe operational disruptions by January 2025.

AND Solutions has secured a software agreement with PT AEON Credit Service Indonesia to deliver AI-driven custom credit scoring solutions.

HID has acquired Italian firm IXLA, enhancing its portfolio in secure credential issuance and expanding its reach in European and emerging markets.

A report reveals that over 50% of financial institutions in Asia are failing to adopt AI for anti-money laundering, risking exposure to financial crime.

Ripple has unveiled RLUSD, a USD stablecoin for enterprises, launching it with key partners like Uphold and Bitstamp to ensure global access.

A report from fintech Neo reveals 95% of Payment Service Providers have faced account closures or restrictions, often without bank explanations.

Ripple has unveiled an update to its Custody platform, enhancing features for fintechs with improved security and real-time transaction monitoring.

A new report reveals that over 32% of financial institutions lack clarity in supplier management, increasing their risk amid tightening regulations.