Latest banks publications

Banks to use AI to sever terrorists’ funding

In an effort to combat terrorist activities, banks are planning to start using artificial intelligence (AI) and machine learning to identify suspicious transactions and sever funds to jihadists. QuantaVerse, a Pennsylvania-based technology firm, has developed an AI to monitor and identify financial crimes, from terrorist funding to money laundering. Speaking to WIRED, Dan Stitt, the… Read More

Lloyds finalises cloud outsourcing deal with IBM

Lloyds Bank has reportedly signed a ten-year deal with IBM to outsource data services to the IBM cloud. As part of the outsourcing, 1500 Lloyds employees and contractors will be moved over to IBM in September of this year. The full transfer of duties from Lloyds to IBM is expected to take approximately three years…. Read More

HSBC to offer robo-advice for investors

HSBC has announced plans to offer robo-advice to small investors. Clients with less than £15,000 will have access to the new service, which will offer advisement to online investors at a fraction of the cost of a traditional financial advisor. HSBC’s Online Investment Advice service is designed to give personalized, tailored financial recommendations to smaller… Read More

New cloud framework for mobile biometrics

Researchers from the IEEE have proposed a high-performance cluster cloud framework to help manage the mountains of data associated with mobile biometric authentication. In large-scale experimental tests, the team found that using a cloud-based biometric authentication framework, or BAMCloud, helped to achieve network speed performance of over eight times more than alternate methods, with a performance… Read More

EU report raises FinTech, blockchain concerns

A joint committee for the EU has released a report on Risks and Vulnerabilities in the EU Financial System, in which cybersecurity, including the rising use of blockchain technology, is marked as a major concern for the financial sector. One of the problems facing financial institutions is the increase in the adoption of mobile technology and the… Read More

Do NOT follow this link or you will be banned from the site!