Artificial intelligence (AI) and machine learning (ML) can help financial organizations to get a competitive edge, increase customer satisfaction, and make more money. Read this article to get to know what exactly AI and ML can do for banks.

EUR Steadies; AUD, NZD Slip; EMFX mixed; USD/JPY Eases

BREAKING NEWS: Markets are crashing everywhere, stocks and currencies, there is likely a catalyst, we will know soon, but with all the pieces in place for a stock market correction and a higher US dollar already in place, there is the risk this can snow ball for weeks even months ahead.

Written by Colin Sims, Chief Operating Officer, Forter

Abuse is growing in volume and attention

Policy abuse is a recurring topic in my recent conversations. As eCommerce has grown rapidly, so have the types and amount of abuse.

Kevin O’Leary, notable for his role on Shark Tank, has made an about-face on digital assets. Originally a skeptic, the businessman has, this month, announced that nearly 10% of his portfolio is now invested in digital assets. O’Leary isn’t the only famous businessman to espouse the benefits of cryptocurrencies. Mark Cuban and Elon Musk, in particular, have long been cheerleaders for the new investment class.

Tinkoff has acquired a controlling stake (51%) in Just Look, the developer of Jump.Finance, a fintech service that automates interactions with freelancers, including payments.  

The deal was undertaken on behalf of Tinkoff Business, the branch of Tinkoff Group that services small, medium-sized and large businesses. Jump.Finance will be integrated into the Tinkoff Business ecosystem and retain its current team. The financial terms of the deal have not been disclosed. 

Interestingly, this year’s report reveals that External Fraud has entered the top five (from 9th place), replacing Business Continuity. The variety, volume, and sophistication of External Fraud attempts present an evolving and ever-present challenge in an economically turbulent environment.   

First crypto risk management platform for institutions, utilizes Cloverly, a sustainability-as-a-service platform, to help the crypto industry offset its environmental footprint.

• Performance of UK VC funds has increased sharply over the last 12 months

• Debt levels among variable workers* have increased by ten percentage points throughout the pandemic, with the number of variable workers with debts of between £5,000 and £10,000 more than doubling from 2020 (10% to 23%).
• Of the 25-34 year olds that expect to increase borrowing in the next six months, 31% need additional funds to buy Christmas gifts for friends and family.
• These groups of society are also more likely to use higher cost credit options, such as an unauthorised overdraft.