Although last year saw a slight decline in fines administered for financial crime, the topic remains at the top of the regulator’s agendas. Considering that it takes around two years to collate a business case, there is no doubt that we’ll see further fines in 2024 or at least more reviews from regulators. 

Historically, the financial services sector has adopted technology at a slower rate, often due to the industry's highly regulated nature and the time and cost needed to implement a new IT solution. But if organisations have a customised large language model (LLM) in place, there is a real opportunity to maximise the value of their data to improve internal processes and evolve customer experiences.

The entire financial services industry has been in a state of upheaval for some time now - services are being reorganised and combined in new ways. Customers today have more choice than ever before. Technology has fundamentally changed people's perceptions, with many new offers on a wide variety of channels vying for customers' attention. This does not necessarily contribute to an increase in customer loyalty, but rather leads to continuous shifts in loyalty dynamics.

While two-thirds (64 percent) of Britain’s small-medium enterprises (SMEs) report their business has not expanded in the last three years, this stunt in growth hasn’t impacted their sense of optimism. In fact, almost seven in ten (69 percent) say they feel their business has potential for growth if they can overcome certain barriers.

Alpian, Switzerland's first premium digital bank, today announced significant milestones, including substantial growth, the completion of the last step of its pivotal Series C, totaling CHF 76M of which CHF 40M to be executed upon the regulatory approvals. This investment underscores confidence in Alpian's trajectory and will accelerate its growth and innovation in digital wealth management and banking services.

Pension savers are concerned over the risks Artificial Intelligence (AI) developments by tech giants Alphabet (owner of Google), Meta (owner of Facebook), and Amazon - could pose to society, as well as a lack of online content moderation, a PensionBee survey has revealed.

As fraudsters seek new ways to exploit technology, Mastercard is using generative AI to double the speed at which it can detect potentially compromised cards, further protecting cardholders and securing the ecosystem.