Information Technology
Banks expand AI adoption amidst governance challenges
Banks expand AI adoption amidst governance challenges
AI adoption in banking is increasing, but leaders emphasise careful deployment.
Security Bank boosts women in tech through mentorship
Gender diversity in tech is on the rise.
Finance sector marketing budgets under pressure in 2024 amidst disruptions
Marketing expert tells three strategic approaches for turbulent times.
MUFG Bank fined $1.75m for info management lapses
Sister firm MUMSS was separately fined $1.4m.
Regulators' push to curb tech outages may boost bank expenses by 20%
Banks in South and Southeast Asia must enhance tech systems or face firmer penalties.
Malaysia’s central bank fines Bank of China for unapproved system relocation
The bank reportedly failed to obtain approval before relocating the systems.
DBS enhances gov’t grant payouts using blockchain for faster distribution
Once conditions are met, the cash is disbursed automatically.
BOCHK warns against suspicious SMS messages
It reminded customers that it will only send messages starting with a “#”.
Hong Kong central bank launches gen AI sandbox
Banks are encouraged to make full use of the sandbox.
India’s HDFC Bank warns against fraudulent trading platforms
Fraudsters would make fake platforms and apps showing fake returns.
The Importance of Digital Identity Management in the Finance Industry
Having a reliable and secure way to confirm the identity of customers has become crucial for financial institutions.
MAS “closely monitoring” global IT outage
Major banks reported little to no impact to customers and key operations.
Hong Kong process with plan to regulate stablecoin issuers
It has published a consultation paper based on 108 submissions.
Over 600,000 payment cards’ info stolen
Over 99% of stolen data include names, computer files, amongst others.
Data analytics key to SEA digital banks' profitability and retention
After the initial novelty and rewards, digibank users are likely to revert to their old bank.
NAB customer alerts lead to 17% decline in scam losses
Customers are said to have abandoned $100m in possible scam payments.
Financial firms to raise gen AI spending as they seek growth benefits
Despite hype, gen AI spending is low in 2023, at around $400,000 at its highest.
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