After minutes of training, algorithms were able to use 250,000 records of previously unseen raw data to predict regulatory reporting output with degrees of accuracy exceeding 99%.
A new paper develops a regulatory roadmap for addressing the increasing role of AI in finance, focusing on human involvement to deal with ‘black box’ issues.
Increased regulatory pressure and growing competition from new players could cost incumbent banks 5% of their revenue over the next 3-5 years, says a new report from Accenture.
The current approach to terrorist financing is one-dimensional, overly simplistic and outdated, says a new paper from RUSI's Centre for Financial Crime and Security Studies.
Peter Guy explores whether regulation, compliance and financial technology have improved risk management in the 25 years since Barings Bank's spectacular crash.
The guidance recommends a risk-based approach which relies on a set of assurance frameworks and technical standards for digital ID systems.
The IIF paper says fragmentation around climate risk assessment has emerged in the areas of prudential regulation and supervision, market and conduct regulation, taxonomy and disclosure.
Think tank Global Financial Integrity found $8.7tr in misinvoiced trade in the ten years from 2008 to 2017. Trade misinvoicing is one of the largest components of global illicit financial flows.
The HKMA has responded to the US rate cut with a cut of its own. The RBA and BNM have also cut their key policy rates, while the BOJ focuses on asset purchases.
The OECD recommends providing banks with liquidity to allow them to help companies with cash-flow problems, and to consider reducing reserve requirements.