Tag: AI

AI technology has taken the world by storm. While the technology can do wonders to improve compliance processes, myths surrounding AI’s use have gained weight and forced many to reconsider using it.

Talk of artificial intelligence was once an exciting prospect. The idea of bringing a hallmark of sci-fi fantasies into the real world sparked a lot of enthusiasm. While systems might not quite be on the same level as HAL from 2001: A Space Odyssey, the technology has brought a lot of changes to how businesses operate.

In a world that is becoming more digitalised, financial crime is growing to become an even bigger challenge than in the past, with new avenues opened for threat actors.

AI-powered financial fraud detection spending will exceed $10bn by 2027 as firms try to cope with increasingly complex attacks, according to a report from Juniper Research.

While AI is the top of technology discussions, there is still uncertainty around it. Aveni recently hosted a webinar ‘AI: Why an executive understanding is so important’, which can be watched here.

Face biometric verification and authentication technology developer iProov has partnered with AI-powered computer vision software provider Microblink.

In its most recent Consumer Duty Solutions Series Webinar, RegTech firm Aveni examined what a ‘data-driven’ regulator expects from a company in light of consumer duty.

Founded in 2018, RegTech firm Aveni claims it is leading a new era of risk assurance by enabling 100% digitisation and automation of the quality assurance process. The firm analyses every customer interaction to drive enhanced data insights, comprehensive risk oversight and process automation.

AI-driven cybersecurity platform Muninn has raised €2.5m in its seed funding round, which was led by Luminar Ventures.

AI-powered compliance company Ascent has teamed up with Onspring, a cloud-based business automation and real-time analytics platform.