Technology

Asia is leading the world in constructing high-speed rail networks, with China beating speed records as it extends its rail lines within and without its borders. China isn’t keeping its rail technology to itself but sharing it with its neighbours as part of its Belt and Road Initiative, increasing prosperity and cooperation in the region.

The prediction that artificial intelligence would eventually replace human workers seems to be becoming a reality as generative AI gains footholds in every industry. Reassurances that “enhancing, not replacing” is AI’s end goal in the workplace may fall on deaf ears as workers from all fields demand protections from this evolving threat.

BaaS is growing along with e-commerce, and so are the misconceptions: embedded banking and BaaS are the same; all BaaS providers have compliance expertise; providers are licensed in the same way; BaaS is only a payment solution; BaaS providers’ tech stacks are the same; BaaS has only B2C applications; and BaaS will end traditional banking.

As technology pushes businesses into hybrid operations, demands for financial institutions to migrate data and upgrade systems increase. Many face challenges as they’re operating with outdated IAM. While legacy systems support the core functions of managing authorisations and access, usability, adaptability and auditability risks persist.

AI is reshaping all industries as it captivates the public with its limitless potential. Many in financial services have strong reservations about the technology, but it is here and is not going away. How can banks harness the opportunities of AI, from reducing costs to maximizing the customer experience, while managing its shortcomings?

The increasing frequency of authorised push payment fraud has prompted UK regulators to take aggressive actions to thwart it and protect consumers. However, their solution requiring banks and other payment service providers to reimburse consumers for fraudulent transactions may trigger responses that have widespread negative repercussions.

As the Fourth Industrial Revolution sets in, investment banks should employ Industry 4.0 technologies, accompanied by cybersecurity measures, to improve capital-market operations via automated trading, data-centered decision-making and tailored investment strategies, improving customers’ experiences while reducing costs and inefficiencies.

A mine isn’t the safest place to be, but the products of the mining industry are more in demand than ever. Technology is helping the industry become safer, more efficient and less costly. Drone technology, collision-avoidance systems, artificial intelligence and digital twinning are four innovations revolutionising the mining industry.

Consumers worldwide are adopting alternative payment methods, with Latin America’s population leading the way in their demands for diverse payment options, from traditional cash to eCash. Merchants in the region are being challenged to provide customers with varied payment ecosystems that meet their preferences, including mobile wallets.

The financial industry’s risk-management and compliance functions are crucial in our complicated world of increasing risks and regulations, but staying on top of them involves hours of time-consuming, mundane tasks. Generative AI is rapidly developing the capabilities to adopt this routine work, but at this early stage, is it too risky?