Artificial intelligence experts are advocating for safety legislation in California, while Australia is introducing a national AI regulation plan, marking a worldwide trend toward increased AI governance. Simultaneously, the U.S. Commerce Department is proposing new reporting requirements for advanced AI models, underscoring the mounting emphasis...
Last month’s arrest of Telegram CEO Pavel Durov spotlighted the platform’s ties to criminal activity. The crimes include people trafficking in weapons, stolen identities and child sexual abuse material. Add to that list another offense: returns fraud. Messaging apps like Telegram have become a popular...
The Consumer Financial Protection Bureau (CFPB) ordered TD Bank to pay about $28 million in redress and penalties, saying the bank provided consumer reporting agencies with information about its customers that was inaccurate and negative. A CFPB investigation determined that TD Bank repeatedly gave these...
Revolut enjoys the distinction of being the most valuable FinTech in Europe. But as a report Wednesday (Sept. 11) by Bloomberg News points out, the company has also been saddled with a less desirable title: it leads its competitors in complaints about authorized push payment (APP) scams....
Finexio and Unimarket have partnered to launch a payment risk assessment and management tool. The new Payment Risk Score (PRS) is designed to tackle payment fraud by offering enterprises a data-driven approach to assessing risk levels across common payment methods, the companies said in a...
Boost Payment Solutions has introduced a solution that allows enterprise buyers to use their existing U.S.-issued commercial cards to pay suppliers in more than 180 countries. The new Boost 100XB also enables financial institutions and program managers who issue commercial cards on U.S.-based BINs to expand the...
Google Cloud’s CEO says his company has several paths to monetizing artificial intelligence (AI). “We have seen 10-times growth year over year of people using our clusters,” Thomas Kurian said Tuesday (Sept. 10) at a Goldman Sachs tech conference. “Sixty percent of all AI startups...
If you’re tracking year-to-date news stories, Banking-as-a-Service (BaaS) has been in the hot seat. The situation surrounding the Synapse bankruptcy and the limited ripple effect it had on some of its partner banks and sponsor banks put the entire business model under a harsh light....
Small and medium-sized businesses (SMBs) need help with digital transformation and financial management in an uncertain business environment, and community banks and credit unions should see this as an opportunity that conservative estimates place north of $150 billion. “Let’s go back to times of crisis...
