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Chinese Finance Group Calls For AI Regulation In Ecosystem

PYMNTS

The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says. We should not deify artificial intelligence as it could go wrong just like any other technology,” Gang said. billion by 2023, up from an estimated $4.5

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UN Rule Mandates Connected Cars Be Secured Against Cyberattacks

PYMNTS

Japan said it would begin implementing the rules next year, and South Korea plans to introduce some regulations this year. wasn’t a party to the regulations, American auto makers will have to abide by the rules to sell cars in countries that have the new guidelines. billion in 2030, WSJ reported. And while the U.S.

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The Banking Crisis of 2023 is Over — Time to Get Back to the Crisis of the ’20s

Gonzobanker

This decade-long crisis touches banks’ products, technologies, people, processes and the political climate. Rising interest rates depress the value of low-rate securities and loans. Banks had more than $500 billion in unrealized losses on their securities at the end of March. In an article titled Is the Banking Crisis Over?

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How To Build A Digital ID In Layers

PYMNTS

In perhaps the most sweeping example, the member states of the United Nations have embraced, as part of “sustainable development goals,” a target to “provide legal identity for all, including birth registration,” by 2030. The initiative will be on hold until the government enacts new laws that would safeguard data security.

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Online Liquor Sales Are Booming – Can Digital ID Keep Up?

PYMNTS

Securing alcohol is one of the grand adventures of life, especially if a person is younger than the legal age to buy. For those plans to succeed, however, a robust system of digital ID is necessary, lest regulators and parents decide such a retail activity is unsafe for children, and take steps to pull it back.

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3 in 5 APAC Banks Do Not Have Full Digital Account Opening

FICO

The region’s changing regulations (28%) and the need to create digital know-your-customer (KYC) and anti-money laundering (AML) (21%) solutions were cited as the two key challenges for APAC banks looking to acquire new customers online. “In Full Digital Account Opening – Challenges. by FICO.

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Trulioo Teams With Refinitiv To Bring 5B Consumers Into The Financial Mainstream

PYMNTS

The technology helps to ensure compliance with anti-money laundering (AML) and other compliance regulations, and Refinitiv is among the biggest players in this space. There is no shortage of “enterprises trying to solve for 2030,” Ufford said. They keep solving for 10 years out, but people are suffering drastically now.”.

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