article thumbnail

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

article thumbnail

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.

Security 146
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 Lessons We Learned at the Nacha Smarter Faster Payment Conference

South State Correspondent

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. As such, the National Security Agency (NSA ) is calling for banks to be compliant by 2030.

article thumbnail

Financial Crime: Technology can Transform Compliance

FICO

In our experience these technologies can increase the number of SARs by 20% while at the same time producing efficiency gains of 30% in alert investigation and case management. Financial crimes compliance has often been seen as a mere cost-center activity, and a “check-the-box” exercise to keep auditors and regulators satisfied.

article thumbnail

AI/BOT: Man Versus Artificial Intelligence

PYMNTS

Since the advent of technology, the age-old battle of man versus machine has been an issue. Whether it’s televisions entering homes in the mid-20th-century or personal computers coming onto the scene in the late 1980s, technology has no doubt had an effect on everyday life.

Study 171
article thumbnail

Subaru CEO Says Electric Vehicle Demand Is Lagging

PYMNTS

Nakamura expressed frustration at the apparent schism between the environmental regulations Subaru is expected to uphold and the demands of customers. Nakamura said that Subaru was working with parent company Toyota on new hybrid technologies, which would be released later this decade.

article thumbnail

Central Bankers’ Report Focuses On Friction In Cross-Border Payments

PYMNTS

” The CPMI report said that cross-border payments are set to increase from $20 trillion in 2019 to $30 trillion by 2030. “While improvements to technology are one piece of the puzzle, international cooperation and collaboration will be crucial to reduce cross-border frictions,” it noted.

Report 150