New research from Economist Impact supported by Temenos finds that European banks are fighting back against competition from platform players, neobanks and payment providers. According to the study, “Challenging the challengers: Europe’s banks face the competition”, almost half (43%) are investing in fintech start-ups and a third (36%) are building their own greenfield digital bank […]
The analysts calculated the value of fintech investment in GDP per capita of the GCC region using Tracxn data on funds raised by fintech companies. In 2022, the UAE was a leader with a significant gap – $636.4 (1.01%) in GDP per capita came from fintech. It was followed by Bahrain with $89 (0.24%) and […]
Over half of UK businesses experienced a cyber breach in 2023 despite an overwhelming majority having deployed multi-factor authentication (MFA), a new study has revealed. Cybersecurity firm IDEE commissioned an independent survey of more than 500 IT and cybersecurity professionals within UK businesses. The research found that 95% of businesses have deployed some form of […]
NatWest has become the first UK bank to be named as a supplier on the Crown Commercial Service’s (CCS) new Dynamic Purchasing System (DPS) for Open Banking services. This DPS will be accessible by all public sector entities in the UK including central government, local authorities, NHS, police, education providers, devolved administrations and charities. The […]
New research reveals that the majority (52%) of financial services employees feel positive or very positive about the growth of AI, and 62% say learning to use new technologies increases their motivation at work. More than half (56%) are also confident they have the necessary skills to work with more AI tools. The research, which […]
Benjamin Reid, CBI director of technology and Innovation, said: “The government should be applauded for listening to the CBI and other industry voices in avoiding the temptation to rush to legislate in the AI space. “Setting a clear path towards an agile, principles-based approach to regulation will not only allow firms to make the most […]
With the deadline to implement Basel IV just a year away for many banks, Cloudera, the data company for trusted enterprise artificial intelligence (AI), is urging banks to adopt a modern data architecture. This follows recent research from Cloudera that shows compliance is the main data management concern for 80% of EMEA IT decision makers […]
Tymit, a pioneer of instalment credit cards, and leading credit reference agency Equifax have announced a new Open Banking partnership to support affordability decisions and transparency for Tymit’s credit products in the UK. This partnership, leveraging the power of Equifax’s Open Banking solutions, allows Tymit to improve the accuracy of affordability decisions with real-time insights […]
New research from EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, reveals that the vast majority (89%) of insurance and banking firms in the UK have launched AI point solutions and proofs of concept over the past year, but suggests that data optimisation must be a greater priority to achieve […]
Recent reports suggest AI investments are predicted to approach $200bn globally by 2025, with countries competing to enjoy the benefits artificial intelligence has on productivity and the economy. Which countries have invested the most in AI between 2019 to 2023? AI statistics from AIPRM compared the investment of each country with the United States, who […]
