Financial Services stories - Page 62

A new report by Everfox reveals a major shift towards preventative cybersecurity strategies in US and UK regulated sectors, with 97% of organisations facing cyber incidents.

A new survey shows tech professionals in London earn an average salary of GBP £120,000, highlighting the city's status as a thriving technology hub.

Forrester forecasts global technology spending will surge to USD $4.9 trillion by 2025, driven by advancements in software, AI, and cloud tech.

Kapwork has launched its innovative Kapwork Verify platform to automate invoice factoring, claiming a potential 20% cut in operational costs for businesses.

Aerospike has launched Database 8, enhancing its multi-model distributed system to ensure real-time performance and strict consistency for enterprise applications.

PAYSTRAX has appointed Tom Suter as Regional Sales Director for the UK, aiming to boost its expansion across the UK and European markets.

A report reveals that 59% of cyber breaches in the top 150 insurance firms stem from third-party attacks, exposing serious supply chain vulnerabilities.

New research shows that 58% of large UK financial services firms faced third-party supply chain attacks in 2024, with nearly a quarter seeing multiple incidents.

The Depository Trust & Clearing Corporation has unveiled ComposerX, a groundbreaking suite aimed at streamlining digital asset management for financial firms.

Puma Growth Partners has led a $4.3 million funding round for Semeris, enhancing its AI tools for financial institutions navigating complex legal documents.

UBS has launched its first Global Entrepreneur Report, revealing that 62% of entrepreneurs see AI as their greatest business opportunity amidst economic uncertainties.

Encompass has unveiled its EC360 platform to revolutionise corporate client verification in banking, addressing outdated processes amid rising competition.

The BSV Association has appointed Ásgeir Óskarsson as its new Managing Director, bringing over ten years of expertise in finance, insurance, and blockchain.

The European Union's Artificial Intelligence Act will take effect on 2nd February, banning high-risk AI uses like facial recognition and social scoring.

KYND, a London-based insurtech firm, urges the financial services to enhance long-term cyber resilience as the EU's Digital Operational Resilience Act takes effect.

In the financial services sector, back-office operations are often neglected, yet innovations in AI could unlock their vital potential for driving growth.

As corporate banking undergoes a digital transformation, real-time KYC processes powered by Corporate Digital Identity are set to significantly enhance operational efficiency.

Keyless has secured an additional USD $2 million, raising total funding to USD $10 million, to enhance its biometric services and expand in North America.

French platform Pigment has partnered with Deloitte to deliver AI-driven planning solutions, enhancing corporate agility amid rapid market changes.

In 2024, AI innovations are set to revolutionise sectors like finance and public services, predicting substantial changes and savings of up to GBP £200 billion by 2025.