Using payments data, privacy-enhancing technologies, AI and enhanced cooperation for a behavioural-based analysis approach to detecting money laundering networks is more effective than the current rules-based approach, concludes new research from the BIS Innovation Hub.

Nubank is doubling down on its AI-first strategy with the acquisition of Silicon Valley-based data intelligence outfit Hyperplane for an undisclosed fee.

Deutsche Bank is setting up an environmental, social and governance (ESG) centre of excellence in Singapore.

Alibaba Group has cancelled its plans to spin-off its cloud division due to uncertainties from US exports on AI chips.

Nationwide Building Society has put back the launch of its business account to later in the year as it continues testing of its mobile app and builds an Open Banking-powered switching tool.

The US Office of Financial Research (OFR) has launched a climate data and analytics hub pilot to help regulators assess risks to financial stability stemming from climate change.

Kuwait International Bank has become the first lender to commercially roll out a biometric payments card using technology from Norwegian outfit Zwipe.

Danske Bank is to phase out all existing payment cards and replace them with cards made from 86% recycled plastic.

Lloyds Bank is to make managing household bills easier for mortgage customers through a partnership with ApTap, a fintech startup graduate of the bank’s ‘Launch’ innovation programme.

Bloomberg has launched an App Portal that gives its 315,000 desktop terminal subscribers access to applications created by third party developers.

Revenue derived from cryptocurrency-related crime is down by 65% in the first half of 2022 compared to the corresponding period in 2021.

The UK Government has formally launched a ‘call for evidence’ on the benefits of greater data sharing and use of open data in banking, as part of moves to support the growth of Britain’s emerging fintech sector and deliver better deals for customers.

Google Cloud has launched a rapid response AI chatbot to help organisations, such as banks, handle ballooning customer service queries during the Covid-19 pandemic.

As the tax year end approaches, UK Finance’s Take Five to Stop Fraud campaign is urging businesses to stay vigilant against CEO and mandate scams – key tactics used by fraudsters to target businesses.

Sberbank is teaming up with the Russian Ministry of Emergency Situations to host a hackathon where contestants will use machine learning and AI in the fight against wildfires.