The watchdog met with financial regulatory authority FINMA, competition supervisor ComCo and the Swiss National Bank to review the takeover. The supervisor indicated that merger could lead to higher loan costs.
,The pricing supervisor’s office stated: “The price supervisor assumes that the merged major bank is aware of its social responsibility and will behave accordingly.”
,In May 2024, the UBS CEO stated that delays in IT and data integration during the merging process could lead to risks.
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.