Google Cloud wants banks to embrace artificial intelligence for flagging fraud. The company just released a new tool that does away with rules-based systems for AML compliance in favor of an AI-generated risk score based on a bank’s historical data. In a typical system, 95% of alerts for review turn out to be “false positives,” […]
Tag: Google
Confidential computing – which protects data while it’s actively being processed, not just when it’s stored or transferred – is making inroads with big banks for use in marketing, fraud detection, and cybersecurity. Confidential computing is starting to be adopted at major banks, thanks to efforts from cloud providers like Microsoft, Google, and IBM. This […]
Financial firms crave the many benefits of moving to the cloud, but it’s a difficult, slow, and expensive process. Google Cloud and Santander are betting that big institutions will buy battle-tested software that makes the transition easier. Nine in 10 financial institutions are working on their digital transformation, but the process of migrating applications to […]