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,” […]

By helping businesses better manage their corporate cards, HSBC is targeting a key demographic that banks are currently underserving. Partnering with Extend allows it to majorly upgrade its SMB offering with less effort than through internal development. HSBC just announced a partnership with fintech Extend that will give its US business clients access to virtual cards with […]

Tech tools that use automation to compile and analyze data allow lenders to make approvals much faster, without increasing risk – which ultimately allows them to serve more businesses (with greater returns). HSBC has rolled out a digital platform for collateral-based receivables finance lending that it co-created with fintech Trade Ledger to make it simpler, […]

Different countries have very different credit reporting systems, which means that lenders may struggle with the underwriting necessary to approve immigrants for credit cards, loans, or other bank services. Nova Credit’s software integrates and standardizes international credit data, which ultimately reduces the effort and cost for lenders to serve these customers. HSBC is working with […]

Partnering with fast-moving fintechs can help incumbent banks roll out sleek digital tools to impress existing customers and win-over new ones. If you can’t beat them, join them: HSBC just made a $35 million strategic investment in UK challenger bank Monese through its corporate venture arm.   HSBC’s investment is just the latest example of a […]

SWIFT mines its vast data flows to detect and flag the most common cause of cross-border payment delays: Errors in payee information. This capability is made possible thanks to SWIFT’s near-ubiquity as a bank-to-bank messaging platform, underscoring the benefits of analyzing massive datasets. In its quest to enable real-time international payments, SWIFT has launched a […]