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The ascension of generative AI (GenAI) tools, like ChatGPT and other so-called large language models, will likely shake-up the risk management profession, altering roles and responsibilities. Though...
November 3, 2023 | By Tod Ginnis
The rise of artificial intelligence tools over the past few years has improved modeling performance and has yielded risk management benefits across areas like fraud protection, anti-money laundering...
October 27, 2023 | By Jesús M. Gonzalez and Laura M. Gonzalez
Technology revolutions can arrive unanticipated, their risks mitigated reactively at best. Think about the internet, whose security vulnerabilities were exposed with mass adoption, and which...
September 8, 2023 | By David Weldon
Large language models (LLMs) like ChatGPT have vast potential in the financial sector. It’s a classic scenario of technology optimizing human work, not replacing it. These artificial intelligence...
August 25, 2023 | By Ani Chaudhuri
Artificial intelligence is turning the worlds of technology, business and government on their heads. All face strategic conundrums as, with ever-increasing power and visibility, large language models...
June 23, 2023 | By David Weldon
Large language models (LLMs) like OpenAI’s ChatGPT and Google’s Bard are becoming increasingly popular among individuals and firms looking to take advantage of the incredible power and efficiency...
June 9, 2023 | By Aaron Pinnick
Where is artificial intelligence? It can appear to be everywhere – note all the rage surrounding ChatGPT and generative AI – and yet it is far from the maturity and ubiquity that its visionaries say...
May 12, 2023 | By Michael Shashoua
Artificial intelligence is touted as a productivity enhancer and labor saver, but how solid is the evidence? Far away from the big financial centers and the institutions that invest most heavily in...
March 31, 2023 | By Jim Romeo
There is no question that artificial intelligence is a vital and growing topic that many businesses are looking at and implementing. From evaluating potential business deals to defending networks...
November 23, 2022 | By Alan Brill
Disrupt. Innovate. Accelerate. These are activities far more likely to be associated with technology and innovation than with risk management and compliance – except where entrepreneurs are shaking...
November 4, 2022 | By Katherine Heires
The hype surrounding a major upgrade of the Ethereum blockchain had been building for years, but mainly among crypto-market enthusiasts who worked on it or understood the technicalities. Closer to –...
September 23, 2022 | By Jeffrey Kutler
Fintechs are among the world’s most innovative companies. Innovation is moving so fast, in fact, that financial regulators are having trouble keeping up – but what are the risks of this disruptive...
September 9, 2022 | By Tod Ginnis
Machine-learning (ML) models have become increasingly prominent within financial services firms, and their adoption is unlikely to slow anytime soon. What does this mean for the employment prospects...
August 5, 2022 | By Tod Ginnis
Although artificial intelligence has been evolving and gaining commercial acceptance for decades, it is advancing at such a pace as to confound efforts to fully grasp its business, economic and...
July 15, 2022 | By David Weldon
Metaverse is one of the hottest buzzwords in technology. Given its potential impact on financial services firms, it’s a good idea to examine this new digital reality and to consider what it might...
April 15, 2022 | By Tod Ginnis
The invasion of the Ukraine by the Russian army was a sharp reminder that the world does not let us pause and recover from one crisis before delivering another; it would seem that, unfortunately,...
April 8, 2022 | By Peter Horne
For Ibrahim Dusi, chief risk officer for the Americas at Revolut, artificial intelligence and machine learning “are an important tool in our toolkit” for fighting fraud or identifying bad actors....
March 25, 2022 | By Katherine Heires
Today, financial institutions are using artificial intelligence (AI) and machine learning (ML) for everything from credit underwriting to fraud detection and anti-money laundering. It seems...
February 18, 2022 | By Tod Ginnis
Even as distributed ledger technology shows that it can deliver efficiency and risk management benefits in structured finance, the vision of a fully digital marketplace has been slow to take shape....
January 28, 2022 | By John Hintze
A boom year in cryptocurrency trading and digital-asset development is nearing an end, and there is no let-up in the market’s allure for ex-regulators embracing both pro-innovation and...
December 17, 2021 | By Jeffrey Kutler
The price of bitcoin can be wildly volatile. Cryptocurrency exchanges have been hacked and suffered outages. Some of those organizations hopscotch around the world to minimize regulatory oversight;...
September 3, 2021 | By Jeffrey Kutler
Like other leading market operators - and the investment community they serve - Deutsche BÖrse Group has been watching the emergence of crypto assets and setting strategy for jumping into the fray....
July 30, 2021 | By Jeffrey Kutler
If career moves by former regulators are signs of the times, then J. Christopher Giancarlo could be the contemporary archetype. His first major announcement, after stepping down in 2019 from the...
April 9, 2021 | By Jeffrey Kutler
The still unfolding saga of Bitcoin and other cryptocurrencies, while rife with speculation and skepticism, has given rise to a dynamic and growing class of digital asset products and entrepreneurial...
January 22, 2021 | By Jeffrey Kutler
Speed and competition are hallmarks of high-tech culture. The financial industry has sought to infuse these values into its fintech initiatives, and the regulatory community is following suit. As...
November 25, 2020 | By Jeffrey Kutler
In an effort to address the types of inefficiencies in the securitization market that helped fuel the subprime mortgage crisis, a pair of large financial services firms are now employing blockchain -...
October 2, 2020 | By John Hintze
The original cryptocurrency, Bitcoin, and its blockchain ledger are more than a decade old. Yet even as established institutions have deliberately made their way into the asset class and tested the...
August 28, 2020 | By Jeffrey Kutler
Many organizations are experimenting with, if not purposefully deploying, artificial intelligence. But what happens when those systems or the decision models they power go haywire, decay, or are...
July 31, 2020 | By Katherine Heires
Historically, financial regulatory agencies were anything but centers of innovation and were assumed to be a step or two behind the institutions they supervised, particularly when it came to...
July 24, 2020 | By Jeffrey Kutler
Money-laundering scandals have been the bane of financial institutions for two decades, and 2020 is proving no different. Faced with ever-increasing regulatory-enforcement actions, many firms...
June 5, 2020 | By Sven Stumbauer
The fanfare may not be quite what blockchain promoters were anticipating a few years ago, but the technology is gradually and noticeably establishing itself as a component of financial market...
May 29, 2020 | By Jeffrey Kutler
Today's business leaders are dealing with unprecedented levels of disruption and uncertainty. Focused on immediate concerns, organizations have prioritized establishing flexible and secure remote...
May 8, 2020 | By Phil Ratcliff
Speaking in March 2019 at a conference in Washington, Thomas Vartanian said technologies like artificial intelligence and big data would inevitably attract regulatory intervention. The longtime...
January 17, 2020 | By Ted Knutson
The New York State Department of Financial Services (DFS) and Basel Committee on Banking Supervision (BCBS) separately announced initiatives that underscore financial regulators' determination to be...
December 20, 2019 | By Jeffrey Kutler
Tremendous changes are taking place in the financial services industry. Data volumes are increasing, data availability is improving, information is being shared faster, and new methods of analysis...
December 6, 2019 | By Alla Gil
BenoÎt CoeurÉ, whose eight-year term on the European Central Bank executive board expires December 31, will move to the Bank for International Settlements as head of the BIS Innovation Hub, which was...
November 12, 2019 | By Jeffrey Kutler
Into his fourth month at the helm at the Commodity Futures Trading Commission, chairman Heath P. Tarbert is pushing the accelerator on the agency's technology and innovation. On October 10 he...
October 29, 2019 | By Jeffrey Kutler
Institutional investing and trading in crypto assets have been slow to take off, but not for lack of trying by the likes of Tassat Group. It is one of a number of ventures touting...
September 13, 2019 | By John Hintze
The consortium approach to financial blockchain business opportunities is gaining further validation as groups in the banking and insurance industries take their respective projects forward. Utility...
August 23, 2019 | By Juliette Fairley and Jeffrey Kutler
The Bank for International Settlements, which included in its 2019 Annual Economic Report an analysis titled Big Tech in Finance: Opportunities and Risks, has announced BIS Innovation Hub. It will...
July 12, 2019 | By Jeffrey Kutler
Can there be such a thing as an agile risk management function? The question is deeply important because competitive conditions are forcing more and more companies into agile and digital...
June 21, 2019 | By Haydn Shaughnessy and Fin Goulding
The general buzz around blockchain revolves around its long‐term potential to disrupt or displace traditional business processes or transaction flows. The near-term reality is that building blocks...
May 31, 2019 | By John Hintze
Cryptocurrency processor and digital-asset custodian BitGo has achieved the SOC 2 Type 2 security certification, saying it will provide an edge in attracting institutional investor interest. The...
May 3, 2019 | By Jeffrey Kutler
Innovation is a top priority throughout the financial services industry. At BNP Paribas it is pervasive, with a bank-wide “club” of chief innovation officers, hackathons and other organized programs,...
April 26, 2019 | By Jeffrey Kutler
Despite fluctuations in cryptocurrency prices - or perhaps because of their ongoing volatility and uncertainty - global regulatory authorities continue to monitor and sound warnings on financial...
April 18, 2019 | By John Hintze
Cloud computing services, for all their popularity, economics and operational advantages, still require special technology and risk management attention. In other words, nothing should be assumed to...
April 12, 2019 | By Ted Knutson
Regulation has barely begun to have an impact in areas of big data and artificial intelligence, but veteran financial industry lawyer and technology expert Thomas Vartanian said it is only matter of...
March 29, 2019 | By Ted Knutson
Cybersecurity threats are a clear and present danger to businesses, governments and critical infrastructures. The National Institute of Standards and Technology made a significant contribution to...
March 29, 2019 | By Jeffrey Kutler
Amid continuing debate over the viability of blockchain technology in financial services, online retailer Overstock.com's capital-markets-focused tZERO is pressing ahead. The venture has laid out...
March 22, 2019 | By John Hintze
Artificial intelligence is growing rapidly and could have a transformational impact on the banking industry, but according to McKinsey & Co. risk practice experts, it is not a risk-free event. If...
March 15, 2019 | By Katherine Heires
In 13 months on the Securities and Exchange Commission, Hester M. Peirce has pushed for openness to innovation, even criticizing the SEC majority last July for rejecting the listing of a Bitcoin...
February 15, 2019 | By Ted Knutson
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