COMPLIANCE
Google’s Anti-Money Laundering AI
Google is releasing an AI-tool to help financial institutions with anti-money laundering. It’s already being deployed at HSBC in London and Brazil’s Banco Bradesco. The AI should be a boost to fighting anti-money laundering considering the job the humans are doing… (…ducks for cover, just kidding…or am I?).
AI
Banks Looking at How to Leverage Generative AI
Despite the initial caution (which is definitely warranted), bank execs are now focusing on how to leverage generative AI tools in the industry. It makes sense when you understand that such a data-intensive industry is ripe for AI assistance.
Not to mention those AI bots won’t party as hard nor care about the bonuses they get.
MARKETS
European Countries Hike Rates to New Highs
The Bank of England raised interest rates by 50bps reaching 5%, Norway and Switzerland also raised rates to its highest in a decade. Hold on to your yield curves everyone.
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