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Global economies can save $3.13 trillion by using AI to detect and prevent money laundering and terrorist financing, which costs trillions of dollars annually, according to the inaugural Napier AI / AML Index, published today. AI to detect money laundering The Napier AI / AML Index provides the industry’s most comprehensive insights into the impact of […]

When Goldman Sachs and Apple launched the Apple Card in 2019, they promised to deliver a new kind of credit card experience. Apple and Goldman – A cautionary tale Both companies, however, were new to consumer finance, and this ambitious partnership became a cautionary tale on the complexities of retail banking and regulatory oversight. The

In a new study published recently, we explain how explosive growth in instant payments will create both risk for banks, as well as opportunities for new products and services. However, banking systems need wholesale transformation to fully exploit this second digital revolution in financial services… Our new report, “Instant Payments: a second revolution in digital finance?” outlines how banks have

The European Central Bank (ECB) has unveiled a new set of initiatives designed to enhance cross-currency instant payments within the European Union (EU) and potentially expand these capabilities globally. Cross-currency instant payments initiative Built on the Eurosystem’s TARGET Instant Payment Settlement (TIPS) service, this ambitious project supports the G20’s objective of creating a faster, cheaper,

In a ground breaking move for African banking, Standard Bank, the continent’s largest bank by assets, has announced a partnership with Volante Technologies to advance payment modernisation across Africa. This ambitious project marks one of the largest Payments as a Service (PaaS) initiatives in history, covering 18 countries beyond the already live operations in South

Project Mandala, developed by the BIS Innovation Hub, is a compliance solution targeting the complexities of cross-border payments for both commercial and central banks. In its recent report on the project, which offers a highly detailed review, we can summarise by saying it has been deemed a success. This compliance-by-design framework aims to streamline the

The Global Payments Report 2025 by Ravelin offers a comprehensive overview of the evolving regulatory landscape in payments, highlighting significant developments in authentication, compliance, and fraud prevention worldwide. The report emphasises the global drive toward secure customer authentication (SCA) mandates, largely influenced by regulatory frameworks like Europe’s PSD2 and the upcoming PSD3. With SCA mandates

A new report delves into the escalating problem of synthetic identity fraud, often termed the “Frankenstein” fraud due to its complex construction of identities from real and fabricated data. This approach creates an entirely fictitious profile that passes credit checks, eluding traditional detection methods. In recent years, synthetic identity fraud has emerged as one of

The forecasted growth of Central Bank Digital Currencies (CBDCs) represents a shift in global payments, with predictions indicating CBDC transactions could surge from 307 million in 2024 to 7.8 billion by 2031. CBDCs on the rise This remarkable increase of 2,430% highlights a broader effort among central banks to strengthen monetary control and streamline cross-border

European banks are eyeing cross-border mergers again, despite the challenges that stalled similar moves in the past. European bank mergers back on the table The latest shift centres on UniCredit’s recent 9% stake in Germany’s Commerzbank. After acquiring shares from the German government and building up derivatives-based holdings, UniCredit may increase its position to 21%