Spanish banking group BBVA is stepping up its use of artificial intelligence, signing a deal with OpenAI to start rolling out ChatGPT to thousands of employees. The first European bank to forge an alliance with OpenAI, BBVA has already begun...
Maybank said it achieved a higher bottomline in the first quarter ended March 31, 2024, as it registered higher core fees as well as an increase in treasury and market gains. In the quarter under review, the country's largest bank...
AI-based data security platform Velotix has secured funding from Barclays Bank and Capri Ventures. A former graduate of the Barclays Rise Growth Academy, New York-based Velotix automates policy enforcement for global organisations and provides context-based access to data through advanced...
Markets drive industry AUM higher, net flows positive for large firms. Strong markets powered assets under management (AUM) for the U.S. fund industry to near-record levels in the first quarter, but the sector’s rating outlook remains negative, according to Moody’s...
Tougher capital rules may lead to sharply lower lending. Adopting the latest global capital requirements over the next two years could push Canada’s big banks to shed assets and slash lending at a time when the need for financing is...
Malaysia and Indonesia are amongst the world’s top Islamic finance markets. The global Islamic finance industry is on the right path to grow into a $6.7t industry by 2027, according to a 2024 report by the London Stock Exchange Group...
The types of business which are most likely to use artificial intelligence are seeing growth in workers' productivity that is almost five times faster than elsewhere, raising hopes for a boost to the broader economy, accountancy firm PwC said. Productivity...
Prudent macroeconomic and financial sector policies will further strengthen Qatar’s resilience with average growth expected to be lifted to around 4.5 per cent in the medium term by the significant LNG production expansion and initial gains from implementing NDS3,...
Increasing interconnectivity increases complexity and opacity. Digitalisation is creating new vulnerabilities and amplifying existing risks for banks, warned the Basel Committee on Banking Supervision in a new report. Many of the new technologies and their applications are data intensive and require...
Pakistan’s economy grew 2.09 per cent in the third quarter of the financial year 2023-2024, supported by higher growth in agriculture, the Pakistan Bureau of Statistics said in a press release. The estimated provisional growth rate of gross domestic product...
