The digitalisation and entry of Big Tech into finance create new vulnerabilities and amplify existing risks in the banking system that may need new rules to mitigate, global banking regulators said. The growth of cloud computing, whereby key banking services...
In 2023, carbon pricing revenues reached a record $104 billion, according to the World Bank’s annual “State and Trends of Carbon Pricing 2024” report released. There are now 75 carbon pricing instruments in operation worldwide. Over half of the collected...
Japan's exports rose for a fifth straight month in April, helped by a boost in value from the weak yen, government data showed, but shipment volumes struggled as soft demand weighed on growth. The trade data clouds policymakers' hopes for...
Banking co-operative Swift is working with global banks on AI pilots to tackle cross-border payments fraud. In the first pilot, Swift is enhancing its existing Payment Controls service - which helps financial institutions detect anomalies that could be indicative of...
Royal Bank of Canada(RBC) said it earned $3.95 billion up from $3.68 billion in the same quarter last year. "This quarter, we saw strong growth across diversified revenue streams," said chief executive Dave McKay on an earnings call. He said the...
Singapore's economy grew 2.7% year-on-year in the first quarter of 2024, the quickest pace in 18 months, data showed as the government said it expected manufacturing and trade-related sectors to improve over the course of 2024. The growth matched a...
Net gains from sales of securities jumped over 800% over the period. Japan’s Norinchukin Bank saw its profits rise to JPY63.6b (approximately $405.77m) for the fiscal year of 2023, JPY12.6b ($80.38m) higher than a year earlier, its latest financial results...
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...
