Insight Archives - New European Economy

The Future of Fraud Prevention: Is AI Ready to Lead the Charge?

Categories: Insight

What do banks and fintechs need to do to get fraud-fighting systems up to scratch? Alex Kelly, Vice President of Product at Tribe Payments, outlines whether AI is ready to fight fraud.

Artificial Intelligence (AI) is no longer science fiction. It’s now reality – and depending on who you talk to, AI is either the biggest threat to humanity, or the next evolutionary step towards limitless opportunity. It’s radically transforming our lives as individuals and our societies in ways that were unthinkable just a few years ago.

Mitigating Risk in Times of Trouble

Categories: Insight

By Jon Felce, Partner at Cooke, Young & Keidan LLP, a specialist commercial disputes firm based in the City of London

The last few years has witnessed the pandemic, the conflicts in Ukraine and Israel (and many other less publicised areas), and increasing political, economic and social uncertainty. Against that background, conducting business is perhaps fraught with more risk than has been the case in recent times. In these circumstances, parties legitimately have concerns about how they might protect themselves if things go wrong.

Nibnu Futur ta’ Fiduċja u Eċċellenza: Viżjoni għal BNF Bank

Categories: In Focus, Insight

“Peress li ninsabu fi ħdan pajsaġġ finanzjarju li qed jevolvi b’rata mgħaġġla, ninsab eċċitati u determinat li nmexxi lill-Bank tagħna f’futur li jkompli jibni r-reputazzjoni tagħna, japprofondixxi l-fiduċja stabbilita fost il-partijiet interessati, u jmexxina lejn għoli bla paragun ta’ eċċellenza fis-servizz,” ikkummenta s-Sur David. Power Chief Executive Officer fil-BNF Bank.

Il-vjaġġ tal-BNF Bank s’issa kien ikkaratterizzat minn reżiljenza, innovazzjoni, u impenn lejn il-klijenti tiegħu, u huwa fuq din il-pedament li t-tim tal-BNF huwa impenjat li jibni l-kapitolu li jmiss tal-istorja ta’ suċċess tal-Bank.

Why Human Behaviour is both a Cyber Threat and a Cyber Defence

Categories: Insight

The digital divide in cyber security is human. When we fail to acknowledge the reality of human behaviour, how people typically work, day to day, we risk undermining the progress of cybersecurity technologies and email is often the achilleas’ heel, according to Dave Adamson, CTO at Espria. According to the Mimecast state of email security 2023 report, phishing attempts soared by over 60% YoY.

Whilst collaboration tools like Teams and Slack are commonplace, they’re yet to universally replace email, which remains the primary way most businesses communicate internally and externally. Email is also a vulnerable target for cybercriminals due to its accessibility and the potential for human error. Consequently, email is an effective tool used by cybercriminals to spread spam, attempt phishing attacks and send attachments and links that automatically install malware on a user’s device.

FCA To Investigate The Treatment Of Peps By Banks

Categories: Insight

The FCA has launched a review on the treatment of domestic Politically Exposed Persons (PEPs), setting out issues that it will consider as part of their inquiry into banks and financial institutions to inform whether necessary action by the regulator is needed.

The FCA plans to review financial services firms, looking into the arrangements and processes they have in place when dealing with PEPs based in the UK, requiring the institutions under scrutiny to provide necessary information that is asked of them to prove compliance.

Building a Future of Trust and Excellence: A Vision for BNF Bank

Categories: Cover Story, Insight

“As we stand within a rapidly evolving financial landscape, I am excited and determined to lead our Bank into a future that continues to build our reputation, deepens established trust among stakeholders, and propels us toward unparalleled heights of service excellence,” commented Mr David Power Chief Executive Officer at BNF Bank.

BNF Bank’s journey thus far has been marked by resilience, innovation, and a commitment to its clients, and it is upon this foundation that the team at BNF are committed to build the next chapter of the Bank’s success story.

Preserving and Upholding Trust
“Trust is the cornerstone of any successful financial institution, and we are fortunate to have earned the trust of our esteemed clients, partners, and communities over the years,” noted Mr Power. This trust has been forged through the Bank’s dedication to transparency, integrity, and putting customers’ interests first. “By consistently delivering on our promises and fostering open communication, we will further solidify our position as a bank that can be relied upon in both calm and turbulent times,” he continued.

A Reputation For Accountability: Cook Islands Finance

Categories: Insight

Dominic Hale speaks to Alan Taylor, CEO of Cook Islands Finance about the unique features and benefits of the South Pacific jurisdiction’s unique suite of pioneering and innovative products and services for those focused on wealth building, management and protection.

The Cook Islands is synonymous with best-in-class transparency, accountancy and responsibility, yet remains the go-to IFC for those seeking privacy and protection. Alan Taylor explains the secrets to its success…”

Fintech’s Trillion-Dollar Forecast

Categories: Insight

Competition from fintech towards traditional finance continues to elevate the customer experience for so many across the globe – including those historically excluded from accessing financial services

By 2030, it is estimated that the global fintech industry will be worth in excess of $1.5 trillion. Despite a difficult 2022 for fintech and turbulence now being felt across banking services – fintech looks set to continue disrupting the way we approach finance in the coming years. This is according to CEO of Lanistar, Jeremy Baber.