It was a valuable coincidence that the Reserve Bank of India (RBI) amended Know Your Customer (KYC) rules in January of this year to allow for remote video-based KYC checks for banks and other financial institutions. Only weeks later, remote working requirements hit as a...
It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech...
Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help. But...
The U.S. Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. In some ways, the risks facing banks are longstanding: Non-traditional...
February 23, 2023
JPMorgan Chase reportedly doesn’t want its employees to chat with ChatGPT. CNN reported Wednesday (Feb. 22) that the bank has restricted its global staff’s use of OpenAI’s artificial intelligence (AI)-powered chatbot. The bank’s decision was driven by compliance concerns around the use of third-party software, according to the report, which cited an unnamed source. Because […]
