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Shocking Survey Exposes UK Consumers’ Security Fears About Real-Time Payments
A recent FICO survey highlights UK consumer perceptions of real-time payments (RTP), revealing that while 79% have sent and 73% received RTP, 23% are unsure about transaction security. The UK lags behind global RTP usage, with only 16% using it for business-to-person transactions compared to 31% globally. Only 35% of UK respondents believe RTP is more secure than credit cards, compared to 51% globally. Experts stress the need for banks to enhance security measures and educate consumers. Strategies to boost adoption include using scam protection technologies and tailored communication, aiming to build trust and confidence in RTP.
Unlocking Wealth Management Success: The Power of Data Ownership
Data ownership is becoming essential in wealth management, enabling both wealth managers and retail investors to control their financial information effectively. Fredrik Davéus, CEO of Kidbrooke, emphasizes that the power of data lies in its application, urging investors to utilize it for improved decision-making. Wealth management firms are adopting unified data systems to avoid fragmentation and enhance data quality. Katy Gibson from Morningstar Wealth highlights the benefits of firm-owned data, including portability and scalability. Retail investors also gain from data ownership, with initiatives like a universal investor profile ID card improving efficiency. Overall, embracing data ownership enhances decision-making and personalized investment experiences.
Leveraging AI Technology: How Financial Institutions Can Overcome Key Risks in 2025
As 2025 progresses, financial institutions face significant challenges in financial crime compliance, AI integration, and regulatory scrutiny, according to a Protiviti and NC State University study of over 1,200 executives. Key insights reveal increased regulatory focus on AI risks, complex compliance landscapes, and cybersecurity threats. Institutions must address a shortage of AI expertise and navigate economic uncertainties. Balancing privacy with data utilization is critical, necessitating privacy-preserving AI techniques. To remain competitive, financial organizations should adopt AI-driven risk intelligence and proactive compliance strategies to effectively manage these evolving challenges.
MIB Group Boosts Underwriting with Clareto Acquisition from Munich Re for Enhanced Electronic Health Record Integration
MIB Group has acquired Clareto, a medical record retrieval company, from Munich Re Life US to enhance its electronic health records (EHR) capabilities for life insurance underwriting. This acquisition aims to improve data access and analytics, facilitating more automated risk assessments. Although financial details were not disclosed, integrating Clareto’s expertise into MIB’s EHR platform will provide broader access to medical data and improve the underwriting process. Leaders from both MIB and Munich Re emphasized the partnership’s potential to streamline underwriting data acquisition, accelerate decision-making, and enhance customer satisfaction within the life insurance sector.
Unique AI Raises $30M in Series A Funding to Revolutionize FinTech with Innovative Agentic AI Solutions
Unique AI has successfully closed a $30 million Series A funding round, raising its total investment to $53 million since its inception in 2021. Led by CommerzVentures and DN Capital, the funding will accelerate Unique AI’s global expansion and enhance its FinTech offerings. The company develops an advanced agentic AI platform for financial institutions, featuring 25 specialized use cases and customizable agents to improve efficiency and compliance. Notable clients include Pictet Group, which has reported significant efficiency gains. Additionally, Dana Ritter has been appointed as the new Chief Product Officer, effective April 2025.
Revolut Revolutionizes HR Tech: Unleashing AI-Powered Hiring and Performance Solutions
Revolut, the digital banking FinTech, is enhancing its recruitment and performance review processes with innovative AI tools. These advancements, integrated into its internal People platform, aim to streamline HR functions such as automated interviews and real-time performance feedback. Launched commercially in 2023, the AI platform targets businesses in the UK and EEA, focusing on talent development and employee engagement. It also plays a vital role in performance evaluations by aggregating data from various sources. Revolut’s commitment to balancing AI capabilities with human interaction highlights its goal to transform HR practices and improve talent management efficiency.