How the Most Powerful Financial Institutions in the Apac Region Are Applying Artificial Intelligence
Financial institutions around the world seem to be most quick in bringing AI into the front-office… MEDICI recently conducted a study exploring some of the most common applications of AI across regions. Among other use cases of AI in Asian banking sector are … fraud prevention and compliance. OCBC Bank, for example, partnered with ThetaRay to use its AI solution to identify potentially suspicious transactions. The solution has reduced the volume of transactions reviewed by AML compliance analysts by 35%, and increased the accuracy rate of identifying suspicious transactions by more than 4X.