Fintech Analyst Report - Issue 312

Kapronasia: Singapore and its efforts fighting financial crime 
Singapore has been grappling with a surge in financial crime since the pandemic, including its largest ever money laundering case. Although authorities have seized over US$2.2 billion, online scams remain a significant challenge. 

Datos Insights: Trends in fraud for 2024 
Fraud leaders are adjusting strategies to counter increased fraud attacks, causing disruptions in the fraud ecosystem. Key changes include shifts in investment patterns, enhanced collaboration among financial institutions and regulators, and the influence of public perception on financial crime.  

Coalition Greenwich: Fund managers prioritise ESG  
ESG investing serves as a crucial factor for generating long-term returns for some, a component of risk management for others, and a means to drive positive global change for many. It’s essential to recognise regional and asset class differences to equip portfolio managers with the necessary technology and data solutions. 

Forrester: Generative AI in banking 
GenAI holds various applications in banking, such as customer service, marketing, and fraud detection, promising to boost operational efficiency. Yet, banks must prioritise use cases for experimentation and ensure GenAI doesn't generate biased content to safeguard their reputation.  

Datos Insights: Shifting preferences in bill payment 
Payers don't prefer online banking bill pay due to its limited functionality. Datos Insights research reveals that 76% of online bills are paid directly at billers' websites, while only 22% use bank bill pay. 

Forrester: Financial services firms to include disability in their DEI efforts 
US financial firms should understand and cater to the financial needs of people with disabilities, using their skills to improve services and seize opportunities. Prioritising disability inclusion boosts innovation efforts. 

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