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The past decade has seen the rise of the challenger bank. It’s an agile, tech-savvy new prospect designed to place the consumer at the centre of the financial universe and rob legacy institutions of their fiercely-guarded market hegemony. Whilst measures like PSD2 and the Capability and Innovation Fund have allowed numerous challenger banks to thrive…
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The recent news that the FCA is partnering with the Alan Turing Institute to explore the explainability of AI in financial services is a welcome development. While financial institutions are increasingly using AI to improve efficiency and productivity, there is little transparency in how so-called neural networks make decisions, putting organisations at risk of inaccurate…
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With the UK high street currently floundering amid falling consumer power and heightened import prices, the country’s retailers have happily followed the global trend of turning to digitalisation to improve their customer experience and find efficiency savings. However, these opportunities do not come without risks, and new analysis shows that the number of cyber breaches…