99% of CFOs Report Cyber Incidents, Boosting Fintech Spend

New research commissioned by global S&P500 corporate payments company, Corpay, finds that 99% of UK finance leaders surveyed have experienced payments-related cyber incidents in the past two years, exposing the fragility of legacy systems and an urgent need for change. With finance functions now a frontline target, the research saw ‘cybersecurity threats’ attract the largest percentage of responses (42%) from surveyed CFOs when asked what operational risk they were most concerned about over the next...

ParaScript, BIRGER. Bring AI Check Tech to Mauritius Banks

ParaScript, an AI-powered document processing company, has partnered with BIRGER., a trusted provider of innovative technology solutions in the Eastern African region. The collaboration will help commercial banks in Mauritius automate high-volume check processing while strengthening fraud detection capabilities. BIRGER. has successfully deployed check truncation solutions across several banks in Mauritius. As banks seek to reduce manual processes, lower operational costs and strengthen fraud defenses, BIRGER. identified the need for advanced check processing technology that balances...

FIS-Oxford Report: 78% of Businesses Using AI to Combat Fraud

78% of global business and technology leaders reported that their use of artificial intelligence (AI) has helped improve fraud detection and risk management. 56% said they are scaling or fully implementing AI, and 45% plan to increase investment over the next two years. High implementation and maintenance costs and lack of in-house expertise are slowing wider adoption. Global business and technology leaders are already seeing benefits from the use of AI and automation, with over...

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