Financial
Financial services introducing AI but hindered by data issues
According to research by EXL, around 89 percent of insurance and banking firms in the UK have introduced AI solutions over the past year. However, issues with data optimisation could hinder their impact. The researchers surveyed executives at top UK insurers and lenders about their AI strategies and found that 44 percent have deployed AI…
Mike Novogratz Seeking More Crypto Bankruptcy Assets: Financial Times
“We have a crypto venture team that has been investing off our balance sheet for five years,” Kurz said, according to the newspaper. “The record that we have on that side of our asset management business means we’d be a good candidate for something like that.” Source link
Financial Stability Oversight Council Reiterates Call for Legislation to Address Crypto Risks
FSOC, a financial stability watchdog composed of the heads of most major U.S. financial regulators, published its annual report after one of the group’s meetings, taking a look at the past year in climate, banking, cybersecurity, artificial intelligence and other issues. As it has in years past, crypto received a section. Source link
South Korea Financial Regulator Proposes Consumer Protection Rules for Crypto Users
The rules are scheduled to take affect on July 19 next year. Source link
Growth of Asset Tokenization on Blockchains Could Lead to Greater Risks to Financial Stability: Bank of England
That increasing size could pose risks for the wider financial environment, the bank said. The boom could “increase the interconnectedness of markets for crypto assets and traditional financial assets (since they are represented on the same ledger); and create direct exposures for systemic institutions,” the report said. Source link