Gen AI takes over finance: The leading applications and their challenges
admin2024-11-11T10:54:45-05:00How banks can harness the power of GenAI Switzerland However, alongside these benefits come substantial cybersecurity risks that must be managed to protect sensitive financial information and maintain trust in banking institutions. Model governance across financial crime models should be prioritised, with technology providers aiding in resource allocation and quality control. Providers also play a key role in supporting clients by offering detection tuning and effectiveness testing, enabling organisations to respond quickly to changes in risk and keep pace with regulatory expectations. This partnership ensures that top management gains insight into risk management, enhancing the organisation’s ability to mitigate financial crime [...]