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Why Banks Must Turn to Artificial Intelligence and Machine Learning in their Hour of Need

As both businesses and society today continue to embrace digitisation at an uncontrollable rate; fighting financial crime, money laundering and the funding of criminal activity are all growing in importance.

The global phenomenon of digitisation has led to an increase in wire banking, thus raising pressure on banks and financial institutions to monitor and detect suspicious activity to prevent it coming to fruition. It is therefore crucial that the banking system today adopts the latest tools for a mature digital service, which include self-learning capabilities that are able to quickly adapt to the ever-changing banking environment.