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Sectors exposed to AI experience five times higher growth in labour productivity

21 h

SIX Digital Exchange hits one bill Swiss franc digital asset milestone

23 h

Polly integrates with nCino’s mortgage suite

20 May

Broadridge hires Simona Vitali as sales lead for Investor insights and Communication suite

20 May

DTCC leads fund tokenisation pilot

16 May

4Most plots global expansion

16 May

Basel Committee publishes report on the digitalisation of finance

16 May

io.finnet Launches digital asset custody services for institutional investors

16 May

New York Stock Exchange launches Nyse Tech Council

15 May

Carmoola appoints former Deutsche Bank MD Frédéric de Benoist as director of capital markets

15 May

More /markets announcements »

FE fundinfo acquires German fintech Dericon

FE fundinfo, a financial data platform for the asset management industry, has acquired German WealthTech Dericon.

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AI should be trained to respect a regulatory 'constitution' says BofE policy maker

Resolving the challenges of cross-border payments

Plenitude acquires Contineo Financial Risk Solutions

EFG Hermes acquires minority stake in Danish fintech Kenzi Wealth

JPMorgan to give AI training to all new hires

TCF 2024 day 2: ESG, AI, and the market outlook

FCA charges reality TV stars over 'finfluencer' campaign

Cube acquires global regulatory intelligence businesses from Thomson Reuters

Nasdaq boosts market surveillance with GenAI

Deutsche Bank joins MAS-led asset tokenisation project

[Upcoming Webinar] Embedded Finance: Valuable Partnerships and Opportunities for Payments

[Upcoming Webinar] Embedded Finance: Valuable Partnerships and Opportunities for Payments

Markets blogs

Capital Markets Technology

“Nobody gets fired for buying IBM”

Guy Melamed

Guy Melamed - Exberry - London

Artificial Intelligence and Financial Services

The importance of real-time market data in modern investment decisions

Eldad Tamir

Eldad Tamir - FINQ - Tel Aviv

Analytics in Banking

Five Fundamental Characteristics of Attractive Investment Stocks

Max Koretskiy

Max Koretskiy - Blackshield Capital Group - London

Adaptation to the New Market Paradigm Is a Key for Asset Managers to Prosper

Julia Khandoshko

Julia Khandoshko - Mind Money - Limassol

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Latest TV

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Resolving the challenges of cross-border payments

Join FinextraTV live at NextGen Nordics 2024 with Patrik Havander, Head of Visa B2B Connect Europe, as we delve into the landscape of B2B cross-border payments. Discover how banks are adapting to maintain B2B payment volumes amidst declining retail payments, explore emerging technologies shaping the future of cross-border transactions, and learn what steps banks can take today to stay ahead in the ever-evolving payments landscape.

Driving Natural Capital Investment: Acquiring Ten Estates, 30,000 Acres in Two Years

Join Richard Stockdale, Founder of Oxygen Conservation, as he discusses the company's rapid expansion and innovative land acquisition strategy in an interview with Richard Peers of ResponsibleRisk. Through data-driven approaches and Natural Capital Financing, Oxygen Capital is spearheading regenerative practices, prioritizing community involvement and knowledge sharing.

Climate Scorpion: The Sting is in the Tail - Introducing Planetary Insolvency

Sandy Trust, Head of Organisational Risk at M&G, and Lucy Saye, Actuarial Manager at Deloitte, and previous chair at the IFoA Sustainability Board, present the 'Climate Scorpion' report. This report follows the IoFA and University of Exeter's 'The Emperor's New Climate Scenarios' paper, challenging the accuracy of NGFS and CBES scenarios. In this in-depth FinextraTV Unplugged interview with Richard Peers, ResponsibleRisk, they delve into tipping points, cascading risks, and the potential for positive tipping points, exploring the uncertainty surrounding Carbon budgets and their underlying assumptions. Given the Earth's complexity, climate modeling remains uncertain. The interview discusses how financial institutions and corporations can plan amid this uncertainty.

Exploring UK Fintech: Growth, Disruption, and Future Trends

At IFGS 2024, Clare Gambardella, Chief Customer Officer at Zopa Bank, breaks down the success factors driving the UK fintech scene. From regulatory agility to consumer demand and access to funding, we discuss what sets the UK apart, major tech disruptors such as contactless payments and open banking, and the evolving needs of the next generation of consumers.

The long read

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Scott Hamilton

US Federal Reserve leaves interest rates unchanged, what’s next for banks and customers?

Scott Hamilton - Contributing Editor, Finextra

Discussion

AI should be trained to respect a regulatory 'constitution' says BofE policy maker

Jamie French

Jamie French

Oh dear, I dont think Mr Kroszner understands how these models work

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“Nobody gets fired for buying IBM”

Ketharaman Swaminathan

Ketharaman Swaminathan

There were tons of established, reliable tech vendors in the era when the phrase "Nobody gets fired for buying IBM" was coined. From what I know, the backstory for this phrase is not tech chops but integrity, which was unique to IBM. IBM never bribed customers to win deals, unlike most of its competitors. Tech projects fail for a lot of reasons such as change management challenges, poor data quality, and so on, for which the customer company is to blame – not CIO or tech vendor. When customer bought from somebody other than IBM and the project failed, aspersion would be cast immediately on the CIO’s integrity, it would be taken for granted that the CIO took a bribe, and s/he would be fired without any due process – such as post-mortem / inquest – to investigate into other reasons for project failure. Whereas, when customer bought from IBM and the project failed, corruption was completely ruled out, CIO got the benefit of a “fair trial”, inevitably other reasons would be found for project failure that were unrelated to the CIO, and CIO got to keep his or her job.

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AI should be trained to respect a regulatory 'constitution' says BofE policy maker

John Davies

John Davies

It's a lovely idea but simply not feasible or even technically possible. It's like putting in back-doors for encryption, it's just not mathematically possible without fundamentally breaking cryptography. Firstly the LLMs or GPTs being referenced are global, so who's regulations to you build into the model? Secondly LLMs don't follow rules like that, they can be tuned towards a direction but like people they find loopholes and unless the rule is rock solid and unambiguous, which they rarely are, they simply won't work on LLMs. Censored LLMs, which is effectively what this is suggesting work badly, you're training it and then un-training it. We saw what happened with some of the recently censored models proposing black German soldiers in 1943, Native Indian founding fathers of the USA, all in the admirable effort of inclusion but failing. What is needed is better management of LLMs, UK and EU should be using privately hosted LLMs and then frameworks around those to assert compliance and adherence to regulatory practices. This is a hybrid of LLMs, RAG and traditional integration. It can be done but not in the way suggested here.

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Climate Scorpion: The Sting is in the Tail - Introducing Planetary Insolvency

Mark Sibthorpe

Mark Sibthorpe

Good grief! Are these really the people in charge of making decisions related to the future of our planet.

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Featured

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Deutsche Bank joins MAS-led asset tokenisation project

KfW to issue blockchain-based digital bond

Revolut vets launch crypto exchange

Visa develops dashboard to make sense of stablecoin activity

The long read

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Madhvi Mavadiya

What is T+1 and why has the SEC has ruled to shorten settlement cycles from T+2?

Madhvi Mavadiya - Finextra Research

Elsewhere...

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Sehrish Alikhan

IFGS 2024: What do the 2024 elections mean for international finance?

Sehrish Alikhan - Reporter, Finextra