Risk management

Switzerland's UBS is adopting an advanced type of digital signature technology, with a range of uses that include the capability to secure high-risk digital payments.

The payments giant has made a lot of money issuing loans to online shoppers with blemished credit histories. But now it is looking to reduce its risks.

Artificial intelligence is steadily making its way through the payments and financial services world. The technology's usefulness for fraud detection is clear, but there are other areas where AI can have an impact.

The industry expects to lean on technological efficiencies this year as higher rates and dwindling refinances test their businesses.

Germany's state-owned development bank KfW, which gained publicity for erroneously transferring hundreds of millions of euros to Lehman Brothers the day the U.S. firm filed for bankruptcy, has done it again.

So-called performance-share units are pushing aside stock options as the preferred long-term incentive pay for bank executives. Many investors and regulators fear that options can encourage reckless conduct and have other shortcomings, though options still have supporters.

The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said.

The financial services industry has been using artificial intelligence for decades in trading, and as the technology gets smarter it’s being tested more often with payments as well.

Firms need to evaluate risks ranging from hackers spreading false information about the bank to an executive’s inappropriate social media posts.

The certification covers compliance, risk and strategy expertise as the payments industry becomes increasingly digitized and global.