AI

News about Artificial Intelligence and machine learning in payments

Specialty is key in new era of Aussie payments consulting

With increasing complexity around digital payments, a new breed of payments consultant is emerging in Australia focusing on niche specialisations to help businesses meet new challenges.

Fintech

AI hire and investment war escalates, as NAB pre-announces digital executive

In the race for digital-savvy bank executives and AI investment, NAB has pre-announced the appointment of Lloyds Banking Group and former CBA executive Pete Steel to focus on its digital and AI operations, including the “design and customer onboarding” of its digital bank, ubank.

Digital & Online

CBA joins AI-powered scam fight

CBA is the latest bank to announce AI remedies to scams, this time using a fleet of thousands of fake Aussie consumers to keep scammers busy and disrupt their operations.

Banks

Westpac deploys call centre AI to detect scams

Westpac is piloting new AI technology which it says will revolutionise its customer support capabilities, including improving the bank’s ability to detect if a customer is being scammed.

Banks

Would you trust AI to access your wallet and do your shopping?

What are the trust, privacy and liability issues for consumers in a new world of AI-powered commerce?

Fighting AI with AI – tech battle looming to combat Aussie APP scams

Friendly AI may be the best form of defence against predicted increases in sophisticated AI-driven criminal scams in Australia, according ACI Worldwide’s Scamscope report.

Easter warning on SME scams

Small businesses should take extra caution during the upcoming Easter break as there is often a spike in scams throughout busy holiday periods, the Commonwealth Bank has warned.

Adyen using AI to reduce fraud and costs for merchants

Adyen has announced an AI-powered payment optimisation suite which it claims will help businesses increase payment conversion, simplify fraud management, and reduce the cost of payments.