KYC utilities raise significant concerns for banks about privacy and data sharing.
Cross-border operations further complicate the legal requirements for data sharing, as banks are challenged to address the requirements of multiple jurisdictions.
Furthermore, the experience of some KYC-utility projects has revealed that obtaining customer consent can be a major impediment to a utility’s adoption.
A leading banking regulator has issued a stern warning over the risks that financial institutions face as they move to integrate artificial intelligence (AI) and machine learning (ML) into governance operations.
Senate Commerce Committee Chair Maria Cantwell and House Energy and Commerce Committee Chair Cathy McMorris Rodgers have unveiled the American Privacy Rights Act.
Concerns over personal privacy are intensifying among US citizens in the face of rapid AI tech development, a new study shows.
No comments yet