None
Brief news summary
Swift has announced two pilot projects that will use artificial intelligence (AI) to enhance fraud detection in cross-border payments. In the first pilot, Swift will enhance its Payment Controls service by using an AI model to detect anomalies that could indicate fraud. The second pilot involves 10 financial institutions using advanced AI technology to analyze anonymously-shared data and strengthen the global financial ecosystem. The use of AI in fraud detection could save the payments industry billions of dollars in fraud-related costs. Swift's unique position as a trusted entity in the financial ecosystem allows it to spearhead these efforts.Swift has announced two AI-based experiments aimed at combatting cross-border payments fraud and saving the industry billions in fraud-related costs. In the first pilot, Swift will enhance its Payment Controls service by using an AI model to create a more accurate picture of potential fraud activity. The second experiment will involve 10 financial institutions testing how advanced AI technology can analyze anonymously-shared data to strengthen the global financial ecosystem.
The use of AI in fraud detection could significantly reduce costs and help achieve the G20's goal of increasing the speed of cross-border payments. The pilots are rooted in responsible use of AI and comply with emerging global standards. Various banks, including BNY Mellon, Deutsche Bank, DNB, HSBC, Intesa Sanpaolo, and Standard Bank, are participating in the experiments.
Watch video about
None
Try our premium solution and start getting clients — at no cost to you
I'm your Content Creator.
Let’s make a post or video and publish it on any social media — ready?
Content Maker
Last news
The Best for your Business
Hot news
AI-Generated Deepfake Videos Pose New Challenges …
The rapid advancement of artificial intelligence has led to remarkable innovations, notably deepfake technology.
Meta's Yann LeCun Targets $3.5 Billion Valuation …
Yann LeCun, renowned AI researcher and soon-to-be-former chief AI scientist at Meta, is launching a groundbreaking AI startup.
US launches review of advanced Nvidia AI chip sal…
The Trump administration has launched a comprehensive inter-agency review to consider approving exports of Nvidia's advanced H200 AI chips to China, marking a significant shift from the Biden-era restrictions that effectively banned such sales.
Why McDonald's AI Christmas Ad Backfired So Badly
In December 2025, McDonald's Netherlands released a Christmas advertisement titled "It's the Most Terrible Time of the Year," created entirely by artificial intelligence.
AI SEO Revolution: The Need for Adaptation in the…
The digital marketing landscape is experiencing a significant transformation fueled by the rise of artificial intelligence (AI) in search engine optimization (SEO).
Micron gives rosy sales forecast as AI spurs dema…
Bloomberg Micron Technology Inc, the largest US memory chip manufacturer, has issued an optimistic forecast for the current quarter, indicating that rising demand and supply shortages are enabling the company to charge higher prices for its products
The News and Intelligence You Need on Luxury
Confidence in generative artificial intelligence (AI) among leading advertising professionals is reaching unprecedented levels, according to a recent Boston Consulting Group (BCG) study.
AI Company
Launch your AI-powered team to automate Marketing, Sales & Growth
and get clients on autopilot — from social media and search engines. No ads needed
Begin getting your first leads today
Your News is ready
Your article is ready
Lorem ipsum dolor sit amet consectetur adipisicing elit. Fuga dolor minus maiores. Aut vero expedita dicta, dolorem odit excepturi odio doloremque voluptatem repellat aliquam? Dolores nemo eum id pariatur! Nobis!
Generating video takes longer than text.
