APAC banks favour AI fraud detection amidst security fears
Source: Asian Banking & Finance
Published on: 2026-10-18 21:39
FICO found that 42% of executives cited data privacy and protection as their biggest adoption barrier. More than 60% of banking leaders in Asia-Pacific (APAC) identified fraud and scam detection as the area where generative artificial intelligence (AI) could most improve operations in the next 12 months, according to a survey by analytics software company FICO. Underwriting decisions were cited by 21% of respondents, followed by customer-facing digital banking services at 15% and regulatory compliance monitoring at 3%. The findings come as banks seek to adopt AI tools designed specifically for financial services. Some 77% of respondents said it was extremely important for banking AI tools to be purpose-built, whilst the remaining 23% considered this somewhat important. Data privacy and security were the biggest barriers to adoption, cited by 42% of respondents. Regulatory and complia...
(Please login to view full article)Third-Party Content Disclaimer
Content displayed on this platform may include news articles, reports, and other materials aggregated from publicly available third-party sources through automated tools. Such content is not created, written, commissioned, or edited by Straits Interactive Pte Ltd or the Data Protection Excellence (DPEX) Network.
While we take reasonable steps to ensure responsible publication, we do not independently verify all third-party information and make no representations as to its accuracy, completeness, or reliability.
The views, findings, and statements expressed in third-party content belong solely to the original source and do not reflect the views of Straits Interactive Pte Ltd or the DPEX Network.
If you believe any content is inaccurate, infringing, or should be removed, please contact us at legal@straitsinteractive.com. We will review the matter and, where appropriate, take action in accordance with our internal policies.
Unlock these benefits
Get access to news, enforcement cases, events, and actionable tips and guides
Get regular email updates and offers
Job opportunities, mentorship and career guidance
Exclusive access to Data Protection community - ask questions, network and share knowledge with peers and experts via WhatsApp and Linkedin
DPEX Network is a Community Initiative of Straits Interactive.
Copyright © Straits Interactive Pte Ltd. All Rights Reserved.
All intellectual property rights to logos and brands featured on this website remain the property of their respective owners.