iGTB: Intellect Global Transaction Banking - Corporate - iGTB's Tapan Agarwal featured in Global Trade Review article on AI in financial services

Tapan Agarwal, Product Council Head at iGTB, has been cited in Global Trade Review in an article discussing the use of AI in the financial services industry. The article describes how financial services provides a fertile ground for AI applications because AI's strength comes from the quality of the data fed to it, and financial institutions themselves are data mines. In trade finance, AI applications can be found particularly in the field of compliance to prevent money laundering and fraud. Banks are currently facing the challenge of increased regulation in these areas, and keeping up with various requirements can be challenging for compliance departments. "Banks are failing to identify threats and fraudulent activities by relying solely on curated databases," commented Agarwal.