Mizuho boosts its financial crime fighting skills with AI

This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. Artificial intelligence (AI)-powered solutions are increasingly gaining traction in the banking industry, with organizations deploying them across ever-more areas of their businesses. Japanese-based Mizuho Bank has now joined this trend, announcing last week that it will test IBM's new AI-based regtech solution, Financial Crimes Due Diligence with Watson, as it seeks to improve its ability to prevent and detect financial crime like money laundering (ML) and financing of terrorism (FT). Mizuho will first deploy the solution, which automates the retrieval and analysis of data used in detecting financial crime, in Singapore.