TRENDING: UN Secretariat On AI For AML, Cracking Down On Human Trafficking

Recent innovations in artificial intelligence (AI) have given financial institutions (FIs) the ability to fight fraud and better serve their customers. As of late, FIs and law enforcement agencies have been using AI-enabled tools to tighten the noose around money laundering and putting an end to human rights abuses happening around the world. In the latest Digital Banking Tracker, PYMNTS explores the latest on FIs' use of AI to improve customer service, among other use cases. A growing number of players in the financial services space are working to use open banking data to offer new services, with the help of strategic partners. Micro-investing app Moneybox, for example, is collaborating with Santander on a new integration.