SET Training - Banking and Fintech

Credit card usage has become a prevalent financial tool for many individuals and businesses worldwide. A credit card allows one to borrow money from a financial institution, and instead of making cash payments, the amount owed is paid off in the future.  With virtually every major retailer accepting credit cards, usage has become more commonplace, and some benefits include convenience, rewards, and reliable financial protection.

Our Report:  The   US, UK, and 16 other global partners have released new guidelines to “make AI safe by design” using third-party testing and a bug bounty program.   Key Points: The UK, the US, along with international partners from  16 other countries (including Germany, Italy, Israel, Singapore & more), have signed a 20-page document  to create AI systems that are “safe by design” The guidelines build upon the U.S. government's ongoing efforts to ensure  new tools are tested before public release, addressing societal harms such as bias, discrimination, privacy concerns— and setting up clear ways for consumers to identify AI-generated material. The commitments require companies to  facilitate third-party discovery and reporting of vulnerabilities in their AI systems through a bug bounty system  (get ready devs, it’s time to make a tonne of cash). On the matter, the  US cybersecurity agency said:   "The approach prioritizes ownershi...

The complex webs of technologies that underlie many banks' digital offerings can amplify usability accessibility challenges for your disabled customers.  The use of AI tools can cut through that tangle to improve both customer experience and loyalty. Find out more HERE .

As the use of ChatGPT and other large language models become more prevalent, there will be trouble. Forrester says eight neobanks and two large traditional banks will run afoul of regulators and consumers in 2024. Tightening up controls and compliance with those controls is a key starting point. Read more HERE .

Banks are deploying digital products and services at ever faster rates. Implementing any new technology can be a challenge if frontline staff isn't properly trained. The deployment of AI in particular can expose glaring gaps in skills and experience. If banks are going to succeed as digital tools proliferate, they need to identify and address employees' needs quickly and effectively. Check it out HERE .

After a whirlwind week for OpenAI and Sam Altman, Bloomberg's Ed Ludlow and Mandeep Singh of Bloomberg Intelligence talk about what could happen next.

Binance skirted regulation to become the world’s largest cryptocurrency exchange by trading volume. Now, the company has pleaded guilty in the U.S. and agreed to pay $4.3 billion in fines. Here’s how the same strategy behind the company’s rise brought it crashing down.

In the rapidly evolving landscape of artificial intelligence, generative AI tools are demonstrating incredible potential. However, their potential for harm is also becoming more and more apparent. Check it out HERE .

In just one year since its public debut, ChatGPT ignited a revolution in conversational AI that promised to reshape retail banking engagement. How does the ongoing disruption at OpenAI and potential management changes at Microsoft alter the outlook for this AI technology in the future? Check out the full article HERE .

The super app Revolut aspires to build the U.S. into one of its major markets, but has found that American consumers have unique financial preferences. How is the neobank adjusting its growth strategy and product portfolio, while keeping a sharp eye on a new competitor named Musk? Check it out HERE

A deep dive into Binance, the world's largest crypto exchange. We uncover what we believe to be red flags which should give investors and customers serious concerns.

WeWork, once a-venture-capital darling, has filed for Chapter 11 bankruptcy. Co-founded in 2010 by Adam Neumann, the filing marks a reversal for the company that specialized in leasing shared workspaces and was once valued at $47 billion. WSJ breaks down how the desk-rental company went from one of the world’s most valuable startups to a bankrupt penny stock.

Sam Bankman-Fried and his company FTX were once the stars of the crypto space but all was not as it seemed. After his fraud was uncovered, he was held up as everything wrong with the financial world.  We examine the trial of SBF, where the money went and how his ex-girlfriend Caroline Ellison told all.

Warren Buffett is the greatest investor of all time. In this video you will hear his opinion on Bitcoin, including the new 2021 comments! Very important to watch this regardless of your attitude to cryptocurrencies (and absolutely necessary if you own any of them!) As Charlie Munger says, “If you disagree with somebody, you want to be able to state their case better than they can.” And at that point you've earned the right to disagree with them. Warren E. Buffett is an American long-term investor, philanthropist, business tycoon, and the chairman & CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth over 100 billion dollars. Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth and made truly incredible stock market returns over his career.

A jury convicted FTX founder Sam Bankman-Fried of stealing billions of dollars from customers and lenders, in what prosecutors called one of the biggest financial frauds in U.S. history. Rachel Humphreys and Caitlin Ostroff were inside the courtroom for the verdict. Listen HERE .

The United Nations Conference on Trade and Development (UNCTAD) estimates that, if effectively harnessed, digital trade in Africa has the potential to contribute an additional $180bn to the continent’s GDP by 2025. Despite this tremendous potential, e-commerce in Africa is currently underutilised. A major report prepared and published by the mobile phone industry body the GSMA in collaboration with the UK’s Department for Business and Trade points to the ways in which mobile commerce is going to be integral to the continent’s growth. We report from its launch at the 2023 Mobile World Congress in Kigali, Rwanda. Read the full article HERE .

FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president — hit rock bottom Thursday when a New York jury convicted him of fraud for stealing at least $10 billion from customer and investors. Read about it HERE .

Both the prosecution and the defense make their final pitches to the jury as FTX founder Sam Bankman-Fried’s trial comes to a close. Rachel Humphreys and Caitlin Ostroff unpack closing arguments and look ahead to the trial’s conclusion. Listen HERE .