Swiss Banks are Shaking Things Up: Lead by Blockchain.

What we’ll cover today:

🚀 Swiss Banks are Shaking Things Up.

🤖 80% of Financial Firms use AI. - Nvidia

🔓 One Powerful Aspect of DeFi.

🔗 The Event Roundup.

Swiss Banks are Shaking Things Up.

A recent study shows over 80% of them are diving into crypto.

They’re not just testing the waters—they’re going all in.

Key insights from the study:

• Crypto Services: Around 60% of banks are enhancing services like crypto custody, trading, and exchange-traded products (ETPs).

• Growth Potential: Currently, crypto makes up a small 0.53% of total assets, but it’s poised for major growth.

• Tokenised Assets: Nearly 50% of banks are planning to roll out new offerings, promising more liquidity and seamless trading.

Larger banks are setting the pace, treating blockchain as a fintech innovation tool and a competitive edge.

The asset tokenisation market is forecasted to reach $16.1 trillion by 2030.

Here’s the whole article

1. 80% of Financial Firms use AI. - Nvidia

A recent study by Nvidia revealed that nearly 80% of financial firms are using AI to improve their services. The integration of AI in financial services is transforming the industry, enhancing efficiency, accuracy, and customer experience.

Here’s The Whole Tweet.

2. One Powerful Aspect of DeFi.

This is a thread from Minty, a Twitter account with over 65K followers.

The thread says : 

“One powerful aspect of DeFi is the ability to earn a yield on your assets instead of letting them stay idle. 

Here is a comprehensive guide where you can find yield opportunities to put your assets to work.”

Here’s The Whole Guide.

1. Sibos 2024: From paper to pixels – the future of international trade.

Global trade appears to be stuck in the paper-based era. In a digitally-led world, it is almost impossible to imagine a paper-based system where around 28.5 billion trade documents, including bills of lading and bills of exchange, are physically printed and flown around the world daily.

2. National Bank of Fujairah expands iGTB partnership to implement eMACH.ai Cloud on Microsoft Azure.

The $15.1 billion asset bank first signed up for the vendor’s open finance platform eMACH.ai in August, which was credited at the time as the first deployment of the cloud-managed service in the region.

NBF has now broadened the collaboration to include eMACH.ai Cloud for Wholesale Banking, a digital transaction banking (DTB) solution debuted by iGTB earlier this month, becoming the first bank in the Middle East to implement this offering.

3. Harnessing AI for fraud detection & revolutionising security in fintech.

As the volume of digital transactions increases, the volume of associated fraud risk also increases. Billions have been lost to fraudsters as they continuously devise new ways of exploiting the system. 

Although traditional means of detecting fraud are effective to an extent, they are not particularly effective against the constantly changing landscape of financial crime.