Since 2018, the use of AI for the organisations have been more than doubled and 40% of financial services companies were applying AI against risk. (Birlasoft, 2019) However, not all of them see significant value on mitigating risk with AI because the advancement of technologies during that time might not be as strong as now and […]
There are various types of business strategies for the organisations to optimise revenue by triggering consumers purchasing decision and providing services or products to customers with alternative payment options. Offering debt in the form of loans is one of the business strategies for the banks to gain interest by compensating the risk of defaults. On […]
The rapid evolution of artificial intelligence (AI) has introduced new capabilities into enterprise setups. While Generative AI (GenAI) has transformed content creation and Predictive AI has provided data-driven foresight, the emergence of Agentic AI raises an important question: Is Agentic AI replacing these AI types, or is it complementing them? To answer this, let’s explore […]
In recent years, AI has become a commonly use technology in enterprise, it’s no longer about why AI replace jobs, but is about how AI enhances daily workflows and bring measurable benefits across business operations. The rapid pace of AI advancements has introduced various types, including AI (called Traditional AI or Predictive AI nowadays), Generative […]
The shortage of doctors and essential resources has been a persistent, unsolved problem in hospitals and the healthcare sector in general. The Ministry of Health’s 2023 Health Facts reveals that there is one doctor to 412 Malaysians, or 2.4 doctors for 1,000 people. To benchmark against Asean, Singapore had 2.7, Brunei had 1.6, Thailand 0.9 and […]
Scandal, corruption and fraud have long plagued government institutions across Asean, with the infamous 1MDB scandal in Malaysia and other high-profile scandals leaving a bitter taste in the mouths of citizens. These issues caused a range of consequences for the economy, society and governance. Unfortunately, many cases of fraud or scandal are not discovered until […]
Public sector institutions have focused on sustainable business practices, including energy efficiency, waste reduction, efficient water usage, and reaching net-zero carbon emissions, and these efforts have increased significantly over the past several years…
In the fast-paced world of artificial intelligence, the journey to success is often seen as a path paved with failures. But what if the stumbling block isn’t an internal hiccup, but an external force? What if the very foundations of our organisations are shaken by the changes or failures of third-party vendors, to the point […]
In the dynamic landscape of insurance, combating the pervasive threat of money laundering is a multifaceted challenge. As the regulatory landscape evolves and financial crimes become increasingly sophisticated, the need for proactive measures becomes more urgent. Before we delve into four innovative safeguards, let’s address three critical challenges faced by the industry in its ongoing […]
In the ever-evolving landscape of banking, insurance, and regulatory industries, the demand for fortified Anti-Money Laundering (AML) programs and systems has surged since the pre-COVID era. Recent events, like the high-profile US$1.3 billion money laundering probe in Singapore, have sounded a clear alarm, highlighting the need for robust AML strategies even in developed nations. It becomes […]
In today’s rapidly evolving global landscape, sustainability management are no longer an option but an urgent imperative. Organisations worldwide, especially in Asia, are awakening to the pressing need for sustainable development. However, the journey towards sustainability often hits a roadblock at the very first step – data collection. Countless organisations find themselves struggling to gather […]
Optimise revenue and increase profit are always the main goal for every organisation. One of the most direct ways to gain profit is by improving sales performance. Every organisation will also have their target audiences that they hope to be influenced to drive sales. However, it is not an easy task to influence someone to […]
“Government is strengthening measures for bank fraud prevention/ security for digital banking…”, I bet you have seen this somewhere in news or press release during the recent years for sure. As the threats of fraud continue to evolve all around the world, it’s becoming increasingly clear that traditional methods of fraud detection are no longer […]
Asian banks were discovered to be highly vulnerable to fraud as most of them have low fraud insight accuracy, with their fraud detection false alarm rate above 80%, serving as a wake-up call to beef up their fraud detection and management measures…
Customer experience has been the top priorities for most of the organisations today because customers will not only care about the quality of products or services but they will also concern about the customer service experience for the entire purchasing process. According to a research from Forbes, 30% of the customers who had a bad experience […]
Misconduct is improper and wrongful behaviour that acted by an individual or a group to gain certain benefits without considering the consequences. In the workplace, it is always a crucial issue that may cause huge unwanted loss to the organisations, damage the organisations’ reputation and competitive position, thus it has been recognised as a type […]
Frauds and compliance issues are on the rise with each passing year which has become a serious hidden threat to organisations since the business trends and consumer behaviours are shifting online. The exponential increase in online and virtual activities makes organisations more vulnerable to fraud especially for organisations that deal with a massive amount of […]
Behavioural science by itself is not something new which refers to the use of scientific methods to study human behaviours. How about applying behavioural science to leverage big data with advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML)? By the meaning itself, behavioural science makes a lot of sense when applying to applications […]
Predicting the future? Some of us might wish to gain this power but some might judge about that. Many technology companies claim that they are able to predict the future with technologies like Artificial Intelligence and Machine Learning. However, is it really possible to predict the future or is it only some advertising tricks to […]
The outbreak of Coronavirus disease (COVID-19) since December 2019 has been causing the entire world chaos and threatening human lives with the rapid transmission speed. The total number of confirmed cases have reached to more than 415,000 and nearly 18,500 of deaths based on World Health Organisation (WHO). Many countries had imposed lockdown to combat the […]
Based on McKinsey’s 2019 Global Insurance Trends and Forecast analysis, the annual growth rate of global insurance industry has increased more than 4 percent in 2017, which is the same level as its compound annual growth rate from 2010 to 2016. As the number of policyholders are growing rapidly, the amount of data from different sources will […]