Banking on continuous innovation to stay ahead of scammers
Nairobi, Aug. 3 -- From pioneering mobile money to becoming one of the world's leading digital payments markets, Kenya has emerged as a global benchmark for financial innovation. Banks are now building on that success by integrating artificial intelligence (AI), embracing embedded finance, and expanding digital banking services to deliver faster, more seamless, and increasingly personalised customer experiences.
But every new layer of convenience also creates new opportunities for fraudsters, money launderers, and cybercriminals. According to Standard Chartered Chief Compliance Officer (Kenya) and Sub-Cluster Head of East and Southern Africa, David Mwindi, the challenge is in ensuring that "innovation strengthens rather than erodes the t...
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