The Business Times
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Five lessons in payment security that AI hasn’t made obsolete

Firms should emphasise extending control areas that already underpin trust in payments to cover AI systems

Summarise
    • The controls that already secure card data and payment infrastructure, applied with the same rigour to AI, close most of the gap that matters.
    • The controls that already secure card data and payment infrastructure, applied with the same rigour to AI, close most of the gap that matters. IMAGE: PIXABAY

    Cheng Yew Kuann

    Published Wed, Oct 28, 2026 · 07:00 AM

    SINGAPORE’S banks and fintech companies are using artificial intelligence in live payment operations, putting the country ahead of most of its regional peers that are still running pilots, a 2026 survey by fintech company Finastra showed.

    That lead signals what is coming for the rest of the region, as AI takes on a growing share of decision-making, processing and fraud detection across payment systems.

    Where the real risk sits

    Most fraud controls in payments today are built to answer this question: Is the person who they claim to be?

    E-paymentsCybersecurityArtificial IntelligenceSingapore fintechBanks

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