Anti-money laundering and countering the financing of terrorism (AML/CFT) measures are defined by the Financial Action Task Force (FATF), the international standard setter in this area. The Basel Committee on Banking Supervision regularly issues guidance to facilitate banks’ compliance with their obligations in this area.

An application programming interface (API) is a set of rules and specifications followed by software programmes to communicate with each other, and an interface between different software programmes that facilitates their interaction.

Artificial intelligence is defined as IT systems that perform functions requiring human capabilities. AI can ask questions, discover and test hypotheses, and make decisions automatically based on advanced analytics operating on extensive data sets. Machine learning (see below) is one subcategory of AI.

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