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Tag: artificial intelligence


Capital and Risk, Operational

4 Keys Banks Need to Unlock Value From Artificial Intelligence

November 15, 2022

Via: Bank Director

Banks of all sizes are tuning up their technology to better compete for customer loyalty by focusing on areas involving consumer interactions. But bank leaders need to understand that artificial intelligence, or AI, alone can’t revolutionize the customer experience. In […]


Channels

The Future of Banking in the Metaverse

May 19, 2022

Via: Bank Director

From Nike’s acquisition of RTFKT to Meta Platform’s Chairman and CEO Mark Zuckerberg playing virtual pingpong, the metaverse has evolved from a buzzword into a way of doing business. The metaverse could become a “river of entertainment in which the […]


Capital and Risk, Operational

Finding illicit financial transactions by ignoring them

February 9, 2022

Via: FinTech Futures

While analysing past behaviour might be successful in catching certain serial offenders, criminals that want to launder money anticipate this way of working and typically will not stick to a pattern. Still, anti-money laundering (AML) and fraud systems are designed […]


Capital and Risk, Operational

Sberbank deputy chair: “We’re the number one target for hackers around the globe”

September 20, 2021

Via: FinTech Futures

Research by Accenture predicts that between 2019 and 2023, the banking sector is at risk of losing $347 billion as a result of direct and indirect cyberattacks. The issue has further been exacerbated by the COVID-19 pandemic. Bank of America’s […]


Capital and Risk, Operational

How identity fraud is costing fintechs millions each year

September 15, 2021

Via: FinTech Futures

While this sounds great on the surface – who doesn’t want access to more sophisticated knowledge, after all? – it presents serious challenges as well. One of these challenges comes in the form of identity verification. Public access to media […]


Capital and Risk, Channels, Trading

Blockchain’s potential to change the face of trade finance

August 31, 2021

Via: FinTech Futures

Recent challenges across the industry, such as the Suez Canal crisis and disruption to the supply chain at the height of the pandemic, have made the case for change stronger than ever. There’s an obvious need for universally adopted, digital […]


Activity, Capital and Risk, Operational, Retail Banking

Reimagining customer experience in financial services

August 17, 2021

Via: FinTech Futures

Many financial institutes are hundreds of years old, and with that comes legacy systems and ingrained cultures that aren’t easy to change. Yet, as customer expectations shifted, banks and financial services companies had to totally rethink how they serve customers […]


Capital and Risk, Operational

Fintechs will be at the heart of the next wave of security wars

July 27, 2021

Via: FinTech Futures

Today, UK fintechs make up 10% of global market share, are collectively worth more than £11 billion in annual revenue, and earned more investment than the next five biggest European countries combined. Seeking to capitalise on this staggering growth, the […]


Channels

How COVID-19 has accelerated the use of digital banking solutions in Africa

July 20, 2021

Via: FinTech Futures

Distinct patterns and relationships have emerged in Africa and will continue to shift – across organisations, businesses, regulators, consumers and society. Green shoots have already presented themselves, and the future players have not only capitalised on this but have already […]


Capital and Risk, Operational

BBVA and Google Cloud Form Strategic Partnership to Drive Security Innovation in Financial Services

February 23, 2021

Via: PR Newswire

BBVA and Google Cloud today announced a new strategic partnership to transform the bank’s security strategy by optimizing and improving its security infrastructure. As part of this global agreement, BBVA will collaborate with Google Cloud in the development of groundbreaking […]


Capital and Risk, Operational

Learning to safeguard vulnerable customers in a digital world

February 19, 2021

Via: FinTech Futures

This is a sizeable figure and one that could grow if the economic impact of COVID-19 worsens. According to one BBC report, two million people deferred repayments on credit cards and loans at the height of the pandemic in spring […]


Retail Banking

US challenger Bella plans launch around conversational banking

October 30, 2020

Via: FinTech Futures

The entrant wants to offer coordinated checking and savings accounts. Like many up and coming new banks in the US, it offers no maintenance fees, and no minimum balance requirements. Its unique offering is a “karma account” through which users […]


Capital and Risk, Operational

Unlocking the benefits of unstructured data in banking

October 20, 2020

Via: FinTech Futures

But the sector wasn’t always as open to embracing new technologies. Until the arrival of challenger banks like Monzo and Starling Bank a little over five years ago, who showed the benefits that taking a digital-first approach could bring, traditional […]


Retail Banking

Visa partners with Clinc to offer clients conversational AI

March 5, 2020

Via: Banking Technology

The firm will serve the banks, credit unions and financial institutions which use Visa’s application programme interfaces (APIs) with voice-powered capabilities such as fund transfers, bill payments and opening a new credit card. The Michigan-based firm, which launched its first […]


Regulations

Deutsche Bank already using robots as it gears up to cut 18,000 jobs

November 22, 2019

Via: Banking Technology

The bank’s head of operations for corporate and investment banking Mark Matthews told Financial News that machine learning tools have already saved “680,000 hours of manual work”. Matthews say the bank has so far used bots to process five million […]


Retail Banking

Bank of Georgia launches AI-powered personal finance tool

November 14, 2019

Via: Banking Technology

MBank, underpinned by technology company Strands, will feature smart personal finance management to help users track their spending and categorise their finances, income, and expenses. “Putting personal finance management at the heart of digital banking gives way to smart, personalised […]


Retail Banking

Bank of America chatbot logs 50 million requests in first year

May 29, 2019

Via: Finextra

Since its nationwide rollout in June 2018, Erica has: Completed over 50 million client requests – from everyday banking activities to more complex tasks – through the latest in artificial intelligence (AI), predictive analytics and natural language processing. Been engaged […]


Uncategorized

Personetics brings AI to small business banking

May 15, 2019

Via: Finextra

The Personetics solution is designed to help small businesses proactively manage their day-to-day banking needs, optimize cashflow and ensure they have enough liquidity to support future growth. Integrated into the bank’s online and mobile experience, the solution enables business owners […]


Channels

US challenger bank Newbridge will start spreading the news

January 24, 2019

Via: Banking Technology

Based on Broadway, the start-up will be looking to make a grand entrance and a real show of its ambitions. The bank says it will offer a transaction processing engine integrating businesses and their digital-native customers for banking services. This […]


Capital and Risk, Credit

AI to outperform human credit decisions by 2024 – survey

January 21, 2019

Via: Finextra

Intertrust, a global leader in providing expert administrative services to clients operating and investing in the international business environment, surveyed over 500 capital markets executives to identify the impact that disruptive technology is having on jobs and skills. Of these, […]