“With manual processes you had more time to react to quality problems, but as you invest in implementing AI, ML or Robotics, the movement of data and generating of decisions becomes so automated that doesn’t give you the appropriate time to react…By entering data without validating it first, you enabled and propagated the wrong information…
Month: September 2020
Intuit Muscles into Banking with AI-Powered Primary Checking Account
“The leading small business software vendor pushes deep into digital business banking with a Banking as a Service partnership with Green Dot. The potential prize is checking relationships with the five million American small businesses already in Intuit’s fold.” https://thefinancialbrand.com/101737/banking-as-a-service-baas-digital-innovation-small-business-intuit-green-dot/
How Financial Crime Is Being Thwarted By AI, ML
“The new Playbook states that “banks have reported increased fraud detection rates of up to 50 percent through the use of these technologies, but the tools are still used by only a minority of FIs around the world.” “Banks are deploying AI-based systems in record numbers, with more than $217 billion spent on AI’s applications…