“What is Open Banking? It basically is creating a Data Architecture where a network of institutions can share the data through APIs (Application Programming Interfaces). The data architecture is used to create guidelines on how customer data can be created, structurally stored and securely accessed.” Judo Bank Alex Twigg, Co-founder and CIO “Twigg is considered…
Tag: ai Banking
KPMG and Recommender Labs AI
“KPMG India has announced the aqui-hire of Mumbai-based AI-led decision-science services company Recommender Labs. With this, KPMG is poised to build its own Centre of Excellence (CoE) specialising in decision-science and AI-driven solutions. It will build unique assets, enable quick go-to-market, and build the ability to respond with AI-led offerings, by combining its capabilities with…
Small banks need to plug the data gap
“A research paper from MIT and the Institute for Data, Systems, and Society involving predictive modeling experiments found that synthetic data delivered similar results to authentic data 70% of the time.” https://www.americanbanker.com/opinion/small-banks-need-to-plug-the-data-gap
Why Businesses Keep Failing to Make the Most of AI
“By purchasing new technology before designing a strategy to make the most of it, companies attempting to get ahead of their industries ironically set themselves back. To correct this misguided approach, businesses must design real, actionable strategies before they let AI take the wheel. To avoid that fate and design a strategy that gets the…
7 million Erica users, and counting
“Bank of America’s Erica is growing on consumers. Since the bank introduced what it calls ‘proactive insights’ to the artificial intelligence-driven virtual assistant late last year, it has added thousands of users willing to take advantage of its automated advice on day-to-day finances.l https://www.americanbanker.com/news/bofas-roi-on-ai-7-million-erica-users-and-counting https://promo.bankofamerica.com/erica/