“Financial regulators have yet to publish a comprehensive set of artificial intelligence (AI)-related rules, as most of the efforts have focused so far on guidelines and principles for financial institutions to make good use of AI. However, senior banking regulator officials warned on Friday (June 3) that existing regulation could also apply to AI. ‘If…
Tag: ai Banking
For the metaverse to grow, mobile digital identities are necessary
“Gartner expects that by 2026, ‘25% of people will spend at least one hour a day in the metaverse for work, shopping, education, social media and/or entertainment.’ I believe that the metaverse isn’t just a destination we reach through technological devices, but rather a digital identity we carry across platforms and experiences. It seems that…
Kiya.ai Launches India’s First Banking Metaverse Named Kiyaverse
“Kiya.ai, a Mumbai-based fintech company, has launched India’s first banking Metaverse, Kiyaverse, which will be used by banks and non-banking finance companies (NBFCs) to enable virtual interactions. Over the next few phases, Kiya.ai plans to have NFTs as tokens and support central bank digital currencies (CBDCs) for transactions. In a statement, the company said that…
Transforming Financial Services with Data-Driven Insights
“Banks and financial services institutions face increased competition not only from peer organizations within the industry, but also now from FinTech startups, Neobanks, and others. The way to compete is to deliver highly personalized services and innovative offerings. And increasingly, the way to do that is using AI/ML to derive data-driven insights upon which those…
Scotiabank Is Leading The Way With Advanced Analytics And AI
“We’ve had some aborted attempts to bring analytics and data to the Bank in a meaningful way. And through this journey, we have learned from our mistakes to enable us to move from siloed analytics, data, and AI professionals into a unified centre of excellence where we have integrated teams across the various business lines…