“Utilising AI and machine learning will influence an array of factors, from how we onboard clients to enhancing transaction monitoring. Though the fintech industry received record high investment levels last year, simultaneously 2021 was the year anti-money laundering fines rocketed. With this in mind, I urge governments and regulators alike to prioritise digital transformations and…
Tag: AI
AI Can Help Banks Provide Better Service to Credit & Debit Cardholders
“Consumers have increased expectations for detailed and timely insights about their card transactions. What they too often see instead is a confusing mix of abbreviated, often misleading, data. Not only is the experience poor, but it leads to many service calls. The solution lies in better use of real-time transaction data and artificial intelligence. Debit…
Mark Cuban predicts AI will dominate the future workplace: To be successful, ‘you’re going to have to understand it’
“Whether you’re an entry-level employee or a CEO, you probably need to understand the internet and mobile technology to succeed. Next on that list, says Mark Cuban: artificial intelligence. artificial intelligence is already beginning to take over the business world. Soon, it’ll become as essential to businesses as personal laptops and smartphones, he said. ‘There’s…
AI in Banking: Beyond the Bots
– “80% of financial institutions are “highly aware” of the benefits of AI and machine learning. – 75% of banks with more than $100 billion in assets are currently implementing AI. – 46% of FIs with less than $100 billion in assets are currently implementing AI. – By 2023, FIs are projected to save $447…
Business Leaders: Do You Have a Digital Mindset?
“Leonardi and Neeley believe achieving a digital mindset requires a level of comfort with analytics. They stress data is not a natural substance. They say it is a misnomer to say data are collected. It is more accurate to say that data are produced. Leonardi and Neeley suggest that having digital mindset means you are…