“So, what kind of impact is AI having on banking and Wall Street, and how might the resulting impact on entrepreneurs evolve in 2019? Since 2015, we’ve seen the rise of AI-based products designed for the average consumer, like Betterment or Wealthfront. We’ve also seen the inclusion of AI-embedded into products that consumers are already…
Tag: Banking
Goldman Sachs Joins HSBC For $20 Million Bet On Bud’s AI-Powered Bank Accounts
“Some of the world’s biggest banks today joined forces to invest in a London-based startup determined to change our relationship with money. Bud, cofounded by Ed Maslaveckas and George Dunning, provides open banking technologies to high street players, with a particular focus on AI and “smart accounts.” Bill switching is another battleground that the CEO…
How HSBC Uses AI To Boost Its Digital Banking Immune System
“‘You have billions and, in some cases, trillions of transactions across global networks,’ Balkin said. “Finding a needle in a haystack, as it were, is done most effectively using the power of AI to look through massive data sets.” AI-generated fraud alerts that go directly to customers’ smartphones also put them on the front lines…
Capitec sees AI as competitive enabler
“We intend to be a world leader in the application of AI to consumer banking. Banks generally, and Capitec specifically, have large quantities of quality data. We protect, manage and govern that data very well and that gives us the best raw materials to start with,’ says Graham Lee, head of data and digital solutions…
Absa AI automates account switching in South Africa
“Absa is implementing artificial intelligence (AI) to help customers change banks in South Africa. According to Absa’s CIO Jacques Barkhuizen, this is a “world first” and any customer from any bank in South Africa can go to the app and get this feature. He says the process takes under seven minutes, and it will automatically…