This week Austin, TX will be the site of the Digital Banking conference hosted by the American Bankers Association (ABA) Be sure to check the AI focused sessions with speakers including: Chuck Monroe – Head of AI Enterprise Solutions, Wells Fargo Vijay Nadadur – Co-Founder & CEO, Stride.AI Frederick Townes – Co-Founder and CTO, NestReady…
Tag: Financial Services
4 Trends That Will Rewire the Inner Workings of the Fintech Industry
“These four impending trends won’t just rewire the inner workings of the fintech industry, they’ll create space for further innovation on the part of agile startup entrepreneurs. 1. Quantum computing – Even JP Morgan and Barclays have been dabbling with IBM’s quantum computing tools, according to Wired, looking to the future for practical applications….
Your credit score will soon be partially determined by AI monitoring your social media accounts
“Financial tech companies such as ZestFinance, Lenddo, SAS, Equifax, and Kreditech feed “alternative data” into their algorithms to generate credit scores, then sell their AI-powered systems to banks and other companies that use it for creditworthiness assessment.” https://www.google.com/amp/s/reclaimthenet.org/credit-score-social-media/amp/
How to become an AI-First financial institution
“The most successful AI strategies are driven by four pillars: improving data assets, scaling infrastructure to allow widespread experimentation, enlisting employees so that they scout for new AI use cases, and looking for ways AI can solve customers’ problems beyond providing banking services. 1. Improve Data Assets American Express is harnessing the power of its…
Increase bank/credit union revenue by 30%
“According to estimates from Oliver Wyman, if properly deployed, AI has the potential to increase banks’ revenues by as much as 30% in the next five to seven years, and to reduce their costs by 25% or more.” https://www.google.com/amp/s/www.verdict.co.uk/ai-in-banking/amp/