“Artificial intelligence (AI) technology has become a critical disruptor in almost every industry and banking is no exception. The introduction of AI in banking apps and services has made the sector more customer-centric and technologically relevant. JPMorgan Chase: Researchers at JPMorgan Chase have developed an early warning system using AI and deep learning techniques to…
Tag: Financial Services
Personetics, an AI-powered customer engagement and insights platform for banks, raises $85M
“‘Banks are increasingly moving from a passive to a proactive relationship with customers, and looking for new ways to help them improve their financial well-being,’ Personetics cofounder and CEO David Sosna told VentureBeat. ‘They are sitting on a wealth of data that can allow them to anticipate their customers’ needs, and Personetics’ AI helps them…
AI Presents New Risk Model for Banks
“Featurespace Product Manager Richard Graham told PYMNTS that model explainability is critical in financial services, and indeed any other vertical that relies on advanced technologies to reach everyday decisions that affects people’s daily lives. At a high level, model explainability is simply the concept of being able to understand what is happening as inputs are,…
New Infographic: Why banks need customer experience solutions to drive choice and loyalty
“New research from American Banker, Humanizing the Bank Customer Experience, developed in conjunction with creative experience agency Monigle, examines the core of what drives customers to choose and stick with a particular financial institution to help executives take meaningful actions to build strong bank-to-customer experiences.” https://www.americanbanker.com/infographic/why-banks-need-customer-experience-solutions-to-drive-choice-and-loyalty
AI IN BANKING – HOW CAN BANKS MEET THE AI CHALLENGES?
“Despite the industry’s current challenges, the future of AI in banking is bright. As reported by Finextra in July 2021, about 83% of financial service providers believe that AI is important to their company’s future success. Also, about 34% businesses believe that AI will increase their company’s revenue by 20% or more.” https://www.bbntimes.com/financial/ai-in-banking-how-can-banks-meet-the-ai-challenges