“At the end of summer 2020, Americans had spent 14 billion hours — that’s 1.6 million years —and $73.2 billion on online shopping in 2020. Mobile shopping is no longer a secondary concern for ecommerce businesses: Smartphones now account for more than half of visits to retailer websites and are on track to make up…
Tag: Financial Services
Six AI and Big Data Trends in Banking for 2022
“81% of bank and credit union executives believe that unlocking value from AI will be the key differentiator between winning and losing institutions, research by The Economist Intelligence Unit and Temenos found. Appen, a data collector, found that 71% of technologists say that Covid either somewhat or significantly accelerated their AI strategy. And one of…
Survey of Fintech and Banking Executives Reveals Identity Authentication Risk and Customer Dissatisfaction Top List of Concerns
“Identity authentication is most often conducted with one-time passwords (36%) or a combination of OTP and KBA questions (29%). While respondents’ familiarity with facial biometric identity authentication is high (88%), less than one-quarter (22%) currently use this technology. More than two-thirds (70%) of respondents are either “highly likely” or “somewhat likely” to consider facial biometric…
4 Ways Artificial Intelligence Will Change FinTech
“Chatbots in FinTech AI-powered chatbots can minimize the workload placed on call centers as they tackle the most typical and frequent user problems. As simple as they may seem, each chatbot uses a complex sentiment analysis, which is possible thanks to artificial intelligence. This sentiment analysis focuses on understanding the customer’s experience with your service/application,…
Sibos 2021: Swift, Deutsche Bank, Société Générale and C3.AI to collaborate on AI platform
“On day two of Sibos 2021, representatives from Swift, Deutsche Bank, Société Générale and C3.AI took to the virtual stage to explore how collaboration and establishing a community between banks can support the deployment of artificial intelligence (AI) at scale. Aggregating data, however, can ensure that the utilisation of this data is accurate, and decisions…