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Artificial Intelligence and Financial Services

Artificial Intelligence and Financial Services

Karin Schreiber

Karin Schreiber Chief Commercial Officer at Sygno

Securing weak spots in AML: Optimizing Model Evaluation with Automated Machine Learning

Manually evaluating transaction monitoring models is slow and error-prone, with mistakes resulting in potentially large fines. To avoid this, banks are increasingly turning to automated machine learning. Regulators increasingly expect banks and financial institutions to be able to demonstrate the effectiveness of their transaction monitoring system...

/regulation /crime

Ivan Heard

Ivan Heard Global Head of Fraud Solutions at Quantexa

Why financial institutions should welcome Companies House reform

For decades, Companies House has provided frictionless company formation to support the British economy. A job it’s done admirably well; in 2021 the agency saw the highest number of incorporations on record. However, the register has also suffered from data-quality issues and companies being set up to front fraudulent or illicit activities. Recent...

/regulation /crime

Michael Boukadakis

Michael Boukadakis CEO at ENACOMM

ChatGPT Is Greasing the Wheels for Use of AI Virtual Assistants in Banking

“ChatGPT lowers the bar for people using AI,” Charles Morris, Chief Data Scientist for Financial Services at Microsoft, recently said during a Banking Transformed podcast. It's true; this AI chatbot is democratizing artificial intelligence…even if it lacks the “right direction and guardrails” for use as an automated teller in retail banking. Chat...

/retail /cloud

Victor Martin

Victor Martin CMO at SquareRoot

AI and Customer Experience in Fintech: Personalizing Financial Services

Customer experience encompasses all customer touchpoints with a company, including pre-purchase interactions, the purchasing process, and post-purchase support. With the help of AI, Fintech companies are personalizing financial services need to provide a more customer-centric experience. In this blog post, we will dig into how AI reshapes customer ...

/people /startups

Simon Thompson

Simon Thompson Head of Data Science at GFT

ChatGPT: Making things safer

In part-one of this blog I examined the new and powerful technology that is ChatGPT. In this second and final part, I explore what best practices are required to make its use as safe and secure as possible. It is pretty clear that we are not going to put ChatGPT back in the bottle. The techniques used to create it are well known, and although the...

/security

Dorel Blitz

Dorel Blitz VP Strategy & Business Development at Personetics

How banks can unlock the power of hyper-personalisation to maximise customer financial wellbeing

Banks find themselves thrown “back to the future”. After more than a decade of record-low rates, suddenly higher central bank base rates mean interest rates are on the rise and bank customers are starting to shop around for the best place to park their money. Yet the traditional tactics banks have historically used to retain and grow their custome...

/retail /cloud

Retired Member

Retired Member 

The Costly Consequences of Unethical AI Whisperer

Yes.. I am talking about the AI applications - our myriad AI applications and upcoming ones whispering to humans about what to do…. how to do it…but not about the whisperers who interact with the AI chatbots. According to IDC predictions, the global AI market could reach over $500 billion by 2024 – a more than 50% increase

/security /regulation

Nathan Stevenson

Nathan Stevenson CEO and founder at ForwardLane

Unlocking the potential of GPT technology for financial advisors

Financial advisors are increasingly turning to technology to help them provide the best advice for their clients in the most efficient manner possible. One of the most effective tools for this task is Generative Pre-trained Transformer (GPT) chatbot technology. GPT technology can provide tailored guidance that takes into account individual client ...

/wealth

Akshay Berry

Akshay Berry Manager at Infosys Limited

Augmenting with AI: Exploring new possibilities in BFSI

Evolving customer preferences and the emergence of digital disruptors are rapidly changing the banking landscape. As banks evolve from a banking as a product model to an ecosystem experience, changes are necessitated to business processes, IT Architecture, as well as operating model. With increasing focus on efficiency and experience, digital tech...

/predictions

Iain Swaine

Iain Swaine Director EMEA, Global Advisory at BioCatch

A new era of consumer protection: the proposed regulation that has UK banks on alert

Iain Swaine, Global Advisory Director EMEA, BioCatch and Katie McKenzie, Engagement Manager EMEA, BioCatch The financial industry is preparing itself for a surge in Authorised Push Payment (APP) scam reimbursements. Why? Because the statistics speak for themselves. In the UK alone, APP scams cost consumers close to £250 million in the first half of...

/regulation /crime

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