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Artificial Intelligence and Financial Services
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Praveen Sharma Head, Banking and Financial Services Practice-N.A at Virtusa
The Federal Reserve Bank of New York has reported that consumer debt reached a record high during the third quarter of 2021, amounting to $15.24 trillion. That's an increase of 1.9%, or $286 billion, from the second quarter of 2021. With the holiday shopping season in full swing, retailers are forecasting strong sales. While this is good news for...
13 December 2021 /payments /retail
Diederick Van Thiel Visionary Board Member | CEO | NED at AdviceRobo | Ecology Innovations | IKANO | Channel
The tied-on-points World Championship finale This weekend Verstappen and Hamilton will battle head-to-head for the formula one World Championship. It’s going to be a battle on team strategy, car, and driver performance. A battle fuelled with smart big data strategies and zillions of data from sensors. Formula One is one of the most competitive and...
10 December 2021 /cloud /markets
Torben Sauer Chief Executive Officer at Conpend
Trade finance supports the movement of goods around the world. It is underpinned by a parallel exchange and review of documents, from letters of credit to bills of lading. While some parts of the supply chain have embraced digitalisation, many stakeholders remain reliant on paper-based documentation. A recent International Chamber of Commerce (IC...
30 November 2021 /regulation /predictions
David Villaseca Global Head of CX, Marketing & Sales at Oracle Financial Services Group
According to The Business Research Company, the financial services market—encompassing everything from insurance and payments to lending and money management—is expected to reach $28.5 trillion by 2025. This growth results from companies rearranging their operations and recovering from the impacts of the COVID-19 pandemic. HR teams need to provide...
05 November 2021 /people /cloud
Jose Pierre CEO at Marketware International, Inc.
Some of the technologies that are changing the payments industry. Blockchain: Pending some of the technological and regulatory hurdles blockchain has great potential. Distributed ledger technology allows for secure, cost-effective, and traceable movement of money. Also, for near-instant, transparent payments, removing complex fee structures. Bloc...
04 November 2021 /payments /retail
Wayne Butterfield Global Head of Intelligent Automation Solutions at ISG
It’s been a challenging couple of years for most of us, and banks have come under specific pressures as they adapt to working from home, new and increased security threats and greater pressure to present customers with a seamless and efficient digital and phone-based service. Now, banks are starting to look to the future, and ways in which technol...
29 October 2021 /retail /predictions
Adam Pogorzelski CEO at Code & Pepper
Artificial intelligence (A.I.) is heavily used in Big Data and when it comes to the analysis of customers’ behaviour. There’s also anti-money laundering (AML) AI; it’s used to fight financial crime and guard the reputation of app providers. FinTech is about trust, after all. How exactly is it done and how can you benefit? Because cybercrime is ser...
25 October 2021 /regulation /crime
Adam Lieberman Chief AI Officer at Finastra
Having covered the importance of defining algorithmic fairness in an earlier article, I would now like to discuss the factors that can lead to model unfairness in more detail. Data and Bias Data collection is an amazing and fascinating field of study and there is a real science to collecting and maintaining high-quality datasets. There are also ma...
19 October 2021 /inclusion /predictions
Andrew Beatty Head of Wealth, Retirement & International at FIS
How well do you really know your bank’s customers? Have you met them at all? Do you know where and how they shop, what their interests and aspirations are, or their general state of mind and personal circumstances? You should. But of course, no one has psychoanalysis tools or magical algorithms to find such data on each consumer, to see exactly whe...
07 October 2021 /people /retail
Roy Prayikulam SVP Risk & Fraud Division at INFORM GmbH
For years, financial institutions have been using automated monitoring procedures to make their processes for detecting money laundering and terrorist financing as effective and efficient as possible. However, many of the solutions used still leave much to be desired in terms of effectiveness and efficiency. Silo architectures, a lack of cross-dep...
29 September 2021 /regulation /crime
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