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Artificial Intelligence and Financial Services
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Much is made of the ability of Artificial Intelligence to improve business performance in many different ways and places in organisations. Financial Services as a sector is no stranger to these claims but remains some way off realising the full business benefit which the technology promises. One area of very high potential benefit which appears o...
26 November 2019 /ai /security
Hani Hagras Chief Science Officer at Temenos
The US financial regulator announced earlier this month that it has opened an investigation into claims of gender discrimination by Apple Card. Apple’s own co-founder, Steve Wozniak, tweeted that algorithms used to set credit limits are inherently biased against women. This comes at a time when banks and other lenders are increasingly using machin...
22 November 2019 /ai
Ron Cogburn CEO at Exela Technologies
“Science, my lad, is made up of mistakes, but they are mistakes which it is useful to make, because they lead little by little to the truth,” wrote Jules Verne. This is a reprint from my recent article for the Forbes Technology Council I’ve been in the field of automation long enough to see that many of the most impressive advancements are still...
21 November 2019 /ai
Satish Saini Head Business Process Services Europe at Hexaware Technologies Limited
Complex Problem: Operational challenges Trade financing, where banks and financial institutions provide credit facilities in order to guarantee exchange of goods, is a centuries old industry that hasn’t seen much change with the growth of global trade flows. Banks need to transform themselves for efficiently meeting the growing trade finance demand...
11 November 2019 /ai
The reputation of any financial services organisation rests squarely on trust, security and professional integrity. Breaches of any of these profoundly damages the belief of markets, investors and customers in the others. Every financial services organisation is engaged at some level on modernising itself to remain fit for its twentieth first cen...
05 November 2019 /ai /security
Artificial intelligence has been around for quite a while now, and it’s already made a strong impact on many sectors. It should be no surprise that customer service has been one of the most affected ones, and it looks like we’re only seeing the tip of the iceberg in terms of what’s possible, too. Many changes are coming up on the horizon, and with...
29 October 2019 /ai
Chris Holmes Senior Vice President at KAE Consulting
Financial services providers have been using Artificial Intelligence (AI) and machine learning for a range of operations, including credit underwriting and conversational banking. However, one use case that has emerged as a priority for the industry is linked to the better management and prevention of fraud. Reports of fraudulent activity in 2019 ...
23 October 2019 /ai /security
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
The 0-interest policy in the euro area has been defended by the need to get inflation up to 2%. I have been wondering how that can be possible when cost of work, energy, material, tax and financing gets lower and destroying nature and climate is still not a cost. Now the Economist's "The end of inflation?" article sheds more light. My t...
23 October 2019 /regulation
Micah Willbrand Product Director ID&F at Experian UK&I
Fraudulent applications present a significant risk to a businesses’ success and reputation. As criminals become more sophisticated in targeting credit cards, loans, current accounts and other financial products, its critical lenders and other organisations ensure their fraud prevention systems are fit for purpose. One of the ways businesses can me...
08 October 2019 /ai
There’s not much you can’t get on the dark web; it’s a lawless haven for cybercriminals. As businesses continue to utilise increasingly stringent identity checks, fraudsters will always be trying to get one step ahead. Currently on sale on the dark web are passport scans. For just £55 you can get a typical passport scan with accompanying selfie. I...
07 October 2019 /ai
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