Latest opinions that Freddie McMahon has shared on Finextra

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Freddie McMahon

Director Strategy and Innovation

DF2020 Ltd

Member since

04 Aug 2017

Location

London

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Freddie's opinions

Corporate training cannot cope with the ever-widening knowledge gap

As the pace of change continues to accelerate faster and faster, it has become overwhelmingly clear that training is no longer fit for purpose, to address the ever-widening knowledge gap. This is not to say that training is superfluous, but it should not be deployed when there are viable alternatives that are more efficient and effective and opera...

30 June 2018 /ai /regulation Fintech innovation and startups

It is time for the Digital Transformation of Corporate Governance?

Within traditional Financial Services there is a common belief that regulation has fundamentally constrained the industry, but at the same time innovation through FinTech has blossomed. The Regulators do not believe regulation is a constraint to good business and have worked closely with FinTech. Something feels out of kilter! Maybe it’s time we f...

23 June 2018 /ai /regulation Internal Auditors in Financial Services

Chatbot Natural Language Processing Unabated Hype

A lot of chatbot projects in regulated sectors, especially financial services, have reached the realisation that Natural Language Processing (NLP) has severe limitations compared to the unabated hype. NLP is powered by machine learning. Let’s call it a more realistic name. Machine-controlled learning. There are several suitable conversational a...

15 June 2018 /ai Futuristic Banking

Frugal Engineering to digitalise Standard Operating Procedures

Frugal Engineering is the science of breaking up complex engineering processes to reduce the complexity and cost of producing products, without compromising quality. One example of Frugal Engineering is the use of emergent tools designed for people to build and deploy chatbot products without the need for software engineers. Within these authoring ...

08 June 2018 /ai Operational Risk Management

GDPR is becoming a bigger problem for USA firms

There is a very interesting issue related to GDPR that has emerged from the USA. Very simply, USA firms that adhere to GDPR, but do not apply at least the same level of consent to its domestic customers may be acting illegally. The implications are staggering. The rationality for this argument is that there is a USA law related to “national origin ...

18 May 2018 /ai /regulation Banking Regulations

Is Machine versus Human a suitable sense-making framework for AI?

AI (artificial intelligence) including derivatives such as RPA (robotic process automation) have become increasingly popular, at least within conversations by the growing and growing ‘in crowd’. AI is a generic term with an incredibly broad and deep subject matter, representing a diverse range of capabilities and applications. AI is so topical that...

11 May 2018 /ai Trends in Financial Services

The convergence of Legacy Systems and FinTech using chatbots

Legacy Systems remain problematic. Legacy Systems constrain change enablement. FinTech accelerates change. Legacy Systems are costly and slow to change. FinTech is inexpensive and quick to change. The knowledge to change Legacy Systems dilutes overtime. Diluted knowledge increases cost, time and risk. Solution Stage 1 Capture Legacy Systems kno...

04 May 2018 /ai /regulation Business Knowledge for IT

Chatbots provide hope for easy to understand consent, post GDPR!

We are all being inundated with requests for consent to continue using services as the GDPR deadline rapidly comes closer and closer. Many of us are not finding the consent experience very good. The question from these experiences we need to ask ourselves are we any the wiser of understanding the context of how our personal data is processed. The...

27 April 2018 /ai /regulation Data Protection Act Issues

Chatbots provide the means to go beyond the constraints of legacy systems, but who will lead change?

After so much innovation and disruptive technologies, the issues surrounding legacy systems still prevail at scale. For example, Global Banks are spending around US$220bn a year on IT expenses, with over 70% spent on maintaining legacy systems. These huge legacy maintenance costs are delivering less each year as the complexity of needs increases,...

20 April 2018 /ai Fintech innovation and startups

Chatbots are growing and growing as a new form of intangibles

Chatbots are gaining more and more momentum throughout the public and private sectors, worldwide. Now is the time to consider chatbots from a wider perspective. Chatbots are emerging as a new class of intangible assets. Typically, each industrial strength chatbot by its very nature contains measurable knowledge, applied in practice through di...

13 April 2018 Digital Banking Trends

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