Financial Services


Blending AI with "I" - Banking Exchange

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If you're notifying a user about their credit card spending, add some contextual education about credit card personal best practices. Banks have the great advantage of housing large amounts of transactional data, that if analyzed and mined correctly, can offer powerful financial management tools. Machine learning and data analytics techniques are improving in leaps and bounds and increasingly, technology service providers are offering out-of-box solutions that can help your bank get started. She has more than 20 years' experience in developing technologies and products that help users improve their financial wellness.


Robo-advisers must do more than help millennials build wealth

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This makes sense since these services' client base skews younger than that of traditional wealth management firms. At this point, an automated adviser that can provide insights around achieving personal, career and financial goals is simply a matter of time and could be a holy grail for a variety of different financial services providers. Doing so could help them capture greater market share as millennials start to inherit their parents' assets -- a generational shift that could decide the winners among incumbents and upstarts in wealth management. Already, traditional financial services firms have started to build their own robo-advisory services to target millennials with investable assets.


How AI Machines Could Save Wall Street Brokers' Jobs

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Morgan Stanley's recent decision to partner 16,000 financial advisers with algorithms that can identify trades and prod brokers to reach out to clients is evidence of yet another in-road being made by machines into human roles. For these digital disruptors, their mastery of machine learning would make it relatively easy for them to enter finance -- arguably far more easily than financial advisers could enter the field of machine learning. Thus, for Wall Street's biggest brokerages such as Morgan Stanley, AI becomes a tool for wealth management. But as Morgan Stanley and other Wall Street firms embrace more AI, trust in wealth advisement is likely to become a triangulated relationship.


The Use of AI in Banking is Set to Explode

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The benefits of AI in banks and credit unions are widespread, reaching back office operations, compliance, customer experience, product delivery, risk management and marketing to name a few. According to a survey conducted by Narrative Science in conjunction with the National Business Research Institute, 32% of financial services executives surveyed confirmed using AI technologies such as predictive analytics, recommendation engines, voice recognition and response. Personalized communications and advice as enabled by AI can be reflected by robo advisors – online wealth management services that provide automated, algorithm-based portfolio management advice without the help of a human counterpart. Being marketed directly to banks and credit unions, Finie provides the benefits of the best AI, expanding knowledge and improving results with every interaction.


High Value Uses of AI in Fintech

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Dear readers, the 3rd part of Fintech series focuses on the role of Artificial Intelligence (AI) in the space of Fintech Services.When it comes to fintech, the idea is to create smarter AI that helps finance work better for financial sector workers, investors and anyone who simply wants to figure out the best way to pay their mortgage. By using smart agents that can examine and crunch data about individual behavior and compare to broader datasets, small and big businesses could have the ability to deliver personalized financial services as a scope and scale never possible before. AI can also power technologies that overlay humans to supply worker's activities with a tracking and oversight mechanism, helping with compliance, security, and the observation of employee actions. Possibly, it's an artificially intelligent agent that will help deliver cheaper, private services that are better and faster.


What is Artificial Intelligence? Financial Services Technology Advisory Blog

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The pace of change in digital technology is accelerating exponentially, particularly in the field of artificial intelligence (AI). This trend coupled with the exponential growth of AI accelerates high-performing organizations and will leave the slow movers behind. We view AI as a collection of multiple technologies that enable machines to sense, comprehend and act--and learn--either on their own or to augment human activities. To learn more, take a look at Accenture's Top 5 Technology Trends 2017, and at how we envision AI to change the Future of Business.


Fintech influence on the financial services industry

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To date, however, many fintech firms have focused mainly on customer experiences at the start of the deal-making process: Which trades should you buy? Taskize focuses on post-trade processing, providing practical fintech that drives efficiency in banking operations. Taskize is transforming the way financial services back offices resolve issues in and between firms, using its proprietary machine learning to aid human decision-making. Contact Taskize today and start resolving operational problems faster.


Fintech influence on the financial services industry

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To date, however, many fintech firms have focused mainly on customer experiences at the start of the deal-making process: Which trades should you buy? Taskize focuses on post-trade processing, providing practical fintech that drives efficiency in banking operations. Taskize is transforming the way financial services back offices resolve issues in and between firms, using its proprietary machine learning to aid human decision-making. Contact Taskize today and start resolving operational problems faster.


Artificial Intelligence Forecasts Financial Behavior

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Envestnet Yodlee has launched its Personal Financial Wellness Solution, billed as a suite of applications utilizing data aggregation and artificial intelligence to help financial institutions and financial technology developers provide actionable guidance to their customers across multiple devices, user interfaces and platforms. The Save for a Goal function helps users track savings goals by facilitating money movement across multiple accounts at specific time intervals. "As more consumers continue to use digital channels, they're expecting banks to offer personalized user experiences that help them reach their financial goals. By using the Envestnet Yodlee Data Intelligence Platform, our goal is to empower financial service providers to create personalized and actionable insights and recommendations for consumers.


Financial services sector needs AI, not 'Customer Service for Dummies'

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In the past 18 months, AI-powered chatbots have presented a way engagement can be transformed, enabling organizations to automate repetitive tasks, queries, and transactions to create a more efficient user experience. Forward-thinking organizations, across financial services and beyond, are already beginning to use AI to automate tedious processes, delivering efficiency while opening new revenue opportunities. Rapid advances in machine learning, natural language processing, and real-time computing have enabled users to interact with computers in the same way they would interact with a person, powered largely by chatbots. Automation frees up the live agent to focus on high-value tasks that cement customer loyalty, including handling identity theft or managing a deceased relative's account closure, which by law requires human interaction, as well as a tender hand.