Synechron, a global consulting and technology innovator in the financial services industry, has released the results of a survey conducted by the TABB Group for Synechron on the potential of blockchain and artificial intelligence (AI) in financial services, with respondents believing that they will have a major impact over the next 10 years. After conducting the survey with 92 banking and capital markets institutions, the findings found that there is still a perception among decision-makers that working with blockchain and artificial intelligence is in some way circumventing or changing key regulatory requirements. "Many people do not fully understand that the underlying technology is not aimed at changing the rules of compliance and regulation, but will, in fact, allow for more efficient and less risk-averse compliance with regulations," Synechron CEO Faisal Husain told Bitcoin Magazine. "The technologies are optimizing what financial institutions can achieve, not what rules they can circumvent." Husain believes that it is this perception that is the likely result of all the early hype that surrounded the use case for Bitcoin, suggesting that blockchain evangelists need to educate the markets about the realities of peer-to-peer cryptographic technologies.
Synechron, Inc., a global consulting and technology innovator in the financial services industry had hosted its semi-annual InSync Forum at the Metropolitan Club in Manhattan wherein top bankers and technologists gathered to discuss the potential of blockchain and artificial intelligence/machine learning in financial services. Synechron, with the help of TABB Group, also conducted a survey on blockchain and artificial intelligence in financial services with niche set of industry experts. The survey, that was conducted as a result of findings from Synechron's InSync Forum, covered 90 institutions in banking and capital markets, and spoke to people that are directly involved with technology decisions at their firm.
Financial Service Executives See Blockchain & AI as'Hugely Important' Advertised sites are not endorsed by us. They may be unsafe, untrustworthy, or illegal in your jurisdiction. The majority of financial service executives believe blockchain technology will be hugely important to their industry over the next 10 years, according to a survey sponsored by Synechron, a global and technology consultancy based in New York, N.Y. The TABB Group conducted the survey on behalf of Synechron, and it included 92 banking and capital markets institutions. The survey queried executives directly involved with technology decisions about the potential of blockchain technology and artificial intelligence.
Synechron, the global financial services consulting and technology company, announced Thursday (March 23) the launch of "Neo," a set of artificial intelligence (AI)-based tools for the financial services industry. In a press release, Synechron said that with Neo, financial institutions will be able deploy AI solutions that solve complex business challenges. "Financial institutions are looking to implement the latest technology to address real-world problems in financial services. Neo and Synechron's AI Accelerators will be pivotal in helping clients be at the forefront of technological advancement, while providing a comprehensive set of tools to ease and streamline processes. This will allow businesses to deploy technology-enabled processes that augment the role of individuals, allowing them to be elevated to higher-value business tasks," said Faisal Husain, Synechron co-founder & CEO, in the press release.
Synechron, a global financial services consulting and technology services provider, has today revealed the top trends it expects to see in financial services technology in 2018. These priorities touch on six key themes - Innovation, User Experience (UX) Design, Risk, Regulatory Technology (RegTech), Data, and the Cloud - that cut horizontally across the business and therefore are driving enterprise financial services decision-making. Based on Synechron's work with the world's largest global tier one investment banks and insurance companies, the company has identified the following top priorities for 2018. Innovation - will focus on taking proven new technologies from pilot to production Blockchain and Artificial Intelligence (AI) will continue to dominate in 2018. Where last year was focused on blockchain-pilots, 2018 will be focused on production.