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City: Customers May Have Had Financial Information Stolen

U.S. News

Deputy City Attorney Eric Mitten says the city launched an investigation and determined on June 5 that malware was used to gather payment card information, including credit or debit card numbers, cardholder names, as well as expiration dates and CVV codes, from the Superion Click2Gov system used by Medford.


How AI will impact the Financial Industry of the Future

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The future of finance will be derived from Artificial Intelligence (AI), so much so, that AI in finance is already taking the industry by storm. Be it faster speeds, personalized response, reduced errors and identifying opportunities, AI technology is already at the epicentre of the biggest financial revolution to happen since the last fifty or more decades. Be it consumer electronics, transportation, retail, healthcare or marketing, Artificial Intelligence companies are ready to ride the machine learning wave of the future. Thanks to the strong technological push towards an Internet of Things (IoT) based world, even the banks are putting their money (and resources) where their mouth is. One of the biggest advantages of machine learning is that it can be designed and trained to deliver a smarter way of assisting customers.


Listening Will Be Crucial to Enhance CX for Banks Through Machine Learning, Artificial Intelligence

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Machine learning and Artificial Intelligence are two buzz terms that could have a profound effect on the overall customer experience related to financial institutions. These technologies are picking up steam as they make their way toward the mainstream in financial services, ultimately, making everything faster and more intuitive. Machine learning is a subset of artificial intelligence that enables computers to learn without being explicitly programmed. With machine learning, computers can analyze new information and compare it with existing data to look for patterns, similarities, and differences. David Gilvin, partner, banking & financial markets leader, IBM Digital Consulting, IBM, discussed this burgeoning theme during a session titled, "Machine Learning & Artificial Intelligence Powering Next Gen CX in Financial Services," at the recent Money20/20 Conference in Las Vegas.


Crooks are smart. Artificial intelligence is smarter.

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Fraudsters are getting smarter and have more access to information than ever before. Old methods of authentication -- such as passwords, PINs or even bank account numbers -- can easily be obtained by fraudsters on the dark web. To outsmart bad actors and keep customers' information safe, financial organizations should consider how tools like AI can minimize opportunities for fraud and add an extra layer of protection into their security systems. Fighting fraud has always been a key challenge in the finance industry -- especially as fraudsters get more advanced in their approaches. A 2019 survey revealed that more than 60% of banks and other financial institutions saw the volume of fraudulent activity increase from the year before.


The Rise of Artificial Intelligence in our banks - Financial Services Deloitte Australia

#artificialintelligence

Artificial Intelligence in an open banking environment has revolutionised the way customers approach and leverage their financial information. The face of banking is changing across Australia and around the globe. With the launch of open banking and the Australian Consumer Data Right, the latest digital technologies and an ever-changing regulatory landscape, customers are demanding enhanced experiences and increased value for money. Artificial Intelligence (AI) is just one technology that is enabling banks and financiers to provide increased efficiencies behind the scenes, new product lines upfront, and to ensure a heightened customer experience for all. The customer experience has become the significant driver of any brand's growth and often their point of differentiation.