Goto

Collaborating Authors


Machine Learning, AI and the Future of Data Analytics in Banking

#artificialintelligence

Here's why banks and credit unions should believe in artificial intelligence and invest in the power of advanced data analytics. Traditional retail banking providers, weighed down by monolithic legacy systems and ponderous regulations, are in uncomfortable territory. Advancements in fintech have upended the industry, enticing both large financial firms and smaller tech startups to apply disruptive technologies in ways that threaten the status quo. To become more agile and remain relevant, traditional retail banking providers find themselves exploring their technological options with focused intensity. New innovations in data analytics empower financial institutions with systems that are so smart, they learn on the go, automatically refining their algorithms and improving their results over time.


Five Innovation Trends That Will Define Banking in 2019

#artificialintelligence

The global banking sector is becoming both more strategically focused and technologically advanced to respond to consumer expectations while trying to defend market share against an increasing array of competitors. A great deal of emphasis is being placed on digitizing core business processes and reassessing organizational structures and internal talent to be better prepared for the future of banking. This transformation illustrates the increasing desire to become a'digital bank'. The importance of innovation and developing new solutions that take advantage of data, advanced analytics, digital technologies and new delivery platforms has never been more important. We are seeing organizations innovate in targeting, expanding services, re-configuring delivery channels, delivering proactive advice, integrating payments and applying blockchain technology.


Five Innovation Trends That Will Define Banking in 2019

#artificialintelligence

The global banking sector is becoming both more strategically focused and technologically advanced to respond to consumer expectations while trying to defend market share against an increasing array of competitors. A great deal of emphasis is being placed on digitizing core business processes and reassessing organizational structures and internal talent to be better prepared for the future of banking. This transformation illustrates the increasing desire to become a'digital bank'. The importance of innovation and developing new solutions that take advantage of data, advanced analytics, digital technologies and new delivery platforms has never been more important. We are seeing organizations innovate in targeting, expanding services, re-configuring delivery channels, delivering proactive advice, integrating payments and applying blockchain technology.


New Competitors Forcing Banks to Reevaluate Innovation Strategies

#artificialintelligence

Innovation continues to be a strategic priority in the banking industry, with new business models emerging including partnerships with fintech startups. As competition expands and consumer expectations for enhanced digital banking services increases, new business models in banking are emerging and being deployed in real applications. Investment in innovation and in technologies like artificial intelligence are transforming the way rich data is analyzed and applied, creating the potential for real-time contextual banking engagement. The innovation agenda has become intertwined with the digitalization agenda, with both requiring changes in culture and back office operating systems. Investment in delivery channel innovation continues to be the most important focus for the banking industry, responding to expectations set by other industries.