The bank sectors are blooming under technology nowadays. It will become more furnishing to the customers shortly, and the world will be called the world of banking technology. FREMONT, CA: 2022 is going to be the world of banking or Banking Technology. The ample opportunity in this growing tech-savvy customer base space will create products that produce massive commercial value. Here are the top tech trends of this year that will make a difference in banking technology in 2022 and beyond.

At a time when financial industry analysts are seriously debating whether Amazon will get into banking, it's clear the banking market is in a state of flux when it comes to technology. Of course, mobile banking is nothing new, but it is now a "table stakes" experience, especially for younger bank customers, meaning it is a bare minimum all banks must now meet. If a bank does not have a solid mobile app, they are an also-ran, industry experts and analysts say. That way of thinking will soon apply to lots of new and emerging technologies, as banks strive to keep pace with the likes of Apple, which earlier this month introduced Apple Pay Cash, allowing customers to send and receive money via Apple Pay. "The big decision-makers are really leaning on the idea of, 'Mobile technology is taking over and there is a digital-first movement that is taking hold in the marketplace,'" says Chris George, senior vice president of client strategy at NYMBUS, a core banking modernization company.

"Amazon has a long history of machine learning" Amazon Web Services (AWS) is looking to bring machine learning (ML) to ordinary developers, launching the SageMaker service to simplify building applications, reports Enterprise Cloud News (Banking Technology's sister publication). ML is too complicated for ordinary developers, AWS CEO Andy Jassy said at a keynote during the AWS re:Invent event. "If you want to enable most enterprises and companies to be able to use ML in an expansive way, we have to solve the problem of making it accessible to everyday developers and scientists," he said. Amazon has a long history of ML, Jassy says. "We've been doing ML at Amazon for 20 years," he said.

The IBM Watson Data Platform already provides data scientists with the ability to crunch numbers and share large data sets across different public and private clouds. Now the company has its sights set on artificial intelligence (AI), reports Enterprise Cloud News (Banking Technology's sister publication). Big Blue has announcing expanded capabilities and tools for the Watson Data Platform that include data visibility and security for data scientists and developers who are creating AI-based applications. These new tools and services will be integrated within the Watson Data Platform and made available through the IBM Cloud. The company plans to make sure those building private clouds, or using its public Bluemix cloud, can have access. Watson, cognitive computing, cloud computing, as well as AI and machine learning are all part of IBM's plan for the company to grow and move away from selling legacy hardware and software packages.

Artificial intelligence (AI)-generated marketing campaign company Persado has unveiled a new product, along with a fresh $30 million credit facility to fuel further expansion, reports Julie Muhn at Finovate (Banking Technology's sister company). Persado One, the new offering, provides personalised emotional engagement at scale. The company says the new development represents the "most significant advancement to date" of Persado's AI platform. Available through the company's enterprise level of service, Persado One uses deep learning algorithms to deliver personalised messaging to a customer based on their emotional profile. The company is also launching a professional class of tools to help marketers predict response rates, generate higher performing campaigns, and refine language according to a brand's style.

Data quality and critical thinking are imperative for the advance of artificial intelligence (AI), according to expert views from an event hosted by US-based Teradata. At day three (24 October) of the Teradata Partners Conference 2017 (22-26 October), in Anaheim, California, Banking Technology was there to gauge the zeitgeist in our data-drenched world. As a quick review, on Monday (23 October), the company set out its plans in a super-slick presentation; unveiled Teradata Analytics Platform; revealed Danske Bank has launched its AI driven fraud detection platform; and showed off Agile Analytics Factory. The Era of Human-Machine Collaboration", Stephen Brobst and Yasmeen Ahmad from Teradata; Nadeem Gulzar, Danske Bank; and Andrew Stephen, Said Business School – University of Oxford; discussed a lot more than just coding. Stephen says data quality and critical thinking "should be a given but it's not happening".

Artificial intelligence (AI) fintech start-up Clinc is making its chatbot Finie more widely available through a new partnership with Enacomm, writes Julie Muhn at Finovate (Banking Technology's sister company). Through the reseller agreement, Enacomm will distribute Finie to mid-tier banks, community banks, and credit unions. Clinc CEO Jason Mars describes Enacomm as the "right partner" as the company shares Clinc's "vision for modernising the consumer banking experience". "Teaming up with Enacomm will help us to empower a greater number of smaller financial institutions, like community banks and credit unions, with next-generation, voice-controlled AI technology that otherwise would be out of reach," he states. Clinc's Finie AI chatbot leverages machine learning and natural language to engage users in natural, human-like conversations about their finances without requiring them to learn commands or rules.

The AI has "already reduced false positives by 50%" Copenhagen-based Danske Bank has gone public on its deal with Think Big Analytics, the consulting arm of Teradata, to create and launch an artificial intelligence (AI) driven fraud detection platform. The announcement is all timed sweetly to be part of the Teradata Partners Conference 2017 (22-26 October), attended by Banking Technology and held in Anaheim, California. Teradata also revealed its new data analytics platform at the show – and unveiled two other initiatives – Analytics-as-a-Service and a new software portfolio. In terms of the engine, this uses machine leaning to analyse latent features, scoring online banking transactions in real-time to provide insight regarding true, and false, fraudulent activity. Nadeem Gulzar, head of advanced analytics, Danske Bank, says by using AI it has "already reduced false positives by 50% and as such have been able to reallocate half the fraud detection unit to higher value responsibilities".

Regulatory technology (regtech) is often cited as the answer to the rising cost of compliance, risk and reporting duties at banks. Will it help financial institutions escape IT silos and enhance control over data? Neil Ainger, Daily News at Sibos' reporter, investigates. The principle of applying technology, such as regtech, to significant business challenges is "not new", says Paul Ellis, global head of regulatory product development at HSBC Securities Services. What is new is that regtech promises to marry the new landscape of post-financial crisis regulation to the new landscape of digital technologies.

Many financial services industry firms are examining the potential of distributed ledger and artificial intelligence (AI) technologies. Is it too early for any meaningful deployment? Heather McKenzie, editor of Daily News at Sibos, investigates. If distributed ledger and blockchain was the flavour of the week at last year's Sibos in Geneva, this year AI looks set to take the technology hype crown. In the wider world, there is plenty of interest in AI, with some warning of a dystopian future in which machines rule the world.