AI is offering banks a deeper dive into data like never before, enhancing everything from fraud detection to customer service. Discover how AI not only reduces costs but also elevates your banking experience: https://lnkd.in/ge2qyRve #Banking #Fintech #CX #Fraud #DigitalTransformation #BusinessReimagination #SLK
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Transaction Banking | Cash Management | Product | eChannels | Project Management | Client Implementation & Integration
EBAday 2024 Event Explores AI Use Cases in Banking and Payments The EBAday 2024 event in Lisbon, where #Finextra organized a thought-provoking panel discussion on the growing use cases for artificial intelligence (AI) in banking and payments. The delegation (Patricia Hines Gurumurthy Palani Sara Amara Christian Sarafidis and Andy Schmidt) was perfect for this discussion, as it included experts from various institutions, who shared their insights and experiences on how AI is transforming the financial industry. One of the most interesting aspects of the panel was the results of the poll that the audience participated in. The poll asked the question: "What do you believe is the main use case for AI in banking and payments?" The responses were some of the most diversified across all #EBAday panel sessions, showcasing the broad potential that genAI offers to financial institutions. 31% of the respondents voted for streamlining operations, indicating that AI can help banks and payment providers automate and optimize their back-office processes, such as compliance, reporting, and reconciliation. 29% of the respondents voted for improving customer service, highlighting that AI can help banks and payment providers enhance their front-office interactions with customers, such as chatbots, voice assistants, and personalized recommendations. 25% of the respondents voted for enhanced risk assessment and fraud management, underscoring that AI can help banks and payment providers mitigate risks and prevent fraud by analyzing large amounts of data in real-time, detecting anomalies, and alerting human analysts. The panel also discussed where not to use AI in banking, such as in areas that require human empathy, judgment, and creativity, such as relationship management, financial advice, and innovation. By acknowledging the limitations and ethical concerns of AI, banks can ensure that they use this technology responsibly and transparently, and avoid unintended consequences and negative impacts on society. In nutshell, this was a valuable platform for discussing the growing use cases for AI in banking and payments, and the need for collaboration, innovation, and responsible adoption of this technology. By leveraging the power of AI, banks especially Transaction banking and payment providers can unlock new opportunities for growth, efficiency, and customer satisfaction, and contribute to a more inclusive, sustainable, and resilient financial ecosystem. #EBAday2024 #Finextra #AIinBanking #TransactionBanking #AIinPayments #GenAI #StreamliningOperations #CustomerService #RiskAssessment #FraudManagement #ResponsibleAI #FinancialInclusion #SustainableFinance #DigitalTransformation
EBAday 2024: Growing use cases for AI in banking and payments
finextra.com
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Helping Fin Svcs Ops leaders combine their data with AI and Human insight to obtain the intelligence to make data driven decisions to deliver more.
Nearly half of consumers are on board with AI in banking! A recent survey reveals that 44% of consumers are comfortable with AI enhancing their banking experience, especially for real-time fraud monitoring, saving advice, and automating everyday tasks. However, there's a clear generational divide, with younger users more open to AI than those over 55. Traditional banks have a golden opportunity to leverage AI to meet these evolving expectations and stay competitive.
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m.bankingexchange.com
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Enterprise Sales Leader. Lacrosse and Detroit sports fan. Love looking into emerging technologies and advancements in the space industry. I love getting outside and traveling. Send me book recommendations please!
Watching the banking sector, which plays such a big role in our daily lives and economic health, catch the digital wave is really something. This shift towards digital and mobile-first interactions has got me thinking about how we're reshaping what a bank means in today's world. Listening to experts talk about this change reminds me that banking is still all about trust and service, but the way we interact with our banks is getting a major tech upgrade. I am curious how banks are planning on introducing automation to their document handling in this digital shift. Especially, ensuring data security and compliance. #Banking #FinancialServices #Innovation https://lnkd.in/gp3GRHAA
Customer Is Still King and Queen of Banking Innovation
https://www.pymnts.com
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Artificial Intelligence in Retail Banking and the Financial Services Industry - #Couchbase blog
Artificial Intelligence in Retail Banking and the Financial Services Industry
https://www.couchbase.com/blog
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Artificial Intelligence in Retail Banking and the Financial Services Industry - #Couchbase blog
Artificial Intelligence in Retail Banking and the Financial Services Industry
https://www.couchbase.com/blog
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Artificial Intelligence in Retail Banking and the Financial Services Industry - #Couchbase blog
Artificial Intelligence in Retail Banking and the Financial Services Industry
https://www.couchbase.com/blog
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Artificial Intelligence in Retail Banking and the Financial Services Industry - #Couchbase blog
Artificial Intelligence in Retail Banking and the Financial Services Industry
https://www.couchbase.com/blog
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Artificial Intelligence in Retail Banking and the Financial Services Industry - #Couchbase blog
Artificial Intelligence in Retail Banking and the Financial Services Industry
https://www.couchbase.com/blog
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