809 Results from /ai
Retired Member
Imagine a capital markets desk of a financial institution where a trader is about to press enter on the keyboard to initiate a market position when a message pops up on the computer screen from a regulatory agency notifying of a compliance violation before the trade is entered. With the emergence of SupTech, that day is closer than you think. As...
16 July 2018 /ai Financial Services Regulation
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
ISO 9001 is the most widely used quality management standard worldwide. There are over 1m organisations across over 170 countries that are certified to this standard. The latest edition ISO 9001: 2015 introduced major new requirements. The most important is Clause 7.1.6 as it sets the standards for the practical knowledge to support servicing cus...
13 July 2018 /ai /regulation Fintech innovation and startups
James Piggot Product Analyst at Finastra
I had a couple of good user experiences over the past couple of days, they may seem like small beer to some people but to me they point to a bright future... One was I wrote an email in Gmail that mentioned "... I have attached a PDF with the latest summary...". I then hit send but forgot to attach the PDF. The response from Gmail was to...
09 July 2018 /ai Fintech innovation and startups
AI has been a buzzword in digital banking for quite some time now. Yet not all bankers know what it can do for them in practice, especially when it comes to digital banking sales. The predictions are high. UBS research amongst 86 banks says AI could boost banks' revenues by 3.4% and cut costs by 3.9% over the next three years. According to Tabb,
09 July 2018 /ai /retail Digital Banking Trends
We all know that a Standard Operating Procedure (SOP) is a step-by-step set of instructions written by an organization to help workers carry out complex routine operations. Each SOP is aimed to achieve efficiency, quality outcomes and uniformity of performance, whilst reducing miscommunication and failure to comply with policy, regulatory and stat...
06 July 2018 /ai /regulation Finextra site news
Priya Lakshmi Digital Leader at Own
When I concluded my final project report for the Warwick Business School Executive MBA last year, one of the summary points was that financial services regulators would soon need to start looking at ‘technology as law’ and would need to write laws and policies to govern this change. Regulations would become endogenous rather than reactive as the...
05 July 2018 /ai Innovation in Financial Services
Fraud is an issue that remains constant in the financial services sector. It creates trust problems between consumers and FIs, it can discourage consumer uptake of new services and it’s expensive for everyone involved. Over £1bn has been stolen from bank customers through credit and debit card fraud in the past 12 months and one in 10 people in the...
05 July 2018 /ai /security
There is a great transformation happening in the automotive industry and this is mainly due to the introduction of artificial intelligence. These days you can find driverless cars on the streets and robots working on the factory floor. In another 20 years, you will see only autonomous vehicles to be running on the roads across the globe. AI can be...
30 June 2018 /ai Whatever...
As the pace of change continues to accelerate faster and faster, it has become overwhelmingly clear that training is no longer fit for purpose, to address the ever-widening knowledge gap. This is not to say that training is superfluous, but it should not be deployed when there are viable alternatives that are more efficient and effective and opera...
30 June 2018 /ai /regulation Fintech innovation and startups
Within traditional Financial Services there is a common belief that regulation has fundamentally constrained the industry, but at the same time innovation through FinTech has blossomed. The Regulators do not believe regulation is a constraint to good business and have worked closely with FinTech. Something feels out of kilter! Maybe it’s time we f...
23 June 2018 /ai /regulation Internal Auditors in Financial Services
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