Latest Artificial Intelligence reports and research: Finextra Research

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The Future of AI: Applications for banking business transformation

While artificial intelligence has established itself as a disruptive technology for decades, AI is at the peak of the hype cycle now and banks have started to apply this technology to transform traditional models of businesses. However, being a multi-faceted technology, financial institutions must decipher whether it is machine learning, robotics, deep learning, business intelligence, natural language processing or algorithms that are the most beneficial. While some banks launch chatbot applications and virtual assistants, others do not have the talent within the business to deploy innovative products that are personalised for their customers, and an even smaller number do not understand the value of AI. Finextra’s The Future of Artificial Intelligence 2019 report will explore how the financial services industry can leverage tried and tested experiments of AI in other industries to transform how transaction services can be reshaped. The report looks at how machine learning, deep learning and robotics could benefit banks and could improve customer experience and security, aligning decision-making factors with ethics to improve how a financial institution operates.

16 August 2019 858 downloads

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Utilising AI to Prevent Financial Crime

The convergence of open banking, data protection regulation, digitalisation of services and advancement of technology and artificial intelligence has caused profound and prolific changes to the financial services industry. It has also opened new doors and fresh opportunity for fraudsters, who are equally taking advantage of new technologies and the reams of data that now exists in the banking ecosphere. Keeping transactions secure as financial organisations move into a world of open banking is a race that gets faster by the launch of a new banking API. Risk management, cyber security and fraud strategists need to collaborate to stay ahead of the competition, while addressing the needs of the new digital customer, which includes the hefty task of protecting their data. Questions about liability in multi-party transactions and ever-increasing systems and protocols abound, as businesses transform to an end-state not yet known. New attack vectors in transactions and account opening come to the fore on a daily basis. How can banks utilise Machine Learning (ML) and AI in the fight against fraud in this real-time and fully digital marketplace With the emergence of open source technology, is there scope for data sharing to arm organisations with real-time information and anomaly detection? Could business functions communicate better internally to support the fight against fraud? This research paper by Finextra, in association with Feedzai, gathers the views of several senior data science and fraud experts from across the financial services industry on how to tackle fraud with AI as open banking and digitalisation continue to evolve.

09 May 2019 456 downloads

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AI - The Road to Transformation

The challenge for global financial institutions is how to navigate the Artificial Intelligence (AI) revolution in a successful manner. It requires a full evaluation of operational models, approach to the customer, ability to combine technological acumen with real business needs, and much more besides. At Finextra’s annual NextGen Banking London conference, speakers and panellists discussed how robotics can be deployed to automate processes and increase operational efficiency, and how advanced analytics can enable a better understanding of the customer allowing banks to improve their offering, remain competitive and also reduce fraud. Ultimately, AI is a tool with which to augment the workforce, and a cultural shift is also required in order to fully leverage the benefits to be gleaned from AI. Download this new paper produced by Finextra to find out more.

22 October 2018 132 downloads

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Capturing the AI Opportunity: Transforming Financial Services Technology and Culture

As part of the NextGen Banking London 2018 event, Intel hosted a roundtable that gathered together experts from a wide selection of the global banks to discuss the accelerating data-driven transformation in financial services due to artificial intelligence (AI) and the move towards a secure data and analytics platform it is working alongside partners to create. Under Chatham House Rule, what emerged during the discussion was a disconnect between the technology and business divisions and how some are broaching this. Download this new paper by Finextra and Intel to find out How are banks approaching AI? Who owns AI and what is driving it What are the challenges on the path to AI Implementation How banks can demonstrate the return on investment

31 July 2018 793 downloads

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The AI Revolution: Time to Get Ready

Artificial intelligence (AI) and related technologies are fast making inroads into the financial services industry. Operating in an interconnected, digital world in which money moves instantly, and faced with increasingly stringent regulations, financial institutions are turning to AI to help transform their operations. According to Forbes, organisations invest in AI developments to meet one of three objectives: Build systems that think exactly as humans do; Get systems to work without figuring out how human reasoning works; or Use human reasoning as a model but not necessarily the end goal. Download this new paper by Finextra in association with Intel to find out more on these three objectives and how AI will help financial institutions participate fully in the digital revolution.

31 July 2018 207 downloads

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Exploiting Big Data, Analytics and Visualisation for Better Decisions and Business Growth

Banks are in many ways the original data-driven businesses, generating huge volumes of transactions on an hourly basis. Coupled with the explosion of data points produced by digital and social media and ever-advancing technologies in other sectors, financial organisations have a great opportunity to streamline processes, reduce costs and utilise this data to achieve their business goals. This new paper by Finextra, in association with Qlik, brings together the views and opinions from a broad range of data experts from the financial industry on what needs to change from a business and technology perspective to enable banks to harness the power of big data, analytics and visualisation and to foster data-driven value. Download the paper to read about: How Natural language processing (NLP) will impact the flow of data and analytics ‘Navigate the noise’ and overcoming key challenges such as leadership Ensuring the technology is right from the ground up Customer regulatory compliance, security and risk strategies How increased data means increased risk

30 July 2018 540 downloads

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AI in Financial Services: Next Steps To Realising The Potential

AI has generated a lot of excitement in the past few years. While it is a disruptive technology, its potential to add value in Financial Services firms is enormous. It already exists in our lives, and we know that it has much further to go. Every day we hear more about driverless cars, chatbots, robots, robo advisors and so much more. Where will AI go, how will it change our world are questions worth pondering. Firms across the globe are becoming aware of the power of these technologies. They have started to explore how AI could improve the customer experience, enter new markets and gain revenue more quickly, reduce operational and business expenses and enhance compliance efforts. Banks always want to know their customers better and improve their relationships. AI will clearly help here. In late 2017 Finextra and Opentext conducted a survey exploring how firms are approaching AI in financial services, what areas they consider the benefits and what they view as barriers to success. Download the full report now to view the findings, we hope you find the results as compelling as we do.

19 April 2018 967 downloads