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Personal Finance News Releases
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(MoneyNewsWire.Net, October 11, 2017 ) "The Future of Artificial Intelligence in Banking", report examines the most significant uses of AI in retail banking, in both front-office and back-office implementations.
Artificial intelligence (AI) has reached the stage where it is sufficiently advanced and affordable to warrant practical implementation in financial services. Banks are busy exploring ways in which they can harness the power of AI to streamline internal processes and improve the customer experience. This report will explore what AI applications are relevant in banking at this time, examine where AI is already making an impact, and offer recommendations on how banks should proceed.
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The report offers insight into - - The particular manifestations of AI that have the most relevance for banking. - How leading banks are already implanting AI-based solutions. - The factors banks need to address when introducing AI applications.
Scope
- AI encompasses a wide range of technologies, including robotic process automation, natural language processing, advanced data analytics, and image analytics. Use of these technologies will help banks improve both front-office and back-office processes.
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- Customer-facing uses of AI include chatbots that improve communication between banks and their customers, advanced analytics that can offer proactive advice to consumers and take simple financial decisions on their behalf, and facial recognition that improves onboarding and makes it easier for consumers to log into their accounts. - Back-office AI implementations include algorithms that can identify and block cases of fraud and money laundering, and analysis of non-traditional data to assess the creditworthiness of borrowers who lack standard credit records.
Companies Mentioned: Admiral Amazon Atom Bank Bank of America DataVisor Ernest EyeVerify Facebook Google IDnow Kasisto Lenddo
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Source: EmailWire.Com
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