How is AI used in banking?

Harry Hodges

by: Harry Hodges

Artificial intelligence (AI) is a hot topic in multiple industries. But why, and how, is artificial intelligence used in banking? Regardless of whether financial institutions want to improve customer service, bolster personalization efforts, or optimize processes, AI-powered technology is something to consider. The benefits of using AI Accuracy Machines are becoming more accurate than human beings. AI solutions have even been used to predict heart attacks before they happen. A major reason why AI is so accurate has to do

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As I review our progress in 2018 and goals for 2019, I recognise how important it is to get out of the office and attend industry events. Whether the event is with partners, customers or prospective customers, it’s always amazing to hear how others are navigating changes in banking. Though I attended several events and workshops in 2018, one that consistently stands out is MoneyLIVE. MoneyLIVE is an annual retail banking conference in London, where 400+ attendees gather to

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Come visit BookingBug at booth #20 at MoneyLIVE 2018! With MoneyLIVE Summit fast approaching, it’s time to take a deeper dive into the event agenda and suss out the key sessions you won’t want to miss. With over 400 attendees and 80+ speakers, this year promises to host the best of the European banking industry in London on 26-27 of November and provide an exclusive networking platform for all attendees. During the two day conference, attendees will get

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In the past, a bank's competitive edge came from product, price, and branch network size. Often, the institutions with large branch numbers took the lion’s share of the market through pure locality and convenience. Today, the main competitive advantage goes to the bank providing the best customer experience. The role of the branch Although online banking has become the primary channel for customers to conduct their day-to-day finances, research by Celent found: 77% of adults in the USA prefer

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Retail banks are at a time of rapid innovation and change, as they're faced with elevated customer expectations and formidable digital competitors. To stay relevant, banks must listen to their customers and take steps to provide a phenomenal customer experience. We recently surveyed 2,000 financial consumers in the US and UK to understand more about their expectations and interests when it comes to banking. Below are their insights. Here is the PDF of the Modern Banking Report Infographic available

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My uncle recently told me that when he was 7, he went to his local bank and opened his first savings account. To track his account balance, a teller named Marjorie gave him a little notebook called a passbook. Every time he went in to make a deposit or a withdraw money, he would wait until Marjorie was available. He would hand over the passbook to Marjorie and she would stamp the transaction and his new account balance in the

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Pundits have dubbed Blockchain a solution looking for a problem. Originally used solely for financial transactions within the crypto-currency market, the potential of this technology has grown to offer retailers horizontal applications across areas such as payments, customer relationship management, data and analytics. In this article, we examine how this versatile tech is poised to revolutionize the retail sector – and what impact it could have on your online event scheduling software. What is Blockchain? At the heart of Bitcoin and

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