By capturing and leveraging massive volumes of data, financial institutions can capitalize on new data-driven business opportunities. In fact, financial institutions are already well on their way to doing so in four main ways: improving consumer experiences, optimizing risk controls, automating business processes, improving operational efficiency. These are accomplished using …
Read More »Chatbots – customer service that boosts data security and combats fraud
In an age where convenience, speed and efficiency are king, it is unsurprising that chatbots are quickly becoming a preferred method of customer service. In fact, 69% of consumers have professed a preference for artificial intelligence (AI)-powered chatbot communications, a figure expected to rise to 85% next year. What is …
Read More »Top trends in e-learning and EdTech
There has been a noticeable revival for educational products, with an increasing number of accelerators and investors becoming interested in educational startups and many corporations working to develop their own educational services/courses. At the same time, this burgeoning market is still in the nascent stage, trying to realize an undefined …
Read More »Video: FinTech expectations for 2019
At the Singapore FinTech Festival in 2018, eight experts gave their predictions for FinTech in 2019. Germany forms cybersecurity agency 4 considerations when starting to develop artificial intelligence Mobile data enabling banks to develop better customer service
Read More »Despite new technology, customers still open accounts at branches
Most predictions hold that the future of banking is digital, and financial institutions of every size now offer customers digital ways of opening accounts. Yet according to a new J.D. Power retail banking survey, most customers (even millennials) prefer opening an account at a physical branch. This is due to …
Read More »How to successfully introduce artificial intelligence in the Uzbek banking sector
Artificial intelligence (AI) will help increase the efficiency of banks in Uzbekistan. Manguberdi Abdukarimov, specialist at the National Bank of Uzbekistan, explains that AI is used in foreign banks in both back office and front office functions. The key is to gradually delegate large amounts of routine work to AI …
Read More »Bank BGZ BNP Paribas leading the way with fintech and startups
Bank BGZ BNP Paribas is leading the way in working with fintech innovations and startups in Poland. Bank BGZ BNP Paribas believes that banks and fintech should go hand-in-hand in the modern world and should work to create win-win-win solutions for banks, fintech companies and customers. In this regard, the …
Read More »How artificial intelligence is changing fintech
Artificial intelligence has taken the tech world by storm, allowing companies to cut costs, automate a variety of their processes and boost their bottom line. Most commonly, chatbots are being used as virtual assistants, customer care representatives, marketing executives and salespeople. But here are a few other ways artificial intelligence …
Read More »Infographic: banking on bots
Advancements in artificial intelligence are moving chatbots from beyond simply performing rudimentary tasks. Learn more about how chatbots are poised to revolutionize the banking industry. Video: digitizing the customer journey in financial services Video: investments in challenger banks pushing global WealthTech funding How one cybersecurity firm hit a value of …
Read More »IBM publishes codes to encourage rapid creation of artificial intelligence projects
IBM has published more than 120 code templates in order to quickly launch projects related to artificial intelligence, blockchain, cloud data and other areas. Each template contains a detailed description of the tools and a link to the repository on GitHub, which includes all relevant codes and documentation. IBM has …
Read More »4 considerations when starting to develop artificial intelligence
As digital banking becomes dominant and customers have little-to-no interaction with bank representatives, artificial intelligence will become more and more important in helping ensure that customers still receive the level of service they expect. Here are four considerations for financial institutions to keep in mind when developing and piloting artificial …
Read More »Bank of Scotland pilots virtual agent via iPhone app
Bank of Scotland, a subsidiary of Lloyds Banking Group, has launched a pilot artificial intelligence project – a virtual agent for 50,000 customers that use the Bank’s iPhone app. The app allows customers to have a messaging conversation, in real-time, with a virtual assistant that has been trained to answer …
Read More »Azerbaijani business sector using artificial intelligence
The Azerbaijani business sector is exploring the use of BotBox Artificial Intelligence. Currently, the artificial intelligence service is being tested in the public sphere by an insurance company and a catering company; however, its uses can easily be expanded to other types of businesses, including banks and financial organizations. This …
Read More »OCBC Bank in Singapore introduces artificial intelligence-powered HR mobile app
OCBC Bank has become the first in Singapore to launch a comprehensive human resources mobile application. The system, called ‘HR In Your Pocket’, includes an artificial intelligence-powered chatbot which is integrated with the bank’s HR information system and provides immediate and personalized responses, thereby freeing up HR time and other …
Read More »How Sberbank created a personal recommendation “Tips” service
In February 2017, Sberbank launched its new ‘Tips’ service, which won the ‘EFMA Innovation of the Month’ award in March 2017.The new service was created to provide their 20 million clients with useful recommendations regarding their financial patterns. The principle of the service is to help the bank clients with …
Read More »Anelik bank introduces ‘Hello, Anelik‘ system
Anelik Bank is the first financial institution in Armenia to introduce an automated system for communication with its customers via Facebook. The system, called ‘Hello, Anelik’, was launched on the February 20, 2017. Customers can use the system to receive not only information about bank products but also other useful …
Read More »TBC bank — first one to use chatbot for communication with clients
For the first time in Georgia, users of Facebook’s Messenger application will be able to access information about TBC bank products via T-Bot, an innovative financial services product which makes remote channels accessible and contemporary. T-Bot allows users to obtain information about: exchange rates loan terms and conditions locations of …
Read More »Mastercard and Getir power payments bot for Facebook Messenger
Mastercard has teamed with Turkish mobile retailer Getir for the first Masterpass payment system via Facebook’s Messenger application. Getir (“Get here”) allows users to receive delivery of 600+ everyday items by writing a message in the application. It works via credit card information and live delivery trackings. Based in Istanbul, …
Read More »First payments through Telegram Messenger in Kazakhstan
Digital-only B1NK, part of Capital Bank Kazakhstan, has unveiled the region’s “first” chat and payments bot – using Telegram Messenger. Gani Uzbekov, CEO, Capital Bank Kazakhstan, confirms that people of Kazakhstan are “tech-savvy and ready to embrace technological innovations”. He expects high potential for the payment service usage, as it …
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