Without the right tools and analytical approach, customer data is unlikely to have any significant impact on CFIs’ overall profitability. But when artificial intelligence is used to help segment data into meaningful information, there are multiple ways it can be used to help organizations enhance their relationships with existing customers and boost their overall profitability.

Financial institutions are finding that instant payments come with their own array of issues, including outages, fraud, and reputational challenges. We review these challenges and provide ways to handle them if they arise.

Continued investment in innovation is crucial for CFIs to remain competitive in this uncertain market, but it must be strategic. We outline three steps to ensure new initiatives not only meet the needs of the institution but also deliver tangible benefits that fit with the overall strategy of the organization.

Increased competition from neobanks for small businesses and Gen Z customers, rising tech budgets, and emerging opportunities are just a few of the themes highlighted in Bank Director’s 2023 Technology Survey. We summarize some of the key findings and their relevance to CFIs.

As a follow-up to last week’s coverage on ChatGPT, we used the platform to write an article about AI’s role in banking. Read on to see what this trending chatbot has to say about the use of AI, and how it can potentially help your CFI meet its goals.

ChatGPT and other artificial intelligence-backed apps have garnered a lot of attention for their ability to automate written communication, including thought leadership materials, marketing content, and even customer service interactions. They offer both potential and the possibility of potentially expensive problems. Here’s what CFIs should know about emerging AI programs.

Would-be thieves are coming up with more ways to attempt synthetic identity fraud. We delve into some of the schemes you should be on the lookout for, and detail some methods to detect, validate, and minimize losses from such fraud.

Trends in IT spending are constantly changing among CFIs. They also serve as the best roadmap for where the banking industry is heading. We provide an update on the latest investments financial IT teams are prioritizing, including three major trends.