artificial intelligence

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Jun 9, 2021
In this episode, hosts Virginia Robbins and Sonia Portwood talk with PCBB's Machine Learning and Artificial Intelligence (AI) expert Shiva Sandy.
BID Newsletters
Feb 28, 2023
As AI becomes an increasingly important component of the financial world, regulators are stepping up their oversight of its risks. Now is the time for CFIs to look at potential risks that may exist within their AI programs and pre-emptively look for ways to mitigate any risks in anticipation of heightened regulatory oversight.
Jan 17, 2023
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.
Nov 18, 2022
As financial institutions increasingly rely on artificial intelligence and machine learning to determine lending worthiness, fairness testing software is becoming an important component in verifying that the algorithms lenders are relying on don’t have their own biases built in.
Jul 29, 2022
According to a recent report from McKinsey & Co., 71% of customers expect companies to personalize their interactions. Community Financial Institutions (CFIs) have traditionally delivered personalized experiences through their customer interactions and building strong relationships. But now, it’s vital to aggregate, integrate, and analyze customer data in ways that let CFIs anticipate and predict future needs.
Apr 13, 2022
Faced with shifting customer expectations, new business models, and increased competition, community financial institutions are turning to technology to remain competitive. We round up five of the key trends that continue to reshape the industry and explain how your institution can use them to stay competitive.
Mar 24, 2022
Many financial institutions are managing staffing shortages, due to the Great Resignation and COVID. In July, 44% of contact centers said staffing issues were an obstacle to good customer service. We explore how artificial intelligence can support your customers and relieve some pressure on your frontline staff, during these shortages.
Feb 3, 2022
Community financial institutions are turning to artificial intelligence to help manage risks, improve customer service, and save costs. If you are wondering how they do it, we share a few success stories, while tackling the main issue of algorithmic bias and providing three strategies to help mitigate bias.
Jan 4, 2022
Many consumers are shopping online, but many value the in-store experience with contactless shopping options. Contactless commerce is growing with the advancement of new technologies. “Pay-by-face” and RFID are two of these technologies that are finding more traction these days. We cover the latest in contactless commerce technologies.
Nov 9, 2021
Artificial intelligence (AI) is being used extensively throughout the financial industry. One area that many CFIs are finding AI especially helpful is risk management. In fact, Forrester has found that AI can increase ROI by 4x for risk management and efficiency. Here are five ways to use AI and increase your ROI.
Oct 22, 2021
Nearly 40% of American adults are now using mobile banking apps. With the pandemic accelerating existing digital trends, many community financial institutions may be wondering if expanding technology threatens their highly personal customer relationship model. But digital technology can be a powerful way to enhance the personal touch. Here are some ideas to get you started.
Sep 9, 2021
Strategic planning is starting and your institution will likely be discussing various technology initiatives. Wouldn’t it be helpful to know in which areas other financial institutions were investing? We give you the highlights of a recent survey on the spending priorities for financial institutions to guide you for next year’s plan.
Jul 16, 2021
During the pandemic, many community financial institutions added digital account opening to service their customers for PPP and EIP. Yet, should you invest in digital account opening now that branches have opened up? We help to answer that question by explaining certain customer expectations around digital account opening, the lower incremental costs involved, and the developments of AI making this process more streamlined.
May 7, 2021
Artificial intelligence (AI) is all around us. Financial institutions are using it for efficiencies, compliance, and customer experience enhancement. We cover the four main areas of AI, natural language processing, computer vision, data analytics, and automation and map out the steps that institutions can take today.
Jan 12, 2021
Automation is an important way to stay competitive, according to Fitch Ratings. Automated customer experiences, fraud detection, and wire automation are three key areas for a competitive edge.
Jan 8, 2021
Are you wondering what regulators are saying about artificial intelligence and machine learning? We give you some of the regulatory recommendations.
Jan 6, 2021
How are financial institutions spending their technology dollars in 2021? Some of the areas include digital advancements, AI, digital currencies, and cybersecurity.
Sep 1, 2020
AI decision-making systems can help community financial institutions to eliminate bias in credit decisions. We explain how to do it.
Mar 2, 2020
Our readers asked us about opening banking, cyber-attacks and AI in credit decisions. Today, we provide our insight.
Feb 21, 2020
With all the focus on artificial intelligence, it can be easy to overlook a far simpler but effective cousin: automation. Today, we look at how automation (then AI) can help your institution.
Dec 4, 2019
Facebook's AI researchers are making huge strides with chatbots, so they can communicate in a more human-like way. Should you consider chatbots?
Sep 24, 2019
As AI becomes increasingly prevalent, community bankers may want to take the time to include an AI strategy in overall strategic goals. We provide some direction.
Sep 4, 2019
Data aggregation is growing quickly, especially in the banking industry. Is your institution prepared?
May 20, 2019
Chatbots are becoming more sophisticated, and bank customers seem more willing to use them. Is now the time to start using chatbots at your bank?
May 14, 2019
It's no secret that the process of detecting money laundering is ever more complex. Can AI help?
Jan 16, 2019
Artificial intelligence early adopters have much to share on their learnings. We give you the highlights.
Jul 17, 2018
We continue yesterday's discussion on chatbots with some key considerations for community bankers.
Jul 16, 2018
Gartner estimates that by 2020 chatbots will be handling no less than 85% of all customer service interactions. We provide the basics on chatbots.
Jul 6, 2018
A recent experiment found cybercriminals would be significantly more successful in their phishing efforts if they were to add AI to those efforts. What this could mean for community banks and their cybersecurity.
Apr 6, 2018
Big Data promises a lot. But, it is important to structure the data you have, before you can maximize the customer experience. What you should know.
Mar 8, 2018
The banking industry ranks 8th in terms of its adoption and investment in AI, yet areas such as fraud detection are growing. An AI update for community banks.
Feb 16, 2018
CRM is evolving with new machine learning capabilities. How can this help community banks?
Feb 1, 2018
Machine learning shows great promise for catching money launderers and other financial fraudsters. Can regulators be persuaded?
Dec 18, 2017
In 1H 2016, 554mm records were compromised and the cyber thieves are getting more sophisticated. Some banks are turning to AI for help.