Artificial intelligence-powered contact center technology can help financial firms build more personalized customer service experiences, at a lower cost, by answering questions or correctly routing callers. One of Australia’s “Big Four” banks, National Australia Bank (NAB), just signed a multimillion-dollar deal with Amazon Web Services to increase its cloud-enabled efficiency and innovation. The bank […]
Tag: Artificial intelligence
Using artificial intelligence for underwriting and risk mitigation helps insurance providers be more efficient and proactive – which is especially important for cyber-related policies, as ransomware payouts top $1.2 billion. Leading insurance firm Travelers is partnering with artificial intelligence-driven provider Corvus Insurance, an Insight Partners’ portfolio company, to bring cyber-related products and services to Europe, […]
Double materiality allows investors to not only understand the environmental, social, and governance risks facing their portfolios, but also the ESG impacts that those assets could have on the wider world. The more forward-looking, comprehensive principle is already baked into EU regulation, and is starting to gain traction in the US (while also facing blowback from […]
Trade finance – which often still involves paper documents moving between banks, shippers, and exporters – is ripe for technological change. JPMorgan’s new partnership with Cleareye.ai digitizes the process and enables sophisticated automation. JPMorgan has partnered with Cleareye.ai to make trade operations and compliance more efficient and less risky. Through a combination of computer vision […]
As financial regulators increase their scrutiny (and fines), regtech tools can help firms keep themselves compliant at a lower cost. As US regulators hammer the likes of JPMorgan, Citigroup, and Bank of America with a combined $1 billion in fines for failing to properly monitor all employee messaging, comprehensive communications-surveillance tools are in high demand. […]
Instead of forming a designated innovation lab like many of its peers, Bank of America focuses on “citizen innovation,” which it credits with driving its patent supremacy: It says it has more US patents than any other financial services firm and has consistently broken its own quarterly records. In total, Bank of America has 5,556 […]
Tools that combine behavioral analytics and anomaly detection improve fraud protection and operational efficiency, while reducing the number of “false positives” that block legitimate transactions. Juniper Research estimates that online payment fraud losses will exceed $343 billion globally between 2023 and 2027, and $202 billion-asset Zurich Cantonal Bank has tapped NetGuardians to help it protect […]