Tag: automation

Banks are realizing that by pairing automated rebalancing and algorithmic advice with phone advisor consults, they can win over younger, digital-savvy investors without a high price tag. The likes of JPMorgan, Ally Financial, Truist, and Bank of America have all expanded from offering standard automated robo-advising to providing supplemental personal consultations with financial advisors. Clients […]

Tech tools that use automation to compile and analyze data allow lenders to make approvals much faster, without increasing risk – which ultimately allows them to serve more businesses (with greater returns). HSBC has rolled out a digital platform for collateral-based receivables finance lending that it co-created with fintech Trade Ledger to make it simpler, […]

Automation makes workers more efficient, but it can also help them feel fulfilled and create better products. Capital One leans on automation to help its engineers enjoy their jobs.   Uninteresting, manual, and repetitive work that doesn’t add value can be a major source of burnout for engineers, Marty Andolino, a VP of engineering at Capital […]

Complex IT systems require increased visibility: Observability platforms can help teams understand their tech stacks, troubleshoot and optimize data workloads, and keep costs under control.  Mastercard’s back-end infrastructure is incredibly complicated and inter-connected. “Big data means that even a small problem can cause a large impact,” Mastercard principal engineer Chinmay Sagade said in a presentation last […]

By combining vast swathes of data with fine-tuned risk management models, banks can accelerate legitimate transactions and flag suspicious ones, striking a balance between customer ease and safety.  Deutsche Bank is baking an automated fraud detection system from Visa-owned Cybersource into its ecommerce solution for merchants. The tool automatically calculates a risk value for each […]

SWIFT mines its vast data flows to detect and flag the most common cause of cross-border payment delays: Errors in payee information. This capability is made possible thanks to SWIFT’s near-ubiquity as a bank-to-bank messaging platform, underscoring the benefits of analyzing massive datasets. In its quest to enable real-time international payments, SWIFT has launched a […]

AI-powered digital assistants can reduce call center volume and boost customer satisfaction by answering questions about routing numbers, balances, credit scores, bills, and more.   Using chatbots to handle routine customer questions or guide users through new product sign-ups has become an increasingly common way for financial institutions to save resources and answer questions quickly […]

By combining automation and personalization, banks can increase customer satisfaction – and wealth. Ally Financial knew many of its customers struggled to save money, so it became laser-focused on creating ways to make it easier: Its Smart Savings tools provide customized prompts and automated transfers to help users grow their account balances. The tools are […]

As swamped compliance teams struggle to keep up with the rapid influx of regulatory documents and enforcement actions, AI-powered software that scans, synthesizes, and provides recommendations can improve productivity and reduce errors.  Compliance.ai monitors sources of new regulation, uses machine learning to highlight the changes that are relevant to a given financial institution, and automatically routes […]

Trade finance has traditionally been a highly manual, paper-based process with multiple checkpoints – making it ripe for digitization, automated classification, data extraction, and machine-learning powered accuracy checks.   Deutsche Bank just announced that it’s further integrating with Traydstream, a platform that digitizes and extracts data from trade finance documents to automatically check for errors […]