The current prevalence of digital banking is largely focused on the customer acquisition and customer experience domains. In the future, this will evolve to a more holistic ‘financial well-being’ focus with banks potentially becoming utility players providing an infrastructure that is unburdened from legacy architecture and processes and more dependent on digital technology.
Digital Transformation is a new revolutionary movement sweeping across many industries, but banking as a sector is particularly impacted. Artificial Intelligence (AI) is a key driver in digital transformation. This article will give you a summarised perspective on the impact of AI in banking.
The promise of APIs in enabling innovation is unquestionable. Open banking has transformed the traditional banking ecosystem into one that benefits consumers and banks alike. APIs have also opened up a completely new line of business for fraudsters. According to Gartner, ‘By 2022, API abuses will be the most-frequent attack vector resulting in data breaches for enterprise web applications’.
1. The Digital Relationship Manager / 2. The Digital Category Killer / 3. The Open Platform Player / 4. The Utility Provider
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SYDNEY (Reuters) – The World Bank has priced the world’s first public bond created and managed using only blockchain in a A$100 million ($73.16 million) deal designed to test how the technology might improve decades-old bond sales practices. note: a private Ethereum blockchain is used
Artificial intelligence will reshape the world of finance over the next decade or so by automating investing and other services—but it could also introduce troubling systematic weaknesses and risks, according to a new report from the World Economic Forum (WEF).
“It’s the first time that an autonomous industrial control system will be deployed at this scale, to the best of our knowledge,” says Mustafa Suleyman, head of applied AI at DeepMind, the London-based artificial-intelligence company Google acquired in 2014.
Earlier this week Visa Inc. and Mastercard Inc., the world’s largest card networks, told an industry conference they will combine their Visa Checkout and Masterpass payment options into a single button. Spokesmen for American Express Co. and Discover Financial Services said their firms also will join the project. The aim, according to the card networks, is to make online shopping simple, letting people finish with a few clicks — an experience pioneered by PayPal Holdings …