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Dec 11, 2024 | 
finextra.com | Boris Bialek
Interactive banking marks a new era in financial services, where customers engage with digital platforms that anticipate, understand, and meet their needs in real-time. This approach leverages AI-driven technologies such as chatbots, virtual assistants,
and predictive analytics, enabling banks to enhance digital self-service while delivering personalised, context-aware interactions.
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Jun 6, 2024 | 
finextra.com | Sergei Grechkin |Matt Ryan |Jeffrey Brown |Boris Bialek
“AI banking, or Artificial Intelligence in banking, refers to the application of various AI technologies such as machine learning, natural language processing, and robotic process automation within the banking and financial services industry.
These technologies enable banks and financial institutions to automate processes, enhance customer service, detect fraud, manage risk, and personalize financial products and services.
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Jun 6, 2024 | 
finextra.com | Matt Ryan |Jeffrey Brown |Boris Bialek |Mayuri Jain
The financial industry has been rapidly integrating Artificial Intelligence (AI) to enhance various aspects of its operations, including the pricing of interest rate derivative contracts. Interest rate derivatives, such as swaps, options, and futures, are
essential tools for managing exposure to fluctuations in interest rates.
The traditional methods of pricing these instruments rely heavily on mathematical models and vast amounts of historical data.
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Jun 6, 2024 | 
finextra.com | Jeffrey Brown |Boris Bialek |Mayuri Jain |Adam Lieberman
Digital Hospitality is a new paradigm in client engagement that emphasises what can be done through next-generation digital tools to engage clients. These tools have been used for years, but have significantly increased during the pandemic as face-to-face
meetings became less common. Today, they are a part of many companies’ outreach efforts, so what is the next step?
For many people, the answer is artificial intelligence (AI).
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Jun 5, 2024 | 
finextra.com | Vipin Sharma |Steve Morgan |Kaustuv Ghosh |Boris Bialek
"Time is money" couldn't ring truer, especially when it comes to transaction acceptance rates. Acceptance or approval rates, the percentage of successful transactions versus declined ones, serve as a vital metric for merchants. Every lost
transaction represents a missed opportunity and a potential dent in revenue and customer trust. So, the higher the acceptance rate, the greater the revenue potential and customer satisfaction.
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Jun 5, 2024 | 
finextra.com | Vipin Sharma |Steve Morgan |Kaustuv Ghosh |Boris Bialek
The global fintech market is growing rapidly with a
market size expected to top $608 billion by 2029, almost doubling from a projected $312 billion this year. In part, this can be attributed to the agile solutions and customer-centric approaches of fintechs when compared to those of traditional banks. However,
to drive true value in the financial services ecosystem, fintechs need to identify ways to cooperate with banks while still treating them as a potential source of competition.
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Jun 4, 2024 | 
finextra.com | Boris Bialek |Mayuri Jain |Adam Lieberman |Ketharaman Swaminathan
The popularity of ChatGPT stems from its ability to generate human-like text based on input, making it a valuable tool for various applications such as chatbots, customer service, language translation, and more. But what makes Chat GPT so irresistible?
ChatGPT is not your ordinary chatbot. It goes beyond simplistic trigger or keyword-based responses and engages in sophisticated, human-like interactions.
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Jun 3, 2024 | 
finextra.com | Steve Morgan |Kaustuv Ghosh |Boris Bialek |Sergiy Fitsak
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External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Rural, thrift and community banks are where large numbers of people and small businesses find access to lending and possible wealth creation.
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Jun 3, 2024 | 
finextra.com | Steve Morgan |Boris Bialek |Sergiy Fitsak |Vipin Sharma
The invasion of Ukraine passed its second anniversary recently and with that, sanctions have been revised and updated against groups or individuals linked to Russia and its allies. For example, the UK government added50
new sanctions while the US continuously reviews and expands its own lists. Now the Biden administration is suggesting that financial sanctions should be extended
to third parties who fund and supply the Russian war machine.
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Jun 2, 2024 | 
finextra.com | Boris Bialek |Mayuri Jain |Adam Lieberman |Ketharaman Swaminathan
News in your inbox
For Finextra's free daily newsletter, breaking news and flashes and weekly job board.
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External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Rural and small community banks are where large numbers of people and small businesses find access to lending and wealth creation.
