Crystal Blythe

Apr 5, 2024 | techstrong.ai | Crystal Blythe

Like in many industries, artificial intelligence (AI) is inundating the financial services sector with opportunities to streamline operations, accelerate growth, and better cater to customer needs. Notably, one McKinsey & Company analysis found that AI could increase earnings for financial service providers by up to $340 billion through improved product productivity. This is just the tip of the proverbial iceberg.

Feb 22, 2024 | bai.org | Holly Hughes |Crystal Blythe

Large-scale security breaches unfortunately position fraud as a top concern and expense for the financial services industry. Especially alarming for banks is fast-growing synthetic identity fraud. These schemes use a combination of stolen real data and fake information to create new personas, and alone could hit $23 billion in losses by 2030 if unchecked, according to a Deloitte Center for Financial Services analysis.