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Jul 6, 2024 | 
finextra.com | Matt Ryan |Tejasvi Addagada |Brian Montgomery |Marcus Martinez
In a world where power and authority are often equated with loudness and assertiveness, the quiet strength of humility stands in stark contrast. True leadership, marked by humility, is a powerful force that transforms organizations and inspires loyalty and
trust among followers. Humble leaders are quick to forgive, difficult to offend, and always prioritize the well-being of their team over their own egos.
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Jul 1, 2024 | 
finextra.com | Tejasvi Addagada |Brian Montgomery |Marcus Martinez |Raktim Singh
, and with more choice than
ever, particularly when it comes to financial services, wealth management and digital asset management, the amount of choice can be confusing.
For potential clients, it can be tempting to pick whatever’s easiest rather than struggle to find the best product amongst many, hence why so many people use retail investing apps, which already had
, rather than building a relationship with a wealth manager.
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Jun 26, 2024 | 
finextra.com | Raktim Singh |Marcus Martinez
Why UK Accountants and other Financial Professionals Should Embrace Current Technology: Out with the Old, In with the New
In the light of HMRC’s new update to Accountants by Amy Chin, Aweb’s Tax writer, I thought about our accountants and other financial
professionals -the unsung heroes of the business world ensuring that our numbers add up and our tax returns don’t trigger any alarms at HMRC.
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Jun 25, 2024 | 
finextra.com | Marcus Martinez |Roman Eloshvili
Open banking has set a new normal for how banks operate. Banks, financial institutions, fintechs and other third-party providers can now seamlessly and securely transfer data amongst each other. But, open banking is more than a tool to exchange data across
the financial services ecosystem. With increased visibility into how consumers manage their finances and their preferences in doing so, banks can create enhanced banking experiences and more personalized recommendations that drive growth.
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Jun 25, 2024 | 
finextra.com | Marcus Martinez |Roman Eloshvili
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A Scalable Vector Database, a cutting-edge solution, is meticulously designed to efficiently manage high-dimensional vector data.
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Jun 24, 2024 | 
finextra.com | Marcus Martinez |Roman Eloshvili
Thinking about using a generic LLM, such as ChatGPT, to enrich customer transaction data? Think again.
A specialized enrichment LLM combined with a market database outperforms a generic LLM.
Over the past 18 months, many financial institutions have used ChatGPT (or a competitor) to get a better understanding of transactions processed. Often, the results were encouraging, with the LLM returning a cleaner, easier-to-understand transaction description
or even identifying a merchant.
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Jun 24, 2024 | 
finextra.com | Marcus Martinez |Roman Eloshvili
In recent years, Know Your Customer (KYC) processes have become increasingly critical for financial institutions and other regulated entities to mitigate risks associated with money laundering, fraud, and terrorism financing. However, traditional KYC methods
are often time-consuming, manual, and prone to errors
The emergence of Natural Language Processing (NLP) technologies offers a promising solution to revolutionise KYC procedures, enhancing efficiency, accuracy, and compliance.
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Jun 24, 2024 | 
finextra.com | Marcus Martinez |Roman Eloshvili
Artificial intelligence (AI) is set to transform the banking industry as we know it, and top management in the sector must prepare for this period of disruption before it is too late. If they do, the rewards are significant with industry leaders already
predicting that AI could boost revenues by almost $1 trillion by 2030[1].
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Jun 24, 2024 | 
finextra.com | Marcus Martinez |Roman Eloshvili |Raktim Singh |Steve Wilcockson
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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.
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Feb 24, 2024 | 
finextra.com | Steven Rackham |Brad van Leeuwen |Santosh Radhakrishnan |Marcus Martinez
In the field of business operations and management, effective accounting practices serve as a crucial foundation for maintaining financial stability and transparency. As entrepreneurs and business owners seek to navigate the complex pathways of financial
management, a fundamental decision arises: Should one rely solely on accounting software, or would the expertise of an accounting firm prove more advantageous?
