Expert System was recently interviewed for Business Insider’s new report “AI in Banking and Payments” discussing how AI is cutting costs, building loyalty and enhancing security for financial institutions. Here are some of the key takeaways from the report:
- AI, or technologies that simulate human intelligence, is a trending topic in banking and payments circles. It comes in many different forms, and is lauded by many CEOs, CTOs, and strategy teams as their saving grace in a rapidly changing financial ecosystem.
- Banks are using AI on the front end to secure customer identities, mimic bank employees, deepen digital interactions, and engage customers across channels.
- Banks are also using AI on the back end to aid employees, automate processes, and preempt problems.
- In payments, AI is being used in fraud prevention and detection, anti-money laundering (AML), and to grow conversational payments volume.
Visit Business Insider’s website to subscribe and download the report: http://www.businessinsider.com/ai-in-banking-and-payments-report-2018-2?r=UK&IR=T
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