Insights on Business

Four sales best practices every business needs to know

Insights on Business

Sales primarily drive business growth. However, businesses know that hiring the best sales talent is just the start of the journey; retaining well-suited employees is often a highly challenging undertaking.

Delivering differentiated business value with intelligent routing of payments

Insights on Business

Innovative payment options today are driving competition and rapid changes in the payments industry. The payments business has started to embrace a more client-centric model as payments customers, both retail and commercial markets, increasingly demand new payment options such as real-time payments.

AI and the rise of digital humans in financial services

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“AI is not going to replace managers, but managers who use AI will replace the managers who do not,” Rob Thomas, IBM General Manager of Data and AI predicted at IBM Think 2019. [1]

To energize innovation in financial services, take it outside

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Financial companies have always been innovators. But in this age of digital transformation, innovation in financial services is more important than ever to stay competitive. Innovation processes, traditionally limited to product development, are now spreading throughout the entire organization.

Lessons learned from recent incentive compensation management war stories

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In my travels to clients, I hear many war stories. Recently, these have come from new clients with recent wounds. These wounds often go deep – there are tales of long days, lost weekends, and swaths of frustrated team members.

Thinking Forward: Financial Services and the AI Revolution

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Artificial intelligence is changing the game. According to Stanford professor Andrew Ng , AI is the “new electricity,” already generating billions in value as it transforms industries such as IT, health care — and now financial services.

How financial services firms are using chatbot technology to transform their businesses

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The IBM Watson Assistant team has been busy in the past year helping clients implement state-of-the-art chatbots. The financial services industry is one of the fastest adopters of this technology. As a result, at IBM Think 2019 you’ll be able to find a number of client-led sessions.

The five key levers for radical transformation in financial services for digital success

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If Charles Darwin were still alive, I wonder what he would think about the evolution of banks? Once again, banks are being forced to evolve or die. And financial institutions that fail or refuse to become cognitive and digital will get left behind. It’s survival of the fittest at its finest.

Calling the true innovators: Venture into the future of financial services

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Three years ago, banks were looking at fintechs with a wary eye. Two years ago, they were appointing chief innovation officers to dip their toes in with proof-of-concept projects or in-house incubators. Now, they are all in.

Artificial Intelligence is a game-changer, but are you AI-ready?

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GRC is front and center at IBM Think 2019

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Many financial services organizations are struggling to manage their risk and compliance exposure in the face of ever-increasing challenges. Massive volumes of regulations are being developed across global financial market segments.

The top five challenges and opportunities for AI in RegTech

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In the span of a just few years, artificial intelligence (AI) has gone from a niche, relatively abstract concept, to entwining itself in multiple aspects of our daily lives.

How AI is redefining financial crimes detection technologies

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IBM Open Banking Platform launch: Key takeaways

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In today’s financial services industry, issues ranging from new regulations to unforeseen competitive pressures are placing ever-growing pressure on traditional banking institutions to move toward open banking models. To address this need, IBM introduced the IBM Open Banking Platform.

Why FIS chose IBM Safer Payments for payment fraud prevention

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With new payments products surfacing regularly, unpredictable threats also continue to increase with these new platforms and services. Balancing the need for adequate antifraud measures without impacting the customer experience has never been more important.

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Understanding alternative assets and the challenges of managing their risk

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Why alternative assets. Unless one has been in a Rip Van Winkle-style cryogenic state over the past few years, it would be hard not to notice the shift in asset allocations toward “alternative assets” for investment portfolios of buy side institutions. There are several reasons behind the tilt.

Advancing Innovation in the Global Financial Services Industry

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IBM RegTech Innovations. Advances in artificial intelligence (AI), blockchain, and cybersecurity are poised to transform the financial services industries.

2019: An artificial intelligence-enhanced AML odyssey

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Welcome to the brave new world of regulatory technology.

Risk management in the cloud: A strategic imperative

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For financial institutions, the benefits of moving away from legacy in-house systems to the cloud are obvious. A cloud environment offers financial institutions greater speed and agility than their current environments.

Capitalizing on Open Banking as a catalyst for digital transformation

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There’s a new normal in financial services. Regulations such as the second payment services directive (PSD2) and the Open Banking project spearheaded by the UK’s Competition and Market Authority (CMA) are driving disruption in the banking value chain.

How do you solve a $48 billion payment fraud problem?

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According to recent information from Juniper Research , online payment fraud losses from e-commerce, airline ticketing, and money transfer and banking services are expected to reach $48 billion by 2023, more than double the $22 billion in losses estimated for 2018.

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A new digital bank needs a new customer service experience

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Banks continue their digital transformation journey to create new business models to satisfy today’s demanding customers. The big questions is what’s next? How do banks prepare for this new reality? For Bradesco, a large Brazilian bank, NEXT is the answer. Next is a digital bank, completely disassociated from the Bradesco brand. Next has access to all of Bradesco’s ecosystem, ATMs, call center, internet banking. They use the Bradesco infrastructure, but they operate in parallel.

Automating is the way of the future in banking

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The future is here with the convergence of technologies and capabilities including AI, robotic process automation, blockchain, advanced analytics and cloud. Together, the convergence is causing major change in all aspects of our lives. Business processes are being recreated and automated; and to keep up, we need to change the way that we work and even our workplaces.

Where is the Financial Services Industry in the digital transformation journey?

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At last month’s Money20/20 conference, the event brought over 10,000 people together and hosted speakers from start-up disruptors to incumbent financial institutions, and everything in between. IBM was there in full force. And I had the pleasure of hosting a panel of CEOs three mornings in a row.

Digital first in banking: Going beyond the interface

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Think of the changes in the past ten years in terms of how we deal with our banking needs. We moved from telephone banking to online or internet banking. The iPhone became more popular and apps got better and more secure.

Boost efficiency through operational innovation in financial services

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Now, more than ever, banks must be smarter and faster. Operational innovation is vital in a highly competitive financial services sector, with a new community of digital banks and other firms vying for market share. CFOs in financial organizations are not taking this challenge lightly.

Celebrating International Women’s Day with more than 100 years of IBM empowering women

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“If the bringing of women – half the human race – into the center of historical inquiry poses a formidable challenge to historical scholarship, it also offers sustaining energy and a source of strength.” ” – Dr. Gerda Lerner.

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RegTalk Podcast Episode 2: Engaging and empowering the first LOD with next-gen GRC

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In a business environment defined by sustained market volatility and ever-increasing regulations, companies need the ability to integrate enterprise-wide risk management processes and multiple regulations.

Stop money laundering with a proactive AML approach

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The recently revealed $8.8 billion Troika Laundromat offshore money laundering scandal was a vast and complex deception.

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Serving payments customers in the age of instant gratification

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Like millions of others, I enjoy having a cup of coffee at various retail coffee establishments. Over the years, these coffee shops, especially the large chain variety, have evolved with upgraded choices to increase customer satisfaction and happiness.

Holistic surveillance: Treating a business like family

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If you’re a parent, you have most likely discovered the benefit of technology to help keep your children safe.

Take a risk-based approach to compliance management

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Senior executives at financial services institutions have expressed the need for a stronger link between compliance and risk as stories of improper conduct and regulatory require­ments for AML, sanctions, customer fairness, data protection and privacy continue to dominate the business headlines.

IBM hosting two day Sales Performance Management Summit in New York City

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IBM is excited to be hosting the 2019 Sales Performance Management Summit, being held in New York City for sales executives and compensation leaders. Highlights include customers who tell their stories from implementation, to go-live, to next steps on the sales performance management journey.

Solve your quota setting challenge: Start with Design Thinking

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You’re probably familiar with philosopher George Santayana’s admonition: “Those who cannot remember the past are condemned to repeat it.” While that’s hard to dispute, most of us will admit to occasionally falling short.

Technology is solving the retirement wealth decumulation challenge

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Every retiree deserves access to the life they’ve worked so hard for their entire adult lives, but poor financial planning often means that they fall short.

Incentive Compensation Management: Performance and scalability matter

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Do you ever look back and wonder, “How did I get here?” Or perhaps, “How did my career path land me this position?” and “Am I doing what I originally planned to do after completing my education?” Most of my marketing colleagues don’t know that I used to develop software as a computer programmer.

Three fundamental shifts in financial crime investigations

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Financial institutions globally are awakening to the fact that regulatory technology will drive the next wave of innovation in their approaches to understanding and stopping financial crimes. From attempted money laundering, to account takeover, to insider trading, institutions are paying attention.

Blockchain for KYC: Game-changing RegTech Innovation

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IBM RegTech Innovations. One of the best things about working at IBM—and in the RegTech field in particular—is meeting daily with the engineers and developers who are driving technological innovation in the financial industry. Consider, for example, the blockchain space.

What’s new in IBM GRC and OpenPages v8.0?

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Over the past year, the discussion of governance, risk and compliance (GRC) has continued in stories related to financial services and other sectors.

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Ground attack or air strike: Winning the banking customer battle

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You have the mission to grab territory. You called in the lieutenants to devise a strategy. The Air Force general makes a strong case to efficiently blanket the territory with air campaigns. The Army favors the tried-and-true approach of gaining ground inch-by-inch.

Get rid of the noise by streamlining your audit with IBM OpenPages

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The internal audit program is critical to any organization that intends to provide efficient, compliant and safe services to its clients.

Quantum computing finds a home in risk management

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At school, we were taught classical physics. The laws of Newtonian gravity dominated our studies and life seemed so simple – everything moved in a straight line unless acted on by an external force and F=ma, mass x acceleration. Then it all changed.

The cyber security threat landscape in financial services

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Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. “It’s It’s not a matter of if you will be breached, but just a matter of when,” he said. Fin ancial services firms must do more than just plan to prevent a data breach but knowing they will get breached, prepare to respond.