Insights on Business

Beware of data “science projects” turned fraud prevention solutions

Insights on Business

As e-commerce has revolutionized the way we buy and sell online, we are no longer bounded by borders or time zones. Goods can be purchased from anywhere around the world at any time of day. Because of this, traditional rules-based fraud detection systems have become outdated and no longer work.

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Risk.net names IBM for “Financial Crime Product of the Year” and “Best Vendor for Innovation”

Insights on Business

While there is no prize for stopping financial crime (though, arguably there should be), occasionally there is recognition for being an integral and pioneering part of the overall financial crime management effort.

A new era of technology enabled financial risk management (Part 1)

Insights on Business

In this series of blogs, we will focus on four transformative technologies with emerging risk applications that can help banks and financial institutions grow profitability and protect the enterprise.

IBM and Thomson Reuters join forces to simplify how financial institutions tackle regulatory compliance challenges

Insights on Business

In the financial services industry in the United States, one thing remains constant – change. Whether policy makers are encouraging deregulation, or increasing regulatory requirements, regulatory change has been a constant. As recently as two weeks ago, the U.S.

Sales compensation accuracy: Questions, questions, questions

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Humans are an inquisitive bunch, salespeople especially so. There is a never-ending list of questions buzzing around a salesperson’s head and never more so than when it comes to the question of compensation. Am I meeting my customer’s needs? How do I get to the CFO?

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Three reasons for risk analysts to get ready for quantum

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Rather than explain how quantum systems work, let’s discuss what quantum will do. For the financial industry, how is quantum computing helping? What problems will it solve in the future? How and why are financial institutions getting ready for quantum now? For more insights see my ).

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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How banks are using incentive compensation management to help increase revenue and drive growth

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In a competitive financial marketplace, banks are turning to incentive compensation management (ICM) solutions for competitive advantage.

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.

Abt Electronics, Inc. simplifies rebates and co-op fund capture with IBM Incentive Compensation

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Vendor rebates and co-marketing funds can be difficult for retailers to track and successfully capture, especially when multiple, siloed legacy systems are involved.

The cloud advantage: Three approaches for implementing cloud for risk management

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Compared to traditional data centers, I believe that cloud computing has several characteristics that make it an attractive platform for risk management. First of all, the compute requirements for risk management can vary over time.

Taking a risk-based approach to compliance management

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While deregulation has been a trend over the past few years, compliance monitoring and regulatory change management remains a top focus for financial institutions of all sizes.

The doctor is in: Sales Design Thinking at the intersection of scientific method and creative problem solving

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Before becoming a sales consultant, I spent nearly twenty years working in healthcare.

Embracing the future of fraud prevention in the multi-(cloud) verse

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Riddle me this? What do a large Australian bank, a leading U.S. financial payment solutions provider, and a major New Zealand bank all have in common?

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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.

It’s time to embrace customer data privacy and security

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Customer data is the modern enterprise’s most valuable asset. For years, enterprises have collected and stored it without giving it a second thought. Now, new technology, business and regulatory challenges are forcing them to rethink how they collect and manage that data. Customer data drives innovations like artificial intelligence and blockchain solutions. For most companies, it fuels increases in their share of existing markets, and it’s the key to unlocking new ones.

Lower risk and reap rewards through Sales Performance Management

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In 1993, Alfie Kohn made a strong case that incentive plans cannot work.

Is technology replacing or augmenting the sales role in the digital age?

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Digital technology has no doubt, over the last decade, revolutionized and completely transformed customer behavior as well as redefined how businesses interact with their customers.

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.

Succeeding in the future of payments

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Embracing the future in the age of instant gratification. The payments industry is at an inflection point. Customers increasingly demand new payment options like real-time payments and P2P payments, underpinned by security and trust.

You can’t manage what you don’t measure

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“I don’t have enough data,” is something that I have never heard from a client. The real challenge today is finding the right data. Fundamental to sales performance management (SPM) is what we call Sales Performance Measurement.

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

Insights on Business

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.

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.

Delivering differentiated business value with intelligent routing of payments

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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.

Overpayments: A costly SPM mistake

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People make mistakes in all aspects of life; it’s not exactly headline news when it happens.

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

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How AI is redefining financial crimes detection technologies

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We need to talk: Meet IBM SPM this summer in Europe

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If you’re reading this, then the chances are that you’re already aware that Sales Performance Management can be something of a niche subject within organizations, often only truly understood by a handful of people such as yourself perhaps.

BNZ protects customers (and the customer experience) with IBM Safer Payments

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Bank of New Zealand (BNZ), one of the leading banks in ANZ, announced late last year that they have selected IBM Safer Payments to deliver cross-channel fraud protection to its customers.

The seven deadly sins of sales performance management

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Companies, like people, face pitfalls in corporate progress whose recurrence in one business case after another hints at root causes common to many organizations.

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.

Has GRC reached its tipping point? Observations from the front lines

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As a products organization, we have the good fortune of working with exceptional clients, industry analysts, market research teams and business partners.

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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.

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.

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.

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.

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.

Driving performance management in sales: The evolving role of the sales compensation leader

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Businesses today face the challenge of change—of growing in a market defined by sustained volatility and technological disruption. As organizations mature, central business roles must also evolve to meet the challenges of growth and organizational complexity.

Sales performance in a changing sales world

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The world of sales is changing. To make the most of every pound, dollar, or euro of sales compensation and have a sustainable impact on sales performance, sales compensation needs to be integrated into the broader aspects of sales performance.

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

Insights on Business

“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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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.

Model governance comes to fraud detection

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Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance.

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