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AI and generative AI use cases in banking: 6 real-world examples

Abrigo

They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. That compares to 39% of global or national banks with more than $10 billion in assets. Financial institutions have several reasons they may be reluctant to embrace generative AI.

Examples 221
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Outfoxing The Cyberfraudsters In Real-Time With Live IDs

PYMNTS

The customer base includes customers as varied as Conbase, AirBnB, EasyJet, National Crime Check and a large number of banks and financial institutions around the globe. A large number of banks and online sites still rely on knowledge-based authentication. You know the ones.

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CEO Interview: Jumio’s Stephen Stuut

Fintech Labs Insights

A recent report from the National Institute of Standards and Technology referred to this process as insecure because the phone may not be in possession of the number and the SMS may be interrupted. Passwords and codes passed via mobile devices can be hacked and there is no proof that the mobile device is in the possession of the owner.

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Finovate Debuts: Daon Brings Security and Convenience to Mobile Authentication

Fintech Labs Insights

It’s important that companies think about their customers’ digital security and digital experience, moving away from that one-size-fits-all approach, such as more complex passwords and knowledge-based authentication to a more nuanced understanding of how different customers think and feel about their security experiences.