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

Abrigo

WATCH Takeaway 1 Understanding generative AI and how peers are using AI and genAI helps financial institution leaders and management vet the technology and related risks. Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. Nevertheless, understanding the technology is crucial.

Examples 222
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RegTech: How investment trends are impacting the industry—and how the ecosystem can work with the regulator

Accenture

Development was evident everywhere—product, but also management teams. I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) It’s relevant not just in banking, but capital markets, wealth management and insurance.

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RegTech: How investment trends are impacting the industry—and how the ecosystem can work with the regulator

Accenture

Development was evident everywhere—product, but also management teams. I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) It’s relevant not just in banking, but capital markets, wealth management and insurance.

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World Bank, IMF Debut Private Blockchain And ‘Quasi-Cryptocurrency’

PYMNTS

Instead, the coin will be used to study the technologies used for crypto assets, and how they can be utilized in the real world. In addition, Learning Coin’s app will serve as a “hub for knowledge” where blogs, research, videos and presentations can be stored.

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Recap of Money 20/20 USA 2023 and 10 Banking Thoughts

South State Correspondent

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Generative AI: Traditional AI was ever-present in touted solutions regarding fraud, risk management, and the customer experience.

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Small Business Banking Tests The Digital Identity Waters

PYMNTS

Rising Know Your Customer and other risk mitigation regulations have the financial services world eyeing digital identity technology. Already seeping into the consumer services world, digital identity technology is expected to hit a $12.8 billion valuation by 2024, according to the latest PYMNTS Digital Identity Tracker.

Strategy 124
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5 Benefits of expanding in-house member business lending

Abrigo

Mike Ford, managing director of financial institutions at Sageworks, discusses in a Sageworks whitepaper , “As more lenders are introduced to the MBL process, a standard system for in-house business lending can save training dollars, minimize the learning curve and, most importantly, reduce risk.”

Lending 150