AI

Lingmo breaks down language barriers with IBM

Try to picture this scenario: you are in a foreign country, let’s say China, on a business trip. You don’t speak the language, don’t have any contacts, and are relying on a vanilla translation app on your phone to help you get out and about. Then, something unexpected happens: your passport gets stolen. You rush […]

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How Promontory and IBM are reshaping financial services through AI

The one constant in every compliance professional’s life today is an abundance of pages. Thousands upon thousands of often complex and intellectually challenging rules, regulations and policies that dictate the boundaries of how financial institutions behave. Whether it’s the Dodd-Frank Act, which spans more than 22,000 pages, or MiFID II, which is quickly approaching the 15,000 […]

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FinTech year in review: What we saw and where we’re going

Sibos, which is one of the premier global financial conferences, seemed different this year. The dominant story is that fintech startups and banks are better off as friends than foes. Fintech, once seen as a disruptor, is now becoming a mainstream and also a collaborating partner. Taking advantage of each other’s strengths is leading to strong […]

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The five biggest technology trends affecting FinTech today

Two years ago, I wrote an article on the 6 biggest trends in FinTech. Looking back, I’m happy to say that there has been significant progress in all the areas. A year after that, I wrote Everyone is Talking about APIs to discuss a trend that, at the time, was new to the industry. In […]

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Payments provider SIBS and IBM announce a cognitive solution to combat fraud

The changes we see in the global payments landscape, driven by innovative technologies, are fundamentally changing the industry, but they come with a brand new set of challenges. Over the past decade, sophisticated fraudsters have learned to rapidly scale up their attacks, making them more skilled at exploiting payment systems. The same technology that has […]

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Transacting in real-time: IBM launches new payment systems with Zelle

The speed of change occurring today in the American payments ecosystem is unprecedented. Think of all that has happened in the last 18 months: Earlier this year the Federal Reserve released the second part of its long-anticipated report from its Faster Payments Task Force. The report outlines a path to modernizing the U.S. payments network […]

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Countering financial crimes with IBM Watson and cognitive solutions

RegTech has ushered in a new era of optimism for financial institutions. It’s now possible to leapfrog manual compliance processes and keep pace with regulatory change by employing advanced capabilities including cognitive computing. Promontory Financial Group, an IBM subsidiary that specializes in risk management and regulatory compliance, has trained Watson on regulatory content. Watson also has started to […]

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How financial institutions can get started with AI today

If 2016 was the year artificial intelligence (AI) became a buzzword for the financial services industry (among many others), then 2017 has been more a year of introspection. There’s a growing awareness on the state and application of AI within the industry. AI is not yet a magic switch, particularly for financial institutions (FIs) where […]

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Faster payments can be safer payments with augmented intelligence

What do you get when you combine rapid innovation in financial services with unprecedented data breaches? A fundamentally safer ecosystem, or a golden age for criminals? Let’s take a look. There is unprecedented transformation in the payments ecosystem, with Fintechs disintermediating banks, PSD2 opening APIs, firms creating new financial products with more convenience and speed, […]

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What technology will transform financial services?

Jeffrey McMillan, chief analytics and data officer of Morgan Stanley answered this question Reinventing Financial Services, an event hosted by IBM and The Economist. Jeff believes that big data and artificial intelligence (AI) are two core technologies that are transforming financial services business models. Mining big data with machine learning technology allows companies to harvest […]

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What does AI offer your financial institution? Lessons from SIFMA OPS 2017

What issues are the most important to your financial institution? There are likely to be as many different answers to that question as there are institutions in the industry. In the area of regulatory compliance, however, simply keeping up with the volume and variety of new and changing regulations is high on the priority list […]

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