Industry insights

AI & Machine Learning

We have seen a significant shift in how financial institutions are using technology to help support and engage with their customers.

Technology advancements such as Optical Character Recognition (OCR), Natural Language Processing (NLP), Artificial Intelligence (AI), and Machine Learning (ML) have changed the financial landscape. Changing customer expectations, fierce competition, increasing regulatory pressures and the strain to improve operational efficiency has seen the industry force itself into a reactive process where speed to market became even more vital for survival. Below we provide some thoughts and insights on emerging technologies impacting financial services.

The role of AI in an age of accelerated digital transformation in financial services

It is impossible to discuss the role of AI in financial services without highlighting that 2020 was hugely disrupted by COVID-19 and the ripple effect is expected to last for years. Financial Institutions digital transformation strategies previously defined for 2020 quickly unravelled, exposing the inefficiencies to react and respond quickly when the pandemic gripped the world at an unprecedented speed. The reality is AI is encountered by most people from morning until night.

 

Learn more

 

360_F_245704448_jdkpzyApHHsFdmv5umQDHSCjEaMFBkPk

We thought you might also be interested in

shutterstock_440065846 (1)
AI & Machine Learning

5 Reasons why banks urgently need Intelligent Document Processing

As big data becomes a fact of life for both consumers and banks, it introduces new avenues for creating revenue streams...

 

Read More

shutterstock_696464869_tile
Origination

Banks feeling the pinch with big approval delays

In the first half of 2021, Australians have experienced a major bottleneck in loan application approvals...

 

Read more

Straight-through-article
Origination

Why straight-through processing, with AI & ML, should be top of your transformation agenda

STP, powered by AI and ML isn’t just going to take the manual element out of loan applications. It’s going to help us turn open banking into an opportunity...

Read More

Speak to us today and learn how we can work together to remove the friction for your customers’ journey.