Pegasystems’ Post

#GenAI is gaining traction in the #banking and #fintech industry. Five key use cases for GenAI implementation include #fraud detection and prevention, #customer service automation, #personalized financial advice, #risk assessment, and #regulatory compliance. By leveraging GenAI, banks and fintech companies can enhance their operations, improve customer experiences, and stay ahead in a rapidly evolving industry. https://lnkd.in/g-WfzYEQ

With customers demanding more from financial institutions, leading companies are increasingly looking to AI to connect with consumers in new ways. Whether it’s lending or trading, research or regulation, fraud or compliance AI is improving efficiency and experiences. “Financial institutions that focus on customer centricity and embrace technology will be the ones that succeed in the future." #genai #aiadoption #bankinginnovation #aiandml #aicompliance #aitrading #aitrading #aitransformation

I'm always surprised by the amount of manual work that persists in the financial world today. If your team is stuck in a routine of checklist-driven tasks rather than focusing on customer interactions and propelling the business forward, you might be lagging behind. "The need to automate expensive and manually intensive processes is top of mind and top of budget for financial institutions as we round out 2024 and head into 2025. To this end, enterprise workflow, robotic process automation (RPA), Machine Learning (ML), and AI are in demand – not to mention strategic agility in the open-banking era of data-driven financial services." #FinancialServices #Automation #WLA #Fintech

𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐆𝐞𝐭𝐬 𝐚 𝐒𝐮𝐩𝐞𝐫𝐩𝐨𝐰𝐞𝐫: 𝐇𝐨𝐰 𝐀𝐈 𝐢𝐬 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐢𝐳𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐌𝐨𝐧𝐞𝐲 𝐌𝐚𝐭𝐭𝐞𝐫𝐬 💰 𝐼𝑚𝑎𝑔𝑖𝑛𝑒 𝑎 𝑏𝑎𝑛𝑘 𝑡ℎ𝑎𝑡 𝑤𝑜𝑟𝑘𝑠 𝑡𝑖𝑟𝑒𝑙𝑒𝑠𝑠𝑙𝑦 𝑓𝑜𝑟 𝑦𝑜𝑢, 24/7, 𝑠𝑎𝑓𝑒𝑔𝑢𝑎𝑟𝑑𝑖𝑛𝑔 𝑦𝑜𝑢𝑟 𝑐𝑎𝑠ℎ 𝑤ℎ𝑖𝑙𝑒 𝑤ℎ𝑖𝑠𝑝𝑒𝑟𝑖𝑛𝑔 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑤𝑖𝑠𝑑𝑜𝑚 𝑖𝑛 𝑦𝑜𝑢𝑟 𝑒𝑎𝑟. 𝑇ℎ𝑎𝑡'𝑠 𝑡ℎ𝑒 𝑓𝑢𝑡𝑢𝑟𝑒 𝑜𝑓 𝑏𝑎𝑛𝑘𝑖𝑛𝑔 𝑤𝑖𝑡ℎ 𝐴𝑟𝑡𝑖𝑓𝑖𝑐𝑖𝑎𝑙 𝐼𝑛𝑡𝑒𝑙𝑙𝑖𝑔𝑒𝑛𝑐𝑒 (𝐴𝐼) 𝑜𝑛 𝑡ℎ𝑒 𝑠𝑐𝑒𝑛𝑒. 𝐵𝑢𝑐𝑘𝑙𝑒 𝑢𝑝, 𝑏𝑒𝑐𝑎𝑢𝑠𝑒 𝐴𝐼 𝑖𝑠 𝑡𝑟𝑎𝑛𝑠𝑓𝑜𝑟𝑚𝑖𝑛𝑔 ℎ𝑜𝑤 𝑤𝑒 ℎ𝑎𝑛𝑑𝑙𝑒 𝑜𝑢𝑟 𝑚𝑜𝑛𝑒𝑦 𝑖𝑛 𝑤𝑎𝑦𝑠 𝑡ℎ𝑎𝑡 𝑎𝑟𝑒 𝑏𝑜𝑡ℎ 𝑝𝑜𝑤𝑒𝑟𝑓𝑢𝑙 𝑎𝑛𝑑 𝑓𝑎𝑠𝑐𝑖𝑛𝑎𝑡𝑖𝑛𝑔. 𝑭𝒓𝒐𝒎 𝑭𝒐𝒊𝒍𝒊𝒏𝒈 𝑭𝒓𝒂𝒖𝒅𝒔𝒕𝒆𝒓𝒔 𝒕𝒐 𝑭𝒓𝒊𝒆𝒏𝒅𝒍𝒚 𝑨𝑰 𝑭𝒂𝒄𝒆𝒔: Dodge the Dark Side: Say goodbye to sleepless nights worrying about fraud. AI constantly analyzes your transactions, acting like a superhero spotting suspicious activity before it can drain your account. 𝑪𝒉𝒂𝒕𝒃𝒐𝒕𝒔 𝑩𝒆𝒄𝒐𝒎𝒆 𝒀𝒐𝒖𝒓 𝑩𝒆𝒔𝒕 𝑩𝒖𝒅𝒅𝒊𝒆𝒔: Need to check your balance at 3 am? No sweat! AI-powered chatbots are like tireless financial sidekicks, available anytime to answer your questions or complete simple tasks. 𝐔𝐧𝐥𝐨𝐜𝐤𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥: 𝑪𝒓𝒆𝒅𝒊𝒕 𝑺𝒄𝒐𝒓𝒆𝒔 𝑮𝒆𝒕 𝒂 𝑩𝒐𝒐𝒔𝒕: AI goes beyond traditional credit checks, considering a wider range of data to give you a fairer shot at getting that loan or credit card. 𝑩𝒆𝒄𝒐𝒎𝒆 𝒂𝒏 𝑰𝒏𝒗𝒆𝒔𝒕𝒎𝒆𝒏𝒕 𝑮𝒖𝒓𝒖: AI sifts through mountains of data to predict market trends, helping you make smarter investment decisions and potentially turning you into a financial whiz. 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐓𝐚𝐢𝐥𝐨𝐫𝐞𝐝 𝐉𝐮𝐬𝐭 𝐟𝐨𝐫 𝐘𝐨𝐮: 𝑹𝒆𝒄𝒐𝒎𝒎𝒆𝒏𝒅𝒂𝒕𝒊𝒐𝒏𝒔 𝒇𝒊𝒕 𝒇𝒐𝒓 𝒂 𝑲𝒊𝒏𝒈 (𝒐𝒓 𝑸𝒖𝒆𝒆𝒏): Ever feel bombarded with irrelevant financial products? AI analyzes your habits, suggesting personalized recommendations for savings accounts or investment opportunities that align with your goals. 𝒀𝒐𝒖𝒓 𝑽𝒐𝒊𝒄𝒆 𝒊𝒔 𝒀𝒐𝒖𝒓 𝑷𝒂𝒔𝒔𝒘𝒐𝒓𝒅: Imagine accessing your accounts with just your voice! AI-powered voice recognition makes phone banking secure and convenient. 𝐁𝐞𝐲𝐨𝐧𝐝 𝐭𝐡𝐞 𝐁𝐮𝐳𝐳𝐰𝐨𝐫𝐝𝐬: 𝐑𝐞𝐚𝐥-𝐖𝐨𝐫𝐥𝐝 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬: AI = Efficiency Machine: From automating document processing to handling repetitive tasks with Robotic Process Automation (RPA), AI frees up bank staff to focus on what matters most: you, the customer. 𝑺𝒆𝒄𝒖𝒓𝒊𝒕𝒚 𝑺𝒉𝒊𝒆𝒍𝒅𝒔 𝑼𝒑!: AI scans for threats like a watchful guardian, keeps your info safe, and even understands your financial needs! The future of banking is here, making it faster, safer, and personalized. Get ready to achieve your financial goals with the power of AI! #ai #genai #openai #deeplearning #machinelearning #artificialintelligence #bankingsolutions #digitalbanking  #banking #ai #futureoffinance #futureofbanking

Is 2024 the year of Gen AI application? If 2023 was the year of Gen AI hype, 2024 is the year of realisation for financial institutions - what can and cannot be done with Gen AI in a safe way that meets and can be flexible within ongoing regulatory discussions and changes. There are incredible use cases for Gen AI on both the back and front end of banking. Banking will be slower to adopt than other industries as it’s highly regulated and customer trust is critical, but 2024 will be the year we see many banks exploring these applications more deeply and developing real solutions for customers.

AI is poised to revolutionise the banking industry in several ways: through stronger fraud prevention, increased operational efficiency and improved data-driven decision making. But one area has particular significance for consumers: the increasing use of robo-advisors, AI-powered financial planning services that offer consumers advice about investments. #AI #Finance #News #CPLBookkeeping #financemanager #businesssupport #finance #decisionmaking

𝐇𝐨𝐰 𝐀𝐈 𝐢𝐬 𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 ?🚀 The #financial landscape is undergoing a profound metamorphosis, driven by the exponential growth of 𝑨𝒓𝒕𝒊𝒇𝒊𝒄𝒊𝒂𝒍 𝑰𝒏𝒕𝒆𝒍𝒍𝒊𝒈𝒆𝒏𝒄𝒆. From streamlined transactions to personalized financial advice, AI is fundamentally changing the way we interact with our money. 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞: Imagine a world where banking feels less like a chore and more like a seamless extension of your daily life. AI-powered chatbots are already available 24/7 to answer your questions and resolve issues instantly. Personalized financial assistants analyze your spending habits and goals, offering tailored recommendations and budgeting tools. Facial recognition and voice authentication make mobile banking faster and more secure, eliminating the need for passwords and PINs. 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐢𝐳𝐢𝐧𝐠 𝐑𝐢𝐬𝐤 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: In the world of finance, managing risk is paramount. AI-powered algorithms can analyze vast amounts of data, including financial history, market trends, and external factors, to create more accurate creditworthiness assessments. This translates to faster loan approvals for qualified borrowers, while minimizing risk for financial institutions. Additionally, AI can detect fraudulent activities in real-time, safeguarding your hard-earned money and preventing financial scams. 𝐔𝐧𝐥𝐨𝐜𝐤𝐢𝐧𝐠 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐢𝐳𝐞𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐞: Imagine having a financial advisor in your pocket, readily available to offer personalized advice tailored to your unique needs and aspirations. AI algorithms can analyze your income, spending habits, risk tolerance, and financial goals to provide personalized investment recommendations and wealth management strategies. 💥 As AI continues to evolve, the possibilities for transforming the financial industry are limitless. 𝐖𝐡𝐲 WATA❓ 1️⃣ 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐄𝐱𝐩𝐞𝐫𝐭𝐢𝐬𝐞: Our dedicated team at WATA brings a wealth of knowledge and experience to the table. We're committed to staying at the forefront of technology advancements. 2️⃣ 𝐓𝐚𝐢𝐥𝐨𝐫𝐞𝐝 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: We understand that every business is unique. WATA collaborates closely with clients to develop customized solutions, ensuring they align seamlessly with growth objectives. 3️⃣ 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐇𝐮𝐛: WATA isn't just a service provider; we're an innovation hub. Partner with us to pioneer advancements in reshaping the way businesses create and innovate. 4️⃣ 𝐏𝐫𝐨𝐯𝐞𝐧 𝐄𝐱𝐜𝐞𝐥𝐥𝐞𝐧𝐜𝐞: With a stellar track record spanning over 8 years, WATA brings a legacy of excellence to Software Solutions. Trust us to turn your vision into reality. 📩 Let's connect and make great things happen! 💡 Contact us today 👉 https://lnkd.in/gXTSUBjb #wata #generativeai #businessgrowth #innovation #artificialintelligence #talenthub #softwaresolutions #outsourcing #ai

Eltropy, the leading AI-powered conversations platform for community financial institutions (CFIs), today announced the general availability of the industry’s most advanced Safe-AI suite built exclusively for credit unions and community banks. The comprehensive AI suite includes AI Agents, AI Assistants, and AI Intelligence, designed to enhance service, operational efficiency, and provide better conversation intelligence for credit unions and community banks. Eltropy’s AI Agents function as intelligent digital agents on websites and voice channels, efficiently providing members with accurate information by analyzing and interpreting content. The agents can handle over 60% of common member inquiries, significantly improving self-service options. With the latest update, members can use generative AI to navigate websites more effectively, helping them find the most suitable financial products in the credit union and community bank market. Members or customers enjoy the convenience of self-service capabilities with the option to seamlessly transfer to a human agent without needing to re-authenticate or restart the conversation. AI Assistants developed for employees across all departments – including lending, collections, branches, etc. – offer quick access to internal …

Wondering how Microsoft Copilot will help your bank? Read the latest blog by my colleague Paolo Aiello. If you want more details, check out our new Copilot banking site: https://lnkd.in/ehkDt3iV #AvanadeDoWhatMatters #Banking #GenAI #copilot

Smart banks? Absolutely! JP Morgan and others are strategizing AI usage. Efficient? Damn right! It's evident in processes of Chase Capital One and Wells Fargo. Thought your money was smart before? Think again. #Banking #ArtificialIntelligence #JPMorgan #CapitalOne #WellsFargo