Rippleshot’s Post

Great #AI panel today at the NJ Bankers Association’s Banking on the Future conference. EY’s Yiming Chang provided the audience with real life examples of how our clients can successfully implement, execute and benefit from AI. Reach out to learn more! #communitybanking #njbankers #regionalbanking #allin #EY

EY’s Yiming Chang, The Lytic Group’s, Edward Heraux, PMP, MCSE and Peapack-Gladstone Bank | Private Banking since 1921, John Kowal discuss how banks can prepare for #AI by developing an internal AI model with built in guardrails to protect sensitive data and the need for specific AI policies.

AI is revolutionizing various sectors, including tax and banking. In tax, AI streamlines processes and enhances accuracy, while in banking, it improves customer service, fraud detection, and risk management. However, there's a common oversight: deploying AI requires significant infrastructure, from vast computational resources to robust data management systems. Without this, AI's potential can’t be fully realized. That infrastructure is the backbone that supports the growing AI presence across industries.

Using AI to Automate Compliance Monitoring and Reporting Tasks . Compliance monitoring is a critical aspect of banking, and AI is making it more efficient than ever. AI-powered tools can analyze vast amounts of data, identify patterns, and detect anomalies that may indicate fraudulent activities or money laundering. By leveraging machine learning algorithms, AI can also improve over time as it learns from new data and adapts to changing trends. Additionally, AI can help banks automate compliance tasks, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, reducing the risk of human error and freeing up resources for more strategic initiatives. Overall, AI can enhance the effectiveness and efficiency of banks' financial crime prevention efforts, helping to protect both the institution and its customers. #artificalinteligance #AI #banking #finance #automation #digitalization

“AI is not a silver bullet, and leveraging this capability comes from deep understanding of the business problems and infusing these tools and techniques in the right place within the infrastructure and ecosystem,” shares Adam Gable, senior product director at Temenos . Read this article from The Banker for more insights on #AI and regulation, security, and progress in #payments: https://lnkd.in/gSxwT6j6 Temenos @FinancialTimes @FinancialExpress @WorldNewsNetwork @CorporateFinanceInstitute @CoreBank @Newsweek @BankingNews.gr @TheWorldNewspaper @BancoNacionaldeBoliviaS.A. @BancoNacionaldeCrédito @WorldDailyNews24 @24WorldNews #Temenos #FinancialTimes #FinancialExpress #WorldNewsNetwork #CorporateFinanceInstitute #CoreBank #Newsweek #BankingNews.gr #WorldBank #BancoNacionaldeBoliviaS.A. #BancoNacionaldeCrédito #WorldDailyNews24 #24WorldNews

“AI is not a silver bullet, and leveraging this capability comes from deep understanding of the business problems and infusing these tools and techniques in the right place within the infrastructure and ecosystem,” shares Adam Gable, senior product director at Temenos . Read this article from The Banker for more insights on #AI and regulation, security, and progress in #payments: https://lnkd.in/eJuUHpXP

“AI is not a silver bullet, and leveraging this capability comes from deep understanding of the business problems and infusing these tools and techniques in the right place within the infrastructure and ecosystem,” shares Adam Gable, senior product director at Temenos . Read this article from The Banker for more insights on #AI and regulation, security, and progress in #payments: https://lnkd.in/g7r4VFRe

“AI is not a silver bullet, and leveraging this capability comes from deep understanding of the business problems and infusing these tools and techniques in the right place within the infrastructure and ecosystem,” shares Adam Gable, senior product director at Temenos . Read this article from The Banker for more insights on #AI and regulation, security, and progress in #payments: https://lnkd.in/d33KSXrA

“AI is not a silver bullet, and leveraging this capability comes from deep understanding of the business problems and infusing these tools and techniques in the right place within the infrastructure and ecosystem,” shares Adam Gable, senior product director at Temenos . Read this article from The Banker for more insights on #AI and regulation, security, and progress in #payments: https://lnkd.in/gdxAXj38

“AI is not a silver bullet, and leveraging this capability comes from deep understanding of the business problems and infusing these tools and techniques in the right place within the infrastructure and ecosystem,” shares Adam Gable, senior product director at Temenos . Read this article from The Banker for more insights on #AI and regulation, security, and progress in #payments: https://lnkd.in/g69TXUFV