FinbotsAI’s Post

🚀 Boost Credit Union Member Growth with Generative AI 🤖 Digital innovation is paramount for credit union progress in today's financial realm. Traditional banking norms no longer suffice. Embracing Generative AI-driven digital transformation is imperative to remain competitive. However, clinging to old methods risks alienating tech-savvy members. Generative AI offers seamless experiences tailored to their needs. With Generative AI, credit unions can boost member growth, especially amongst the Gen-Z. ⚓ Generative AI aids Credit Unions provide its members with 24/7 Customer Support ⚓Generative AI can provide members with Personalized Financial Guidance ⚓Generative AI encourages members to ask Free-Format Questions ⚓Generative AI-powered chatbots support Omnichannel Interactions Discover how embracing digital innovation, particularly through Generative AI, can propel credit unions forward in the digital age. 🌟 https://lnkd.in/gnCwT-Pa #GenerativeAI #Chatbots #CreditUnion #MemberGrowth #DigitalTransformation

Inside Varo Bank’s gen AI co-pilot build-out Varo Bank is building generative AI co-pilots by tapping internal tooling and Amazon Web Services.  The $486 million digital, cloud-first bank is using AWS’ Bedrock to build generative AI applications and foundations, Viral Parikh, head of data at Varo, told Bank Automation News at Bank Transformation Summit 2024 in Charlotte, N.C. A co-pilot is an […] The post Inside Varo Bank’s gen AI co-pilot build-out appeared first on Bank Automation News. https://lnkd.in/gcJbhQ9d via Bank Automation News https://lnkd.in/gmCUTF5c November 21, 2024 at 03:00PM

Worldline And FinbotsAI Team Up To Put AI Credit Modelling In The Hands Of Financial Institutions  Read more:  https://lnkd.in/d7JbPq3A #Worldline #FinbotsAI #AICreditModelling #FintechPartnership #FinancialInstitutions #DigitalFinance #Innovation #FinancialServices   #finance #fintech #FinancialIT

📣I’ve been doing communication for #INGAnalytics since the very beginning of the #AI hype. Witnessing our organisation's dedication to leveraging the innovative technology to bring value to our employees and customers, has been truly rewarding. 🏆ING's pioneering use of #generativeai has propelled us to be recognised as one of the top four most innovative banks worldwide by Global Finance magazine. Our #GenAI chatbot has already interacted with thousands of customers while being one of the first customer-facing pilot conducted in EU. 🌟Check out our Chief Analytics Officer’s Bahadir Yilmaz interview following the award https://lnkd.in/ddZxSxne 🚀But also his insights at The New York Times https://lnkd.in/dXPrUHaf There's still much progress ahead of us but our journey towards innovation and excellence continues with passion and integrity towards an ethical and valuable use of AI. #Artificialintelligence #Analytics #Banking #Innovation #Chatbot

Generative AI In Payments: Today and Tomorrow 💡 Having exploded onto the scene less than a couple of years ago, generative AI (GenAI) technologies have evolved very rapidly, and adoption in financial services has already advanced at an extraordinary pace compared to that of other tech-related initiatives. Given its strong potential, developing a GenAI blueprint is a core requirement for payment firms to be competitive. Payment companies must consider what they can do with GenAI “today” (Wave 1, the next three years) and how to prepare for “tomorrow” (Wave 2, 2028+). These adoption waves are propelled by tech advances (e.g., faster/more efficient compute), competitive pressures, and the maturation of GenAI applications through increasing comfort level of the companies and regulatory clarity. They also need to be looking across the entire payments value chain: enabling transactions, such as developing and marketing new products and bringing new customers onboard; executing transactions – orchestrating commerce, initiating payments, and managing fraud and risk management; and providing post-transaction support to customers. The value of GenAI-led transformation of the payments industry will be clustered around three major areas: ⏱ Like other financial institutions, payment firms can achieve significant productivity and efficiency enhancements in areas such as product development, sales and marketing, customer onboarding, customer support, operations, and IT, and most are starting with these use cases. 🛡 AI and traditional ML models are already widely used by payment companies for protection – to mitigate fraud and manage risk. GenAI can enhance those models further and lead to efficiencies in fraud management, as well as risk and compliance. 🤖 GenAI will help payment companies become data-driven organizations that leverage the abundance of payments data to make faster and smarter decisions for themselves and their clients (“payments/ commerce intelligence”), generating revenue and unlocking new value creation opportunities. Furthermore, it will transform commerce and how payments are initiated and conducted. Source: Celent - https://t.ly/hDyg0 #Innovation #Fintech #Banking #FinancialServices #Payments #AML #Compliance #Product #AI #Data #Cloud #GenAI

Generative AI In Payments: Today and Tomorrow 💡 Having exploded onto the scene less than a couple of years ago, generative AI (GenAI) technologies have evolved very rapidly, and adoption in financial services has already advanced at an extraordinary pace compared to that of other tech-related initiatives. Given its strong potential, developing a GenAI blueprint is a core requirement for payment firms to be competitive. Payment companies must consider what they can do with GenAI “today” (Wave 1, the next three years) and how to prepare for “tomorrow” (Wave 2, 2028+). These adoption waves are propelled by tech advances (e.g., faster/more efficient compute), competitive pressures, and the maturation of GenAI applications through increasing comfort level of the companies and regulatory clarity. They also need to be looking across the entire payments value chain: enabling transactions, such as developing and marketing new products and bringing new customers onboard; executing transactions – orchestrating commerce, initiating payments, and managing fraud and risk management; and providing post-transaction support to customers. The value of GenAI-led transformation of the payments industry will be clustered around three major areas: ⏱ Like other financial institutions, payment firms can achieve significant productivity and efficiency enhancements in areas such as product development, sales and marketing, customer onboarding, customer support, operations, and IT, and most are starting with these use cases. 🛡 AI and traditional ML models are already widely used by payment companies for protection – to mitigate fraud and manage risk. GenAI can enhance those models further and lead to efficiencies in fraud management, as well as risk and compliance. 🤖 GenAI will help payment companies become data-driven organizations that leverage the abundance of payments data to make faster and smarter decisions for themselves and their clients (“payments/ commerce intelligence”), generating revenue and unlocking new value creation opportunities. Furthermore, it will transform commerce and how payments are initiated and conducted. Source: Celent - https://t.ly/hDyg0 #Innovation #Fintech #Banking #FinancialServices #Payments #AML #Compliance #Product #AI #Data #Cloud #GenAI 

Could generative AI be a game-changer for banks? For too long, banks have had a tradition of investing in tech that results in lower-fee services and unclear customer value. But what if AI could help them enhance customer experiences and drive deeper engagement? That’s the promise of generative AI. In our latest blog, we explore how this new technology could unlock data value for banks, benefiting customers and investors by providing personalised messaging and optimised revenue. For banks, AI-generated insights offer significant advantages by: 1. Re-engineering processes, potentially improving productivity 2. Identifying revenue opportunities 3. Enhancing customer experience by providing personalised, scalable services 4. Generating efficiencies by automating and streamlining operations Banks face ongoing technological disruption and have invested significantly to stay competitive. Generative AI has the potential to help banks unlock value trapped in siloed systems and data despite known challenges. Read and discover how generative AI could reshape the future of banking 👉: https://ow.ly/6cNF50TySWH #TwoMinuteTech #GenerativeAI #Banking #FinTech

Financial services executives are navigating the early adoption of AI with a mix of excitement and caution. While AI promises efficiency and innovation, concerns about data security and regulatory compliance persist. #AI #Fintech #FinancialServices #Innovation #DataSecurity #Regulation #Partnerships #FutureOfFinance

Webinar: How to Create Value from AI Today "GenAI and ML technologies can help banks and credit unions compete and thrive in today’s competitive landscape, but only for organizations that have trusted, accessible data. Banking leaders need to act today to curate a data estate that is ready for the promise and opportunity in Machine Learning, Predictive Analytics, and Generative AI." AI is an important tool that must be utilized to keep up with the changing world. As the banking industry steps into this new era of technology, there are higher expectations to meet. To better understand AI technologies, check out this webinar to learn more. Wednesday, August 14 at 2pm ET https://lnkd.in/gwKZNWWS #gnciwireless #gnci #support #calls #specialist #network #connection #resolve #business #router #tech #technology #company #solutions #innovation #AI #new #mobile #banking #bank #new #old #trends #2024 #AI #webinar #learn #growth #create #data #machine #value

We’re proud to have GETPAID and Revenue Insight named finalists for this year’s Payments Awards, best use of AI and data in payments. The Payments Awards recognize and celebrate companies which have demonstrated excellence and innovation in the payments industry. GETPAID is an AI-powered and fully integrated credit-to-cash solution that optimizes cash-flow and improves working capital. Revenue Insight (formerly Predictive Metrics) is FIS’ proprietary AI and ML solution offering actionable insights into cash at risk, allowing businesses to proactively identify risk, accelerate revenue and drive business growth. GETPAID and Revenue Insight are part of FIS Automated Finance suite of solutions transforming the office of the CFO from a cost center to a growth partner. Discover our best-in-class AI-powered solutions. http://spr.ly/6044lUeLq #FISAutomatedFinance #PaymentsAwards #GETPAID #AI #Revenueinsight