LLUMO AI’s Post

Exciting news! Swift is partnering with global banks to unleash the power of AI in the fight against cross-border payments fraud. In their first pilot, they're supercharging their Payment Controls service with an AI model that analyzes historical activity patterns on the global messaging network. This means a more accurate picture of potential fraud, keeping our financial institutions one step ahead. Swift has also brought together 10 leading financial institutions to test advanced AI technology that analyzes shared data to sniff out potential fraud. By using secure data collaboration and federated learning technologies, they're unlocking a wealth of insights and identifying fraud patterns like never before. #AI

Automated customer support, client risk profiling, trading and money management, regulatory compliance, and fraud prevention are some key areas in banking being transformed by Artificial Intelligence and Machine Learning. Curious about how to leverage AI in fintech or the latest trends in banking and financial technology? Keep reading to discover how AI and ML are driving automation, enhancing fraud detection, and strengthening security in the banking sector: https://lnkd.in/eJGffFzB This post was synthetically created. #BAMmoney #Fintech #AI #MachineLearning #BankingTrends #FraudDetection #Automation #Security

AI is changing the way banks handle card disputes. Our latest blog post explores how global banks are using AI to improve efficiency, resolve issues, and deflect fraud. Discover how Rivero's Amiko Virtual Agent, is at the forefront of this change by automating dispute management and enhancing customer experiences. As AI technology advances, banks must quickly adapt to meet rising consumer expectations. Read more on our blog  👉 https://bit.ly/3V0kjz0 #AI #Fintech #Payments

Fraud is one of the most significant–and costly–risk factors facing financial institutions and payments providers today. Combatting this requires smarter AI tools and strategic partnerships. Learn 3 steps to optimize your fraud detection tools and protect your bottom line. #fraudprevention #AI #fintech #futureofmoney https://lnkd.in/ge_rRevz

Exploring the transformative impact of AI in Finance! 🚀 From algorithmic trading to fraud detection and personalized banking, AI is not just a buzzword; it's the future. Let's decode how artificial intelligence is reshaping the financial landscape. 💡🏦 #AIinFinance #Fintech #FinancialInnovation

Automated customer support, client risk profiling, trading and money management, regulatory compliance, and fraud prevention are some key areas in banking being transformed by Artificial Intelligence and Machine Learning. Curious about how to leverage AI in fintech or the latest trends in banking and financial technology? Keep reading to discover how AI and ML are driving automation, enhancing fraud detection, and strengthening security in the banking sector: https://lnkd.in/eKcqpj-7 This post was synthetically created. #BAMmoney #Fintech #AI #MachineLearning #BankingTrends #FraudDetection #Automation #Security

Read about the Amiko Virtual Agent, that can handle a dispute from start to finish, from analysing transactions and requesting information when needed to preparing documents and submitting claims. The Amiko chatbot is a stable, rules-based solution that banks can fully control. It follows five design principles described in this article. 

AI is reshaping the finance industry, making banking more secure, efficient, and personalized. There are many real-world examples of how AI is driving this change 👇 🛡️ Fraud Detection: PayPal’s AI system identifies fraudulent transactions, safeguarding users from theft. 📈 Automated Trading: Renaissance Technologies leverages AI algorithms for high-frequency trading, maximizing market opportunities. 💳 Credit Scoring: Zest AI incorporates alternative data to help lenders evaluate credit risk more accurately. 🤖 Personalized Banking: Bank of America’s AI assistant, Erica, aids customers in managing their accounts and bills seamlessly. 📄 Risk Management: JPMorgan utilizes AI to analyze legal documents, mitigating risks for their clients. 🔍 Share with us what’s the most significant AI innovation in banking you’ve seen? #NAB #Industries #Banking #Technology #UndeniableImpact #ArtificialIntelligence #Finance #Fraud #AI

rm -rf or AI - what's more dangerous back in the day this was the most dreaded command, I have seen many admins causing catastrophic damage by running this command casually. Today, with CI and CD pipelines, the damage is caused by deploy, a repercussion of the changes and dumb bugs. Banking sector has still not adopted the deploy like Facebook and Google as they do not have the appetite of fail and recover. Why #AI models have not made inroads into banking customer engagements, the fear of Trust erosion due to failure is a significant blocker. Everyone is waiting for a mechanism of building boundaries and how we can recover from the challenges. It all boils down to Trust and recovery #leadership #fintech

Generative AI is revolutionizing the banking industry, driving innovation in customer service, fraud detection, and personalized financial planning. With its ability to analyze vast datasets and generate human-like responses, banks can offer 24/7 support and tailor services to individual needs. However, data privacy, model bias, and regulatory compliance remain significant hurdles. As we harness this transformative technology, it's crucial to address these issues to build trust and ensure ethical AI deployment. Let's explore how Generative AI can shape the future of banking while navigating its complexities. #BankingInnovation #GenerativeAI #FinTech