Worldline Financial Services’ Post

Banks have been using some form of AI for decades to automate processes like fraud detection and anti-money laundering, but when it comes to generative AI, some big questions and concerns remain. “What scares banks…[is] fear over AI hallucinations,” says Gilles Ubaghs, Strategic Advisor with Datos Insights. “Is it going to do something weird? Is my personal advisor going to give some really sketchy advice?” Listen here for more on generative AI in banking and why we believe the first use cases are likely to be in the back office:

You may know about AI in payments – but do you understand how you can deploy it to help fast-forward your business? We’ve made it easy to get the information in our dedicated space for AI in payments. Visit today to start learning. https://vi.sa/3vnrBUJ #AI #Payments #VisaAcceptanceSolutions

OCC boss wants vendors and providers to ‘own’ AI safety, not just banks An excellent article from Giada Zampano for Banking Risk and Regulation on #AI safety and accountability. D2LT's Akber Datoo was pleased to comment on the recent speech from the head of the Office of the Comptroller of the Currency proposing a future safety framework for #AIadoption, stating: "It is only by forcing a joint financial and technological mindset of ownership of risks that we can create a more resilient and accountable framework for AI deployment." Read more https://lnkd.in/ebHiVH-R [Nb. this article requires a subscription or free trial]

AI is moving so fast that it's hard to keep up. Learn what your community bank needs to know about AI today, from regulation and risk to customer trust. https://lnkd.in/e-DWKAXu #communitybank #communitybanking #independentbanker

Banks are a leading voice in the responsible use of AI. Why? One reason is the significant benefits AI can deliver in helping banks to fight financial crime, in a manner that's transparent and easy to adopt. Read more about how our purpose-built AI addresses the Wolfsberg Principles on the safe and responsible usage of AI in detecting financial crime: https://lnkd.in/epJpbDbJ For a demo on how Hawk uses explainable AI to help banks and payment providers, visit: https://hawk.ai/ #fraud #whiteboxai #ai #artificialintelligence #aml #machinelearning #frauddetection #banking #bankingtech

Banks are a leading voice in the responsible use of AI. Why? One reason is the significant benefits AI can deliver in helping banks to fight financial crime, in a manner that's transparent and easy to adopt. Read more about how our purpose-built AI addresses the Wolfsberg Principles on the safe and responsible usage of AI in detecting financial crime: https://lnkd.in/epJpbDbJ For a demo on how Hawk uses explainable AI to help banks and payment providers, visit: https://hawk.ai/ #fraud #whiteboxai #ai #artificialintelligence #aml #wolfsbergprinciples #machinelearning #frauddetection #banking #bankingtech

Generative AI is ushering in a new era in banking, offering improved efficiency and personalization. From enhancing customer service with advanced chatbots to optimizing fraud detection, the potential for innovation is immense. Best practices include ensuring data privacy and being ethical in your use of AI. #iworkforComcast #BankingInnovation #GenerativeAI #ArtificialIntelligence https://lnkd.in/gDkKuVy7

Deepfake has raised serious concerns in the financial sector. Often, during the registration for financial services, we are asked to submit a photo while holding our Aadhaar card. With generative AI, creating a virtually identical picture within seconds has become a feasible and worrisome prospect. It is now even possible to generate hyper-realistic videos of individuals and this could enable fraudsters to exploit this technology to circumvent the verification processes established by banks. “As deepfakes improve, I think it will only become harder over time to validate if the person on the other side is real or AI-generated. This problem will be bigger for banks that have more stringent regulatory requirements during onboarding,” Nithin Kamath, CEO of Zerodha, posted on X. Read the complete article to know more 🔗 👉 https://lnkd.in/gx8Mza5y

This webinar is fast-approaching. Don't miss it! Register now 🔽 The impact of real-time payment (RTP) scams in the UK are startling, but they aren't only a UK problem. Join industry experts from Juniper Research and Visa for this live webinar to explore RTP fraud worldwide and the importance of AI in outsmarting it. Find out how award-winning Visa Protect for Account-to-Account Payments helps financial institutions prevent RTP fraud using advanced #AI, multi-network and multi-institution views of risk, and Visa data overlays.   ➡️ REGISTER NOW: https://lnkd.in/gAVdeG8X ⬅️ Marc Corbalan Nick Maynard #RealTimePayments #FraudPrevention #Innovation

Hot off the press! Strong cooperative progress with many of our largest clients on using the power of artificial intelligence (and their collective AI experience in using it) - plus the vast trove of payments information available on Swift. Enhancing many of the services hosted on the Swift Platform, including #SwiftPaymentControls. Outsmarting the bad guys. Protecting the assets of our clients. And of their clients. Worldwide. --- AI is a powerful tool in the battle against financial crime - saving billions and safeguarding customers' money. 🛡️ Teaming up with top financial institutions worldwide like @Axis, @BNY, @Deutsche, DNB, HSBC, @Intesa, @Standard, and Swift to innovate AI solutions for advanced fraud detection in payments. Discover more about the benefits: https://okt.to/WThfRE #AI #Payments #Fighting_Fraud