How AI Is Reshaping Financial Services, from Fraud Detection to Regulatory Compliance
With the rapid adoption of AI technology, financial services firms are utilizing advancements in technology to derive valuable insights from complex data, detect fraudulent payments and reduce risk, and remain in compliance with the ever-evolving regulations such as T+1. Discover the various ways financial services firms are using AI technology to remain ahead of the curve across operations.
Fraudsters are constantly looking for new ways to beat existing bank systems, which requires firms use the latest advancements in technology to stay ahead. Overlaying the rules in place with machine learning can help improve detection rates, particularly when dealing with large data sets to avoid false positives.
Read on to discover how a global bank leveraged AI to increase the sophistication of their detection here.
In the News
This month, we attended AFME's Optic conference, where CTO Dan Reid spoke on how AI can unlock the potential of financial data. Dan shared his insights on AI’s role in deriving valuable insights, driving automation and efficiency. According to Dan, AI allows institutions to shift from manual processes to intelligent automation, enabling real-time data extraction and decision-making. Read the full article in FinTech Global .
Recommended by LinkedIn
Our Product Manager Paul Chambers recently shared his insights on the UK Accelerated Settlement Taskforce’s recommendations, and the critical role of automation in the transition to T+1. Drawing on lessons from North America’s T+1 journey, Paul highlights the importance of industry-wide inclusion and global alignment. Read the full article in Global Custodian to learn about the role of automation in a smooth transition.
For Paul’s recent thoughts on whether T+1 in North America was a partial success, read the latest in Financial Technologies Forum (FTF) FTF News here.
Our Head of Sales Engineering John Joseph will be speaking on A Team Insight, from A-Team Group’s upcoming webinar on best practices for buy-side data management across structured and unstructured data. Tune in on November 14, 10am ET/3pm GMT/4pm CET to learn how to navigate the complexities of data management.
Thank you for taking the time to read our latest edition of Xceptor Exchange. Be sure to follow us on LinkedIn for the most up-to-date industry news and insights into data automation.
Client Relationship Manager at Apex Group Ltd | Specialised in Financial Services: Projects, Operations and Client Relationship Management
1moYou guys are doing some awesome work MelJ - well done!!