As many as a dozen financial institutions are deploying IBM’s Watson to search for signs of employee misconduct so they can avoid a Wells Fargo-size scandal. But the legal and technical limits of its use are major issues.
Banks such as Citigroup, Regions and TD have decided they need to offer mobile customers truly customized experiences. They are experimenting with different ways of doing so that come across as helpful without being intrusive.
Emerging channels and payment types have created a new ecosystem of risk, and legacy systems cannot keep up. By now it’s clear that machine learning is the answer for fighting fraud at scale. While organizations are excited about the enormous potential of machine learning in the fight against fraud, they also have questions about where they should begin, and what they should look for. Read this free 11-page report and get actionable insights to help you create a strategy for taking charge of the AI disruption that’s well underway.
Some banks are experimenting with virtual assistants that, going beyond the routine tasks they perform today, could offer investment advice or make mortgage loans 24/7. But will they ever be able to talk a nervous client through a market crash?