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Financial services are powered by technology. The customer experience is increasingly driven by data, with tailoring of products and services to reflect individual behaviors and preferences. All of this rests on a foundation of secure, stable technology that can support agility and flexibility to adapt to customer...
Digital innovation is transforming finance. Advances in financial technology such as mobile money, peer-to-peer (P2P) or marketplace lending, robo advice, and insurance technology (InsurTech) are reshaping many areas – from payments to wealth management. Over the past decade, fintechs have already driven enhanced...
In its analysis of over 1,400 use cases from “Eye on Innovation” in Financial Services Awards, Gartner found that machine learning (ML) is the top technology used to empower innovations at financial services firms, with operational efficiency and cost optimisation as key intended business outcomes. ML is a branch of...
There is rapid adoption of artificial intelligence (AI) and machine learning (ML) in the finance sector. AI in banking is reshaping client experiences, including communication with financial service providers (for example, chat bots). Banks are exploring ways to use AI/ML to handle the high volume of loan applications...
The adoption of AI/ML in financial services is increasing as companies seek to drive more robust, data-driven decision processes as part of their digital transformation journey. For global banking, McKinsey estimates that AI technologies could potentially deliver up to $1 trillion of additional value each year. But...
Financial Institutions (FIs) need to respond with agility and business velocity to keep pace with changing economic conditions. Yet, emerging competition from fintechs and challenger banks and increasing customer expectations is making this task difficult, especially as regulatory and compliance requirements increase....
OSFF is a global conference hosted by the Linux Foundation FINOS that brings together experts across financial services, technology, and open source to engage in stimulating and thought-provoking conversations about leveraging secure open source to solve financial services industry challenges. This event showcases...
The pandemic has accelerated the trend toward remote working environments but it also pushed governance and security issues to the top of the priority list for IT departments within financial institutions. Employees, and developers in particular, need the technological agility to work remotely given the hybrid workplace...
The use of cloud computing by financial institutions has significantly increased in the last few years, a trend that was further accelerated by the COVID-19 pandemic. In the next few years, financial institutions will need to continuously balance the pressure to innovate quickly while managing risk and combating...
Private clouds combine the many benefits of cloud computing, like elasticity, scalability and agility, with the security, access control and resource customisation of on-prem infrastructure. Private clouds allow financial institutions to have greater control over hardware and software choices. They make it easier to...
Financial institutions will need to use the right mix of cloud services to maximise application performance while on-boarding innovative new capabilities. How can organisations achieve this cost-benefit balance?
Why private clouds? Regulatory compliance and data privacy requirements require financial institutions (FIs) to consider carefully where their applications are running and where the customer data is stored. The data protection and data sovereignty laws in most countries require an enterprise to keep data in certain...
Data security in the cloud – a business imperative Cloud computing has been transforming financial IT infrastructure into a utility allowing financial institutions (FIs) to access computing resources on-demand letting FIs offload costs and effort of setting-up and managing their own on-premises infrastructure, improving...
The financial services industry has evolved at an astonishing rate in recent years, underpinned by rapid advances in technology. Financial institutions (FIs) are digitising their customer journeys and scaling-up transformation. Cloud is a catalyst for enterprise business transformation and is a focus for C-suite...