Artificial Intelligence and Deep Learning
As reported at McKinsey.com, an analysis by the McKinsey Global Institute (covering more than 800 jobs and over 2,000 work activities) showed that: Globally, almost half the activities employees perform—which account for nearly USD 16 trillion in wages—could potentially be automated using existing proven technologies. Automation will transform far more jobs than it will eliminate.…
Pymnts.com features a podcast with Ingo Money CEO Drew Edwards and Karen Webster discussing the new risk of fraud related to remote mobile check deposits. “Mobile check capture fraud is now escalating so badly that some banks are thinking about shutting it off, because the losses just aren’t worth it,” Edwards states. It’s an interesting…
Microsoft Corp. will stop supporting its Windows 7 operating system next January, which is a bellwether to both independent operators of ATM machines and large financial institutions — time to update! Digital Transactions reports that independent ATM operators seem to have the upper hand in the conversion race: Independent ATM owners’ decision to eschew Windows…
In the banking industry, AML/KYC (Anti Money Laundering and Know Your Customer) was previously a very slow, methodic process — the government would put out their lists of sanctioned bad guys (hostile governments, drug kingpins, organized crime organizations and affiliates, etc.) and compliance teams would then carefully (and manually) check onboarding customers to make sure…
In the third annual edition of its “The Best Bank for You” report, Kiplinger identifies top picks among national, regional, and internet banks, as well as credit unions, that offer the best combination of high rates, low fees, and a customer-friendly focus. Many of these institutions are customers of OrboGraph, so it’s is great to…
An article from Digital Transactions finally quantifies the relationship between payments fraud and terrorism! Startling facts in this report show that, outside of pure fraud losses, there is a crucial national security component to fraud prevention. Information-security firm Terbium Labs, in its “The Next Generation of Criminal Financing: How Payment Fraud Funds Transnational Crime” report,…
For all the upbeat and optimistic talk about Artificial Intelligence and its emerging role in the banking industry (not to mention healthcare), it’s certainly well worth taking the time to examine the issues of ethics and privacy as they relate to deployment of these new tools. David Lott, a payments risk expert in the Retail…
PYMNTS.COM takes a look at the implementation of Artificial Intelligence solutions in Financial Institution fraud departments — or, rather, the stunning lack thereof: AI systems are unique, can process large volumes of data in real time and can “learn” to quickly identify suspicious financial activity. Yet, few FIs leverage this technology in their anti-fraud efforts…
Last week’s OrboGraph Conference theme in Charlotte, NC was 2019: The Year of AI and Modernization, and the attendees were treated to a variety of presentations by and interactions with experts on various aspects of Artificial Intelligence (AI) and Machine Learning (ML) – – the Deep Learning topics that are of vital importance to any…
HealthcareDive takes a look at changes and trends it anticipates in the coming year, mainly due to political ripples from Washington (for instance, a judge’s declaration that the Affordable Care Act is no longer constitutional) and emerging consumer preferences. Their snapshot of a few big trends for the payer and provider crowds to watch for…