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Selecting the Right Technology: Generative AI vs. Traditional AI for Banking

June 29, 2023

Accenture recently released a report entitled A New Era of Generative AI for Everyone, which explains why generative AI is the ultimate “co-pilot” for human capabilities — and how it will “transform work and reinvent business.” ChatGPT has become a household name — and it’s only been known to the mainstream for six months. The Accenture…

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AI & Machine Learning: Driving Automation & Resiliency for Banks & Customers

May 11, 2023

We’ve spent quite a bit of time on the emergence of artificial intelligence (AI) and machine learning (ML) as vital technologies for the banking space — and for good reason. In today’s competitive environment, every possible tool must be leveraged. Steve Morgan, Banking Industry Market Lead at Pegasystems, contributed an informative commentary to Finextra regarding the…

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Forrester Research: 77% of Banks Execs Will Invest in Emerging Technologies in 2023

May 4, 2023

Forrester reports that, according to their Future Fit Survey, 2022, a whopping 77% of bank business and technology professionals are looking to increase their spending on emerging technologies over the next twelve months. Emerging technologies could mean the difference between gaining, retaining, or losing competitive differentiation. Yet failure remains commonplace. Only a quarter of business and…

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Apple Upping Its Banking Game with New Savings Account Offering

April 20, 2023

Apple is well known for staying one step ahead of technology trends. Since the launch of its iTunes® Music Store in April of 2003, we’ve seen the tech giant continue to penetrate the payments arena. Apple made its biggest contribution to tech when it launched the first iPhone in January of 2007. While it was…

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Checks Play Major Role in Next-Gen Core Banking Platforms

March 30, 2023

As reported at Mobil App Daily, competition in the banking industry is fierce and at a consistently high level — a good situation for consumers, and an ongoing challenge for the banks themselves. They want to dramatically improve the experience their consumers receive from their optimized digital banking services by utilizing the next-generation banking platform.…

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Business Payments: Leveraging AI for Speed and Security

March 23, 2023

PYMNTS talked to Manish Jaiswal, chief product and technology officer at Corcentric, about the ways AI technology can and will improve business payments by making them faster and — most importantly — safer. Source: PYMNTS.com “Real-time payments processing is becoming a reality in B2B,” Mr. Jaiswal noted. Still, there are challenges to address. Most companies, no matter the…

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Artificial Intelligence in Banking: Possible Impact of OpenAI’s ChatGPT

March 9, 2023

If you haven’t heard of it already, OpenAI’s ChatGPT is an artificial intelligence-powered text tool capable of providing cogent answers in seconds to just about any question you throw its way. It is viewed with a mixture of awe and apprehension. Despite the unease, ChatGPT is acquiring new users faster than any of the most popular consumer…

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19% of Healthcare Insurance Claim Payouts Made by Check

February 24, 2023

In the digital era, we tend to think payments are all traveling via this or that payments app. However, the latest PYMNTS/Ingo Money collaboration, “Insurance Disbursements Brief 2022,” noted the surprising prevalence of paper checks used for healthcare claim payments or disbursements. As reported at PYMNTS.com: This is particularly key because healthcare disbursements represent the…

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Collaborating with Core Processing Providers & Fintech Critical for Banking Digital Transformation

February 9, 2023

Banks and credit unions recognize that they need to modernize Key to modernization is collaboration Product and data silos, outdated infrastructure, and a risk-averse culture are obstacles The Financial Brand cites a recent report from the Federal Reserve that delineates three types of digital banking experience partnerships being sought by banks and credit unions seeking to…

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Paper Checks: Why Individuals Still Use Them

February 2, 2023

Digital payments are all the rage — convenient, quick, and accepted almost everywhere. However, Yahoo!Life reports that in GOBankingRates’ Best Banks 2023 survey of 1,000 Americans, they uncovered some counterintuitive results: 22% of respondents said they still write checks at least once a month. And surprisingly, of these respondents, the largest percentage belonged to those…

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