All posts by FICO

Analytics & Optimization Banking AI: 9 in 10 APAC Banks Feel They Lag US & Europe

Banking AI
Jan282019

Banking AI – APAC Survey We recently surveyed 33 chief risk officers from across Asia Pacific at our CRO Forum regarding the operationalizing of banking AI. We found that 91 percent of banks in Asia Pacific (APAC) felt they lagged behind banks in the US and Europe when it came to implementation of AI in their operations. The remaining 9 percent indicated that they were at least on par with US and Europe counterparts, while not a single respondent felt they were ahead. When asked about the biggest challenge in adopting AI and machine learning into existing bank operations, 42 percent indicated that it was the lack of available talent. The use of legacy systems (28 percent) came in second, followed by cost (16 percent). Banking AI – Operationalizing AI “The shortage of talent continues to be an issue worldwide as the use of AI continues to grow quickly,” said... [Read More]

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Fraud & Security Banking Fraud – What’s Happening In Asia Pacific?

Banking Fraud
Jan232019

FICO recently hosted 60 banking fraud professionals from 33 organizations and 8 countries at its Asia Pacific Fraud Forum.  Attendees were keenly interested in how artificial intelligence and machine learning continues to be a key technology in the fight against fraud and financial crime. There was also a lot of discussion about the growing convergence between fraud and compliance departments and how business and operational models must adapt. Lastly, there were common challenges around the growing complexity of data sets and the need to deal with them at speed and with greater accuracy. Three of FICO’s fraud leads explain some of the key themes and discussion points raised at our Asia Pacific event. Banking Fraud – Financial Crime Convergence! Adam Davies: During the event, there were many conversations and discussions around the convergence between fraud and financial crime. It was interesting to see that many of the attendees had responsibilities... [Read More]

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