Tag Archives: AI

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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Analytics & Optimization Embrace Your Data & Implement A Customer Centric Strategy

Dec272018

Increasingly businesses today are being forced to implement a more customer centric approach to their business strategy. This is in response to rapidly changing consumer behavior and the compelling move to digital platforms. To be able to respond and make better, faster decisions, business need a clear view of their decision-making strategies and the ability to apply risk analytics, strategy improvements, automation and advanced analytics. Often, organizations mistakenly believe that issues with data are holding them back from embracing a customer-centric approach. Yet myriad examples prove that businesses can reap the benefits through centralized decisioning and demonstrate real business impact without “fixing” the data. The driving force behind change is that consumer expectations have risen, with a strong preference for working with trusted and transparent brands. A study from Label Insight found that when a brand offers complete transparency, 94% of shoppers are likely to be loyal to that brand. Consumers also... [Read More]

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