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What are lenders prioritising when it comes to Gen AI? 📊 A recent study by Forrester Consulting, conducted on behalf of Experian, surveyed 660 and interviewed 60 decision-makers for technology purchases in financial services. The study included businesses across North America, UK and Ireland, and Brazil. Our research shows widespread recognition that Gen AI could deliver a range of benefits across business functions. 👉 We identified five areas of focus for lenders based on our research. 📲 Personalised customer experience 📊 Enhanced models with new data sources 💼 Operational efficiencies 🔒 Fraud detection and prevention 💬 Customer service Read more on how lenders can leverage Gen AI: https://bit.ly/3MRoWIn #GenAI #financialservices #decisioning #fraudprevention #customerexperience

AI is revolutionizing the financial industry by using sophisticated algorithms to improve decision-making and automating processes to streamline workflows. Automation is releasing human resources for more strategic responsibilities by taking over tasks like data entry, risk assessment, and fraud detection. Furthermore, financial institutions may swiftly and effectively make well-informed decisions thanks to the insights that AI-driven analytics provide into consumer behavior and market trends. This raises market competitiveness overall, lowers expenses, and increases efficiency.

🚀 AI is proving to be a game-changer across various operational areas in small businesses. It’s not just about automation - it's about smart solutions for demand forecasting, supplier risk assessment, predictive maintenance, route optimization, and even fraud detection! But remember, to unlock AI's full potential, you need to integrate your systems and make your data accessible. The future of small business success is AI-driven - are you ready? #AIinBusiness #DigitalTransformation #BusinessGrowth https://zurl.co/RTP0

AI Revolutionizes Account Management: Smarter, Stronger Client Relationships The world of account management is undergoing an AI makeover! This blog explores how AI is transforming the way we connect with clients: Automated Onboarding Processes: Streamline account setup with AI-powered tools, freeing up valuable time. Personalized Financial Insights: AI analyzes data to generate personalized financial insights, empowering smarter decision-making. Enhanced Fraud Detection & Prevention: AI algorithms identify suspicious activity in real-time, safeguarding your clients' accounts. 24/7 Customer Support with Chatbots: AI-powered chatbots provide instant assistance, anytime, anywhere. Proactive Support & Deeper Relationships: AI helps anticipate client needs and personalize interactions, building stronger connections. Ready to take your account management to the next level? Know More At : https://lnkd.in/gSEKA8Tu #artificialintelligence #accountmanagement #customerrelationships #innovation #security #AIinBanking #AccountManagement #DigitalTransformation #BankingSector #ArtificialIntelligence #Innovation #Fintech #CustomerExperience #DataAnalytics #Efficiency

Artificial Intelligence - and its potential to help financial services firms - has been a point of discussion in many recent FCA communications, pointing to its ability to revolutionise the way businesses monitor and evidence Consumer Duty outcomes. However, understanding what safe and viable options are available for firms can seem a daunting prospect - but fear not, we’ve got you covered. We’ve collated our recent five-part mini series with Recordsure’s Chief Product and Commercial Officer, Garry Evans, and Senior Product Manager, Olivia Fahy, which how AI can help firms futureproof for Consumer Duty success Watch as they discuss how AI can help firms futureproof for Consumer Duty success >> https://bit.ly/471FeGJ #consumerduty #AI #RegTech #ComplyTech #FinTech #compliance #governance #monitoring #evidencing #regulatorychange #vulnerability

The underlying virtuous cycle for all digital businesses that are truly customer-centric ... High-quality data (which is treated as a valued asset) <> Pervasive automation (which uses signals and learns from those) <> Effortless experiences (that understand context, actions, rewards and solves problems - known and unknown). It is interesting to see this cycle coming to life through the experiences delivered via https://sierra.ai/, and focusing on conversational context to spin it repeatedly for customers. One to watch... #conversationalai #customerexperience #customercentricity Bret Taylor Clay Bavor

Corcentric survey reveals that 49% of companies don't automate their financial processes. Automating data capture can lead to faster, more informed decisions and automated alerts can help detect fraudulent activities. However, it's crucial for companies to align their technology objectives with end-users needs to avoid ineffective tools and unnecessary expenses. #AI #Automation #Finance #Innovation #Efficiency