Trending AI in Banking Context
Much of the discussion surrounding AI in banking is focused on retail banks, with applications such as chatbots and payment fraud detection. But there exist AI capabilities that stand to benefit investment banking clients specifically as wealth management departments begin to adopt them.
Financial institutions have challenges around data accessibility. They want to leverage their large amounts of data so their employees, such as customer service agents, can find the information they need quickly.
It can be difficult for financial institutions to keep up with the rapid changes in the digital marketing and advertising landscape. There are numerous factors which are susceptible to change, and they all have an effect on how useful certain marketing strategies are. As the internet and advertising evolve, some companies may find it important to consider an automated solution to driving efficiency in marketing.
There are numerous AI vendors servicing the banking industry, but many of them lack the kind of funding that these five vendors have raised. In this article, we run through the top 5 AI vendors in banking by funding according to information on Owler. We provide an overview of their products and the AI tech that makes them possible.
Several high-profile banks are leveraging anomaly detection solutions for fraud and anti-money laundering. While some banks and AI firms provide information on how their solution works or how their chosen solution worked for them, it can be hard to determine which ones are successful today.