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It’s time to go paperless: are bank branches ready?

CIO

When the chief banking officer of a $10.3B community bank visited a competing super-regional branch in her suburban New Jersey neighborhood, she noticed something troubling. Set amid an open floor plan, the stacks of files left sensitive customer information—business and personal, loans and deposits—available for all to see 1.

Banking 515
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How Do Banks and Other Financial Institutions Benefit from AI

Smart Data Collective

AI is revolutionizing the banking and financial sector. Read this article to get to know why banks need to introduce AI-based solutions in their workflows—the faster the better. Banking is one of those industries that can earn or save billions of dollars thanks to AI. Compliance and Fraud Detection. Investment Valuation.

Banking 275
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CIOs weigh where to place AI bets — and how to de-risk them

CIO

Given existing relationships with Webster Bank, that includes AWS and Microsoft. To find promising use cases, Webster Bank canvassed several dozen proposals and decided to start with three that could deliver tangible benefits. The CIO has strategies in place to address all three. It’s a significant danger with significant costs.

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AI adoption accelerates as enterprise PoCs show productivity gains

CIO

To be successful, an AI proof of concept (PoC) project also needs to make good business sense, says CIO Vikram Nafde, CIO at Connecticut-based Webster Bank. Early positive results At Eaton, a few PoCs are already generating results and they’ve used AI to consolidate information between more than 70 ERP systems globally.

Banking 808
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How TCS is helping to fight financial crime with AI and Microsoft Cloud

CIO

As consumers embrace ecommerce, digital banking, and online payment applications, the risk of fraud and other financial crimes has increased dramatically. And for every dollar lost to fraud, banks spend over $4 on recovery fees, legal fees, and other expenses. The stakes for financial organizations are growing as well. In 2021, U.S.

Alliance 575
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The Omnichannel Shopping Experience: How to Address Customer Preferences

CIO

People rely on their smartphones, social platforms, and digital channels for information, entertainment, and online purchases. A critical step in creating a smooth journey is offering digital profiles that can be accessed by customers across multiple synchronous shopping channels. Nearly two-thirds (65%) of U.S.

Profiling 581
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3 ways to deter phishing attacks in 2023

CIO

Spear phishing: Attackers send emails to specific targets who they know have the information they need – such as everyone in the sales or IT department. Whaling: Emails sent to senior executives such as CEOs or CFOs as part of a high-profile targeting scam. Cyberattacks, Data and Information Security, Phishing

Banking 873