Displaying episodes 1 - 30 of 204 in total

The rise of synthetic fraud in BNPL

Socure’s Mike Cook explains why BNPLs are prime targets for cyberattacks Synthetic identities are increasingly used to attack buy now, pay later (BNPL) offerings, says Mike Cook, vice president of fraud solutions commercialization at identity verification firm Socure. “Synthetic identities take a different bunch of different forms, but basically, they're just identities that don't really exist,” Cook tells Bank Automation News in this episode of “The Buzz” podcast. “Fraudsters will always attack a new vertical.”

Listen: Tech determines customer emotions, intentions by tone of voice

Customer service systems often automate call recording and processing analysis, but you can tell a lot by detecting just the tone of a conversation.

Best practices for banks using intelligent document processing

EdgeVerve leader explains how FIs can automate know-your-customer processes Use cases for intelligent document processing (IDP) include automating the know your customer (KYC) process. The KYC process previously was performed by humans, which led to plenty of effort and errors, says Sateesh Seetharamiah, director at artificial intelligence and automation company EdgeVerve. Using IDP, one “very large U.S. financial bank” is now able to process 20 million documents through automation, he tells Bank Automation News, without naming the bank.

Green Dot sees opportunity in gig economy, SMB

How cloud-based core, microservices further the bank’s BaaS strategy Two trends emerging as opportunities for banking-as-a-service (BaaS) are the growth of the gig economy and small businesses, and Green Dot, the fintech and holding company that powers services for Uber, Walmart, Amazon Flex and Intuit, is getting in on the action. Green Dot is currently focusing on those BaaS opportunities, Amit Parikh, executive vice president of BaaS at Green Dot, tells Bank Automation News in this episode of “The Buzz” podcast.

Why commercial banks struggle to digitize account opening

Daylight Automation co-founder explains the challenges Commercial banks are focusing on a human-centric approach to relationships that may be holding them back when it comes to digitizing such basic functions as account opening. This more human approach is a challenge, Art Harrison, co-founder and chief growth officer for workflow automation vendor Daylight Automation, tells Bank Automation News in this episode of “The Buzz” podcast.

Core providers, not banks, should be ‘ready’ for FedNow

The years of anticipation surrounding the development and adoption of Federal Reserve instant payment service FedNow is a case of much ado about nothing at the bank level.

Microsoft to expand cloud-based financial services offering

Head of financial services talks security and how banks are leveraging the cloud Microsoft plans to expand its Cloud for Financial Services offering beyond the U.S. and Canada to Australia, France, Germany, Ireland, Italy, Mexico, the Netherlands, New Zealand and Switzerland. Beyond geography, the expansion also includes updated language and functionality, Bill Borden, corporate vice president of worldwide financial services at Microsoft, says in today’s episode of “The Buzz” podcast. The cloud-based offering launched in November 2021. “We'll have plans to continue to extend our presence in many more markets and languages in the coming months,” Borden tells Bank Automation News. “We're going to extend the Microsoft Cloud financial services capabilities in terms of reach and function, as well as geo locations.”

Banks should forget crypto payments, identify use cases

As crypto continues to gain traction with banks and financial institutions, experts are cautioning against moving away from its traditional use cases.

Akoya’s head of solutions speaks on ‘de-risking’ open finance

Before inking deals with the nation’s biggest banks and financial institutions, fintech Akoya was focused on secure open finance.

Upstart SVP Jeff Keltner discusses the pitfalls of digitalization-first approach

Where banks go wrong and how automation can help lenders When a doctor’s office switched to virtual office visits during the COVID-19 pandemic, nurses were given iPads and sent into private rooms to connect with patients over Zoom, then waited for the doctor to make his rounds to each iPad. While this example of an effort at digitization appears quaint, it exemplifies the perils of digitizing manual processes, says Jeff Keltner, senior vice president of business development at automation lending company Upstart. In this episode of “The Buzz” podcast, he says the example is exactly how many banks approach their digitalization.

What quantum computing may mean for the finance industry

Some banks are testing technology’s applications. Quantum computing has implications for high-value challenges in finance, according to an industry expert. Quantum computing can be used to measure credit decay, increase training speed for machine learning algorithms, including accelerating Monte Carlo calculations, and to optimize portfolios, explains Sam Mugel, who holds a Ph.D. in quantum computing, in this episode of Bank Automation News’ podcast, the Buzz.

Listen: How automation is boosting PenFed’s annual origination assets to $15B

PenFed owes its multibillion-dollar growth in total and origination assets to a sweeping automation overhaul.

BetaBank will leverage AI to level playing field for SMB lending

A startup digital bank is working with Google and Deloitte to automate its lending for small and midsize businesses (SMBs) and use artificial intelligence (AI) to eliminate bias.

How voice data can reduce fraud and ease customer friction

14% say they’d rather be stuck in traffic than reset a password Sixty-three percent of respondents to a recent survey think resetting their password is a huge inconvenience and 14% would rather be stuck in rush-hour traffic than reset their password. And ironically, at one institution, fraudsters were able to pass knowledge-based question barriers 92% of the time, while actual customers correctly answered the questions only about 48% of the time, according to a survey by voice-based security, identity and intelligence platform provider Pindrop. These password challenges create a problem for the organizations that use them while not solving for fraud, contends Amit Gupta, vice president of product management, research and engineering at Pindrop, in this episode of “The Buzz” podcast.

Banks facing ‘inevitable’ journey toward the cloud

The level of security and service that cloud infrastructures provide makes it an inevitable technology for banks and financial institutions. Questions around operational control and security capacity dominated the cloud conversation prior to the pandemic, but the ensuing upheaval caused many banks to reexamine their processes, Narendra Mistry, chief product officer, international digital banking at core provider Finastra, tells Bank Automation News in today’s episode of “The Buzz.”

Automation, fraud farms aid cybercriminals

Skyrocketing scams and card-not-present (CNP) fraud losses can be blamed on bad actors leveraging automation, experts say.

Potential pitfalls of cloud migration, and how to overcome them

Banks undoubtedly face challenges when transitioning to the cloud, including monolithic applications, a lack of resources, and legacy processes and workflows. Many also lack a clearly defined strategy shaped by business objectives, says Chinmoy Banerjee, corporate vice president and global head of banking at consulting firm Hexaware Technologies, on this episode of “The Buzz” podcast. That can lead to problems like “cloud sprawl,” which happens when banks do not have a clear understanding of the scope of the cloud environment, as well as overspending in the cloud, he adds.

Aite Novarica analyst says payment interoperability threatened by legacy technology

Tech and regulatory hurdles stand in the way of a fully interoperable payments environment in the U.S. Consumers increasingly expect an interoperable — seamless and friction-free — payments ecosystem, with several banks and fintechs leading the charge through embedded data sharing and real-time payments (RTP). However, the growth in payments digitization has left many financial institutions and their customers struggling to keep up, Ginger Schmeltzer, strategic advisor at research firm Aite-Novarica, tells Bank Automation News in today’s episode of “The Buzz” podcast.

Temenos on helping banks overcome AI complexities

Why banks need a ‘clear strategy’ for artificial intelligence Sixty-two percent of banks say the complexity and risks associated with handling personal data for artificial intelligence (AI) often outweigh the benefits to customer experience. That’s according to The Economist Intelligence Unit survey sponsored by core provider Temenos. While data can be a challenge, there are three steps organizations can take to better manage that data, Sue Laws, executive vice president of Business Solutions for the Americas at Temenos, tells Bank Automation News in this episode of “The Buzz.”

Understanding the potential of computer vision

Tackle AI CTO explains how financial services can leverage this evolving AI technology

TD Bank sets sights on end-to-end accounts payable automation

TD Bank’s U.S. strategy for commercial payments leans on back-office process automation. While the $450 billion U.S. arm of the Toronto-based bank has been digitizing its payments capabilities for several years, the pandemic accelerated the process for TD customers who may have been reticent to invest in automation.

Banks must shift tech talent strategy from retention to efficiency

Banks must shift their talent strategy from retention to productivity as the financial services industry struggles to keep up with demand for technology-focused employees.

Weekly Wrap looks at automation journeys in commercial lending

In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team discusses the recent Bank Automation Summit 2022 with recorded conversations from the panel “Modernizing Commercial Lending Through Automation.”

Banking leaders reveal how to garner innovative ideas

A look at the role technology can play in ideation To poorly automate a process, use technology as the starting point rather than the ideation process, Pepe Porrata, chief operating officer at $731.7 million bank Varo Bank, tells Bank Automation News in this episode of "The Buzz.”

30% of community banks adding crypto services in next 18 months

A growing number of community banks are considering adding cryptocurrency services, and it could give them an edge in the battle for digital customers.

University Credit Union saved $2M in 1 year with AI-powered bot

CEO offers advice for virtual assistant startup University Credit Union saved nearly $2 million in expenses and revenue gains in the first 12 months after launching its artificial intelligence (AI)-powered virtual assistant Royce in August 2020. The savings easily amounted to more than the cost of the technology and allocations made to support the bot, says David Tuyo, president and CEO of the $1.1 billion Los Angeles-based credit union, in this episode of “The Buzz” podcast. Tuyo now encourages other banks and credit unions to embrace AI-powered bots.

Weekly Wrap explores how blockchain can automate in financial services

CHARLOTTE, N.C. — In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team pivots to an excerpt from the Bank Automation Summit 2022 held in Charlotte, N.C., March 1-2. Learn how blockchain is being deployed at TIAA and other banks to both automate and solve unique business problems. This episode features Russell Schwartz, senior director of payments product management at TIAA, and Ananth Subramanya, senior vice president of digital business at HCL Technologies, each of whom shares his perspectives on how blockchain can innovate in the financial services sector.

Community banks set to continue fintech investment

While big banks mobilize billions in tech development, community banks are continuing their own technology journeys through fintech investment.

Corporate decision makers want real-time payments, says Citizens Commercial

What banks can do to help businesses manage the growing payment options

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