Blogs

With no certainty whether we are completely over COVID-19 or whether this or another virus will hit hard again, bank executives must plan for a ‘new normal’. A new normal without the reliance on teams of employees to perform many of the day-to-day activities and without the need for the required staff to always be stationed in the bank’s premises

As interest in working for a reputed FinTech gets intense, job applications are piling up. For FinTechs like Pelican AI, being in domains like OpenBanking Compliance and Payments, it is all the more difficult as it sees some of the smartest and brightest minds strive for the openings available. Our dynamic Global Head of HR, Rimpee Kukreja shares some insights for aspirants on the hiring process and the kind of talent she is looking for. She discusses the process and strategies to land an offer for many of the most sought-after positions in the industry

Embracing technologies such as Artificial Intelligence (AI) can deliver rapid and measurable efficiency and capability gains across the entire financial crime compliance spectrum. AI solutions should be able to work with existing core AML/CTF and KYC screening tools, enabling current platforms to be adapted to meet the needs of today’s challenging and real-time screening requirements.

Today’s rapidly evolving corporate payments landscape presents many challenges and significant opportunities for the corporate treasury. By embracing AI-powered solutions, businesses can not only meet these challenges, but also significantly improve processing efficiency and compliance along the payments chain.

By reducing manual intervention and increasing STP, banks can be freed to provide their clients with the services they truly need, and offer value added services on top of these basics.

AI technology of Machine Learning and Natural Language Processing offers intelligent, automated financial transaction management and financial crime compliance solutions – reducing costs, increasing revenue and improving efficiency.

AI using Natural Language Processing (NLP) and Machine Learning (ML) can significantly help improve payment processing by automatically performing payment auto repair, enrichment and intelligent routing – just as an experienced human payment operator would.

ISO20022 migration will undeniably be a resource-heavy exercise, so the adoption of the right technologies in the right areas will be a primary success factor – with AI technologies being the essential part of any organisations successful migration tool-kit!

Parth Desai, Founder and CEO and AI guru discusses the results of the recent Finextra survey on the appetite and adoption of AI in Financial Services and asks, "What are the odds of AI based solutions becoming the imperative—not a nice to have?"

While there are potentially endless opportunities for the technology in financial services, there is currently a gap in understanding how Artificial Intelligence (AI) works.