AI and the Future of Banking
(Sprache: Englisch)
An industry-specific guide to the applications of Advanced Analytics and AI to the banking industry
Artificial Intelligence (AI) technologies help organisations to get smarter and more effective over time - ultimately responding to, learning from...
Artificial Intelligence (AI) technologies help organisations to get smarter and more effective over time - ultimately responding to, learning from...
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Klappentext zu „AI and the Future of Banking “
An industry-specific guide to the applications of Advanced Analytics and AI to the banking industryArtificial Intelligence (AI) technologies help organisations to get smarter and more effective over time - ultimately responding to, learning from and interacting with human voices. It is predicted that by 2025, half of all businesses will be using these intelligent, self-learning systems. Across its entire breadth and depth, the banking industry is at the forefront of investigating Advanced Analytics and AI technology for use in a broad range of applications, such as customer analytics and providing wealth advice for clients. AI and the Future of Banking provides new and established banking industry professionals with the essential information on the implications of data and analytics on their roles, responsibilities and personal career development.
Unlike existing books on the subject which tend to be overly technical and complex, this accessible, reader-friendly guide is designed to be easily understood by any banking professional with limited or no IT background. Chapters focus on practical guidance on the use of analytics to improve operational effectiveness, customer retention and finance and risk management. Theory and published case studies are clearly explained, whilst considerations such as operating costs, regulation and market saturation are discussed in real-world context. Written by a recognised expert in AI and Advanced Analytics, this book:
* Explores the numerous applications for Advanced Analytics and AI in various areas of banking and finance
* Offers advice on the most effective ways to integrate AI into existing bank ecosystems
* Suggests alternative and complementary visions for the future of banking, addressing issues like branch transformation, new models of universal banking and 'debranding'
* Explains the concept of 'Open Banking,' which securely shares information without needing to reveal passwords
* Addresses the
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development of leadership relative to AI adoption in the banking industry
AI and the Future of Banking is an informative and up-to-date resource for bank executives and managers, new entrants to the banking industry, financial technology and financial services practitioners and students in postgraduate finance and banking courses.
AI and the Future of Banking is an informative and up-to-date resource for bank executives and managers, new entrants to the banking industry, financial technology and financial services practitioners and students in postgraduate finance and banking courses.
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Inhaltsverzeichnis zu „AI and the Future of Banking “
Acknowledgements xvAbout the Author xvi
Introduction xvii
Chapter 1 Prologue: Why Banking? 1
Summary 1
Introduction 2
What is Banking? 4
What Do We Mean by 'Money' Today? 7
A Cashless Society Increasingly Emerges 8
Key Banking Functions 10
Future Jobs in Banking 14
Conclusion 17
References 18
Chapter 2 Imperatives in Banking 21
Summary 21
Introduction 21
Strategy and Imperatives 23
Strategy 23
Business Imperatives 24
Current Imperatives in Banking 24
Comparable Imperatives in the Retail Industry 26
Comparable Imperatives in the Telecom Industry 27
Comparable Imperatives in the Healthcare Industry 29
Future Imperatives in Banking 30
Greater Customer Centricity 30
Becoming Truly Digital 31
Completely Accepting Technological Change 33
Reimagining Banking 33
Reinventing Risk Management 35
Conclusion 36
References 37
Chapter 3 Data and Analytics Primer 39
Summary 39
Introduction 39
Data Management and Analytics 42
Data Management 42
The Hierarchy of Analytics 43
'Next-Generation' Cognitive Analytics 45
Extracting Value from Data 46
The Importance of Location Analytics 50
Conclusion 51
References 52
Chapter 4 Key Elements of Banking Analytics 55
Summary 55
Introduction 56
Office of Finance Management 56
Performance Management and Integrated Decision Making 58
The Key Elements of Banking Performance Management 59
Customer Analytics 61
Customer Insight 61
Credit Ratings 65
Branch-Specific Campaigns 66
Impact of Social Media Campaigns 67
Relationship Pricing 69
Client Servicing 71
Risk
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Management 73
Risk Scenario Analytics 74
Fraud Detection 75
Regulatory Compliance 76
Risk Management and AI 76
Operational Efficiency 77
IT Cost Transparency 78
Branch Performance Management 78
Contact Centre Service 80
Payments Monitoring 82
Mortgage Tracking 83
Sales, Compensation and Commission Management 83
Financial Markets Risk and Trade Monitoring 84
Analytics in Portfolio Management 85
Derivative Markets 86
Conclusion 87
References 89
Chapter 5 Machine Learning, AI and 'Apps' 93
Summary 93
Introduction 93
Theory and Practice of Machine Learning 95
Apps and Their Usage 96
Data Visualisation 101
Voice Recognition and Voice Assistants 102
Visual and Facial Recognition 104
Thumbprint Recognition 106
Palm Vein Recognition 107
Wealth Management Systems and Apps 107
The Biometric Moral Argument 109
Conclusion 111
References 112
Chapter 6 AI and the Importance of Brand in Banking 115
Summary 115
Introduction 116
Brand Value and Equity in Banking 117
Millennial and Gen Y Brand Expectations from Bank Brands 119
Branding Expectations of Generation Z 120
Branding Expectations of Generation X 121
Branding and Customer Experience Interlocked 123
Branding and Human-Centred Design 124
To Brand or to Debrand? 125
Banks Will Use AI to Beco
Risk Scenario Analytics 74
Fraud Detection 75
Regulatory Compliance 76
Risk Management and AI 76
Operational Efficiency 77
IT Cost Transparency 78
Branch Performance Management 78
Contact Centre Service 80
Payments Monitoring 82
Mortgage Tracking 83
Sales, Compensation and Commission Management 83
Financial Markets Risk and Trade Monitoring 84
Analytics in Portfolio Management 85
Derivative Markets 86
Conclusion 87
References 89
Chapter 5 Machine Learning, AI and 'Apps' 93
Summary 93
Introduction 93
Theory and Practice of Machine Learning 95
Apps and Their Usage 96
Data Visualisation 101
Voice Recognition and Voice Assistants 102
Visual and Facial Recognition 104
Thumbprint Recognition 106
Palm Vein Recognition 107
Wealth Management Systems and Apps 107
The Biometric Moral Argument 109
Conclusion 111
References 112
Chapter 6 AI and the Importance of Brand in Banking 115
Summary 115
Introduction 116
Brand Value and Equity in Banking 117
Millennial and Gen Y Brand Expectations from Bank Brands 119
Branding Expectations of Generation Z 120
Branding Expectations of Generation X 121
Branding and Customer Experience Interlocked 123
Branding and Human-Centred Design 124
To Brand or to Debrand? 125
Banks Will Use AI to Beco
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Autoren-Porträt von Tony Boobier
TONY BOOBIER is a former IBM worldwide executive focusing on financial services. He has over 30 years of experience and is a frequent writer and international public speaker. Tony possesses a deep understanding of how to apply business intelligence and analytics to enhance the management and delivery of products and services in numerous industries. A recognised expert in customer analytics, risk and operational effectiveness, he is a strong advocate for enterprise-wide analytics to improve service and reduce cost. He holds professional qualifications in engineering, marketing, supply chain management and insurance.
Bibliographische Angaben
- Autor: Tony Boobier
- 2020, 1. Auflage, 304 Seiten, Maße: 17 x 24,4 cm, Gebunden, Englisch
- Verlag: Wiley & Sons
- ISBN-10: 1119596122
- ISBN-13: 9781119596127
- Erscheinungsdatum: 30.04.2020
Sprache:
Englisch
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