The role of Artificial Intelligence within the banking sector

8.45 am to 12.30 pm CT,
25 February 2022

Front- and middle- office AI applications furnish the

biggest expense savings opportunity for the banking industry.

Banks are harnessing Artificial Intelligence on the front-end to

smooth client identification and authentication

AI-driven chatbots and voice assistants

facilitate client relationships, personalizing their customer lifecycle journey

AI-driven personalization and analytics can take proactive steps to

prevent customer churn, by analyzing big data on client behaviour

AI is a weapon in preventing payments fraud and

streamlines anti-money laundering (AML) and KYC checks

In the back office,

AI-driven technologies will also facilitate underwriting

AI is revolutionizing the banking and financial services domain

Banks can minimize expenses and increase revenue by embracing AI

AI can assist by minimizing errors in compliance reporting, which is prone to human error

AI-driven analysis can isolate suspect transactions

AI can prove to be a revelation in Investment Valuation procedures

AI has automated due diligence, facilitating institutions to maintain precise documentation regarding client information.

AI-driven insights can aid greatly in decision-making

AI can improve staff productivity and efficiency – bringing down costs

Amazing Partners & Sponsors

Agenda

25 February 2022 (8.45 am to 12.30 pm CT)
08:45 am
Aganda 1

Introduction of Speakers

-by Nitin Naveen, Vice president-Innovation Strategy, AICorespot

 

09:00 am
Aganda 4

Digital Role in FinTech

–By Sivakumar Muthusamy, Sr. Director, InfoVision
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Digital Evolution, Challenges, Technology Play, Future of FinTech

 

09:20 am
Aganda 2

NeoBanking

-By Himanshu Sharma, Chief Information Officer, Fair Fintech, Inc
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Neobanks are challenging the traditional banking model through a low-cost structure, feature-rich products, and easy accessibility. Their Innovation engine focuses on three key pillars – Customer experience, User convenience, and Simplified processes. AI-based solutions are playing a key role within NeoBanks. Below are the topics of the presentation. What Is a Neobank? How does a Neobank work? How AI is used in NeoBanks? Use of AI in fraud detection, KYC Verification, and customer services.

 

09:40 am
Aganda 2

ML/AI in Lending and Credit Analytics

-By James Cao, Vice President of Credit, Octane
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How ML/AL is being used in lending especially in credit analytics, what are main learnings

 

10:00 am
Aganda 6

The outlook for a smart Banking industry – driven by AI

Panel Discussion
– Chithrai S Mani, CTIO, Infovision (Moderator)
– Ben Ross, COO, Green Payments
– Haris Ikram, Head Of Product Management – Mortgage Products, Blend
– Jacob S. Kosoff, Head of the Model Risk, Regions Bank
-Aaron Gette, Advisor and Investor, Optimal Financial Systems

 

11:00 am
Aganda 4

Developing and Implementing AI/ML in Operational Functions

–By Kin Chung, VP of Credit Innovation, MPOWER Financing
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Automating traditional underwriting processes may deliver significant time and cost savings to companies that do this well. It is important to avoid many pitfalls, including data challenges, problem definitions, process design, and transition planning. This discussion covers considerations that are helpful when applying AI/ML technologies to automate underwriting operations.

 

11:20 am
Aganda 4

The use of Machine learning and ​artificial Intelligence by Financial Institutions to manage BSA and AML risks

–By Andrew Maychruk, EVP, CTO, Old Second National Bank
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For Banks and Financial Institutions to ​effectively manage the exponential growth in the volume and complexity of transactions, automation tools, models, and machine language strategies are being adopted. This is an evolutionary process requiring detailed planning, and disciplined implementation and effective ongoing oversight.

 

11:40 am
Aganda 4

Automating Compliance

–By Peter Piatetsky, Co-founder and CEO, Castellum.AI
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Challenges remain to effectiveness and efficiency in CIP/KYC/EDD workflows that can be mitigated by data + technology Goal: make CIP/KYC/EDD teams (and compliance professionals across the enterprise) more efficient and effective What are your specific tech adoption goals? Goal should not be full automation, which is not realistic and fraught with risk Starting place: how to use technology to harness the full value of third-party data

 

12:00 pm
Aganda 2

Potential & Perils of AI in Banking

-By Pranav Kansara, Sr. Director Analytics & Insights, TCS
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In the post-covid world, consumer behavior and preferences have undergone a sea change. Hence, it is imperative that the business units within the banks – retail, cards, commercial, mortgages, auto, wealth etc – are able to reimagine their business processes by making them AI-centric with human-in-loop decision making. Thus, they need to understand the potential AI & ML presents to truly transform consumer experience, while avoiding the perils of AI-centric decisions becoming opaque. For this to happen, the data scientist community responsible for creating these models need to cultivate both trust in and acceptance of their AI models for them to see the light of the day. This trust and acceptance in turn depends on confidence the LoB has on the data quality, processes to create and deploy the models, explainability of the models, security of the models and governance of the models, each of which could become single-point-of-failure for the organization if the models are implemented without giving due consideration to them.

 

12:20 pm
Aganda 1

Thank you note and conclusion of event

-by Nitin Naveen, Vice president-Innovation Strategy, AICorespot