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The Future of Blockchain in Banking and Financial Services and FinTechs | Blog

Everest Group

Blockchain technology promises to transform banking, financial services, and FinTechs by enhancing the digital customer experience while lowering costs and reducing data risks in a secure environment. In recent years, blockchain adoption has increased in banking and financial services and the emerging FinTech industry.

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AI Regulations for Financial Services: OCC

Perficient Digital Transformation

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.

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Competition, Consolidation, And Co-opetition In Banking

Zinnov

During the 2008 financial crash, the global economy lost close to USD 1 Tn from debt. While the world tried to recover from the slowdown, a new predicament posed as a challenge to the Banking industry – new-age Fintech firms. But with a few strategic initiatives and consolidation of their offerings, banking can take a new turn.

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Lessons Learned From the Fourth United States Bank Failure of 2023

Perficient Digital Transformation

Background On Friday, July 28, Heartland Tri-State Bank of Elkhart became the fourth U.S. bank to fail this year. A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. He was promoted to President and CEO in 2008.

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OCC Comptroller Offers Regulatory Guidance Toward AI

Perficient Digital Transformation

Hsu discussed the systemic risk implications of AI in banking and finance using a “tool or weapon” approach. For banks interested in adopting AI, establishing clear and effective gates between each phase can help ensure that innovations are beneficial rather than harmful.

Banking 52
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How Artificial Intelligence is Being Used in Finance

3Pillar Global

How AI is Used in Finance & Banking. But we also know that the criteria banks use to make credit decisions aren’t always straightforward or fair. The ability to make quick, smart credit decisions is a major asset to banking institutions, lenders, and credit card companies because it reduces the risk of financial loss.

Finance 52
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Why the UK is Dominating Europe’s Fintech Market

Globalization Partners

challenger banks) and B2B (e.g. open banking) products finding room to grow. Many are now well-known brands, like OakNorth Bank, Revolut, Starling Bank, Checkout.com, and Monzo. The origin of the industry’s current iteration, as clarified by Gore, is the global financial crisis of 2008.