Perficient Digital Transformation

AUGUST 3, 2023

Risk Management , Anti-Money Laundering, & Fraud Protection Financial institutions invest heavily in security and risk management, but prevention and recovery progress are delayed by manual reporting and disparate systems.

Risk Management 19

Risk Management Risk Management Service Insurance 19

Risk Guide

FEBRUARY 7, 2022

Volumes have been written on the cause of the crisis the world is in, surveys have been done and many fingers are pointing in every direction—a couple of these are pointing straight at us, the Risk Professionals. It is time to renovate risk management. The basic Risk Management process cycle is one of those.

Risk Management 52

Risk Management Risk Management Management Banking 52

inDinero

JULY 8, 2021

Any business loan or line of credit from a bank—brick-and-mortar or online—will carry more favorable terms if you have a decent business credit scor e. Lenders use your business credit score to determine how likely you are to repay your loan; the lower the score, the less attractive you are to a lender, especially banks.

Banking 56

Banking Accounting Regulations Government 56

Everest Group

OCTOBER 4, 2024

What does it mean for the banking and financial services industry? Beyond trading, agentic AI could enhance risk management by autonomously identifying potential market disruptions or regulatory changes and adjusting exposure accordingly. What are the high priority use cases for agentic AI in banking and financial services?

Banking 52

Banking Out-Tasking Service Automation 52

Perficient Digital Transformation

APRIL 11, 2023

Perficient has helped launch, review, and maintain RCSA programs at some of the largest banks in the United States. A centralized Risk Management Tool is mandatory in modern banking, and the front/middle/back offices must be able to provide a constant input of new information into the system.

Risk Management 64

Risk Management Risk Management Banking Insurance 64

IBM Services

JANUARY 16, 2024

While high interest rates and inflation concerns are carrying over into the new year, financial services trends signal to prepare for major changes in real-time by staying up-to-date on all financial services-related matters, including in banking and capital markets sectors. This is something we’re likely to see more of this year.

Service 51

Service Banking Risk Management Risk Management 51

IBM Services

SEPTEMBER 18, 2023

The payments ecosystem is at an inflection point for transformation, especially as we see the rise of disruptive digital entrants who are introducing new payment methods, such as cryptocurrency and central bank digital currencies (CDBC). This is just one of many examples that show how the payments space has evolved.

Banking 75

Banking Regulations Design Risk Management 75

31 West

SEPTEMBER 24, 2024

For instance, when a large bank was infected with ransomware that encrypted the files, the company did not lose much money or experience terrible operational loss because it restored its network from the recent backup. Thus, the retailer is able to maintain its reputation and further strengthen customers’ trust even after the event.

Retail 130

Retail Regulations Insurance E-Commerce 130

Perficient Digital Transformation

JUNE 25, 2024

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

Banking Risk Management Risk Management Regulations 52

Magellan Solutions

AUGUST 6, 2023

Fraud Detection and Risk Management Solutions AI tools designed for fraud detection can analyze datasets and detect anomalous transactions or patterns. Surprisingly, their Autopilot feature, integrating AI into various aspects of the invoicing process, becomes seamless and efficient.

Accounting 98

Accounting Finance Data Entry Out-Tasking 98

Anexa

OCTOBER 16, 2022

Managing financial risk is one of the cornerstones of successful financial organizations – these include credit risk, market risk, along with funding and liquidity risk. The analysis of how these other sectors manage critical infrastructure could be of great benefit to the finance industry.

Banking 52

Banking Finance BPO Risk Management 52

Automation Anywhere

MAY 18, 2022

have spiked , and the potential for operational risk events caused by people, failed processes, and disrupted systems has increased as a result of greater reliance on virtual working arrangements. In addition, cyber threats (ransomware attacks, phishing, etc.)

Service 90

Service External Service Provider Out-Tasking Cybersecurity 90

Perficient Digital Transformation

OCTOBER 24, 2024

The impacts of AI on consumers, banks, nonbank financial institutions, and the financial system’s stability are all concerns to be investigated and potentially addressed by regulators. Hsu discussed the systemic risk implications of AI in banking and finance using a “tool or weapon” approach.

Regulations 52

Regulations Service Banking Cybersecurity 52

Everest Group

MAY 21, 2024

Outsourcing is a growing trend in the insurance industry to transform the actuarial function by reducing costs, creating innovation, increasing efficiencies, and filling the talent demand. Explore the factors driving insurers to partner with specialized service providers and the advantages and obstacles of actuarial outsourcing.

Insurance 64

Insurance Outsourcing Flexibility Risk Management 64

Everest Group

NOVEMBER 16, 2022

Global Business Services (GBS) organizations have a big opportunity to champion Environment, Social, and Governance (ESG) in banking and financial services (BFS) institutions. Capital market firms are embracing green underwriting, while asset and wealth managers are steadily moving toward ESG investing.

Sourcing 52

Sourcing Banking Global Business Services Out-Tasking 52

Infosys Consulting

AUGUST 12, 2021

Payments (including transaction banking offerings) are at the center of everyday banking. This explosion of digital transactions has also seen a rapid decline in legacy payments in Australian banks, closing hundreds of branches and more than 2200 ATMs.

Banking 52

Banking Government Retail Insurance 52

Vilmate

APRIL 27, 2022

The sector of banking and finance is a good illustration of how businesses can adapt to contemporary concepts. So why was the banking and finance sector to be among the first to apply the benefits of AI and ML in fintech? Banking & Finance as the targeted sector for AI/ML. Asset management. increased cost-efficiency.

Banking 52

Banking Finance Risk Management Risk Management 52

Perficient Digital Transformation

JUNE 19, 2024

Even if not fully effective initially, generative AI software will gradually reduce false positives, improving the value of risk findings over time. Second , AI can automate many mundane, low-value tasks performed by risk staff, freeing them to focus on more high-value tasks. Many hands rose immediately.

Out-Tasking 52

Out-Tasking Automation Risk Management Risk Management 52

Hyland

JUNE 13, 2022

To avoid the reduced efficiency, security and accuracy that can result from trying to tackle too many use cases too quickly, it’s important to implement RPA in the right places, in the right order. Increase accuracy and efficiency. Underwriting and risk management. Bank statements and payment checks.

Robotics Process Automation 98

Robotics Process Automation Human Resources Out-Tasking Insurance 98

Risk Guide

FEBRUARY 5, 2023

It was found that the technology is being used in areas such as payments, traditional finance, banking, supply chain and logistics. With Bitcoin, transactions are not managed by banks or financial intermediaries, but instead value travels directly from one person to another.

Banking 52

Banking Finance Risk Management Risk Management 52

Everest Group

JULY 17, 2024

In personal lines, companies have begun offering green property insurance, which covers eco-friendly materials and energy-efficient upgrades following a loss, as well as discounts for hybrid or electric vehicle owners to encourage sustainable transportation choices. Watch the webinar, What’s Next in Financial Services?

Insurance 69

Insurance Risk Management Risk Management Regulations 69

Perficient Digital Transformation

OCTOBER 30, 2024

The impacts of AI on consumers, banks, nonbank financial institutions, and the financial system’s stability are all concerns to be investigated and potentially addressed by regulators. In April 2021 a Statement and separate Request for Information on Model Risk Management was issued by FinCEN and the FDIC, Federal Reserve, NCUA, and OCC.

Regulations 52

Regulations Service Banking Advisory 52

Capgemini

NOVEMBER 30, 2022

It helps from the bottom-line perspective in terms of bringing greater efficiencies,” according to Ashvin Parmar, Vice President, Insights & Data Practice Leader at Capgemini. The banks and insurers don’t have a choice but to start to collaborate,” Parmar says. “So, But more importantly, it lays the foundation for innovation.

Service 52

Service Finance Risk Management Risk Management 52

SIG Speaks

MAY 23, 2023

SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Dallin Ingalls shares the inherent value that is associated with a strong third-party risk management framework. Third-party risk management creates "Vault-like" security for a company when it engages with a third party.

Risk Management 40

Risk Management Risk Management Banking Management 40

Infosys Consulting

OCTOBER 18, 2023

Organizations capable of efficiently collecting, curating, storing, and analyzing as much of this data as possible, are better placed to drive innovative solutions for end-users. This can result in cost savings, improved efficiency, and faster delivery times. For example: Bank of Marin – This US-based bank uses the compliance.ai

Healthcare 52

Healthcare Banking Finance Streamline Operations 52

Magellan Solutions

MARCH 22, 2021

Banking and Financial. Financial institutions, banks, CA firms, and accountants usually have a heavy load of data. Banks turn to outsourcing data services to companies that take charge of a lot of back-office functions. This includes HR activities, marketing, risk management, trade reporting, & compliance.

Data Entry 52

Data Entry Outsourcing E-Commerce Banking 52

Everest Group

APRIL 3, 2024

Conduct an internal risk assessment: This can help identify and prioritize assets most impacted by a quantum computer cryptographically, thus exposing the organization to greater risk. How can service providers help enterprises navigate the PQC era effectively and efficiently?

Cybersecurity 72

Cybersecurity Research Banking Collaborations 72

Infosys Consulting

MAY 22, 2023

This leads to an exponential increase in false positives and manual review, jeopardizing the effectiveness and efficiency of the entire screening process. On the other hand, it is important to note that extensive fuzzy matching can also reduce the risk of false negatives.

E-Commerce 52

E-Commerce Data Entry Administrative Banking 52

Infosys Consulting

OCTOBER 19, 2023

The new clientele demands a similar level of access to efficient advisors who can provide solutions catering to specific life-events and situations of the clients. Figure 1: Evolving paradigms in wealth management Technology, data, and analytics remain the key in this changing business model. He is also a certified FRM.

Management 52

Management Co-Sourcing Insurance Banking 52

Paysquare

AUGUST 30, 2023

The employees put all their focus on payroll while deviating their efficiency from more important things that may increase the productivity of your business. Having a dedicated external vendor to finish this job allows process specialization in your employees, who can then achieve the company goals in a more efficient way.

Payroll 52

Payroll Outsourcing Regulations Banking 52

SIG Speaks

JANUARY 6, 2023

SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Jonathan Purdon discusses the vital aspects to add to your risk management framework and the best practices for creating a risk culture. This framework could be efficiently utilized to define processes, SLAs, and more.

Risk Management 40

Risk Management Risk Management Government Banking 40

Globalization Partners

DECEMBER 30, 2021

As the fifth-largest economy in the European Union , the World Bank ranks the Netherlands in the top 40 percent of the easiest countries to do business with globally. On the other hand, companies that rely on the worldwide supply network practice better risk management and experience increased stability.

Payroll 98

Payroll Research Government Marketing 98

IBM Services

DECEMBER 4, 2023

Risk management To make underwriting decisions related to property, insurance companies gather a significant amount of external data, including the property data provided in insurance application forms, historical records of floods, hurricanes, fire incidents and crime statistics for the specific location of the property.

Insurance 56

Insurance Cybersecurity Risk Management Risk Management 56

Everest Group

MARCH 19, 2024

Adequate resources are crucial to ensure scalability, allowing Gen AI systems to manage increasing workloads efficiently. These can play a pivotal role in easing the efficient deployment, orchestration, and monitoring of AI models.

Government 59

Government Advisory Risk Management Risk Management 59

Capgemini

NOVEMBER 4, 2024

These are heavily regulated organizations and stand to benefit from the quality control, risk management, compliance, and peace of mind Gen AI can facilitate. Here are key areas where Gen AI can help automotive lending and portfolio management. The Federal Reserve Bank of New York data show that 7.9 Credit applications.

Finance 52

Finance Insurance Manufacturing Banking 52

Magellan Solutions

JULY 19, 2021

Retailers now understand their customers better, increase operational efficiency, and enhance overall customer experience. . Risk management efforts for retail banks are put into the spotlight because of the pandemic. As more of the clients use online banking transactions. Risk management.

Data Entry 52

Data Entry Outsourcing Analytics Retail 52

inDinero

SEPTEMBER 25, 2024

While an accounts receivable factor with a bank would sell your receivables to the bank in exchange for a percentage of their value, accounts receivable financing would use outstanding invoices as collateral for a loan. Often, a business could expect to borrow an amount between 70 and 90 percent of the value of its receivables.

Finance 52

Finance Accounting Banking Sales 52