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Will you take the blue pill or the red pill?

Articles19 Dec 2016 no comments

An unconventional review of Artificial Intelligence in banking

By
Maysam Rizvi
Managing Director, Aelm Ltd

I grew up watching movies like Terminator 2 and the Matrix, where in the future robots/AI have enslaved humanity. And if I’ve learnt anything – it is not to trust the future in the hands of Artificial Intelligence (AI). The reality is that AI is going to be a big part of our future.

In the 90’s a large contingent of factory workers lost their jobs to automated machines that were more efficient at doing their jobs. Now we are witnessing the automation of the service industry – banking is one of those industries. However, this automation has been decades in the making, ATMs have been edging into the bank teller’s jobs for years now. Credit applications have been reviewed by automated models for a long time.

If we are to believe the press, banks are warming up to the next phase of automation and AI – whether it is in the banking retail space or investment banking. There are a slew of discussions and works ongoing to take AI in banking to the next level.

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Banking Tech Revolution, Bridging the gap

Ebooks22 Nov 2016 no comments

After the financial crisis and the subsequent intensifying global regulations banking is going through a technological revolution. The environment in which we operate has changed dramatically – shareholders, customers and regulators have had a paradigm shift in their thinking and perception of banking. Given the advances in mobile technology there is now a growing threat of competition from tech firms like Google and Apple but also a number of Fin-tech startups trying to bring innovation to a long-standing industry. This raises many questions: As a bank how do you differentiate your services from your competitors? How much do you spend on technology? How much is too much? How do you ensure success?

Download ebook banking-tech-revolution

Trump wins! A perspective from twitter data

Articles11 Nov 2016 no comments

Trump has won the US Presidential election 2016. The result has surprised most people across the world as the general vibe was that Clinton was a stronger candidate. A vibe or pulse is subjective – and it is dangerous to believe it for deciding our future course of actions. So what is the alternative? If we can somehow convert the subjective to objective – derive metrics which will simplify the complexities of subjective feelings and emotions to understandable information such as a number representing sentiments as negative or positive.

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7 things that are changing banking

Ebooks27 Oct 2016 no comments

While regulation and technology seem to be the major forces disrupting banking, there are others at play that don’t get as much headline as they probably should. Banking as we know it is changing and it is not just a few banks impacted, the whole industry is reshaping itself. This is a culmination of a number of events like the global financial crisis, increased regulation, bank bailouts, technology firms stepping into payments business, etc. that has impacted the way we see and use banking services. In August 2016, the Competitions & Markets Authority (CMA) of the United Kingdom published the Retail Banking Market Investigation report.

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Standardisation and implementation of product due diligence saved major global bank $216,000 annually

Case Studies14 Oct 2016 no comments

The Lending Department of a Tier One Bank with more than three thousand clients faced the need to implement product compliance process as part of their regulatory and risk requirements. The process involved completing a printed product compliance form with actual financial and transactional data from each business line and the outcome of a F2F meeting with the client for anticipated future business. The data from the completed form is recorded into the backend database of the Bank.

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Integrated visual data analytics saves major banking division $350,000 per year

Case Studies7 Oct 2016 no comments

Trade Finance is an important part of Commercial and Investment Banking. A tier one bank, with a global client portfolio of loans and letters of credits, faced a need for an overhaul of their global client data and analytics due to changing market conditions and regulatory requirements. The bank’s different data systems worked in silos and proved to be both difficult and time consuming in producing meaningful analytics for seniors, compliance officers and risk managers.Trade Finance is an important part of Commercial and Investment Banking. A tier one bank, with a global client portfolio of loans and letters of credits, faced a need for an overhaul of their global client data and analytics due to changing market conditions and regulatory requirements. The bank’s different data systems worked in silos and proved to be both difficult and time consuming in producing meaningful analytics for seniors, compliance officers and risk managers.

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Social Intelligence, turning social media into actionable marketing and business strategy

Articles6 Oct 2016 no comments

Business strength is reliant on responding to the customers’ needs and wants faster than the competitors. It ensures that the customers come back to the business, building trust and loyalty. The businesses today have turned to social media to maintain a meaningful and proactive relationship with their customers by analyzing and understanding the customers’ voice. This concept of turning social media data into actionable marketing and business strategy is called Social Intelligence.

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Aelm is partnering with Microsoft® Power BI™ and Tableau®

Announcements6 Oct 2016 no comments

Aelm is breaking new ground with its consulting, technology and data visualization. The partnership will combine Aelm’s expertise in business solutions for big data and analytics with Microsoft® Power BI and Tableau®, both market leading data platform technologies to deliver solutions for today’s increasingly data rich world.

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Aelm’s website

Announcements6 Oct 2016 no comments

Aelm is inviting visitors to explore its new website designed to provide the ultimate user experience with improved navigation and functionality. This site will grow to include downloadable and informational content on topical industry issues with the option to share across social networking sites.

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