During the session, Patricia will discuss how there are several emerging technologies transforming the banking industry, but two stand out with their potential to improve customer satisfaction, reduce costs, mitigate risks, and increase revenues – APIs and AI. Secure, publicly accessible application programming interfaces (APIs) have been around for more than ten years in the financial services sector, but until recently banks were reluctant to publish open, external APIs for customers or third parties to readily access financial data. With regulatory initiatives well underway in the Euro Zone and the UK, it is clear that open banking APIs are inevitable. Banking APIs are on fire, with forward-looking banks moving beyond regulatory minimums, enabling value-added services by exposing a broad range of banking services through APIs.
Artificial intelligence (AI) can help banks by applying newly capable technology in analytics, bots, robotic process automation, and report generation. AI has the potential to improve all parts of the bank, from front end, customer-facing areas; to the middle office; and through to the back office. While there's more smoke than fire today in banking AI, institutions must nevertheless develop a strategy for this set of rapidly developing technologies.
Patricia Hines, CTP, is a senior analyst with Celent’s Banking practice and is based in Charlotte, NC. Her areas of research include global transaction services and wholesale banking with a particular emphasis on treasury and cash management, corporate banking delivery channels, and emerging technologies, along with commercial and small business lending.
APIs and Artificial Intelligence in Banking: There’s smoke, but is there fire?
Confirm your Spot!
We are excited you will be attending this session to learn how
banks are deploying APIs and AI to add value and which specific
technologies you should evaluate first. Please confirm your spot at the OpenText hosted roundtable by submitting the form.
Host: Patricia Hines, CTP, Celent
Session: How API’s and AI are impacting the Financial Services Industry
Date: Tuesday, September 26
Time: 12:00 PM - 5:00 PM EST (followed by cocktails at Cactus Club Cafe)
Location: Northbridge Place, 12th Floor - 105 Adelaide St W, Toronto, ON M6J 2L3
The agenda for the event will be:
Lunch at OpenText, Toronto - 12:00 pm – 1:00 pm
How API’s and AI are impacting the Financial Services Industry - 1:00 pm – 5:00 pm
Cocktails and appetizers at Cactus Club Cafe - to begin at 5:00 pm