The financial services’ vast well of data and communications means the industry both benefits and is vulnerable to harm by artificial intelligence (AI). Fusing AI and quantum technologies (AQ) will enable fast data analytics while vastly improving cybersecurity – a game changer for the financial industry.
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Dan Schulman. Digital technology is spurring financial inclusion around the world, enabling millions more people and businesses to join the global economy for the first time. Yet there is much more work to do. That's the key message from the World Bank's new Global Findex database, a groundbreaking portrait of how people in more than 140 ...
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Innovations to the financial services industry must prioritize the goal of building financial health and resilience for individuals, families, businesses and communities. A staggering 1.7 billion people in the world still lack access to formal financial services, and billions more are underserved by the traditional financial system. Building up ...
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The true purpose of financial inclusion lies in its ability to empower individuals and businesses, foster economic growth, reduce poverty and promote social equality. By leveraging telecom infrastructure and customer insights, financial products can be tailored to fit the circumstances of individuals in underserved communities, creating a data ...
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Women have the power to fundamentally reshape the financial services and investment landscape, as both investors and from within key financial institutions. An estimated $700 billion could be unlocked by financial institutions by better-serving women as investors. There is evidence that women overall make better investors, and generate higher ...
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Financial services firms are increasingly working to meet customers where they are, with tailored products and services at the moment of need, or in anticipation of the need. Emerging technology clusters are enabling granular data collection alongside timely analysis and secure information sharing, helping firms identify what services would most benefit each customer and when.
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So the 2021 edition, based on nationally representative surveys, we've got 128,000 adults and 123 economies during the COVID 19 pandemic conducted indicators on access to and use of formal and informal financial services, including these of cards, mobile phones and the internet to make and receive digital payments, including the adoption of digital merchant payments, how you buy groceries, and ...
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The benefits of blockchain for customers underpin the benefits for insurers and the financial services industry more widely. Clear audit trails and the ability to monitor and audit financial transactions in real time enhance the ability of regulatory supervisors to ensure the stability of the financial system, which is, of course, also good for ...
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The advancement of technology in financial services has undoubtedly been a net positive over the past decades. For firms, technology and innovation have helped to streamline operations and offer new digital financial products and services to customers at low cost.
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Global AI in Financial Services Survey, supported by EY and Invesco, shows the impact AI will have on financial institutions, from business models to changes in the workforce; By 2030, FinTechs anticipate AI will have expanded their workforce by 19%; Data quality and access to data, as well as access to suitable talent, are all seen as major ...
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