Bank of America’s AI chatbot Erica is on a roll, up from 50K users to 3.5 million in less than six months! I was in the audience when Bank of America unveiled Erica at Money 20/20 in October 2016, and I was blown away by Erica’s potential to use AI, cognitive messaging, and predictive Read more...
The global financial services industry currently spends about $1.7 billion annually on distributed ledger technology, according to a recently published report from US researcher, Greenwich Associates, with spending on blockchain increasing year-on-year by almost 70%. We have been talking blockchain with a number of financial services thought leaders all around the world. It’s encouraging to Read more...
In July of 1804, the architect of the American financial system, Alexander Hamilton, was fatally wounded in a duel. Yet his legacy lives on and many more know of it thanks to the Broadway smash-hit “Hamilton.” Now the industry that evolved from the model Hamilton proposed, revolutionary at the time and relatively unchanged for Read more...
by Manasee Dash “The best way to predict the future is to create it.” That’s what management consultant Peter Drucker said, and what we found top financial services IT leaders worldwide ruminating on at VMworld 2018. Even as IT execs are managing day-to-day bank operations, they’re architecting the future foundations of their firms. And that’s Read more...
I saw it, and I felt it. The “it” I’m referring to was a silent, yet collective “yes” in the audience that later seeped into VMworld 2018 conversations. It was the response to Pat Gelsinger’s words, seemingly an admonition from VMware’s CEO to all of us in attendance: “Tech as a force for good is Read more...
Back by popular demand, VMworld Industry Workshops featuring healthcare, financial services, government, and education digital transformation leaders will take place Sunday, August 26. Each pre-conference workshop offers a unique opportunity to hear peers describe their visionary perspectives and practical approaches to tough industry challenges. Organizations and agencies looking to improve engagement, empower employees, strengthen cybersecurity, Read more...
“Yesterday’s wow quickly becomes today’s ordinary.” That’s how Digital Banker Of The Year, Fifth Third’s Tim Spence described the current state of financial services, borrowing the quote from Jeff Bezos. Tim is EVP, head of Payments, Strategy, and Digital Solutions at the bank. As I sat in the Austin audience listening to Spence speak, I Read more...
The deadline for compliance with the European Union General Data Protection Regulation (GDPR) passed on May 25, 2018 and it represents the most sweeping change in data privacy in more than 20 years. Any organization that collects or processes “personal data” – think personally identifiable information (PII) – on anyone in an EU country (EU Read more...
Perspective is everything. In meetings with banking leaders this week, I heard a lot of frustration. We want to do this, but compliance is pushing back. Lines of business want us to do these projects, but IT can’t do them without doing these other things first. Friction is natural in any business, but I’ve seen Read more...
By Pam Takahama To be anything, must a business now be everywhere? That’s a question I’ve begun to regularly ponder because heading into my local grocery store, I can now stop at my bank. When I pick up a prescription, I notice individuals at kiosks, taking their blood pressures. When I walk into a Read more...
