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Tech giants are emerging on the rim of technology, with AI banking in other areas of the banking and financial sector​ also showing signs of interest and adoption.





​The debate in the media about the emergence ofAI in the banking industry​ comes from the topic of automation and its ability to cut countless jobs from startup acquisitions.





Here are some applications used by the top US banks.

Also Read: America’s Top 6 Banks that use AI technology​



Emerge Data Analysis

Seven leading US commercial banks have prioritized technology advances with investments in AI applications to better serve their customers, improve performance and increase revenue.

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The future of finance is heavily influenced by emerging and AI applications to increase competition among the industry’s leading lenders.





Predictive Analytics — Predictive Banking

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artificial intelligence-based Predictive Banking application via smartphones.

Predictive Banking includes features such as:

Alerting customers of higher-than-average recurring billing payments

Reminding a customer to transfer money into their savings account if they have more money than average in their checking account

Prompting customers to set up a travel plan for their account after they’ve purchased a plane ticket

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Fraud and Anti-Money Laundering

According to our research, Citibank has promoted its interest in artificial intelligence better than other banks. We found 7 AI-related press releases on City properties.

Through the Ventures and Acquisitions division of Citi Ventures, the bank has a global network of tech companies participating in its six City Global Innovation Labs. In the initial investment portfolio, special emphasis was placed on eCommerce and cyber security.





It made several investments in AI companies in 2016, including FeedJay, fraud and anti-moneylending vendor. Recently, the City announced a strategic partnership with Feedjoy to incorporate its software into the bank’s fraud detection processes.









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Robotic Process Automation

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The 233-year-old financial institution is banking on “bots,” specifically robotic process automation (RPA), to improve the efficiency of its operations and to reduce costs. Although RPA is not AI, RPA software sometimes integrates artificial intelligence.

In addition, contrary to its name, white-collar processes are carried out not by physical robots, but by software applications.

These applications, known as web robots or Internet bots, are programmed to process automated tasks. In May 2017, the bank announced that over the past 15 months, the company has rolled out more than 220 bots developed by Blue Prism for handling tasks that are often repetitive in nature and normally handled by staff.

USM for Banking Professionals

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