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Practical AI Applications in Banking and Finance

Practical AI Applications in Banking and Finance
By Julie Muhn (@julieschicktanz) Posted on
Categories: Streamly

In today’s Streamly Snapshot, we’re bringing you two conversations that offer a view into real-life AI use cases in the financial services space. While it is seemingly impossible to do business without running into a discussion on AI, separating what is hype from what is practical and useful can be difficult. And because AI development is rapidly and constantly changing, leaders have an even bigger challenge when using AI to get ahead.

Today, we’re featuring two conversations from experts in both AI and fintech who offer their perspectives on how firms can apply AI in practical use cases.

First, Sarah Hinkfuss, Partner at Bain Capital Ventures, talks about how banks are currently leveraging AI to solve actual problems, offers examples on how AI is improving the customer journey, looks at how firms can ensure transparency when implementing AI, addresses misconceptions around AI, and discusses how to navigate the challenges around using AI.

Next up, Vivian Yeung, Executive Vice President, Chief Digital & Technology Officer at Fremont Bank, examined what AI in action looks like. Yeung offered examples on how AI is being used to improve the customer experience across different industries and how financial services are being used to personalize the customer experience. She also takes a look into the future of the customer experience and considers the ethical implications of AI implementation.

For more of these types of insightful videos, check out Streamly.com.

Photo by Wallace Chuck

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Streamly Fintech Insights: From the Future of Finance to Innovations in Cybersecurity

Streamly Fintech Insights: From the Future of Finance to Innovations in Cybersecurity
By David Penn Posted on
Categories: Streamly

Streamly Fintech Insights offers unique opportunities to hear from some of the most innovative personalities in fintech and financial services.

Streamly’s interviewees range from entrepreneurs and investors who are helping build and fund tomorrow’s fintech solutions today to analysts and regulators whose job it is to ensure that the interests of consumers are heard and the rights of citizens are protected.

This week, we’re sharing six new conversations from Streamly’s Fintech Insights series.

The Future of Finance in the U.K.

Embedded Finance and BaaS

Navigating Legal Fintech Challenges

Securing Fintech: Hacking Smart Devices and the U.K. PSTI Law

Unlocking Hedge Fund Strategies for Retail Investors

Exploring Fintech Innovation and Cybersecurity

Photo by Donald Tong

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Streamly Snapshot: Fintech Founders on How to Communicate through Demos

Streamly Snapshot: Fintech Founders on How to Communicate through Demos
By Julie Muhn (@julieschicktanz) Posted on
Categories: Streamly

Founders are what make the fintech world go around. Without their grit, willingness to take risks, desire to enhance the status quo, and determination to bounce back after failure, fintech wouldn’t be here.

At FinovateSpring earlier this year, we spoke with four fintech leaders– Robbie Heeger, President and CEO and Endaoment; Alexandra McLeod, CEO and Founder at Parlay Protocol; Gwyneth Borden, Founder and CEO and Remynt; and Christian Widhalm, CEO and Bloom Credit– shortly after they stepped off the Finovate demo stage. We asked each of them for advice on pitching a product through a demo approach, refining presentations, and communicating their company’s value proposition.

Lessons from Finovate – Shaping your fintech showcase approach

Evolution through Feedback – Refining Fintech Presentations for Future Success

Unlocking Demo Success – Key Strategies for Communicating Fintech Value Propositions

Mastering Audience Appeal – Crafting Tailored Demos for Investors, Experts & Clients

How to prep for FinovateSpring – Fintech product demo tips

Photo by RDNE Stock project

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Streamly Subject Snapshot: The Payments Landscape

Streamly Subject Snapshot: The Payments Landscape
By Julie Muhn (@julieschicktanz) Posted on
Categories: Speaker series, Streamly

Everyone in our industry sits in a unique place. Because of this, there is immense value in taking the time to listen to others’ perspectives. At our FinovateSpring conference earlier this year, we spoke with Akita Somani, SVP of BNPL and Lending at U.S. Bank, and Bhavana Prathipati, Managing Director, Payments Product Manager at Silicon Valley Bank.

Both experts offered their insights on two key themes in the payments world. Somani discussed how U.S. Bank’s own buy now, pay later point of sale lending solution can help consumers pay for essentials such as home repairs. “It’s all about providing options, and therefore opportunities,” she said. Somani also highlighted regulatory issues in the BNPL arena.

On the opposite side of the traditional bank space, where U.S. Bank sits, Prathipati has a wide view of the fintech payments scene. In her interview, Prathipati discusses how real time payments has changed the lives of consumers by, for example, making real-time insurance claim payouts possible. She also touches on some of the challenges and risks involved in real-time payments.

Buy now, pay later

Real-time payments

Photo by Karolina Kaboompics

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Streamly: Community Banks, Credit Unions, and Big Tech Partnerships

Streamly: Community Banks, Credit Unions, and Big Tech Partnerships
By David Penn Posted on
Categories: Interview, Streamly

Our Streamly series of interviews continues with four more conversations from fintech and financial services professionals who spoke at FinovateSpring earlier this year.

For more from Streamly and FinovateSpring, check out our blog post from last week, AI in Financial Services: Automation, Profitability, and Fraud Prevention.

Unlocking advertising potential: Financial services on Amazon

Chief Revenue Officer at Revive Media Danielle Shamos discusses strategies to reach targeted audiences and how the effective use of data can enable even further audience growth. Shamos also talks about the uniqueness of Amazon as an advertising platform.

How can community banks gain a competitive edge through technology?

Barb MacLean, SVP and Head of Technology Operations and Implementation at Coastal Community Bank, talks about how technology can help community banks secure a competitive edge. MacLean also discusses the importance of internal innovation and the challenges of banking-as-a-service.

Reimagining community banking: How can you adapt your strategy to changing customer needs?

John Waupsh, Chief Revenue Officer of Manifest Financial, explains why it is important for community banks to define their strategic purpose at a time of increasing competition. Waupsh also discusses the importance of adapting business strategies to ever-evolving customer needs.

Credit union solutions: What’s different about this landscape?

Managing Director at TruStage Ventures Sam Das discussed the unique challenges that confront credit unions today – from membership retention to cybersecurity. Das also explains that while there is demand from credit unions for tailored fintech solutions, fintechs needs to “come prepared” if they want to successfully partner with these financial institutions.

Photo by CoWomen

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AI in Financial Services: Automation, Profitability, and Fraud Prevention

AI in Financial Services: Automation, Profitability, and Fraud Prevention
By David Penn Posted on
Categories: Speaker series, Streamly

The role of AI in financial services is rapidly evolving. Not since the heady days of the Internet boom has an emerging technology so powerfully captured the imagination of companies, investors, workers, and consumers around the world.

As financial services companies search for ways to take advantage of AI to improve efficiency, better understand data, and engage more proactively and personally with their customers, it is all the more worthwhile for us to listen to those entrepreneurs, analysts, and investors who have taken the time to understand both AI’s promise as well as its limitations. Here, in our latest series of Streamly interviews, we present three individuals whose insights into AI are worth hearing and sharing.

Generative AI: Extending the boundaries of what automation can do

In this interview with Sarah Hinkfuss, Partner of Bain Capital Ventures, we learn how generative AI is transforming the way financial institutions leverage unstructured data, streamline processes, improve underwriting, and expand their product offerings. The conversation also touches on the importance of data quality and change management in AI adoption for financial institutions, providing valuable lessons from early adopters.

How can you make AI adoption profitable?

Chris Brown, President of Intelygenz USAA, talks about two decades of optimizing banking and fintech through deep tech and AI solutions, and shares his top takeaways from his keynote address at FinovateSpring earlier this year. Brown discusses some of Intelygenz’s strategies to overcome common AI project pitfalls, and explains the company’s end-to-end approach to client engagement.

Navigating fraud prevention challenges with AI

Intellicheck CEO Bryan Lewis explores contemporary challenges in fraud prevention, the limitations of traditional methods, and the role of AI in enhancing security measures. Lewis discusses how AI can both help and hinder fraud prevention, as well as how you can protect yourself and your business from fraud.

Photo by Tara Winstead

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The Evolution of the Customer Experience Discussion in Fintech

The Evolution of the Customer Experience Discussion in Fintech
By Julie Muhn (@julieschicktanz) Posted on
Categories: Streamly

The conversation around customer experience in financial services pre-dates fintech. And while the topic surged after the great digitalization of services took place in 2020, conversation about customer experience in banking and fintech has once again slowed.

This regression is taking place not because we’ve perfected the customer experience or because the topic is no longer relevant. Rather, it is because other topics, like the inclusion of GenAI or the consideration of multiple, new regulations have taken the spotlight. These two factors, however, are contributing to a change in how we discuss customer experience in banking and fintech. That’s because we are now leveraging GenAI tools to use data analytics and behavioral insights to respond to and anticipate customer needs. Regulatory compliance factors, such as new privacy acts, have also caused conversations around the customer experience to mature.

At FinovateSpring earlier this year, we spoke with multiple experts to better comprehend how the conversation around the customer experience has evolved, to grasp where we are now, and to understand where the concept is headed in the future.

LeanData’s Matt Lyman on LeanData’s approach to transforming CRM in financial services

Next Step’s Shirin Oreizy on unlocking behavioral insights in financial services marketing

Beyond the Arc’s Steven Ramirez on revolutionizing customer experience with AI and embedded finance

SVB’s Christopher Hollins on personalizing the banking experience

EMARKETER’s Tiffani Montez on BaaS in financial services

Photo by Jon Tyson on Unsplash

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Insights from the Frontlines: Five Fintech Founders Share Their Stories

Insights from the Frontlines: Five Fintech Founders Share Their Stories
By Julie Muhn (@julieschicktanz) Posted on
Categories: Streamly

In the fast-evolving world of fintech, founders are a breed apart, characterized by their unique blend of grit, determination, and adaptability. Their journeys are often marked by challenges, triumphs, and invaluable insights. In this series of interviews, we delve into the minds of five fintech founders to uncover the lessons they’ve learned, the key traits they believe are essential for a successful founding team, and the distinctive challenges and opportunities they’ve encountered on their entrepreneurial paths. Join us as we explore the stories and experiences that have shaped these innovative leaders in the fintech industry.

Below, we feature insights from:

Reflections on our journey – key lessons learned since launching our company

The winning formula – essential traits for a successful founding team

Our company’s early challenges – overcoming obstacles on the path to success

Our fintech solution – recognising the need and maximising potential

From vision to reality – how it all began

Photo by Miguel Á. Padriñán

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Founders Series: 5 Conversations on Compliance and the Regulatory Landscape in Fintech

Founders Series: 5 Conversations on Compliance and the Regulatory Landscape in Fintech
By David Penn Posted on
Categories: Interview, Streamly

The regulatory landscape for companies innovating in fintech and financial services is complex and ever-changing. Whether a company is developing solutions in the crypto space or seeking to take advantage of the opportunities in open banking, open finance, or Banking-as-a-Service, a comprehensive understanding of the regulatory environment is critical for success.

In its latest series of video conversations from our sister publication Fintech Futures, Fintech Founders interviews six industry professionals – all Founders and Co-Founders – to hear from them what they believe will be the biggest regulatory challenges for fintech start-ups in the coming years.

Check out our conversations on compliance in fintech and financial services featuring:

Ensuring Compliance for Your Product or Service

Evolution of Industry Compliance – A Decade of Shifting Perspectives and Practices

Regulatory requirements – Adapting operations accordingly

Technology and automation – Streamlining compliance processes

Navigating the Regulatory Landscape – Top Challenges for Fintech Start-ups

Photo by Markus Winkler

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Gen AI, Geopolitics, and the Blue Dot Customer: 3 Conversations from FinovateEurope

Gen AI, Geopolitics, and the Blue Dot Customer: 3 Conversations from FinovateEurope
By David Penn Posted on
Categories: FinovateEurope 2024, Interview, Streamly

Today we’re sharing our final set of conversations from our European fintech conference, FinovateEurope. This round of interviews expands beyond our recent look at embedded finance, open banking, and the customer experience in financial services to cover broader themes like AI, the intersection of geopolitics and finance, and the customer of tomorrow.

The truth about generative AI: What financial institutions really need to know about adoption

Author, Generative AI expert, and founder at Tamang Ventures, Nina Schick discusses the realities facing financial services companies when they adopt generative AI. Schick talks about lessons financial services companies can learn from early adopters of the technology in other industries, and why partnerships are the way forward for most companies in banking and finance to best take advantage of AI.

The geopolitical super cycle and what that means for financial services

CEO at London Politica, Manas Chawla talks about the geopolitical risks facing the financial services sector in 2024 – from Ukraine to Gaza to the upcoming Presidential election in the United States. Chawla also discusses the geopolitical supercycle and the challenge of “grey rhino” threats that leaders in both business and politics need to be aware of.

The blue dot consumer: What can financial services learn from Taylor Swift, Red Bull, and United Airlines

A consumer behaviouralist at The King of Customer Experience Ken Hughes introduces the concept of the blue dot consumer in his discussion of what he calls “the customer of tomorrow.” Hughes talks about the relationship between technology and the human experience, how successful brands build loyalty, and what banks and financial institutions can do to foster true loyalty.

Photo by CoWomen

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Wealthtech, Open Banking, and Personalization: 3 Conversations from FinovateEurope

Wealthtech, Open Banking, and Personalization: 3 Conversations from FinovateEurope
By David Penn Posted on
Categories: Interview, List series, Streamly

Our series on conversations with fintech experts from FinovateEurope continues this week. Today we feature three interviews I conducted with fintech professionals innovating in some of the more interesting areas of our field:

  • a discussion with everyoneINVESTED’s Jurgen Vandenbroucke on the challenge of embedding emotion into financial technology
  • a conversation with BBVA’s Jose Luis Navarro on open banking and the future of financial services
  • an interview with Katharina Lüth, Chief Client Officer and Managing Director at Raisin, on the importance of personalization in the customer experience.

Wealthtech: bringing investment solutions to banks and customers

Jurgen Vandenbroucke, Managing Director at everyoneINVESTED, talks about the unique challenges of innovating in the wealth management and investment space. He shares his thoughts on what digital engagement really means when it comes to serving investors, and discusses what changes he sees in the regulatory landscape for investors in the U.K. and Europe.

Open banking and the future of financial services

Head of Open Banking Strategy at BBVA, Jose Luis Navarro, discusses the different approaches to open banking in Europe, North America, South America, and beyond. He covers the role of regulation, the importance of understanding third party risk, and the way customer demand is shaping the perception of open banking.

Personalization and customer engagement in an international financial services company

Chief Client Officer and Managing Director at Raisin Katharina Lüth talks about the importance of personalization and customer engagement in an international financial services company. Lüth discusses how Raisin develops personalization strategies across multiple geographies, how to manage friction in the customer experience, as well as current economic trends in the U.K., Europe, and the U.S.

Photo by Donald Tong

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Streamly Fintech Insights: Geopolitical Risk, Tech Trends, What’s Hot, and What’s Not

Streamly Fintech Insights: Geopolitical Risk, Tech Trends, What’s Hot, and What’s Not
By Julie Muhn (@julieschicktanz) Posted on
Categories: Streamly

Need some Friday insight to carry you into the weekend? We’ve got you covered.

Today, we’re unveiling four videos featuring interviews with fintech experts. These videos provide valuable perspectives on the escalation in geopolitical risk, key tech trends revealed at FinovateEurope, and a comprehensive overview of what’s hot and what’s not in the fintech space. Whether you’re a seasoned industry professional or just curious about the latest developments, these videos offer valuable insights from some of the brightest minds in the field.

Photo by Shahadat Rahman on Unsplash

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