The banking sector is witnessing groundbreaking changes; the foremost being the rise in customer-centricity. Tech-savvy customers, exposed to advanced technologies in their day-to-day lives, expect banks to deliver a similar experience when it comes to their banking requirements. To meet such expectations, banks are increasingly expanding to retail, IT, and telecom solution providers to enable services like mobile banking, e-banking and real-time money transfers. While this expansion is indeed happening, it is coming with the cost of online security threats in banking transactions. As a result, the banking space is taking refuge in artificial intelligence (AI) as it brings the power of advanced data analytics to combat fraudulent transactions and improve compliance. AI algorithms can detect anti-money laundering activities in a matter of few seconds. To add to that, different modules of AI such as bots, digital payment advisers (DPA) applications, and biometric fraud detection mechanisms are further bolstering a company's threat prevention strategies and delivering a higher quality of service to a wider customer base. For a client in the banking sector, this is translating to increased revenue, reduced costs and a boost in profits.In this edition of Banking CIO Outlook, we bring you the story of some of the most prominent organizations specializing in artificial intelligence and are significant drivers of key trends and strategies. Besides, the magazine also offers a combination of thought leadership articles from subject matter experts and exclusive insights from CIOs and CXOs. We hope this edition will provide you with the right assistance in choosing the best artificial intelligence solutions provider according to your requirements.Let us know your thoughts!Copyright © 2021 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Email:sales@bankingciooutlook.comeditor@bankingciooutlook.commarketing@bankingciooutlook.com MARCH - 2021, Volume 07 - 02 (ISSN 2644-2418) Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesAnnie Mathewsannie.mathews@bankingciooutlook.comVisualizerRonald DonovanIssac GeorgeManaging EditorJames RobertsonAdvancing the Financial Sector's Cybersecurity with AI James RobertsonManaging Editor editor@bankingciooutlook.comCarolynn WaltersJustin SmithJoseph MichaelEditorialKenneth ThomasRussell ThomasPaul Barber*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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