Celent Roundtable | APIs and Artificial Intelligence in Banking: There's smoke, but is there fire?
While there are several emerging technologies transforming the banking industry, two stand out with their potential to improve customer satisfaction, reduce costs, mitigate risks, and increase revenues – APIs and AI. Secure, publicly accessible application programming interfaces (APIs) have been around for more than ten years in the financial services sector, but until recently banks were reluctant to publish open, external APIs for customers or third parties to readily access financial data. With regulatory initiatives well underway in the Euro Zone and the UK, it is clear that open banking APIs are inevitable. Banking APIs are on fire, with forward-looking banks moving beyond regulatory minimums, enabling value-added services by exposing a broad range of banking services through APIs. Artificial intelligence (AI) can help banks by applying newly capable technology in analytics, bots, robotic process automation, and report generation. AI has the potential to improve all parts of the bank, from front end, customer-facing areas; to the middle office; and through to the back office. While there's more smoke than fire today in banking AI, institutions must nevertheless develop a strategy for this set of rapidly developing technologies.
This exclusive, invitation-only event will allow senior executives from leading financial institutions to discuss how banks can be in the forefront by adopting emerging technologies that allow them to enhance and replace human processes, modernize and streamline legacy infrastructure, and innovate and deliver an improved customer experience. What are the key use cases for AI and APIs in banking? What opportunities to improve business results are made possible with new technologies? How are banks embracing collaboration with third parties and harnessing the potential of open banking?
Limited to a select number of bankers, this intimate event will provide an opportunity for bankers to network with their peers and connect with analysts from Celent, a leading technology analyst firm focused on financial services. Dan Latimore, the leader of Celent’s banking practice, and Patricia Hines, a Senior Analyst focusing on corporate banking technology, will facilitate a morning-long program devoted to today’s most pressing strategic technology issues.