LendingClub combines ML and AI to fight fraud
LendingClub attributes fraud detection capabilities to its proprietary AI-driven system. “Our fraud rate is near zero, less than 3 basis points,” Lukasz Strozek, chief...
LendingClub streamlines document verification to seconds with AI
LendingClub is piloting AI to streamline document verification in the lending process. “The AI-assisted document verification workflow automates part of the lending process that historically required manual review,” Lukasz Strozek,...
RBC to generate up to $1B in enterprise value through AI
Royal Bank of Canada is seeing increased efficiency and output through continued investment and deployment of AI. The $1.1 trillion bank launched RBC Assist for 30,000 employees in the third quarter, Geoffrey Morton, senior director...
TD Bank says gen AI-driven platform boosts cross-selling by up to 30%
TD Bank has deployed gen AI-driven platform TD AI Prism to predict consumer needs and provide them with solutions proactively. The $1.2 trillion bank’s marketing teams use the platform to predict what retail products and services clients...
How does lower inflation uncertainty affect households’ financial behaviour? – Bank Underground
Christoph Herler and Philip Schnattinger
Macroeconomic Environment Theme
The Bank of England Agenda for Research (BEAR) sets the key areas for new research at the...
Valley Bank exec: Calculating ROI easier for traditional AI
Financial institutions that are deploying gen AI are seeing efficiencies, but quantifying ROI is difficult. Returns from traditional machine learning are more quantifiable than returns from generative AI, Valley Bank Chief Data and Analytics Officer Sanjay Sidhwani told FinAi News. ...