“There are some things money can’t buy. For everything else there’s Mastercard” But what makes Mastercard tick? The short answer: AI. The global payment & technology company leverages artificial intelligence to enhance data safety and reduce cyber risks. After its initial deployment of AI and ML in 2016, Mastercard has
Management consultants Ranga Reddy, P Venkatesh, NN Subramanian and VN Mahesh founded Maveric System in 2000. The Chennai-based company helps banking and fintech leaders accelerate business transformation through effective integration of domain, technology, future-ready strategy and high-velocity execution. Today, the company has expanded to the US, the UK, Saudi Arabia,
Banks have existed since the dawn of civilization. No wonder such institutions are steeped in legacy systems and are resistant to change, especially technological. However, the COVID-19 pandemic turned out to be a disruptor in chief. The last one and a half years have transformed the way banks operate and
On the first day of Analytics India Magazine’s The Rising 2021, Mohua Sengupta, Managing Director Bangalore at Mashreq Bank, delivered a keynote on how artificial intelligence is revolutionising banking. A State University of New York at Buffalo graduate, Mohua comes with more than 22-years of experience and has been previously
For this week’s startup column, Analytics India Magazine spoke to Suman Gandham, founder and CEO at Finin, to understand how the Bangalore-based fintech firm is leveraging emerging technologies to protect sensitive information as well as prevent unauthorised usage. Founded in 2020 by Suman Gandham and Sudheer Maram, Finin is a
Microsoft Qlib is an AI-oriented quantitative investment platform containing the full ML pipeline of data processing, model training, back-testing; and covers the entire auto workflow of quant investment.
The internet giants Twitter and Facebook were in the news again, for the same reason– their dubious online gatekeeping activities, which were allegedly exposed especially, during the election season in the US. The CEOs of both the companies, Jack Dosey and Mark Zuckerberg were grilled by the Congress seeking explanations
The Financial Stability Report of July 2020, by the Reserve Bank of India (RBI), indicates that the gross NPA ratio of the scheduled commercial banks can rise from 8.5% in March to 12.5% in March 2021. Although Non Performing Assets (NPAs) have been written off by the financial institutions time
Struggles in the banking and finance space aren’t unique to the COVID pandemic; however, the economic downturn due to the outbreak has indeed aggravated the situation. With the rapid change of customer behaviour, the financial companies are going under a significant transition of keeping up their relevance amid this crisis.
The COVID-19 lockdown, along with other industries, has majorly disrupted the financial sector. Although the majority of the banking functions have already been digitised, onboarding customers has continued to be a time consuming in-person process. KYC or know your customer has been a critical and mandatory process for financial institutions;
Hedge funds utilising artificial intelligence capabilities have shown a competitive edge over investors that didn’t use AI, according to new research. The coronavirus pandemic has given partial proof of the effectiveness of the application of artificial intelligence as a predictive tool in fund management; reveals the latest issue of The
Prasanna Lohar currently works as Head – Innovation & Technical Architecture at DCB Bank. As a part of DCB’s digital transformation, he is firmly focused on innovative customer servicing, technical architecture implementation, and adoption of emerging technologies for banking. Prior to this role, he was the Digital Bank Head for
With universities going online and the growing interest of the Indian government on online education, there has been a significant increase in the adoption of e-learning. Furthermore, as the future of work is shifting towards more data and information-driven, there is an urgent requirement for trained talent to build these
In this article, we will explore YFinance and learn what we can do. The stock we will be working on here is Pfizer, a Pharmaceutical Company listed in NASDAQ. YFinance is highly recommended for Financial Reporting as it provides you with each and every detail you require about the company
Indian Institute of Technology (IIT) Roorkee, in collaboration with WileyNXT, India’s skill assessment and recruitment solution, has announced the launch of AI in banking programme. India’s first-of-its-kind online programme, ‘AI in Banking’ has been designed for existing as well as recently-graduated technology and finance professionals, who aspire to build a
There has been tremendous growth in the use of emerging technologies in the finance sector. Fintech startups have been upending the incumbents with innovative solutions. This week, we spoke to Pranshu Diwan, co-founder of GoPlannr, that provides ML-based solutions to insurance companies. This Bangalore-based startup wants to help insurance companies
Finance and HR are like two opposite ends of the world — they are different in terms of several things. However, despite the differences, these two departments are dependent on one another and need each other to achieve the ultimate goals of an organisation. To have a clearer view of
Stephen Hawking, the renowned theoretical physicist once said, “It’s tempting to dismiss the notion of highly intelligent machines as mere science fiction.” The reality is that most AI applications do not have a physical form, but rather “live” in lines of code. The term “AI” includes all technology used to
The emerging technologies have played a huge role in bringing newer innovations in the banking industry. For instance, 4G internet and chatbots transformed the banking sector massively, paving the way for a smooth customer interaction. Also, at the same time development of online businesses had built the ground for
The Indian banking sector has embraced emerging technologies that are disrupting the financial landscape. Leading Indian banks such as SBI, HDFC, Axis Bank, Yes Bank and ICICI Bank have taken the lead in deepening their tech stack. Today, banks hire thousands of technologists and have prioritised IT hiring over
“In classical computers, you give me a certain input, I put it in my computer, I give you an output. But if our hardware was quantum mechanical, rather than just sequentially providing some input and reading out the answers, I could prepare the computer register in the quantum superpositions of
With chatbots gaining mainstream adoption in every domain and revolutionising human-computer interactions, these virtual assistants have begun to transform the customer service landscape in India. Not only is it making the execution of a task easier, it has brought a convenience in the way queries are solved. In this article,
As the scope of artificial intelligence applications in the financial sector increases, there is also a growing concern about its potential risks. The use cases in AI can be widely seen across banks, insurance companies and capital markets where it has been used for automation, supporting intelligent analysis and decision
The trend of companies following big data has been fading slowly in the past two years. In 2015, $122 billion was spent on big data and similar business analytics software. Although, the technology is rising, it is seeing a slouch in growth in the recent days. More companies are looking at
HDFC Bank’s artificial intelligence-based chatbot ‘Eva’ has achieved the title of India’s largest chatbot, by successfully addressing over 2.7 million customer queries in just six months. Built by Bengaluru-based Senseforth AI Research, EVA or Electronic Virtual Assistant was launched in March earlier this year on HDFC Bank’s official website. Since
Of late, Indian banks have made a concerted effort to wrap their arms around disruptive technologies –most notably disruptive of all is artificial intelligence (AI) that lends easily to functions such as fraud management, personal finance, debt collection, sentiment analysis, predictive analytics and credit scoring among others. Case in point
Microsoft held its most recent Data Insights Summit in Seattle in June, this year. One of the highlights of the conference was Office 365 starting to blur the lines between many applications, thus making it all the more necessary to learn about the applications. Microsoft Power BI was at the
Artificial Intelligence will touch new grounds in Singapore, as the country launched a national programme last week to build capabilities for AI. Through this move, the government plans to concentrate in the areas of healthcare, finance, and city management solutions. The programme will receive a SGD150 million investment to achieve
It has generally been an enormously taxing task to build blockchain applications in the past, as the process requires developers with profound background in coding, mathematics, cryptography, as well as other important resources. But today, technology has furnished developers with the tools to create applications, previously considered unimaginable. Applications for
Recently, BOE Technology Group, China’s biggest provider of display panel technology announced its plan to aggressively expand, and capture the Indian markets in areas of TVs, mobile phones, and Internet of Things (IoT). The TV and mobile consumer markets, coupled with IoT are growing at a tremendous rate within the
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