TECHNOLOGY PLATFORMS
Concurrently , the integration of IoT is playing a role in enhancing security , convenience and efficiency in banking by enabling data collection , analysis and action without human intervention .
However , amidst these innovations , traditional banks within the sector face the challenge of adaptability to remain relevant . Staying competitive in a rapidly changing landscape requires a strategic approach , incorporating Gen AI and other disruptive technologies while ensuring a seamless and customer-centric experience . The integration of Gen AI in fintech platforms represents a pivotal moment in reshaping the future of financial services , focusing on efficiency , customer experience and adaptability to evolving industry dynamics .
Therese Stowell Gen AI is a must-have ; platforms that don ’ t leverage it will have difficulty competing .
It may come as no surprise that fraud is reaching unprecedented levels as bad actors are leveraging Gen AI to conduct fraud . Fraudsters are using techniques such as digitally-altered documents and creating deepfakes to commit identity fraud . Forwardthinking businesses are fighting fire with fire by using Gen AI to better detect fraud and protect their end-users , partners and themselves .
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