PAYMENTS
62 customers will no longer be a differentiator , and that customers will stay with a bank , not because it is difficult to walk away , but because the personalised benefits are better than any other .
In KPMG ’ s roundtable , Tuteja recognised that AI will power the new age of financial services , but questioned how to make the technology secur when legacy programming technology is not applicable and AI is becoming increasingly complex . Bots were also discussed . Specifically that , while they are designed to interact with
the customer and make decisions based on ‘ question and answer ’ type algorithms , the process for how they manage that customer interaction must be seamless – best practice being a balance between the robot and the physical , for example . It was also stressed that security and privacy is embedded into AI and bot applications from day one , and that all financial institutions must demonstrate AI integrity and robustness in order to minimise the security threat . There may even be , it was argued , a case
MAY 2020