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Expert Insight: Should Banks Urge Caution over “Rise of Robots”?
Ben Musgrave, Principal Consultant, Data & Analytics at Synechron, said:
“As the Financial Stability Board’s Artificial Intelligence report outlines, Artificial Intelligence (AI) has the power to transform the financial services industry.
“The data science and cognitive learning elements that AI possesses has the potential to help solve complex business processes, but this also requires the necessary human expertise to model the algorithms and analyse the outputs from the models.
“Technology-dependence is always going to be an issue where you don’t have a clear understanding of what the technology is, how it works and what it is meant to do – but that’s a situation that’s prevalent in many financial institutions today, and has nothing to do with AI.
“If banks can take a partnership approach with technology vendors to create custom-built solutions, with human experts closely involved throughout, the risks associated with implementing these technologies is significantly reduced.
“AI will be harnessed to improve customer service and increase customer volumes. Financial institutions need to think about AI as a chance to transform their technology strategy, to ensure they are future-proofed and able to take advantage of the new wave of fintech opportunities in a safe, compliant way.”
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BFSI Philippines Summit 2026 to Spotlight AI-Driven Transformation in Financial Services
The BFSI Philippines Summit 2026 is set to gather the country’s top banking, financial services, and insurance (BFSI) leaders on April 16, 2026 at the Novotel Manila Araneta City. Building on the decade-long success of the Digital Banking Asia series, the summit will convene over 300 C-level executives, decision-makers, regulators, and technology innovators to chart the next wave of AI-powered financial transformation.
Nationwide Launches Teacher Accreditation to Boost Financial Education in Schools
Nationwide is launching a national accreditation for primary school teachers that aims to boost confidence in teaching financial education
Ant International Becomes Official Sponsor of The Argentine National Football Team
Ant International announced a partnership with the Argentine Football Association (AFA), becoming an Official Sponsor of the Argentine National Football Team
DNERO Launches Borderless Neobank Powering the Rise of the Latino Economy
DNERO, a new borderless Neobank, officially launches March 24 to address this gap with a unified digital platform
CV5 Capital Builds the Next Generation of Cayman Fund Infrastructure for Digital Assets
CV5 Capital is positioning itself as the infrastructure layer for the next generation of digital asset fund managers
Scalable Capital Launches Overnight Savings Account with 2.50% Interest
Scalable Capital continues to grow its savings offering: starting today, both new and existing clients can benefit from 2.50% interest p.a. (variable) on the new Scalable Overnight account. Whether saving for a rainy day or with a specific goal in mind, Scalable Capital clients can now invest their money with even more flexibility and security. The Overnight account benefits from no minimum deposit, monthly interest payments, and withdrawals at any time. Opening an account is fast, digital and free of charge.
Finom Launches Interest Account, Offers European Businesses Daily Returns On Idle Cash
Finom, the integrated financial management platform for freelancers and SMEs in Europe, launched the Interest Account: an embedded, fully MiFID-regulated feature that lets business customers earn daily returns on EUR balances.
BFSI Philippines Summit 2026 to Spotlight AI-Driven Transformation in Financial Services
The BFSI Philippines Summit 2026 is set to gather the country’s top banking, financial services, and insurance (BFSI) leaders on April 16, 2026 at the Novotel Manila Araneta City. Building on the decade-long success of the Digital Banking Asia series, the summit will convene over 300 C-level executives, decision-makers, regulators, and technology innovators to chart the next wave of AI-powered financial transformation.
AutoRek & Microsoft: Why Reconciliation Is Becoming Strategic
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EXCLUSIVE: “Freedom Calling” – Timur Turlov, Freedom Holding Corp in ‘The Paytech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Nationwide Launches Teacher Accreditation to Boost Financial Education in Schools
Nationwide is launching a national accreditation for primary school teachers that aims to boost confidence in teaching financial education
Ant International Becomes Official Sponsor of The Argentine National Football Team
Ant International announced a partnership with the Argentine Football Association (AFA), becoming an Official Sponsor of the Argentine National Football Team
DNERO Launches Borderless Neobank Powering the Rise of the Latino Economy
DNERO, a new borderless Neobank, officially launches March 24 to address this gap with a unified digital platform
CV5 Capital Builds the Next Generation of Cayman Fund Infrastructure for Digital Assets
CV5 Capital is positioning itself as the infrastructure layer for the next generation of digital asset fund managers