AI-Powered Tool to Improve Compliance & Sanctions Screening Process in Banking
In 2023, U.S. banks faced over $33 million in fines for sanctions violations. Financial institutions encounter challenges in sanctions screening for various reasons, including outdated sanction lists and backlogged governmental reports. Recognizing these challenges, Sprinterra has developed a prototype of an AI-powered sanctions screening tool, the AI WatchList Chat, designed to improve and streamline this crucial […]
Top Banking & Financial Software Development Companies
In 1918, the financial landscape was forever altered with the introduction of the first electronic fund transfer. This marked the beginning of an era where financial institutions began to evolve hand-in-hand with the burgeoning fields of communication and the internet. This union of technology and finance promised enhanced efficiency, reach, and security. Fast forward to […]
The Digital Revolution in Banking: 8 Key Drivers of Change
The banking industry is undergoing a massive digital transformation. From customer experiences to back-end processes, technology is disrupting how banks operate and deliver value. What are the key factors propelling this digital revolution in the banking sector? Changing Customer Expectations Today’s customers expect seamless, unified digital banking services accessible whenever and wherever they want. They […]
The Future of Money: The Latest Trends in Banking Software Development
The digital era has brought forth a wave of innovation that has fundamentally transformed various sectors, and banking is no exception. Banking Software Development Companies are at the forefront of this revolution, leveraging cutting-edge technologies to redefine how financial services function. In this blog, we explore some of the latest trends shaping the banking industry, […]
AI: Unleashing the Power or Summoning the Apocalypse?
Artificial Intelligence Threats and Promises Artificial Intelligence (AI) is a double-edged sword that has sparked passionate debates among technologists and futurists. It teeters on the fine line between utopian dreams and dystopian nightmares. While the so-called ‘doomerism’ among AI aficionados is not entirely unwarranted, the potential benefits are equally groundbreaking. The narrative of machines seeking […]
Top 5 Banking Apps of 2023: Did your bank make the cut?
Did you know that over 70% of banking customers use banking apps? That’s a lot of people who are relying on their phones to manage their finances. And with so many different banking apps on the market, it can be tough to know which one is right for you. According to a recent survey, a […]
AI Can’t Survive Without Humans: The Inside Story of How AI Is Developed
Artificial intelligence (AI) is a rapidly evolving field that is revolutionizing the way we live and work. However, few people are aware that AI’s progress is highly dependent on human collaboration. Behind every AI system is a dedicated developer team responsible for its creation, maintenance, and enhancement. They are the ones constantly pushing the boundaries […]
Digital Transformation: Invest in the Latest Tech To Disrupt Banking and Increase Revenue
Imagine a banking experience that’s so seamless and intuitive that it feels almost effortless. A digital realm where you can easily navigate complex financial processes and access the tools you need to manage your finances faster and easier. This is the kind of experience that customers crave, and banks that can provide it are […]
AI and Cloud Computing Will Change the Financial Industry in 2023. Here is The Proof
The financial industry is constantly evolving, and with the rise of artificial intelligence (AI) and cloud computing, the next five years will bring even more changes to how we do business. In 2023, the financial industry will be transformed by these cutting-edge technologies. #1 Artificial Intelligence and Machine Learning Artificial intelligence (AI) and machine learning […]
Benefits of Using Artificial Intelligence (AI) in Healthcare
The popular view of Artificial Intelligence (AI) is that it’s an up and coming (but somewhat scary) technology that will impact people and healthcare systems everywhere. For the most part, the view is accurate, but there are more reasons to be optimistic than anxious about the improvements it brings. Few can argue that the advancement […]