Davies wealth management and private banking expert Robert Roome is a co-author of this new in-depth study, produced and published in association with Jersey Finance.
Many of the technology innovations seen in financial services today do one (or more) of three things: they mitigate risk, they create greater efficiencies and they reduce costs. This is equally true when it comes to AI.
In this report, we look at the quantitative elements of operational efficiencies and regulatory opportunities for financial services firms by exploring the potential for AI in back and middle-office functions. Briefly it covers:
- the potential cost savings from AI applications and comparisons between front, middle and back offices
- a comparison of the maturity of AI applications across the financial services industry
- how Intelligent Automation is streamlining financial services and how we can start to identify some of the ideal processes to automate in compliance and fraud detection, reconciliations and validations, and data entry and capture across multiple systems
- how AI can play a part in forward-thinking regtech solutions and offer vital protection against cybercrime
- examples of AI being used by financial services firms in Jersey
Read the full report here.
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