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Applying AI Technology to Reduce AML Risk for Global Financial Institutions

QuantaVerse published a new paper that examines how financial institutions can apply AI and machine learning technologies into their anti-money laundering (AML) ecosystems. For financial institutions, the time is now to deploy AI into their AML ecosystems. AI and machine learning hold the key to reducing risk related to financial crimes, addressing regulation, driving out operational cost through improved efficiency and, most importantly, effectively preventing criminals and terrorists from using the banking industry for their evil agendas.

AI Poised to Revolutionize Insurance Industry

According to a recent report from Accenture, three-quarters of surveyed insurance executives believe that artificial intelligence will transform the insurance industry within three years. Michael Macauley, CEO of Quadrant Information Services, expects urgency and planning to follow quickly as the potential benefits of AI become more apparent.

AI Enables Banks to Identify and Prevent Money Laundering While Surpassing Regulatory Demands

In this special guest feature, David McLaughlin, CEO and Founder of QuantaVerse, discusses how advancements in data science, including artificial intelligence (AI), machine learning and big data, promise to stifle money laundering and change outcomes for victims around the globe. Financial institutions have begun working smarter through the use of AI and machine learning to help banks dramatically improve the efficiency and effectiveness of money laundering investigations.

Logical Glue Develops Machine Learning White Box Insights for Financial Services and Insurance Markets

Logical Glue, the cloud-based software company that helps the financial services and insurance industry reduce risk and increase profits with insightful and faster data-driven decisions, has closed a major private investment from UK entrepreneur Tom Singh. The investment will allow Logical Glue to expand its cloud-based machine learning and statistical modelling platform, further developing its patented “white box” decision-making engine and data visualization tools.

What’s In It for Me? What Banks Gain By Enabling Customers To Get Value From Their Data

In this special guest feature, Jeff Brown, Vice President in the banking and financial services practice at Genpact, discusses that in order to compete in a digital-first world, financial institutions must use the data they have to create better customer experiences. Any customer will tell you the bank’s effort here is lacking, but the conversation now happening is how banks can enable customers to monetize their own data for the customer’s benefit, without stepping on privacy laws.

TickSmith Releases a Python Tool for the New Generation of Financial Data Scientists

TickSmith, a leader in Big Data applications, released an open-source Python API feature to obtain data from its flagship TickVault big data platform.  Based on Hadoop technology, TickVault processes, stores, and analyzes massive amounts of capital market data. The addition of the Python API  toolkit to TickVault provides data scientists fine-grained access to historical exchange […]

How Data Science Can Save the Traditional Banking Industry

In today’s technologically advancing world, traditional banking groups are being seriously challenged. As Google, Amazon, Facebook, Apple offer more and more banking services and financial technology startups gain traction, the banking industry must take a look at how it can stay competitive. To do this, banking needs to rely on data science.

Driving High Frequency Trading and Compliance with In Memory Computing

In the video presentation below, courtesy of our friends over at GridGain, Eric Karpman shares how some of the world’s largest financial institutions use in-memory computing to address the challenges of high frequency trading.

Envestnet | Yodlee Augments Financial Transaction Data Through a Streamlined DaaS Model

Envestnet | Yodlee, a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services, announced the newest advancement to the Envestnet | Yodlee Financial Data Platform, Transaction Data Enrichment.

Adding Security and More to Intel® Enterprise Edition for Lustre* Software version 3.0

Intel Enterprise Edition for Lustre* Software has taken a leap toward greater enterprise capabilities and improved features for HPC with release of version 3.0. This latest version includes new security enhancements, dynamic LNET configuration support, ZFS snapshots, and other features asked for by the HPC community inside and outside the enterprise. Additionally, it adds the Intel Omni-Path Architecture drivers.