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Banking / white paper
Dr Uma M Somayajula
Domain Consultant, Risk Management Practice, Banking, Financial Services, & Insurance Unit, TCS
Sowmyanarayanan VJ
Consulting Partner, Risk Management Practice, Banking, Financial Services, & Insurance Unit, TCS
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The vital triad – horizon scanning, analytics, and machine learning – at work
Banks have evolved into multifaceted organizations with diversified operations, complex products, multiple channels, and a diverse workforce, leading to vulnerabilities in the people-process-technology triad. These vulnerabilities are increasingly being exploited by malicious actors. To counter fraud effectively, banks must develop an intelligent, data driven strategy that leverages advanced technologies such as analytics and machine learning. Such a future-proof strategy will help banks to adopt disruptive technology innovations without apprehensions about fraud emanating from their systems. Banks must therefore adopt a multipronged approach spanning:
Driving growth in banking and financial services with digital receipts
Applying GenAI to ‘ISO-rich’ data to disrupt payments
Why commercial banks must prioritize CX improvement
The critical role of the Chief Risk Officer in Mergers and Acquisitions