Fintech Analyst Report - Issue 315

Celent: GenAI in banking becoming a reality  
GenAI has swiftly transitioned from a lofty aspiration to a tangible reality. The findings of this survey show that many innovative banks have already surpassed the initial hurdles of adoption to become part of the early majority using GenAI. 

Gartner: AI use-cases in banking 
Around 60% of banking CIOs have either deployed or are set to implement AI tools and machine learning within the year. Gartner explores some of the most valuable use cases.  

Celent: Changing state of open finance 
Spring in Europe brings major strides in open finance, with proposed frameworks like the EU’s FIDA and the UK's Smart Data Roadmap expanding access to data in financial services and beyond. The proposed changes will bring opportunities for banks to create new products, but they also need to be ready to meet new compliance and technology challenges.  

Javelin: Success story of mobile deposits 
Mobile deposit has become hugely popular in digital banking, especially among younger consumers in the US, due to its convenience. To make it a success it’s essential to raise deposit limits, provide transparent information about fund availability, and offer real-time availability for a reasonable fee.  

Datos Insights: Navigating treasury management in 2024  
Treasury management faces continued challenges and rapid tech evolution, demanding increased investment and strategic adaptability. While advancements drive positive shifts, unpredictable variables heighten planning complexity. 

Forrester: Trends in anti-money laundering in Asia Pacific 
The increase in cryptocurrency trading, proliferation of shell companies, and sophisticated trade-based money laundering are driving the need for anti-money laundering solutions in Asia Pacific.  

Gartner: KYC and AML Challenges and Opportunities for Banking CIOs 
The growth in AI-driven fraud alongside increasing KYC/AML regulations are a top challenge for banks, demanding substantial time and resources, especially when operating across multiple jurisdictions.  

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