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Introduction Conversational AI (or chatbots) are computer programs that can simulate conversation with human users. They are becoming increasingly popular in the finance industry, as they can be used to provide customer service, manage accounts, and make payments. Benefits of Conversational AI Payments There are many benefits to using conversational AI for payments. Some of… Continue reading Conversational AI in Payments: Revolutionizing Customer Transactions with Intelligent Assistance

Open banking has the potential to revolutionize the banking industry, both by improving existing services and paving the way for innovative solutions for customers. Here’s how: Improved Services: Innovative Solutions: Of course, the success of open banking hinges on overcoming potential challenges, such as data security concerns, regulatory compliance hurdles, and ensuring equitable access for… Continue reading How Open Banking Enhances Bank Services: Driving Innovation and Better Solutions for Customers

Open banking, while promising exciting opportunities, also comes with some potential risks for bank customers. Here are some of the main concerns: Data Security and Privacy: Financial Fraud and Scams: Competition and Consumer Protection: These are just some of the main risks that bank customers face with open banking. It’s important for banks and regulators… Continue reading Top Risks for Bank Customers in Open Banking: Security, Privacy, and Data Protection Challenges Explained

This is my opinion on open banking, but I could be wrong. In my previous post, I mentioned the advantages of open banking, which are mentioned by everyone in the digital world. It mainly offers more advantages to banks, 3rd Party e-commerce companies that need customer data, and less advantages to customers. It is a… Continue reading Open Banking: My Perspective on the Future of Financial Transparency and Innovation with AI Insights