Affiliation:
1. Department of Commerce, St. Joseph’s College (Autonomous), Tiruchirappalli , India
2. Department of Commerce & Management, St. Joseph’s College of Commerce (Autonomous), Bangalore , India
Abstract
Abstract
Banks are automating their processes, migrating their infrastructure and applications to the cloud to create a seamless customer journey. Transformative technology has enabled banks and financial institutions to automate their operations based on advanced data-driven. Banks are adopting AI based anti-money-laundering, anti-fraud, compliance, credit-underwriting and smart contracts technology in their operations. These applications have been embraced by the investment banks as regulatory framework are failing to combat conventional way in combating against money laundering. Artificial Intelligence will focus on cognitive application in functional areas of business along with investment and compliance sectors of financial services industry. Adopting AI based anti-money-laundering, anti-fraud, compliance, credit-underwriting and smart contracts technology in their operations.
Publisher
Editura Universitatii Alexandru Ioan Cuza din Iasi
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