David Biesack
Oct 18, 2021

To start, financial institutions must include risk assessment and threat modeling as part of their software development lifecycle.

The banking industry is awash in giddy talk about how artificial intelligence and machine learning will shake up how business is done.

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On the surface, it looks like good news: Customers’ “primary” banks and credit unions are maintaining that role as very few consumers report that they “switched” financial institutions in 2019, according to BAI Banking Outlook research.

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Over the last decade, financial services innovation has flourished not just in volume but also in variety.

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The all-seeing crystal ball—once relegated to the realms of magic and myth—has entered the real world.

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It turns out that it’s not just the banking industry’s conservative nature and relatively slow innovation cadence that makes them a juicy target for fintechs.

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It’s a fact of banking life: Financial institutions must obey strict operating standards to prevent financial misstatements, mitigate fraud and safeguard against failure.

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Every company—from the largest tech giants to small businesses you’ve never heard of—faces the possibility of a cyber threat.

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A recent BAI Banking Outlook study identified three areas among the top business challenges and priorities for financial services leaders: acquiring new customers, enhancing the mobile channel experience and making better use of consumer data to improve products and service recommendations.

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Innovation has become practically synonymous with “new”: In-new-vation, you could say.

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Cybersecurity professionals have long used military metaphors to provide context in the perpetual battle against threat actors.

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We all know that artificial intelligence and machine learning will magically solve all your business problems, while Alexa makes you a dry martini and takes out the garbage, right? Wait a minute—lofty promises and fanciful fantasies around AI haven’t been realized broadly in the banking industry, or many others for that matter.

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Financial institutions spend billions on technology, and for good reason: Through updating new systems and automating processes, banks provide their customers with an efficient, friendly user experience.

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Innovation in financial services sometimes overlooks the pressing needs of consumers who teeter on the edge of financial peril.

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Fifty years ago this week, I hitchhiked to Bethel, New York to join 400,000 others at Woodstock.

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Here’s how AI takes the errors, sluggishness and exhausting paperwork out of the home buying equation.

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Mortgage industry leaders—perhaps you—have started to explore the best strategy to integrate a more online approach to lending operations.

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As the digital economy becomes more connected than ever, open banking has taken hold.

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With 10-plus years in a bull market, the U.

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Another recession, a bank run, regulations, movies like “Pet Sematary”: Those could all cause bankers to stay up at night.

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