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.
5. Erdélyi O. J. & Goldsmith J. (2018). Regulating Artificial Intelligence Proposal for a Global Solution. Paper presented at the AAAI/ACM Conference on Artificial Intelligence Ethics and Society.
6. Lagarde C. J. I. T. Governance Globalization. (2018). Central Banking and Fintech: A Brave New World. 12(1-2) 4-8.
7. Lee K. C. & Chung N. (2009). Understanding factors affecting trust in and satisfaction with mobile banking in Korea: A modified DeLone and McLean’s model perspective. Interacting with Computers 21(5-6) 385-392. doi:
7. Lee, K. C., & Chung, N. (2009). Understanding factors affecting trust in and satisfaction with mobile banking in Korea: A modified DeLone and McLean’s model perspective. Interacting with Computers, 21(5-6), 385-392. doi:10.1016/j.intcom.2009.06.004)| false
8. Gartner (2017). “Forecast: Enterprise IT Spending for the Banking and Securities Market Worldwide 2015-2021 3Q17.
9. Rob Galaski and R. Jesse McWaters. (2017) “Beyond Fintech: A Pragmatic Assessment of Disruptive Potential in Financial Services” World Economic Forum and Deloitte.
10. Chanyaporn Chanjaroen (2017). “Ex-Citi CEO Says 30% of Bank Jobs at Risk from Technology” Bloomberg.
11. Irving Wladawsky-Berger. (2017). “As Automation Anxiety Grows Remember We’ve Been Here Before” CIO Journal Wall Street Journal.
12. Val Srinivas. (2017). “The Future of Automation in the Banking Industry: What Can We Learn From ATMs” Deloitte Quick Look Blog.
13. Laurent Chemla. (2017). Newspaper article. The top five infleuncing trends in investment banking in 2017.Available:http://www.bobsguide.com/guide/news/2017/Feb/10/the-top-fiveinfluencing- trends-in-investment-banking-in-2017/. [Accessed on 27.09.2018].