Digital banking services should solve consumers' problems and offer them advice, and they must rely on artificial intelligence and other cutting-edge technology, bankers from TD, RBC and Bank of the West said.
While banks are in various stages of development when it comes to distributed ledger technology, the industry is farther along than many would assume, big-bank technology executives say.
Digital banking executives such as B of A's Michelle Moore love apps like those offered by Pottery Barn and Starbucks for their ability to connect the physical and digital worlds.
Dan O'Malley, who until very recently ran the fintech incubator at Eastern Bank (and before that was at Capital One), now has a startup called Numerated Growth Technologies and software that he says can process loans in five minutes.
To teach artificial intelligence to responsibly execute human goals, there’s a need to build bridges between human thought and language computers can understand, Stephen Wolfram, founder and CEO of Wolfram Research, explains.
Mobile remote deposit capture is said to be just the first of many tech patents the company will seek to enforce. That could cost banks that use its technologies a lot of money.
