Predictive analytics

Policymakers need to update banking regulations to minimize the risks posed by technology companies entering financial services, a well-known policy analyst says in a new paper.

Data scientists from NASA, Google and hundreds of other places are working for financial firms in their spare time. Is this a good idea?

Few firms have been able to blend predictive virtual assistants, geolocation, data analytics and other cutting-edge technology into apps like TD Bank, which has more mobile users in Canada than anyone in finance.

Reconciling accounts, predicting market turns and their effects on portfolios, and even answering client faxes (yes, faxes) can all be done better with artificial intelligence, the custody bank says. Experts describe it as a cutting-edge program.

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.