Separate apps for banking and PFM are too much for most customers to handle, so the Canadian bank is adding automated advice and savings to mobile banking — and it’s relying on artificial intelligence and predictive analytics to make it all work.
More and more banks are using advanced geographic information systems to help make decisions around branch consolidation, lending in low-income communities, monitoring fraud and even deploying talent.
As artificial intelligence makes analytics better, the question of who gets to benefit from the intel will come up more. Fintech startup wallet.ai believes customers should be told of propensities that might be hurting them.
