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How Artificial Intelligence (AI) Is Changing Banking

Smart Data Collective

There are tons of applications for artificial intelligence available, especially when it comes to banking. The banking industry has been able to utilize a variety of AI technology to streamline processes, enhance security, and improve the customer experience. AI may also be reshaping how banking is done in the not so distant future. “In

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Here’s How AI-backed Insurance Plans Make Your Life Easy

Smart Data Collective

These new-age AI-backed insurance plans are making the consumers’ lives simpler and better, which has resulted in a stronger competitive advantage for insurance companies using it. What’s better than having all your essential finance-related documents and details in your hand at all times? Flexibility When Choosing Plans.

Planning 336
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Gathering Data Can Be Vital for Your Personalized Financial Plan

Smart Data Collective

In simple terms, gathering data is a process where you collect all your personal documents and financial statements to serve as the foundation for a personalized financial plan. Necessary Financial Documentation Before Using Data Analytics. So, you’ll want to gather any of the documents listed below that apply to you.

Planning 259
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Bank Statement Extraction: Software, Benefits, and Use Cases

Astera

Bank statements contain useful financial information that can be turned into important insights. With the era of manual bank statement extraction firmly in the past, intelligent document processing (IDP) and artificial intelligence (AI) offer a better way of processing bank statements and obtaining the valuable data they contain.

Banking 52
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Importance of Licenses for Data-Driven Fintech Companies Offering AISP

Smart Data Collective

Account Information Service Provider (AISP) is authorized to send and receive account data from banks and other financial institutions. Not only Fin-Techs can apply for AISP license , in some cases banks, insurance companies and other organizations use it for several reasons. The AISP license is not easy to get.

Banking 317
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Why Your Business Needs a Data Backup Strategy

Smart Data Collective

The Pros of Possessing a Backup Plan. However, intruders’ ill intentions are not the primary reason businesses are robbed of their vital files and electronic documentation. Considering all the facts mentioned above, you’ll hardly doubt the importance of having a backup plan.

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Here’s How Blockchain Can Change Bancassurance

Smart Data Collective

move within the insurance and banking chain through documents and forms. The higher the number of hands these documents are passed through, along with the number of alterations made, the higher the odds of human-related error. Say, a banking agent tries to change information regarding a customer. Unlike the U.S.,