AI In Banking
Latest news, explainers and analysis on AI In Banking. Tracking 4 stories on Arth Vani.
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Latest on AI In Banking
Finance Ministry Explores AI for Loan Collection, Seeks Banks' Inputs
The Union Finance Ministry is actively assessing the adoption of Artificial Intelligence (AI) tools by Indian banks for loan collection processes. As part of this review, the Ministry is seeking detailed inputs from various banks to understand their current usage and future potential.
Global Banking Giants Barclays, Deutsche Bank Adopt Ant International AI Model
Major global banks, including Barclays and Deutsche Bank, are now utilising an Artificial Intelligence (AI) model from Ant International. This new AI technology aims to enhance their capabilities in predicting cash flows and managing foreign currency funds more efficiently. The adoption highlights a growing trend of financial institutions leveraging advanced AI for critical operational functions.
AI & Automation Drive Top Private Banks to Cut 10,000+ Jobs in FY26
India's top 10 private banks are set to reduce their workforce by over 10,000 jobs in the fiscal year 2025-26 (FY26). This significant move is primarily driven by the accelerated deployment of Artificial Intelligence (AI) and automation technologies, reshaping the employment landscape within the banking sector.
Capital One Open Sources AI Tool 'VulnHunter' to Enhance Banking Cybersecurity
Capital One, a prominent US bank, has open-sourced 'VulnHunter', an AI-powered security tool designed to identify vulnerabilities in software code by simulating hacker tactics. This move allows other financial institutions globally, including those in India, to adopt this advanced technology, potentially bolstering the security of digital banking and customer data.
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