Artificial Intelligence in Banking- Series 1
Despite the nascent stage of Artificial Intelligence (AI) adoption, its benefits are already being realised at many large banks across the globe. According to Tata Consultancy Services (TCS) research, “banking and FS executive found that investment in AI helped them reduce production costs by 13%. Additionally, executives reported a 17% average revenue increase in the area of their AI initiatives”. At one European bank, a shift from statistical regression to machine learning for credit analysis increased mortgaged collections by over 30%
Applying blockchain in securitization
After months of analysis and consultations with various industry constituents involved in different stages of the securitization lifecycle, there is little doubt that blockchain and smart contracts (a key technology that enables many blockchain applications) hold such promise.
Tax Alert | Migration of physical CCIs due latest 28 November, 2016
Some deposit money banks have recently sent out notices to customers to submit active (i.e. unutilized/partly utilized) physical certificates of capital importation (CCIs) for data capturing and migration to the new electronic format (e-CCI). This notice is in line with the recent activities of Central Bank of Nigeria (CBN) geared towards automating the process for issuance and administration of CCIs.