Correspondent Blog

At present, we track 150+ AI agent platforms that households and business can use right now to manage banking products. While the public is currently focused on booking travel, restaurants and events, soon they will be using agents to optimize their banking. These agents can now compare different banking products, to include researching fees, and…

Many banks are doing an excellent job at embracing generative AI (Gen AI). However, not all have a specific Gen AI strategy, and they should make their journey more efficient. A quality Gen AI strategy aligns an organization’s objectives, its use cases, and the delivery mechanism and metrics that measure business value. In this article,…

In Part 1 (HERE), we explained the why and how to use generative AI (Gen AI) for bank strategic planning. We highlighted how Gen AI changes the planning process and provided sample prompts.  In this article, we cover the remaining five steps and detail how to build a Monte Carlo model to test your initiatives….

The spectacle that is Money 20/20 (Money 2020 or M2020) went down last week, and it did not disappoint. Money 2020 is likely the conference with the lowest conference-attendee-to-session-attendee ratio in the industry. While the sessions were interesting,  the heart of the conference is all about sales, partnerships, and deal-making. In this respect, 2024 was…

While technology has always been important in banking, it has yet to drive the essential functions of banking. Up to this point, if you could speak to a human, banking was easier. In the last year, this has started to change. With the rise of data, generative AI, personalization, instant payments, embedded banking, and traditional…

Money 20/20 (M2020) is the only conference in the industry where it is both possible and expected to pull off two breakfasts, two lunches, three cocktail parties, and two dinners PER DAY. It’s a whirlwind of education, deal-making, eating, and hugging. In this article, we detail our thoughts and the trends we saw last week…

This month, we rolled out “Tate,” our generative AI chatbot driven by ChatGPT that was designed to increase the productivity of our employees and allow us to become familiar with large language models. It’s been two weeks since its introduction, and we have already learned more than we bargained for. As one of the first…

Last week, we convened a group of 30 bankers to train on ChatGPT and ideate around new banking products related to the enterprise version. While we covered the 15 ways we use ChatGPT HERE to enable banking productivity, this class focused on productizing the application for banking needs. Since our last article, several companies, most…

No doubt you have heard other bankers talking about ChatGPT. This AI-powered digital assistant, technically called “generative AI,” has taken banking, and society, by storm. In three months, it has become the primary tool of many bankers, helping make banks more efficient across the organization. Our innovation working group, called Spark, has been playing with…

The most significant problem with bank innovation is that bankers see or hear about a sexy piece of technology at a conference or at another bank and then acquire it. The new piece of technology ends up solving a known problem but, in the process, creates more problems, and risks, than it solves. It’s called…

In the future, banks will make money on payment products by DELAYING settlements. That vision is ironic considering financial institutions are spending billions of dollars moving payments from one to three-day settlement to real-time. However, in the next three years, many banks will have the bulk of their payments settling in real-time, and delaying payments…

The OODA Loop is a decision-making framework that we have found increasingly helpful to solve a variety of problems and give leaders a methodology for making decisions quickly. The concept was developed by Air Force Colonel John Boyd, one of the great strategists of modern times. The framework emphasizes speed and agility while looking for…