Posts

Digital Tax and Banking Superservices as Tool for Domestic Resource Mobilization.

Image
The Side Event will consider digital tax and banking «superservices» (integrated platforms for business registration, payments, lending and tax reporting ) as a transformative tool for the transition of SMEs from the informal economy , Tax Revenue growth and economic inclusivity . By leveraging these innovative instruments, countries can mobilize domestic capital and accelerate progress towards Sustainable Development Goals 9 (Industry, Innovation and Infrastructure) and 17 (Partnerships for the Goals). Building on specific successes, the event will convene a high-level panel of policymakers and international experts to deliberate scaling strategies for these digital solutions . The outcome will be a set of actionable recommendations designed to assist developing countries in boosting budget revenues, expanding access to financial services , and achieving greater economic self-reliance and resilience, Watch Digital Tax and Banking Superservices as Tool for Domestic Resource Mobi...
Post a Comment
Read more

AI is revolutionizing the banking industry, creating new opportunities for innovation, efficiency, and customer experience.

Image
Artificial Intelligence (AI) has disrupted most industries, and the banking and financial services sector is no exception. Today, AI, Analytics and Automation impact all bank processes, from data collection, cybersecurity, wealth management, lending, and regulatory compliance to CRM.  AI helps banks to process large volumes of data, evaluate market sentiments and predict the latest market trends, currencies, and stocks. In this article, we explore the all-invasive effects of AI in banking from application areas, use cases and advantages. Application Areas of AI in Banking Here are some typical applications of AI in banking and financial services:Data Collection and Analysis - AI-powered algorithms can automate data collection from various sources such as social media, news articles, and financial reports. This results in faster and more accurate data collection, eliminating the need for manual data entry, reducing errors, and improving data Lending & Credit Decisioning - An AI-base...
Post a Comment
Read more

2025 Report on AI Trends in Fraud and Financial Crime Prevention.

Image
Financial institutions worldwide are adopting AI at a rapid pace. AI is now table stakes, meaning banks and financial institutions […]  Learn More Report : 2025 AI Trends in Fraud and Financial Crime Prevention
Post a Comment
Read more

Reducing operational costs and risks.

Image
One of the most significant benefits of AI in banking and finance is its ability to reduce operational costs and risks. In retail banking, there are many human-centric processes that are time-consuming and prone to errors. Minimizing the risk of human error is crucial as it can have serious consequences in the highly regulated banking sector. By leveraging intelligent automation tools , retail banks can eliminate many of these manual tasks, such as customer data entry from contracts, forms, and other sources. Also, by automating fraud detection and anti-money laundering (AML) , they can make sure to meet regulatory requirements while freeing up resources to focus on core business activities. According to a report by ACFE in 2024, businesses lose $5 trillion to fraud each year.1 That’s 5 percent of organizations’ revenue and the painful disappearance of wealth for everyday consumers. Let this statistic serve as a wake-up call for businesses and banks worldwide: getting proactive a...
Post a Comment
Read more

AI is allowing banks to measure the non-financial impact of their portofolio.

Image
  The environmental impact of banking includes both direct, operational effects (like energy and waste from branches) and significant indirect effects through financing, where banks fund fossil fuels and environmentally damaging industries. While banks have direct impacts, their most significant environmental influence comes from their role as financial intermediaries that can direct capital towards or away from environmentally harmful projects, and from the potential for climate-related physical risks to their assets and loan portfolios. If we are serious about keeping 1.5 alive , the banking sector has a central role to play in the urgent action needed to combat climate change . Regulators, investors, and consumers are putting banks under increasing pressure to reduce their carbon emissions and become more transparent in the environmental impact of their financial services. Banks are increasingly becoming subject to stringent regulatory changes. Financial players failing to tak...
Post a Comment
Location: 405 E 45th St, New York, NY 10017, USA
Read more

From Text to Quantified Insights: A Large-Scale LLM Analysis of Central Bank Communication.

Image
  Computer vision is an artificial intelligence field that trains computers to "see" and interpret the visual world from images and videos. It is used for a wide range of applications, including object recognition and classification, facial recognition for security, quality control in manufacturing, medical image analysis, and sports analytics. This field works by using deep learning models to process and understand visual data to identify patterns, classify objects, and even react to what they "see". This paper introduces a classification framework to analyze central bank communications across four dimensions: topic, communication stance, sentiment, and audience. Using a fine-tuned large language model trained on central bank documents, we classify individual sentences to transform policy language into systematic and quantifiable metrics on how central banks convey information to diverse stakeholders. Applied to a multilingual dataset of 74,882 documents from 169 c...
Post a Comment
Read more

The banking sector’s action to address pollution will be essential in shaping a sustainable path forward.

Image
  Humanity is facing a triple planetary crisis of climate change, biodiversity loss and pollution. The causes of these crises overlap and exacerbate one another, creating a complex web of challenges that must be addressed in a coordinated manner. Failure to do so threatens the social, economic and environmental viability of all human endeavour. The degradation and collapse of ecosystems caused by pollution of air, soils, fresh water and oceans imposes a substantial cost on society, hinders the achievement of many Sustainable Development Goals (SDG) targets and has serious economic consequences. Addressing pollution requires a comprehensive and coordinated response, with financial institutions playing a key role in protecting our environment and ensuring a sustainable future. Banks and other financial institutions provide the capital that supports businesses and industries, including those that contribute to pollution. At the same time, banks and other financial institutions may als...
Post a Comment
Location: 405 E 45th St, New York, NY 10017, USA
Read more