SET Training - Banking and Fintech

Credit card usage has become a prevalent financial tool for many individuals and businesses worldwide. A credit card allows one to borrow money from a financial institution, and instead of making cash payments, the amount owed is paid off in the future.  With virtually every major retailer accepting credit cards, usage has become more commonplace, and some benefits include convenience, rewards, and reliable financial protection.

Our Report:  The   US, UK, and 16 other global partners have released new guidelines to “make AI safe by design” using third-party testing and a bug bounty program.   Key Points: The UK, the US, along with international partners from  16 other countries (including Germany, Italy, Israel, Singapore & more), have signed a 20-page document  to create AI systems that are “safe by design” The guidelines build upon the U.S. government's ongoing efforts to ensure  new tools are tested before public release, addressing societal harms such as bias, discrimination, privacy concerns— and setting up clear ways for consumers to identify AI-generated material. The commitments require companies to  facilitate third-party discovery and reporting of vulnerabilities in their AI systems through a bug bounty system  (get ready devs, it’s time to make a tonne of cash). On the matter, the  US cybersecurity agency said:   "The approach prioritizes ownershi...

The complex webs of technologies that underlie many banks' digital offerings can amplify usability accessibility challenges for your disabled customers.  The use of AI tools can cut through that tangle to improve both customer experience and loyalty. Find out more HERE .

As the use of ChatGPT and other large language models become more prevalent, there will be trouble. Forrester says eight neobanks and two large traditional banks will run afoul of regulators and consumers in 2024. Tightening up controls and compliance with those controls is a key starting point. Read more HERE .

Banks are deploying digital products and services at ever faster rates. Implementing any new technology can be a challenge if frontline staff isn't properly trained. The deployment of AI in particular can expose glaring gaps in skills and experience. If banks are going to succeed as digital tools proliferate, they need to identify and address employees' needs quickly and effectively. Check it out HERE .

After a whirlwind week for OpenAI and Sam Altman, Bloomberg's Ed Ludlow and Mandeep Singh of Bloomberg Intelligence talk about what could happen next.

Binance skirted regulation to become the world’s largest cryptocurrency exchange by trading volume. Now, the company has pleaded guilty in the U.S. and agreed to pay $4.3 billion in fines. Here’s how the same strategy behind the company’s rise brought it crashing down.