The Bottom Line

Get to the bottom of all things banking with weekly expert musings from SRM. The Bottom Line takes what we hear from financial institutions, fintechs, and industry influencers - separating the news from the noise. We offer unfiltered observations and thoughtful forecasts responding to industry developments and trends as they happen, with emphasis on how financial institutions can better serve their stakeholders.

Artificial Intelligence - Not Just for the 800-Pound Gorillas

Posted by Fabio de Sant’Anna on Nov 3, 2019 9:00:00 AM

Artificial Intelligence - Not Just for the 800-Pound Gorillas

A colleague of mine recently attended the BankAI conference in Chicago. One of the most interesting presentations, according to him, involved a Midwestern credit union sharing details of its chatbot rollout fueled by the artificial intelligence (AI) tools of a fintech partner.Download: From Artificial Intelligence to Intelligent Automation: A Playbook for Financial Institutions

What set the story apart from the pack was the credit union’s size, a shade under $300 million in assets. It’s often assumed that AI projects are the domain of the largest financial institutions; certainly, their efforts gain the most attention. Bank of America continues to tout the mass adoption of its Erica virtual assistant, and Wells Fargo, Capital One and JPMorgan Chase have spearheaded high profile AI rollouts as well.

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Topics: AI, Artificial Intelligence, Robotic Process Automation

Budgeting & Vendor Management Amid Election Year Chaos

Posted by Patrick Goodwin, President on Oct 16, 2019 12:30:00 PM

Budgeting & Vendor Management Amid Election Year Chaos

Buckle up: we’re in for a ride. Regardless of your political persuasion, all signs point to an extended stretch of market volatility as we head into the 2020 election cycle, which by many measures is already hitting its stride. The 2020 budget season is playing out against this backdrop, with budget-setters up against even greater uncertainty than usual. The question looms, as the political barrage reaches new heights in 2020how can banks and credit unions remain flexible to the economic variables? 

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Topics: Vendor Contract Management, Vendor management, AI, Artificial Intelligence

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