AI Challenges in Finance:
- 🤥 Misleading advice
- 🔍 Incorrect risk assessments
- 🔒 Sensitive information
- 🚫 Hallucination mitigation (solved by Retrieval Augmented Generation - RAG)
- 📊 Data quality, relevance, and accuracy
AI in Non-Card Payments:
- 📚 Historic "stock" of transaction records
- 🌊 "Flow" in the form of live data
Cash Flow Analysis:
- 🔮 Forecasting: real-time insights into cash position
- 💰 Working capital optimization: liquidity management, recommendations to corporate treasurers, value-adding
- 🔍 Payment processing optimization: automate workflow
- 🚨 Risk and fraud: transaction screening, avoid manual intervention
Data-Led Value-Added Services:
- 🧠 Customized services and solutions for corporate treasurers and senior finance executives
- 🌍 Tailored offerings based on business verticals and regions
Real-Time Data Visibility and Forecasts:
- 🔍 Offer real-time visibility into cash positions
- 📊 Provide cross-institution dashboards for comprehensive data insights
Value-Adding Data Insights:
- 🔮 Deliver scenario-based forecasting capabilities
- 🤖 Offer recommended actions based on data analysis
- 💯 Generate risk scores on future positions to aid decision-making
Improved Payment Services:
- 🤖 Automate payment tracking and reconciliation processes
- ⚡️ Enhance efficiency and accuracy of payment-related services
Central Dashboard:
- 💻 Real-time consolidated data from multiple banks into a single dashboard
- 💰 Real-time cash forecasting and balances
- 🛡️ Fraud protection
- 📊 Custom reporting for internal use
- 💳 Receivables reconciliation
- 📄 SO20022 compliance
- 🔍 Data analytics (risk scores on positions)
Central Dashboard with Map Data:
- 🌍 Latitude and longitude coordinates
- 📍 Text with names of geographical areas (countries, states)
- 🗺️ Choropleth: predefined shapes for geographical areas
- 📍 Scatter: data markers to indicate data points
- 🔥 Heatmap: color intensity of data points
More MongoDB Advantages:
- 🔍 Binary JSON format (BSON): faster parsing, searched and indexed
- ⚡️ Increasing performance for ad-hoc queries
- 🔍 Significant difference at scale for field queries, range queries, regular expression searches
- 💾 Point-in-time recovery: adopt MongoDB's operation log (oplog), continuous backup, consistent snapshots
Editor
Danny Chan, specialty of FSI and Serverless
Kenny Chan, specialty of FSI and Machine Learning