The following is the second installment in a series of blogs about how deploying Red Hat OpenShift on Amazon Web Services cloud platform can transform your business. If you missed the first blog, find it here. In this blog, we’re going to explain two use cases involving a financial services client and a healthcare client. […]
Posts Tagged ‘Financial Services’
Are You Ready for the Next Wave of PPP Funding?
Many banks are finding it challenging to capture and process loan applications that have been submitted in response to the SBA’s Paycheck Protection Program (PPP). We even learned that some banks missed out on the first round of PPP because they didn’t have a portal up and running to accept borrower applications. That’s a significant […]
Should You Consider Revamping Your Insurance Claims Process?
Many of us have experienced the unfortunate situation of having to submit a claim with an insurance company, whether it’s related to our auto or home. For me, the submission process was a mixed bag. One or two instances – at most- were relatively painless. The rest of my experiences were less than desirable. Why […]
What is 5G Exactly?
Previously, I discussed what impact 5G will have on banking. The next post in this series describes what 5G is. 5G stands for fifth-generation wireless service. It’s a new way of encoding data through the air that’s more efficient than previous generations. 1G was analog cellular. 2G technologies were the first generation of digital cellular […]
Processing Paycheck Protection Program (PPP) Loan Applications With AI
In recent days, many articles have been published about how banks are challenged with processing loan applications that are submitted in response to the government’s Paycheck Protection Program (PPP), which, according to the Small Business Administration (SBA), “authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 […]
[Guide] The Impact of 5G in Banking
Digital transformation in the financial services industry is about what banks can, and should, be doing to plan and prepare for the future. And if you’re preparing for the future, it’s essential to know that 5G cell service and the smartphone of the future will have a significant impact on banks and their digital transformation […]
Data Science Virtual Expert Panel Presented by AWS
Join us and our partner Amazon Web Services (AWS) for a virtual Q&A session on Wednesday, April 15. AWS will feature one of our experts to speak on a panel about the evolution and progress being made to solve critical business problems such as customer personalization and forecasting through the use of data science. Perficient […]
Taking Advantage of AI and ML in Financial Services
Previously, I analyzed how dirty, or bad data is the enemy of machine learning. The final blog of this series describes the advantages of artificial intelligence and machine learning in financial services. Many financial services organizations have already begun to take advantage of ML technology because of its proven ability to reduce operational costs, increase […]
14+ Questions Financial Services Firms Should Ask Themselves Amid COVID-19
“Things turn out best for people who make the best out of the way things turn out.” John Wooden, NCAA Basketball Coach We are ten days into the “15 Days to Slow the Spread” coronavirus guidelines. The US is becoming the new epicenter of the pandemic. State by state, America is locking down its residents […]
How to Service Your Financial Services Consumers in the Middle of a Pandemic
When designing contact centers, some level of overhead should always be built in. It might be supporting a 120% estimated peak for incoming contacts, or the ability to rapidly add on 10–15% more representatives. But, very few organizations have built their contact centers to address the volume they see now from consumers. In this unprecedented […]
Expect the Traditional Payments Ecosystem to Change, Fast
During times of crisis, such as the current COVID-19 pandemic, how you treat your employees and your customers speak volumes about your values. The communications I have received from my financial institutions regarding the coronavirus outbreak focus on predictable messages – “we are here to help you 24/7,” “our call volumes are high, look at […]
Dirty Data in Financial Services: The Enemy of Machine Learning
Previously, I discussed machine learning and the traits that separate it from artificial intelligence. This blog analyzes how dirty, or bad data, is the enemy of machine learning. While entirely accurate and complete data is the goal of a comprehensive data management program, many firms fall somewhat short. Siloed governance projects and the lack of […]