Securing the Power of AI Puts Financial Services in the Driver Seat
Harnessing AI, “will determine the split between winners and losers… In order to keep relevant for the future, you need efficient back office operations… on top of that, you need to be able to tailor make products… If you cannot provide those kind of services in the future, a competitor will and you will lose.” AI in banking: the reality behind the hype, FT.com, April 2018
Financial Services organizations globally know that AI and digital innovation drive business efficiencies and boosted earnings. For businesses that process millions of transactions every day and generate masses of data, AI can reveal trends and patterns that help them make smarter, faster and more strategic data-driven decisions.
Yet with technological advancement comes uncertainty and with great opportunity comes responsibility. Evolving cyberthreats and a developing regulatory landscape mean Financial Services providers – and their customers – are justifiably concerned about risks to the private information fueling AI.
While these fears are understandable, they do not need to stop progress – with a data-centric approach to protecting sensitive information organizations can confidently embrace AI to achieve the following:
How Financial Services can Secure the Power of AI
Top Ways to Leverage Data Protection
Leveraging the Power of Protected Data for Artificial Intelligence and Beyond
DRIVE GROWTH AND BUSINESS REVENUE WITH PROTEGRITY
- Safely realize the promise of cloud: The ability to actively manage data and control access to it enables FSIs to confidently migrate to the public cloud. CEB/McKinsey finds that average cost savings made by doing this, whether it be for bursting or replacement of current data center capabilities, can be as much as 30%.
- Simplify regulatory compliance: Taking a Privacy by Design approach to protecting customer information means FSIs can simplify meeting the strict regulatory requirements of PCI DSS, GDPR and GLBA in the US, PSD in the EU and the UK’s FCA. Penalties for noncompliance are only increasing – fines under GDPR penalties can reach 4% of annual global turnover.
FOCUSED ON CUSTOMER SUCCESS
20% of the largest Financial Services Institutions protect their data with Protegrity*
Protegrity is the proven answer financial services institutions needing to protect their sensitive data and make sure it is only released to authorized customers and personnel. Protegrity Financial Services Customers cover the entire swath of financial services including banking, credit cards, capital markets, and securities.
*Based upon Fortune Global 500 Lists released in August of 2018
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