Real-world Lessons for GenAI in Banking, According to Google

The hype — and controversy — surrounding GenAI has tended to overshadow the forward progress being made. But now 2024 is shaping up to be the year the banking industry will move from pilots and proofs of concept to real applications of the technology.

So says Zac Maufe , head of regulated industries at Google Cloud .

“People have been getting their arms around it,” says Maufe, who worked in various banking posts, chiefly at Wells Fargo, prior to coming to Google Cloud in late 2020, “This year, you’re going to see real use cases in production — and the underlying economics of GenAI start to come to life.” Read the full article.

Our Other Top Reads From This Week:

• Inside Capital One’s Auto Lending Innovation Machine ( Steve Cocheo , Sanjiv Yajnik )
• Washington, Banks & AI: Here’s How to Get Ready for More Scrutiny ( Leah Robinson , Capco )
• How Three Community Bank CEOs Are Tackling Tech, Talent and Deposit Challenges ( Matthew Doffing , Charles Leach , Bernie Gaytko , Brad Bolton )

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Next Week's Webinar: How Modern is Your Core? How Banks Can Start Their Digitization Journey

Financial institutions are locked into disparate data silos that don’t talk to each other, making it impossible to improve the customer experience, quickly launch new products, reduce operational costs or profitably scale. FIs know they must evolve, but most financial leaders say they worry about the ROI or how to get started.

This webinar with 💯 Jim Marous and David Feuer , CPO of Galileo Financial Technologies will show real-world examples of how banks took a phased approach to start their digital journey and demonstrated the ROI of implementing a modern core. Register for the webinar.

In this webinar, you’ll learn more about:

• How financial institutions can start their core modernization journey
• How to measure the ROI of banking modernization investments
• How to identify internal stakeholders to support this cross-functional initiative
• The correlation between APIs and personalizing the customer experience
• How to avoid the “rip and replace” strategy with scalable, incremental upgrades

If you like our content, check out The Financial Brand Forum in May 2024 in Las Vegas. Don't miss the financial industry's premiere annual event — the biggest and best conference on CX, marketing, AI, data analytics and digital growth strategies in banking! Over 2,500 of the brightest minds in banking will be at The Financial Brand Forum this year.

Q1 2024 Power 100 Rankings Now Available!

The Financial Brand‘s “Power 100” database breaks down the social media stats of retail banks and credit unions in the English-speaking world. Every calendar quarter, The Financial Brand collects data from roughly 2,000 different banks and credit unions on Facebook, X, YouTube and Instagram.

Did your financial institution make the list? Check it out!