Systems | Development | Analytics | API | Testing

With the emergence of new creative AI algorithms like large language models (LLM) fromOpenAI’s ChatGPT, Google’s Bard, Meta’s LLaMa, and Bloomberg’s BloombergGPT—awareness, interest and adoption of AI use cases across industries is at an all time high. But in highly regulated industries where these technologies may be prohibited, the focus is less on off the shelf generative AI, and more on the relationship between their data and how AI can transform their business.

In the fast-paced and highly regulated world of financial services, software quality is arguably of utmost importance. To ensure financial products meet complex requirements and deliver seamless user experiences, robust testing methods are crucial. One such approach that has gained significant traction in the financial industry is Behavior-Driven Development (BDD) testing.

Get a comprehensive overview of Fintech app development and learn how a solid mobile testing infrastructure can help you stay competitive in the market.

Bank turmoil associated with recent bank failures has highlighted the importance of due diligence for managing financial risk, growing revenue, and retaining jittery customers. Regulators will likely ramp up their scrutiny–even after hitting financial institutions with a jaw-dropping $2.7 billion in fines in 2021 for failing to meet compliance and due diligence standards.

If you’re worried about the potential for heightened regulatory scrutiny in financial services, you’re not alone. Business operations teams everywhere are focused on the end-to-end, client lifecycle management (CLM) process as they cope with ever-changing regulations governing how, when, and where client data can be stored and accessed. It’s hard to stay compliant when customer data is spread across multiple operational silos.

The results are in–for the third year in a row, insightsoftware has partnered with Hanover Research to deliver our yearly Finance Team Trends Report. Comparing results across the years shows an incredible journey for finance teams across the globe. The survey included 519 senior accounting and finance professionals across North America and Europe, the Middle East, and Africa (EMEA). 52% are located in North America while 48% are in EMEA.

Greg Peranich and Tryn Brown contributed to this post. The world of financial services is driven by digital experiences. Over the last 20 years, virtually all banking activities have been taken online (an unfortunate change only for fans of pneumatic tubes and pens on beaded chains). Like other industries that have undergone digital transformation, financial institutions are leveraging APIs to give users a more seamless experience when managing their money.

Leaders are taking a closer look at bank stress testing in the wake of recent bank failures. The significant impact of these collapses on the financial system, along with the government's extensive measures to prevent additional bank failures, is increasing the sense of urgency around enhanced regulatory supervision.

DBS Bank Head of Automation, Infrastructure for DBS Big Data, AI and Analytics Luis Carlos Cruz Huertas has a 1-on-1 discussion with Unravel CEO and Co-founder Kunal Agarwal about the convergence of DataOps and FinOps. The discussion, Leading Cultural Change for Data Efficiency, Agility, and Cost Optimization, was held at a recent Untap event in New York and revolves around best practices, lessons learned, and insights on.