Why AI Matters in LIBOR Transition
On July 27, 2017, the UK’s Financial Conduct Authority announced that the London Interbank Offered Rate (LIBOR), one of the world's most widely used interest rate benchmarks, will be phased out by the end of 2021. While officially a UK protocol, LIBOR is used as a reference rate by financial institutions around the world, including the United States, and its impending demise has generated calls to action across the global banking and finance industry.
ABBYY Honored with Blue Prism “Partner of the Year” Award
ABBYY was recognized last week as Technology Alliance Program (TAP) Premier Partner of the Year at the inaugural ‘virtual’ Blue Prism World conference. While this is a terrific honor by a highly valued and long-standing partner at an amazing event, the greater significance of the award can be seen by the results of the visionary organizational leaders.
7 Tips for Bringing Artificial Intelligence into Your Organization
Artificial intelligence (AI) is certainly the most revolutionizing technology of the digital age, as enterprises explore ways to utilize machine learning (ML) and other AI tools to harness customer insights, spot talent, and secure corporate networks.
Financial Services - Ready for Business in the Year of COVID Transition
Just 6 months ago, no one would have imagined that social distancing would be the normal way of interacting in public settings or doing business. But now, just halfway through the year, we can hardly imagine what it was like going to the store, getting a meal, or going to the bank without a mask, hand sanitizer, avoiding cash, and being vigilant about safe distance.
Why Process is Such a Big Problem
A recent survey commissioned by ABBYY asked decision makers across multiple industries – Financial Services, Insurance, Government, for example – how consistently they believed workers followed processes. As one would expect with any survey, results varied by industry, with Financial Services and Insurance scoring pretty high, but most surprising was the comparatively lower scores Government decision makers (leaders) gave their organizations.
Are you asking these questions before implementing RPA? You should be…
It’s no secret that Robotic Process Automation (RPA) is driving technological advancement. With benefits such as improved throughput rates, process adherence, and time-saving opportunities, more and more companies are adopting RPA. It is expected that by 2025 that businesses will gain a potential savings of $5 trillion to $7 trillion due to RPA. This is because of its large time and cost-saving ability when paired with the right processes.
ABBYY Helps Banks Overcome Process Challenges
The financial services industry is facing unprecedented pressures due to a perfect storm of the pandemic, technological disruption and customer expectations. As a result, the pressure on operating margins is high, loan deferrals are up, loss provisions are increasing and interest income is declining.
Newly Released ABBYY FineReader Server 14.2 Makes High-Volume Document Processes Seamless
Today’s global workforce has experienced fundamental and disruptive changes over the past few months as a result of the pandemic. Organizations across diverse sectors and geographic markets are experiencing shifts in their day-to-day work environment that have revealed the need for greater operating efficiency, connected systems, and seamless workflows across every facet of the enterprise.
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