Apidays New York 2024 - Accelerating FinTech Innovation by Vasa Krishnan, FinResults

Accelerating FinTech Innovation: Unleashing API Economy and GenAI
Vasa Krishnan, Chief Technology Officer - FinResults

Apidays New York 2024: The API Economy in the AI Era (April 30 & May 1, 2024)

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Transcript

1. April 30th, 2024 § Rapid Innovation § Competitive Advantage § Faster time-to-revenue § Competitive Advantage § Create Quick Value Accelerating FinTech Innovation: Unleashing API Economy and GenAI
3. 2 A fintech committed to building experience-led solutions to drive profitable growth Better Experiences, Better Results Founded: October 2021 Headquarters: Boca Raton, FL Personnel: 40 employees/contractors SENIOR INDUSTRY EXECUTIVE LEADER with 25+ years in Technology. Data, Analytics & AI with an outstanding record of success in leading and delivering complex enterprise transformation and Innovation programs, large-scale enterprise solutions in financial services. Held senior leadership roles with leading financial service institutions, management consulting firms and FinTech’s. Managed global, regional and cross-cultural teams of 50-300 members across business, IT, and operations with program budgets of up to $75MM over multiple years. Vasa Krishnan Chief Technology Officer (CTO) C All contents in this slide is copyright 2024 by FinResults, Inc. No copying or distribution without express written permission.
4. nFiniti.AI is a digitally remastered customer onboarding experience 3 Customer onboarding can be slow, cumbersome, disjointed, and frustrating – for both customers and employees alike. nFiniti.AI is purpose-built to overcome these challenges by providing an end-to-end solution that streamlines and simplifies customer onboarding. Track a customer’s onboarding journey from first contact through account opening Empower the Salesforce Eliminate paper forms and emailing documents, avoid rework and minimize redundant data entry Delight Customers Enable staff to validate data, flag missing items and conduct required compliance checks all in one place Accelerate Due Diligence Streamline account opening with a fully consolidated set of validated data in good order Streamline Account Opening C All contents in this slide is copyright 2024 by FinResults, Inc. No copying or distribution without express written permission.
5. 4 Extensible Adaptable Secure Scalable • SOC 2 / Type 2 certified • Data encryption in motion and at rest • API-driven • Runs anywhere • Built on a low-code/no- code framework • White-label experience • Configurable vs. hard- coded business processes • Cloud native application and data architecture • Powered by AI …and is engineered to scale and adapt in order to avoid costly system proliferation as more products & services are added to the platform • Deploy nFiniti with a look and feel that is consistent with your existing digital properties • Rapidly roll out new products and services • Improve adoption by using the same digital onboarding solution for all products and services • Lower total cost of ownership C All contents in this slide is copyright 2024 by FinResults, Inc. No copying or distribution without express written permission.
6. 5 API Monetization is already happened through various Business Models and assets that can generate revenue , great opportunity to create value for both providers and consumers. The API Economy delivers a complete shift in how Fintech’s design, develop the product solutions, Focusing on openness, collaboration, interoperability and speed to market. By embracing the API Economy, FinTech’s unlock new opportunities for innovation, growth, and competitive advantage in the digital era. Operate Integration Security Scalability Growth Revenue Exposure Innovation Monetize Access Research Flexibility Protocols Business Modes
7. 6 Generative AI - GenAI within field of AI that covers the set of of concepts, techniques, and models that focus on generating contextually relevant responses to prompts that resembles human-created content. GenAI delivers a complete shift towards generating new content, often employ generative modeling techniques such as Generative Adversarial Networks (GANs) or Variational Autoencoders (VAEs) to push the boundaries of what AI can achieve in terms of creativity and innovation. creativity Ethics Security Scalability Growth Revenue Exposure Innovation Monetize Access Research Flexibility Collaboration Business Modes
8. Intersection of Generative AI (GenAI) and APIs opens unlimited possibilities for FinTech’s to combine two transformative technologies, each playing a crucial role in shaping the future and and drive innovation The intersection of GenAI and APIs represents a convergence of intelligence and connectivity, unlocking new possibilities for FinTech’s. By leveraging GenAI through APIs, organizations can automate repetitive tasks, personalize user experiences, product innovation, and extract insights from vast datasets with unparalleled speed and accuracy. GenAI, powered by advanced machine learning algorithms, enables systems to generate content, make decisions, and perform tasks autonomously. APIs serve as the connective tissue of the digital ecosystem, facilitating seamless communication and integration 7
9. 8 The rise of AI in the API Economy drives significant change where AI tools, technologies & platforms are coupled with business ecosystem to Enhance intelligence, Enrich functions, Deliver value The integration of AI into the API Economy unlocks new opportunities for innovation, intelligence, and automation across industries. By leveraging AI-powered APIs, organizations can enhance their products and services, deliver personalized experiences, and drive business growth in the digital age. 1. Customer Engagement 2. Underwriting & Scoring 3. Personalization of product & services 4. Fraud Detection and Prevention 5. Risk Management and Stress Testing 6. Algorithmic Trading 7. Financial Content Generation AI-Powered Momentum fueled into many areas in FinTech’s.
10. 9 Document Intelligence: Use Case
11. 10 Q & A