The article was published on 05.06.2024 in the print edition of the Austrian daily newspaper "Die Presse" and is now also available online.
Financial transformation is reshaping the banking sector across Europe. Die Presse, one of Austria's leading daily newspapers, recently examined how modern technology is redefining banking operations and accelerating innovation. The publication spoke with Christopher Helm, Managing Director of Helm & Nagel GmbH, about the potential of advanced banking software and artificial intelligence in modernizing financial institutions.
The digitalization of banks and the financial sector remains a critical priority for many institutions. Many technologies currently in use are increasingly regarded as outdated and are partly responsible for the slow pace of development. Artificial intelligence and modern digital solutions could become decisive factors by accelerating and automating many processes while reducing operational costs.
The most important insights:
- Specialist departments in banks often initially produce more data than they can evaluate directly.
- Automating processes can help by managing data, bookings and communication more efficiently.
- Banking software helps by creating individual profiles, evaluating data and making personalized suggestions for action.
- An important result in the service area is significantly improved customer loyalty.
- The detection of fraudulent activities is also a common use case in finance. Special software can be used to detect anomalies in the data stream with advanced risk management capabilities.
- Last but not least, AI-based risk management also enables well-founded decisions to be made in lending.