Independent Banker - June 2019 - 13
History Lesson
Growing the ghost in
the machine
The recent boom of AI in the financial
industry has historic roots going back more
than a century.
While it may seem like a hot new topic, artificial
intelligence, or AI, has been around the financial
industry for much longer than you might have
imagined. Here are
a few highlights:
1900: French
mathematician
Louis Bachelier,
now recognized as
the godfather of
advanced financial
mathematics,
publishes Théorie de la Spéculation, which
explored the use of mathematics as a method to
evaluate stocks.
1959: Robert Schlaifer, pioneer of Bayesian
decision theory, now widely used in the field of
machine learning, publishes Probability and
Statistics for Business Decisions.
1980s: The decade sees a building boom for AI
in finance, including artificial neural networks,
fuzzy systems and expert systems.
1993: The U.S. Department of the Treasury
implements the FinCEN Artificial Intelligence
system (FAIS), which is able to review more
than 200,000 transactions per week to
determine incidents of money laundering.
What's next for AI in finance? Look out
for an increasing number of back-office
functions being managed by machines, bank
customers authenticating themselves with
voice recognition and loan underwriting being
informed by social media data. -Julie Kendrick
ICBA ThinkTECH Accelerator
culminates in Demo Day
celebration
News
ICBA leaders converged at the Venture Center
in Little Rock, Ark., on March 27 to celebrate the
culmination of ICBA's ThinkTECH Accelerator, a first-of-itskind
program designed to expedite the development of early
stage, community bank-focused financial innovations.
" The combination of high-touch, relationship-based
business and high-tech solutions will be the key to the
future success of community banks, " said ICBA president
and CEO Rebeca Romero Rainey, who was on hand for the
event. " These concepts-those of access, collaboration,
courage, relationships and family-play out in community
banking, and they came to life at Demo Day, the peak of the
accelerator program. "
The immersive nature of the program, which brought
entrepreneurs together with more than 60 subject-matter
experts, created refined, community bank-focused offerings.
The hope is that these will translate into the high-tech, hightouch
customer experiences of the future.
And while the 12-week program has concluded, the
opportunities for collaboration continue. ICBA Bancard
recently announced its partnership with accelerator finalist
MK Decision for real-time loan approvals. Finalist Teslar
earned the Community Bankers' Choice Award at ICBA's
ThinkTECH Showcase during this year's ICBA LIVE, and Invest
Sou Sou was named MVP from Demo Day, earning its team
the opportunity to present at Finovate. Banking and cohort
relationships will evolve as new agreements solidify and
finalists' products become more widespread.
" It doesn't end here, " said Kevin Tweddle, chief operating
officer of the ICBA Services Network. " I'm thrilled where we
are today, but I'm most excited about what this will become. "
independentbanker.org Q 13
http://www.independentbanker.org
Independent Banker - June 2019
Table of Contents for the Digital Edition of Independent Banker - June 2019
Table of Contents
Independent Banker - June 2019 - Intro
Independent Banker - June 2019 - Cover1
Independent Banker - June 2019 - Cover2
Independent Banker - June 2019 - Table of Contents
Independent Banker - June 2019 - 2
Independent Banker - June 2019 - 3
Independent Banker - June 2019 - 4
Independent Banker - June 2019 - 5
Independent Banker - June 2019 - 6
Independent Banker - June 2019 - 7
Independent Banker - June 2019 - 8
Independent Banker - June 2019 - 9
Independent Banker - June 2019 - 10
Independent Banker - June 2019 - 11
Independent Banker - June 2019 - 12
Independent Banker - June 2019 - 13
Independent Banker - June 2019 - 14
Independent Banker - June 2019 - 15
Independent Banker - June 2019 - 16
Independent Banker - June 2019 - 17
Independent Banker - June 2019 - 18
Independent Banker - June 2019 - 19
Independent Banker - June 2019 - 20
Independent Banker - June 2019 - 21
Independent Banker - June 2019 - 22
Independent Banker - June 2019 - 23
Independent Banker - June 2019 - 24
Independent Banker - June 2019 - 25
Independent Banker - June 2019 - 26
Independent Banker - June 2019 - 27
Independent Banker - June 2019 - 28
Independent Banker - June 2019 - 29
Independent Banker - June 2019 - 30
Independent Banker - June 2019 - 31
Independent Banker - June 2019 - 32
Independent Banker - June 2019 - 33
Independent Banker - June 2019 - 34
Independent Banker - June 2019 - 35
Independent Banker - June 2019 - 36
Independent Banker - June 2019 - 37
Independent Banker - June 2019 - 38
Independent Banker - June 2019 - 39
Independent Banker - June 2019 - 40
Independent Banker - June 2019 - 41
Independent Banker - June 2019 - 42
Independent Banker - June 2019 - 43
Independent Banker - June 2019 - 44
Independent Banker - June 2019 - 45
Independent Banker - June 2019 - 46
Independent Banker - June 2019 - 47
Independent Banker - June 2019 - 48
Independent Banker - June 2019 - 49
Independent Banker - June 2019 - 50
Independent Banker - June 2019 - 51
Independent Banker - June 2019 - 52
Independent Banker - June 2019 - 53
Independent Banker - June 2019 - 54
Independent Banker - June 2019 - 55
Independent Banker - June 2019 - 56
Independent Banker - June 2019 - 57
Independent Banker - June 2019 - 58
Independent Banker - June 2019 - 59
Independent Banker - June 2019 - 60
Independent Banker - June 2019 - 61
Independent Banker - June 2019 - 62
Independent Banker - June 2019 - 63
Independent Banker - June 2019 - 64
Independent Banker - June 2019 - 65
Independent Banker - June 2019 - 66
Independent Banker - June 2019 - 67
Independent Banker - June 2019 - 68
Independent Banker - June 2019 - 69
Independent Banker - June 2019 - 70
Independent Banker - June 2019 - 71
Independent Banker - June 2019 - 72
Independent Banker - June 2019 - Cover3
Independent Banker - June 2019 - Cover4
https://www.nxtbook.com/mspc/independentbanker/august2024
https://www.nxtbook.com/mspc/independentbanker/july2024
https://www.nxtbook.com/mspc/independentbanker/june2024
https://www.nxtbook.com/mspc/independentbanker/may2024
https://www.nxtbook.com/mspc/independentbanker/april2024
https://www.nxtbook.com/mspc/independentbanker/march2024
https://www.nxtbook.com/mspc/independentbanker/february2024
https://www.nxtbook.com/mspc/independentbanker/january2024
https://www.nxtbook.com/mspc/independentbanker/december2023
https://www.nxtbook.com/mspc/independentbanker/november2023
https://www.nxtbook.com/mspc/independentbanker/october2023
https://www.nxtbook.com/mspc/independentbanker/september2023
https://www.nxtbook.com/mspc/independentbanker/august2023
https://www.nxtbook.com/mspc/independentbanker/july2023
https://www.nxtbook.com/mspc/independentbanker/june2023
https://www.nxtbook.com/mspc/independentbanker/may2023
https://www.nxtbook.com/mspc/independentbanker/april2023
https://www.nxtbook.com/mspc/independentbanker/march2023
https://www.nxtbook.com/mspc/independentbanker/february2023
https://www.nxtbook.com/mspc/independentbanker/january2023
https://www.nxtbook.com/mspc/independentbanker/december2022
https://www.nxtbook.com/mspc/independentbanker/november2022
https://www.nxtbook.com/mspc/independentbanker/october2022
https://www.nxtbook.com/mspc/independentbanker/september2022
https://www.nxtbook.com/mspc/independentbanker/august2022
https://www.nxtbook.com/mspc/independentbanker/july2022
https://www.nxtbook.com/mspc/independentbanker/june2022
https://www.nxtbook.com/mspc/independentbanker/may2022
https://www.nxtbook.com/mspc/independentbanker/april2022
https://www.nxtbook.com/mspc/independentbanker/march2022
https://www.nxtbook.com/mspc/independentbanker/february2022
https://www.nxtbook.com/mspc/independentbanker/january2022
https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
https://www.nxtbook.com/mspc/independentbanker/july2021
https://www.nxtbook.com/mspc/independentbanker/june2021
https://www.nxtbook.com/mspc/independentbanker/may2021
https://www.nxtbook.com/mspc/independentbanker/april2021
https://www.nxtbook.com/mspc/independentbanker/march2021
https://www.nxtbook.com/mspc/independentbanker/february2021
https://www.nxtbook.com/mspc/independentbanker/january2021
https://www.nxtbook.com/mspc/independentbanker/december2020
https://www.nxtbook.com/mspc/independentbanker/november2020
https://www.nxtbook.com/mspc/independentbanker/october2020
https://www.nxtbook.com/mspc/independentbanker/september2020
https://www.nxtbook.com/mspc/independentbanker/august2020
https://www.nxtbook.com/mspc/independentbanker/july2020
https://www.nxtbook.com/mspc/independentbanker/june2020
https://www.nxtbook.com/mspc/independentbanker/may2020
https://www.nxtbook.com/mspc/independentbanker/april2020
https://www.nxtbook.com/mspc/independentbanker/march2020
https://www.nxtbook.com/mspc/independentbanker/february2020
https://www.nxtbook.com/mspc/independentbanker/january2020
https://www.nxtbook.com/mspc/independentbanker/december2019
https://www.nxtbook.com/mspc/independentbanker/november2019
https://www.nxtbook.com/mspc/independentbanker/october2019
https://www.nxtbook.com/mspc/independentbanker/september2019
https://www.nxtbook.com/mspc/independentbanker/august2019
https://www.nxtbook.com/mspc/independentbanker/july2019
https://www.nxtbook.com/mspc/independentbanker/june2019
https://www.nxtbook.com/mspc/independentbanker/may2019
https://www.nxtbook.com/mspc/independentbanker/april2019
https://www.nxtbook.com/mspc/independentbanker/march2019
https://www.nxtbook.com/mspc/independentbanker/february2019
https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
https://www.nxtbook.com/mspc/independentbanker/september2018
https://www.nxtbook.com/mspc/independentbanker/august2018
https://www.nxtbook.com/mspc/independentbanker/july2018
https://www.nxtbook.com/mspc/independentbanker/june2018
https://www.nxtbook.com/mspc/independentbanker/may2018
https://www.nxtbook.com/mspc/independentbanker/april2018
https://www.nxtbook.com/mspc/independentbanker/march2018
https://www.nxtbook.com/mspc/independentbanker/february2018
https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
https://www.nxtbook.com/mspc/independentbanker/september2017
https://www.nxtbook.com/mspc/independentbanker/august2017
https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
https://www.nxtbook.com/mspc/independentbanker/may2017
https://www.nxtbook.com/mspc/independentbanker/april2017
https://www.nxtbookmedia.com