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Showing posts with the label machine learning

Why Business Banking Customers Face Delays After Their Accounts Are Approved

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  The paperwork is complete. Compliance checks are done, and the relationship manager confirms that the account is ready. Yet, the business customers still cannot use all the banking services they need. Opening a bank account is only the first step for many businesses. They may also need access to ACH transfers, wire payments, treasury services, online banking, or business debit cards. These services often involve separate applications, departments, and approval steps. So, even after account approval, some services may still be pending. This delay frustrates customers and increases bank employees' workload . Account Approval Does Not Always Mean Business Readiness Business banking onboarding involves more than verifying documents and creating an account. Several activities may remain incomplete before a customer can use the services they requested. These may include: Setting up online banking and user access. Activating ACH and wire transfers. Setting up treasury management servic...

Natural Language Processing – What it is and why it’s important

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Introduction Natural Language Processing — the application of software systems to examining, interpreting and accurately responding to speech is viewed as the next big leap in user interface technology. However, human speech is far more complex than most people realize. There are rules, such as spelling and grammar. How we interpret speech and text, though, is far less well-defined. How do you know when a person is being sarcastic, for example? How do we know that an athlete’s explosive sprint to the finish line didn’t involve any pyrotechnics? In human language, the words can say one thing, but the context and the tone make those words mean something else. It takes humans a half a lifetime to learn the subtle nuances of language. Even then, there will be words and phrases that some of us don’t understand. Then, there are further complications in understanding language, such as dialects and colloquialisms. So, how can a computer that “thinks” in binary be programmed, line by line,...

The Complete Guide to Machine Learning for Business Leaders

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Machine Learning For Business Leaders Machine Learning has garnered a significant share of recent press coverage in both tech and main street media. It is inextricably intertwined with, and central to, discussion and dialogue on topics ranging from big data in general to Facebook’s threat to privacy, Boston Dynamics creepy robotics, and Google’s exploitation of artificial intelligence for good and ill. As such, it is easy to view machine learning as either sinister or magical — neither of which is true. For today’s business leader, an objective and actionable understanding of machine learning are as important as an actionable understanding of finance and financial management. Machine Learning is a subset of artificial intelligence, where computer algorithms are able to learn from data and modify their behavior accordingly. These algorithms have the ability to identify patterns in data that humans can’t see. Some commercial applications of Machine Learning include speech recognition,...