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Digital/Online Banking and the Rise of Artificial Intelligence Webinar
September 11, 2024
There has been quite a lot in the news lately regarding the use of artificial intelligence, or AI, in the banking industry. But there is more to it than just AI – financial institutions are increasingly using algorithms and so-called “big data” in their operations. The benefits are obvious – more effective marketing, more efficient underwriting of credit, and just an overall sense of better knowing the customer.
But there are two sides to every coin; there are significant risks to using AI and nontraditional data when dealing with customers and prospects. The regulatory agencies are keenly focused on these risks and are looking very carefully at what the industry is doing.
In this webinar we’ll discuss the associated risks with incorporating AI and “big data,” current and proposed agency guidance aimed at AI use, and review case studies for real-life application.
What You Will Learn
- E-SIGN issues and requirements – what can we provide electronically and when?
- Online communication through email and social media – regulatory guidance
- Advertising issues – reaching remote customers, including opt-out rights
- Remote Online Notarization (RON) – incorporating this into your process
- “Algorithmic discrimination” – what is this, and how can we monitor for it?
- Digital redlining – offering your products in the digital world
- The White House’s “Blueprint for an AI Bill of Rights”
- The Facebook settlement – case study in digital advertising
- Regulatory agency and FTC guidance on the issue – many to-dos and recommendations
- Machine learning and related risks
- AI Framework from the National Institute of Standards and Technology
- FHA: algorithm-based tenant screening
- Recent Automated Valuation Model (AVM) proposal – bias in the evaluation process
- Joint statement on AI-based discrimination from CFPB, DOJ, FTC, and EEOC
Who Should Attend?
IT Staff, Compliance Staff, and any Strategic Planning / Innovation Managers
Date & Time
September, 11, 2024
9:50AM Zoom Sign In | 10:00AM Program Start | 12:00PM Program Concludes
Agenda
Speakers
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Carl Pry
<p>Carl Pry, a Senior Advisor at Asurity Advisors, is a seasoned executive with banking law, corporate finance, and regulatory compliance experience in Fortune 500 institutions, regional banks and industry consulting firms. Carl advises clients on consumer and commercial compliance, fair lending, operations, risk, corporate treasury, and risk management.</p><p>Over the last thirty years, Carl has held senior leadership positions including Managing Director and Senior Advisor at a boutique regulatory compliance consulting firm, Senior Vice President and Compliance Manager for the Compliance and Control Division at KeyBank, Manager of Finance and Performance Management Service Line at Accenture, and Vice President of Regulatory Services at Kirchman Corporation. With strong knowledge and experience as a banking attorney and officer, Carl is a frequent contributor to and currently serves as the Co-Chair of the Editorial Advisory Board for the ABA Bank Compliance magazine. As a featured speaker for numerous banking, compliance, and state bar associations, he has led hundreds of training sessions across the country. Carl has served as an instructor at FDIC examiner school and back-up instructor for NCUA examiner school. He has authored training programs covering consumer and commercial compliance, Compliance Management Systems, audit, quality control, tax, privacy and risk management. He also serves as a frequent expert witness in litigation matters.</p><p>Carl is a regular columnist for the ABA Bank Compliance magazine. He has authored scores of articles on financial issues and developed testing and support materials for both the ABA’s Certified Regulatory Compliance Manager (CRCM) and BAI’s Anti-Money Laundering Professional (AMLP) certifications, and served as subject matter expert for web-based compliance and audit educational testing programs for banking training firms. He is the author of “Internet Banking Manual”, a comprehensive guide to business planning, risk analysis and maintaining a presence for financial institutions on the Internet. For LexisNexis, he also authored “The New RESPA Rule: Navigating New Disclosures” and “The Evolution of Reg. Z: Increased Duties and Responsibilities for Lenders,” among other publications.</p><p>Carl holds a JD and an MBA from the University of Toledo and a BSBA from Bowling Green State University. He is also a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP).</p>
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Asurity Advisors | All Sessions |