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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
| Name | Organization | Speaking At |
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Carl Pry
<p><span style="background-color:rgb(255,255,255);color:rgb(88,89,91);font-size:15px;"><span style="-webkit-text-stroke-width:0px;display:inline !important;float:none;font-family:"Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:start;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Advisor for Asurity Advisors in Washington, DC. Through his more than 30-year working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves as the Chair of the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.</span></span></p>
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Asurity Advisors | All Sessions |