In SAP Industry Live, Bob Evans sits down with SAP executives, customers, and partners to gain insights into cutting-edge innovation in the banking market and the insurance market. In today’s episode, Bob, Jason Cawthorn, vice president, sourcing execution, TD Bank Group, and Falk Rieker, global head of banking, SAP explore how the banking industry is cautiously embracing cloud technology to meet evolving customer expectations while addressing regulatory challenges. SAP, TD Bank | Future of Tech in Banking Sponsored by SAP Banking’s move to the cloud: The banking industry is shifting from building and maintaining on-premise infrastructure to adopting cloud services to improve efficiency and agility. The shift is gradual due to the responsibility of safeguarding data and complying with stringent regulatory requirements. Global regulations: Navigating diverse global privacy laws and regulatory requirements remains one of the industry’s biggest challenges. There are few common positions, although regional agreements are a step in the right direction. There’s an example of a customer who had to talk to more than 50 different regulators while implementing an SAP suite. AI and machine learning: Artificial intelligence (AI) and machine learning are being applied in banking processes to improve efficiency, predict contract consumption, and provide […]
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