| | August 20176CIOReviewAdventure is the life of commerce, but caution is the life of banking." The global economy has been through a sufficient number of financial panics, the most recent being the Crisis of '07, to understand the bitter truth in the above statement. Almost ten years later, in a time when things are beginning to get back to normalcy, there is a consensus among modern-day banks that the situation could have been averted, had there been a litmus test for banks to test the waters before indulging in excessive risk-taking acts. To that end, application of advanced data science and analytics in the internal workflows of the financial process chain has been known to help banks improve risk control and maintain a healthy liquidity and solid balance sheet at the end of their banking day.Digital credit assessment, credit-collection analytics, and other early warning systems stand vigilant making the life of a bank's CIO easier. Meanwhile, on the administrative side, technologies like AI, speech recognition, and VR are showing potential to revamp the banking UX for consumers. Seated atop huge datasets including demographics, econometrics, cash-flow cycles, liquidity needs, and costs of capital, these user-facing technologies powered by analytical engines will give the much needed competitive edge that banks will need in times of the rising overtake by digital currency. These technologies coupled with higher interest rates in the wake of the changing governments will give banks more room to increase their profit margins. Experts believe that this should be ample enough to cover the changes that are set to occur in the form regulatory amendments and modifications to existing reforms, plus a chance to recuperate.In an effort to help banks make the right move, CIOReview has come up with its annual special edition on banking, with a curated portfolio of providers in the space as well as insights from leading banks in the nation.Let us know your thoughts!Jeevan George Managing Editoreditor@cioreview.com Copyright © 2017 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewAUGUST - 10 - 2017Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 AUGUST - 10 - 2017, Vol 06 SE 72 Published by ValleyMedia Inc.To subscribe to CIOReviewVisit www.cioreview.com BANKING TECHNOLOGY SPECIALCIOReviewEditorial StaffSalesT: 510.565.7560Aaron PierceAlex D'SouzaCarolynn WaltersEileen SinghKenneth ThomasKyle SummersRobin WayneRussell ThomasSarah FernandesSyeda Tina TabinAlena D'Souzaalena@cioreview.comVisualizersStephen ThomasAjay K DasManaging EditorJeevan GeorgeEditorialRisk Control for Better Margins**Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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