Pub. 7 2018 Issue 7

L E A D I N G A D V O C A T E F O R T H E B A N K I N G I N D U S T R Y I N K A N S A S 18 ARTIFICIAL INTELLIGENCE, REAL RESULTS By: Robert Mendez, Executive Vice President, BankOnITUSA A rtificial Intelligence (AI) is already in use at some banks, and allows them to make decisions that help decrease risk and improve efficiencies. AI is allowing these banks to make smarter decisions and make them faster. How is your response impacted if problems your lenders experience with the bank’s lending platform are kept from occurring at other banks using the same platform? If the issues your tellers encounter with the teller platform have a proven resolution? Or if the ransomware event at your bank is successfully stopped at other banks, before it locks up data? These are some of the capabilities AI provides. Every bank can obtain these capabilities. You can have AI capabilities today helping you reduce risk, increase efficiency and enabling your bank to get better results. Several years ago, BankOnIT integrated AI technology into its Bankers Private Cloud® service, with the addition of BankOnIT’s Virtual Engineers. Utilizing AI to work alongside human engineers, banks gain improved efficiency and better results in their information technology networks. BankOnIT developed the virtual engineers within its Bankers Private Cloud® solution to collect and analyze the massive amounts of data relating to systems’ performance and security that flow through the firm’s own data centers. Designed to detect patterns and identify anomalies, the virtual engineers’ artificial intelligence systems are designed to take action when specific issues arise. Issues such as a failed hard drive in a storage cluster, a down Internet connection or a cybersecurity threat are only a few examples of issues that are automatically handled in less than seconds. “Traditionally, most banks have left network performance, security and other issues to the employee to identify and report to the IT staff, with IT being an order taker and simply responding to employee requests when something breaks,” Robert Mendez, EVP at BankOnIT, said. “BankOnIT changes that dynamic by having the virtual engineers identify issues and do so faster than your employees or your IT staff could identify them. In many cases, these virtual engineers have automatically created a solution before the employee realizes there was an issue.” As a result, the bank gains productivity and efficiency in addition to having a more secure and resilient technology network. About the Author: Robert Mendez is executive vice president of BankOnIT. Mendez has nearly 25 years of banking experience and joined BankOnIT in 2006. He holds a BBA in finance, an MBA and is a graduate of the Graduate School of Banking at Louisiana State University in Baton Rouge. Mendez pre- viously co-founded a bank regulatory software company. As a former banker, Mendez has a unique perspective on a bank’s need to meet security, efficien- cy, reliability and regulatory requirements, while maximizing earnings. Using AI combined with human expertise substantially reduces the cost of cybersecurity events by discovering threats faster and containing them more quickly than without use of these tools, according to a recent study1. A single bank may not know why an event is occurring, if it is occurring elsewhere or know if it’s been previously resolved; but BankOnIT has this knowledge. More importantly, BankOnIT applies this knowledge to give client banks a competitive advantage they otherwise would not have. Discover what your bank can gain from the competitive advantages BankOnIT provides by contacting us at 800-498-8877, option 2, or solutions@bankonitusa.com . 1Hidden Costs of Data Breaches Increase Expenses for Businesses (IBM). 1Hidden Costs of Data Breaches Increase Expenses for Businesses (IBM)