The Future of Digital Assurance in Banking: Powered by Generative AI
Anoop Singh Sengar
SVP @ ValueLabs | Fintech Advisor | Value Creation & Turnaround Specialist
In the dynamic realm of digital transformation
Over the past 2-3 months, I've engaged with 10 senior leaders in the QA chapter of banks and heads of digital platforms, and the consensus is clear: Generative AI
Here are 5 areas where GenAI Enhances Digital Assurance in Banking:
-Test Case Generation: GenAI automates test case creation, ensuring comprehensive coverage across various scenarios while validating software functionality and identifying defects early on.
- Regression Testing: GenAI adapts test cases to code changes, maintaining system stability during updates and ensuring existing features function flawlessly.
-Enhancing Test Data: GenAI produces synthetic data mirroring real-world scenarios, invaluable for testing machine learning models, fraud detection algorithms, and risk assessment systems.
?- Data Augmentation: By augmenting existing datasets, GenAI enhances test coverage, generating diverse input data for more robust testing.
- Detecting Irregularities: GenAI identifies anomalies in transaction data, user behavior, and system logs, uncovering potential security vulnerabilities and ensuring regulatory compliance.
领英推荐
- Penetration Testing: GenAI simulates cyberattacks to assess the system's resilience, identifying weak points and providing insights to fortify security measures.
- Natural Language Understanding (NLU): GenAI evaluates chatbot responses by analyzing user queries, ensuring precise understanding and context-aware interactions.
- Intent Validation: GenAI validates chatbot intents, refining conversational flows and minimizing errors for seamless user experiences.
5. Model Validation and Stress Testing:
- Model Verification: GenAI validates predictive models for credit scoring, investment recommendations, and risk assessment, ensuring accuracy and fairness.
- Stress Testing: GenAI simulates extreme scenarios to assess system performance under pressure, such as market crashes or sudden transaction spikes.
By harnessing the power of GenAI, banks can achieve unprecedented levels of digital assurance. This translates to:
The Future of Banking: Trust and Excellence Powered by Technology
The adoption of GenAI signifies a paradigm shift in digital assurance within the banking industry. It's not just about keeping pace; it's about embracing innovation to create a future where technology becomes synonymous with trust and excellence. This is the true digital destiny of banking – a future where GenAI empowers banks to deliver secure and reliable experiences, fostering unwavering customer confidence.
Country Manager @ ValueLabs | Driving Sales Growth, Operational Excellence
11 个月Very well highlighted Anoop Singh Sengar! The transformative impact of GenAI on quality assurance in banking is truly remarkable. With GenAI driving innovation, we’re poised to redefine QA standards and deliver unparalleled excellence in the banking sector.? Looking forward to an exciting journey together GenAI #QARevolution #DigitalBanking
Technology Sales Leader | Digital Transformation | Gen AI | Software Development | Quality Engineering | Data & Analytics
11 个月Banks/Financial Institutions have recognized that GenAI is the next transformative force to fuel their digital aspirations and are quickly leveraging GenAI tools to ride the wave. They must forge partnerships with Organisations that clearly understand their domains and bring value & in turn ROI. The Use-Cases and Benefits are excellently called out. Great piece Anoop Singh Sengar.
Independent Director | Board Member | Tech Architect | Digital Banker | Investor |Team Builder | Mentor-Coach | Founder | Blockchain | Speaker | CEO | Regtech | Fintech | CBDC | RWA | Impact Maker | Innovator | Educator
11 个月Excellent Anoop Singh Sengar