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Javed Ahmed Discusses the Competition Between Banks and Tech Companies in WSJ Article

By Shaunna Randolph • September 24, 2020

Photo by AbsolutVision on Unsplash

Metis Corporate Training Senior Data Scientist Javed Ahmed joined a panel of banking industry executives to discuss the pressure fintech and big technology companies place on traditional banks in the race to develop AI tools. The panel advised that fintechs will lead to AI innovation, thanks to their tendency not to face the internal red tape often found at these legacy organizations. The panel discussion was covered in the Wall Street Journal, where Javed is quoted as saying:  

"When it comes to offering lending services, many fintech firms tout their digital-first approach and willingness to consider alternative data, such as utility bill history, that traditional banks may not. Those factors – as well as their appeal to younger customers and the rise of e-commerce prompted by the pandemic – are likely to help boost the market share of fintech companies."

Other panelists mention that banks are gaining steam in their digitization and automation efforts, but that means increased regulatory scrutiny may not be far behind. Read the full article in the Wall Street Journal.

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