The Evolving Banking Industry
Ask the Expert: Trends in Banking
As President and CEO of NJBankers, Michael Affuso relies on his more than two decades of experience working in New Jersey government and the banking industry to best serve the organization’s 60 member banks.
The organization serves as “The Voice of the Garden State Banking Industry” and we asked Affuso about how AI is reshaping the banking industry and about NJBankers’ upcoming Economic Leadership Forum on March 5.
AI’s role in fraud detection…
When it comes to fraud, AI is being used both to create fraud and to combat it. Top scams include investment scams, imposter scams and romance scams, which are being aided by AI. But the banking industry is highly adaptive and is using AI to thwart these scams, utilizing technologies that quickly and efficiently detect and prevent various types of fraud. This is a rapidly evolving landscape, and banks are staying vigilant to protect consumers.
The upcoming Economic Leadership Forum…
This is one of our signature events that brings together banking and business leaders from across the state. This year, we’re excited to host a panel on the film industry’s economic impact on New Jersey, with experts speaking on the projects and incentives coming to our state. We’ll also have an economist share a state and national economic outlook and will explore hot topics such as digital banking and assets, managing growth, risk and regulation in uncertain times, and real estate trends.
Excited about the future…
Our industry is a dynamic and resilient industry that evolves with customer preferences and other market demands. Bankers wake up every day excited and energized to serve their customers well, and we at NJBankers are here to support them as “The Voice of the Garden State Banking Industry.” The enthusiasm created by new technology fans the flame of this energy, and I’m excited to see what the future holds.
New Jersey Bankers Association
Cranford
