Tag: AI in finance

Artificial Intelligence in Banking – The Main Theme of IT@Bank 2024!

19 November 2024

Artificial intelligence and the future of the insurance industry at the XXVI Congress of Brokers

11 June 2024

Picturesque Mikolajki once again hosted the XXVI Congress of Brokers, organized by the Association of Polish Insurance and Reinsurance Brokers. The theme of this year’s event was “Artificial Intelligence and Us,” which prompted numerous discussions about the role of AI in the future of the insurance sector. For the VSoft Insurance Broker team, the congress theme was of particular importance. On the spot, our experts Anna Kurek-Płaneta, Milena Kaminska and Magdalena Ojczyk-Fornal had the pleasure of presenting the VIB program, which is an excellent example of how technology can support the work of brokers in their daily work. The congress

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Real Application of AI in the Polish Banking Sector – BankTech 2024

11 June 2024

This year’s edition of BankTech focuses on artificial intelligence and its practical applications in banking. Together, we will determine the current technological development level of the sector. Main Topics: Artificial Intelligence in Banking: Discussion on practical applications of AI, technological aspects, and regulatory challenges. CIO Debate: A discussion with board members responsible for technology and digitization in Polish banks. Award Ceremony: MF BANK Ranking of Banks in Poland 2023 by “Miesięcznik Finansowy BANK.” VSoft will be represented at the conference by Alicja Skowronek-Dzierwa, Product Manager, and Paweł Gajewski, Analyst. Participants will receive a report created by ,,Miesięcznik Bank”, featuring

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AI in Debt Collection: How to Harness the Potential of Artificial Intelligence in the Debt Recovery Process

Artificial intelligence has become an integral part of our everyday lives. Increasingly, people are turning to ChatGPT instead of traditional search engines, asking AI for weekend trip plans or jacket recommendations for a mountain hike. But the real revolution is still on the horizon—especially in the financial sector and receivables management. With the AI Act coming into effect, companies must not only recognize the potential of these new technologies but also develop strategies for their safe and legally compliant implementation.Generative AI, along with language models and machine learning systems, is unlocking unprecedented opportunities for process optimization and increased effectiveness in debt management. However, using these tools brings both immense potential and specific risks. When implementing AI within an organization, one must be aware of the requirements set out by the AI Act, which came into force on February 2, 2025. The regulation defines the principles for the development, implementati...

How Automation and AI Are Transforming the Receivables Management Industry

Automation, artificial intelligence, and advanced digital tools are transforming processes related to receivables management. What’s driving these innovations, and what benefits do they bring to the debt collection industry?Debt collection processes, whose main objective is the effective recovery of overdue receivables, are undergoing a profound technological transformation. Modern solutions support all key aspects of these processes—from client communication and decision-making to the collection and updating of debtor information. The implementation of advanced technologies and AI significantly accelerates execution, especially in the area of customer interaction, directly improving the effectiveness of debt recovery. Automating these actions can also help significantly reduce operational costs. A New Era in Customer Communication Effective communication with debtors is the foundation of successful debt collection. The upcoming automation of most standard interactions—from phone calls and ...

Artificial Intelligence in Banking – The Main Theme of IT@Bank 2024!

Traditionally, as every November, we are pleased to meet you at the IT@Bank conference, organized by the Związek Banków Polskich and Miesięcznik Finansowy Bank. This year, the event will take place on November 20, 2024, in Warsaw.The IT@Bank conference is not only a networking space but also an opportunity to attend presentations and participate in panel discussions addressing the key trends and challenges for the industry.This year’s main theme is artificial intelligence in banking – its applications, benefits, and the readiness of financial institutions to implement AI into their structures. This highly relevant and inspiring topic reflects the changing market dynamics and the expectations of financial sector clients.VSoft will be represented at IT@Bank by Jakub Głąb and Łukasz Kawulok.We also encourage you to explore the latest issue of Bank, featuring our article titled "Open Banking and API – From Necessity to Value."In the article, we discuss the key benefits of API implementation in banking...

Artificial intelligence and the future of the insurance industry at the XXVI Congress of Brokers

Picturesque Mikolajki once again hosted the XXVI Congress of Brokers, organized by the Association of Polish Insurance and Reinsurance Brokers. The theme of this year's event was "Artificial Intelligence and Us," which prompted numerous discussions about the role of AI in the future of the insurance sector.For the VSoft Insurance Broker team, the congress theme was of particular importance. On the spot, our experts Anna Kurek-Płaneta, Milena Kaminska and Magdalena Ojczyk-Fornal had the pleasure of presenting the VIB program, which is an excellent example of how technology can support the work of brokers in their daily work.The congress was an excellent opportunity to meet with representatives of the insurance industry. We had numerous discussions and exchanged experiences, which allowed us to better understand the needs and challenges that brokers face. These interactions are extremely valuable to us, as they help us adapt our solutions to the real needs of the market.The XXVI Broker Congress highlighted tha...

Real Application of AI in the Polish Banking Sector – BankTech 2024

This year's edition of BankTech focuses on artificial intelligence and its practical applications in banking. Together, we will determine the current technological development level of the sector.Main Topics:Artificial Intelligence in Banking: Discussion on practical applications of AI, technological aspects, and regulatory challenges.CIO Debate: A discussion with board members responsible for technology and digitization in Polish banks.Award Ceremony: MF BANK Ranking of Banks in Poland 2023 by “Miesięcznik Finansowy BANK.” VSoft will be represented at the conference by Alicja Skowronek-Dzierwa, Product Manager, and Paweł Gajewski, Analyst.Participants will receive a report created by ,,Miesięcznik Bank”, featuring an interview with Michał Jurkowski, Vice President of VSoft, on the application of low-code technology in the banking sector.📅 We encourage you to register on the organizer's website: https://konferencje.bank.pl/banktech-2024/Banking is an industry where we have extensive experience i...

Technological trends in debt collection

Change is a hallmark of our times. Although it might seem that we are accustomed to dynamically changing conditions and have the ability to adapt quickly, modern realities force organisations to be even more flexible. This trend is particularly evident in the debt collection industry, which is evolving strongly, making the technological perspective in this sector increasingly interesting. Automating debt collection processes nowadays is the order of the day, which translates into the quality of customer service and its improvement.Automation and robotisation, communication, digitization of courts, AI, scoring or data analytics ensure not only faster decision-making, but also the selection of an individual strategy tailored to a particular client. Why is it worth following trends in debt collection? The high competition of debt collection companies, growing debt of consumers and businesses, resulting both from the difficult economic situation and changes in habits (for example the growing populari...

Credit systems and the central system in Banks

Credit systems can be presented as a set of solutions supporting the assessment of customers, transactions and risk when making decisions whether to enter into a contract or its further course. Examples of such solutions are our VSoft Credit and VSoft Rating products. In addition, systems responsible for credit processes can connect to other systems to deepen the analysis or provide added value to the assessment, e.g. using VSoft Connectors. Where is the central system in all this? Were does its name come from? What is it and what tasks does it perform? You will find it all out in the article below Terminology and scope of activity The central system is the main application (including its modules) that manages transactions, portfolios, customer data, products, collateral, accounting and settlements in the Bank. Of course, each bank may have a different, dedicated solution tailored to the scale and scope of its operations. However, let us assume for further work that there is currently one application...