WEBINAR | Regulatory Risk: Making it SMART

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Getting a consolidated view of regulatory risk data is a headache for many financial institutions. Creating senior manager and governance forum packs that bring together the latest regulatory data in an understandable way can take up days of valuable time and can overwhelm managers with their level-of-detail.

Experts from banks, hedge funds and market infrastructure providers will discuss how financial institutions can create transparency and insights from their regulatory risk data, and Leading Point will introduce their new industry-leading regulatory risk data system SMART_Dash.

Panellists will discuss:

  • The challenges of internal regulatory oversight that all financial services firms are facing
  • How businesses can create a consolidated view of their regulatory risk
  • The ways that regulatory monitoring data can be more accessible
  • An introduction to SMART_Dash; a revolutionary tool providing regulatory risk reassurance

About the panellists:

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[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure="1_4,1_4,1_4,1_4" _builder_version="4.3.4" custom_padding="6px||7px|||"][et_pb_column type="1_4" _builder_version="4.3.4"][et_pb_team_member name="Michelle Bedwin " position="Chief Compliance Officer and Partner at Coremont LLP" image_url="https://leadingpointfm.com/wp-content/uploads/2020/06/Michelle-e1593013314691.jpg" _builder_version="4.3.4" body_font_size="14px" custom_margin="0px|-10px|0px|-10px|false|false" custom_padding="0px|0px|0px|0px|false|false" border_color_all_image="rgba(0,0,0,0)"]

Michelle is an experienced Compliance Professional with twenty years experience in Asset Management, specialising in alternative funds. She is a Partner (SMF27), Chief Compliance Officer (SMF16) and Money Laundering Reporting Officer (SMF17).


[/et_pb_team_member][/et_pb_column][et_pb_column type="1_4" _builder_version="4.3.4"][et_pb_team_member name="Sarah Peaston " position="Director at Regulatory Governance Consulting Limited" image_url="https://leadingpointfm.com/wp-content/uploads/2020/06/Untitled-e1593013287613.png" _builder_version="4.3.4" body_font_size="14px" custom_margin="0px|-10px|0px|-10px|false|false" custom_padding="0px|0px|0px|0px|false|false" border_color_all_image="rgba(0,0,0,0)"]

Sarah is an industry and regulatory expert who has enjoyed a Financial Services career spanning over two decades in US, UK and European investment banking and Financial Services organisations.


[/et_pb_team_member][/et_pb_column][et_pb_column type="1_4" _builder_version="4.3.4"][et_pb_team_member name="Rajen Madan" position="CEO at Leading Point" image_url="https://leadingpointfm.com/wp-content/uploads/2020/06/Rajen-photo.jpg" _builder_version="4.3.4" body_font_size="14px" custom_margin="0px|-10px|0px|-10px|false|false" custom_padding="0px|0px|0px|0px|false|false" border_color_all_image="rgba(0,0,0,0)"]

Change leader with over 20 years’ experience in helping financial markets with their toughest business challenges in data, op models, regulatory compliance, and digital platforms.
[/et_pb_team_member][/et_pb_column][et_pb_column type="1_4" _builder_version="4.3.4"][et_pb_team_member name="Thushan Kumaraswamy " position="Head of Solutions at Leading Point" image_url="https://leadingpointfm.com/wp-content/uploads/2020/06/Thush-photo.jpg" _builder_version="4.3.4" body_font_size="14px" custom_margin="0px|-10px|0px|-10px|false|false" custom_padding="0px|0px|0px|0px|false|false" border_color_all_image="rgba(0,0,0,0)"]

Thush is an expert architecture lead with over 20 years’ experience helping the world’s biggest financial services providers in capital markets, banking and buy-side to deliver practical transformations in client data, anti-financial crime, treasury, risk, ops and finance functions, and major firm-wide efficiency initiatives.
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WEBINAR: What if business operations could be more like lego?

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What if business transformation could be more like Lego?

Brightly coloured, tactile, and with standardised connectors, Lego bricks can be easily assembled, moved, or replaced. Making changes is easy because the structure is easy to understand, and the components and their purpose visible.

Unfortunately, business operations are nothing like Lego. The complexity in relationships between business services and the dimensions of the stack of associated systems, policies, processes, controls, data and their accompanying activities makes understanding operating models the realm of specialists and specialist tool sets.

As a result, many leaders struggle to track their operating models or digitally transform their business due to a lack of clear information and knowledge, leading to inhibited decision-making, poor communication, wasted change budgets, and unforeseen consequences.

But what if you could lower the barrier for true business understanding?

Join us on 2nd June to understand:

  • How firms can visualise and organise their business data to find the relationships within their business that matter
  • How to easily track business performance and model ‘what if’ scenarios
  • How visualisation of critical domains and data metrics can accelerate project roadmaps and execution
  • How you can better communicate your business environment to your stakeholders

Leading Point is proud to launch modellr; a data-driven storytelling tool for change leaders. modellr's interactive interface provides an intuitive visualisation of business operations, processes and managed risk.

https://leadingpointfm.com/services/modellr/

 

 
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Event: Law, Data & Machines: How can AI reduce the cost of client repapering?

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The deadline for LIBOR is fast approaching.

Many financial institutions are struggling with their re-papering exercise and are facing similar challenges due to the sheer size, scale and scope of the problem.

Firms are under huge pressure from regulators, clients and their competitors to manage their contractual obligations more effectively:

  • Volume – The sheer volume of legal documentation to track numbers in the millons for many institutions
  • Effort – Low levels of automation and digitisation of legal workflow and processes means high no. of resources and spend on professional services
  • Spend – Current and ongoing major client documentation remediation projects such as Brexit, LIBOR, and QFC
  • Risk – Inability to track legal documentation across silos, products, or clients leads to legal, reputational, and operational risk.

Leading Point FM and iManage are hosting an industry innovation session on the use of machine learning software to automate the review and repapering of documents affected by this and other remediation projects.

Participants will be guided by leading industry practitioners on topics including:

  • De-mystifying how technology can be used in the Finance Industry and the wider use cases it solves
  • Key challenges to implementation and how to overcome them
  • The immediate and future benefits that can be gained in this approach

At this event you have an opportunity to benchmark your organisation’s approach to LIBOR and other regulations that require repapering against your peers with practitioners from the Legal, COO, and Change & Compliance sectors.

Date: 26th February 2020
Venue: City Point, 1 Ropemaker Street, London, EC2Y 9AW
Time: 16:00-18:00 followed by drinks & networking

 
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The Data Kitchen | Does data need 'science'?

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Does data need science?

There is a huge skills gap in the data landscape. Europe needs 346,000 more data scientists in 2020 for the 47% of EU organisations struggling to fill data science roles.*

Financial Services is primed to take advantage of what data science can deliver in a wide variety of use-cases like risk analytics, customer behaviour analytics, fraud detection, customer data management, algorithmic trading, natural language services – to name just a few.

However, when an estimated 70% - 85% of data science projects fail, only 20% of analytics insights deliver business outcomes, and 80% of AI projects “remain alchemy, run by wizards”, it is clear that data science is no guarantee of business success.**

Often the problems faced by organisations don’t need data science to solve. Just because your business holds unstructured data, does it need to be analysed? When Data Scientists spend up to 80% of time on "data cleaning" in preparation for data analysis, statistical modelling, & machine learning it is clear that data science/analytics aren't yet ready for self-service at the vast majority of companies.

Companies who find success with data science have a very clear idea of what they want to do with data. They think very hard about how to collect it, how to store it, how to process it, what kinds of analyses they want to perform on it, what they want to do with the results, and how to communicate the results to stakeholders.

There is a wide world of data professionals who understand that focus on the data ‘fundamentals’ i.e. quality, structure, accessibility is essential to business outcomes. Many organisations are missing these fundamentals.

So, in an environment where the skills are difficult to find and expensive to hire, ROI is hard to realise, and the data to be studied is dirty or non-existent – Does data really need science?

*Oreilly Media, 2019, Evolving Data Infrastructure

** Gartner, 2019, Gartner Top Strategic Predictions for 2020 and Beyond

 

Come to the Data Kitchen to discuss:

• What does Data Science really mean in the Financial Services context? Is there a common definition?

• How does data engineering improve the speed and quality of data scientists' work?

• Are there best practices to delivering ROI in data science in Financial Services?

• Are traditional data roles being superseded by ‘scientists’?

Why should you come?

Learn from experienced FS practitioners about how they have delivered business initiatives with data as an asset

Share ideas on how you can position yourself in the dynamic world of data

Network with like-minded people from FS, Fintech, VC’s, and Data-Innovators and gain insights on career paths

Whether you are a recent graduate, a businessperson, a technologist, a data scientist or just work on data initiatives, come along to meet like-minded people.

 

Introducing The Data Kitchen

Food | The Kitchen is where people gather to eat, drink and spend time with family. But it is also a place of work. You can do both at the Data Kitchen.

Data | The Data Kitchen is a community of people interested in, or working with, data in Financial Services. Every event focuses on a different theme related to data as an asset or data as a liability and related innovative topics within Financial Services.

Community | We aim to provide a warm, conversational atmosphere to share ideas, learn and network over drinks and hot food. Our events are free and open to everyone.

Insight | The events are a great opportunity to listen to fascinating insight on the modern developments in data-innovations, AI, DLT in the industry through experiences of FS and Fintech professionals.

Tickets are available on a 1st come, 1st served basis.

Future Events

April 2020 Burrito vs Pastry chef - Does data need to be fancy?

June 2020 Farm to table for Data - How important are your data sources?

August 2020 Data Lasagne – Many cheesy layers?

October 2020 The Data Practitioners Cookbook
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The Data Kitchen: 'Data & Risk: Have you left the stove on?'

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In our Data Kitchen event we reviewed the Cyber Security threat landscape, market trends and covered key questions regarding Information Security. It was a highly interactive session with insights on:

-        Where does Info Security fit in the organization in Fintech, Established Financial Institutions and what does the Info Security Solution Ecosystem look like

-        What role does tech play in Info Security?

-        What are the key business Data Risk challenges and focus for the next 5 years?

-        Where are the future opportunities and risk mitigation

 

The Recipe’ for tackling InfoSec problems in the rapidly evolving digital innovation landscape in financial services includes seven ingredients

  1. Culture – Cyber is not just a technology problem, it is a people problem. You cannot mitigate cyber risks with just technology; embeddin g the right culture in your people is vital.
  2. Knowing what is important – Data is expanding exponentially – you have to know what you need to protect. Only by defining importan t data, reducing the data “signal noise” and joining multiple data up can organisations look to protect it.
  3. Speed means risk – The speed of innovation is often faster than the ‘speed’ of safety. Understanding that as the world moves towards ‘real-time’, batch-processing operating models will be left behind. As technology and data adoption is rapidly changing, data protection has to keep up as well – there is little point in investing in technology until you really understand your risks and your exposure to those risks. This is increasingly true of new business-tech frameworks, including DLT, AI and Open Banking. In turn this should inform product design and business strategy of Fintech.
  4. Master the Basics – 80% of UK companies and startups are not even Cyber Essentials ready, which shows that real fundamentals are not bei ng dealt with. Larger companies are rigid and not sufficiently agile – more demands are being placed on teams but without sufficient resources and skills development. Large companies cannot innovate if they are not given the freedom to actually adapt.
  5. Collaboration – Plenty of innovative startups are created day-by-day and more to follow in the future. Large businesses need to be more open to collaborating with them to help speed up advancements in the Cyber Risk space.
  6. Technology Plays a Key Role – Emerging operating models are more open API’s Fintech, and organisations need to stitch together many poi nt solutions. Tech can help here if deployed correctly. To join up multiple data. To provide transparency of messages cross in and out of systems.  To execute and detect information security processes and controls with 100X efficiency and speed. This is material in the new world of FS.
  7. Take a holistic view of your data risk – Cyber risk (especially regarding data protection) is simultaneously a compliance problem (regul atory risk, legal risk etc.), an architecture problem (infrastructure, business continuity, etc.), and a business problem (reputational risk, loss of trust, ‘data poisoning’, competitor intelligence etc.). i.e. You can have the best Cyber Security software in the world, but it is worthless if your customer data server’s power supply is exposed on the outside of the building. There are existing risk assessment frameworks for managing operational risk (example: ORMF) – why not plug in?

Just a quick note to say thank you for your interest in The Data Kitchen!

We had an excellent turn out of practitioners from organisations including: Deutsche Bank, Lloyds Banking Group, Star Compliance Inc, Panaseer, JPMorgan, HSBC, Kubrick Group, Macquarie Group, Bank of America, Standard Chartered Bank, FinchCapital, Adjoint Inc, ICE, QVC, Flux and Mizuho at the latest Data Kitchen last week.

For our second Data Kitchen we thought our ‘chefs’ brought out some brilliant ingredients and insights from their experiences in addressing Cyber Security strategically, representing Fintech, Institutional, Investor and Tech viewpoints.

  • David Reynolds, SEED VC
  • Gary Wong, Razor Risk
  • Somil Goyal, Adjoint

…And Maître De - Rajen Madan, Leading Point FM

 We would like to thank our chef’s again and to all participants for sharing plenty of ideas on future topics, games and live solutions.

The next Data Kitchen – Does data need ‘science’? will be on the 20th Feb 2020!

Register here: https://www.eventbrite.co.uk/e/the-data-kitchen-does-data-need-science-tickets-84178635565

We are also proud to present a sequel to this Data Kitchen: Data & Risk ‘Have you left the stove on?’ for June 2020, where we will be bringing 5 high potential cybersecurity starts-ups to pitch and showcase their solutions – Stay tuned!
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24th September: Leading Point FM Presenting to AIMA on Practical Challenges of the LIBOR transition

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EVENT: 24th September, 2019

Leading Point FM in partnership with Linklaters, DRS and AIMA are briefing buy-side hedge funds and asset managers on the practical challenges they face in the transition away from LIBOR at an AIMA membership briefing.

Interbank offered rates (IBORs) play a central role in financial markets and act as reference rates to hundreds of trillions of dollars in notional of derivatives and trillions of dollars in bonds, loans, securitizations and deposits.

The FCA will no longer seek require banks to submit quotes to the London Interbank Offered Rate (LIBOR) – LIBOR will be unsupported by regulators come 2021, and therefore, unreliable. The rate is referenced by over $350trillion of existing financial products. It is instrumental in the derivatives, credit and bond markets as well as being embedded in modelling and accounting systems. LIBOR’s replacement is the largest task the financial markets have ever faced - the clock is ticking.

Please join Leading Point FM and market experts from a wide range of disciplines to discuss the challenges of the cessation of LIBOR.:
- The regulatory backdrop to LIBOR’s demise
- The size and scope of the challenge
- The new risk-free rate replacements
- The practical challenges and opportunities posed by the end of LIBOR

This event is open to AIMA members only. Please contact AIMA here: https://www.aima.org/events.html

 
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Speakers -

Nick Railton Edwards - Head of Research, DRS

Mark Brown - Derivatives and Structured Products Partner, Linklaters

Rajen Madan – Founder & CEO, Leading Point Financial Markets
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The Data Kitchen: From Ingredients to Recipe

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We had an excellent turn out on Tuesday to Leading Point FM's inaugural Data Kitchen event!

Practitioners from organisations such as: 10X Banking, LSE, Brevan Howard, Scotiabank, Legal & General, Liberum, Zercuity, Kings College, Oxford, Barclays, JPMorgan, Fundscape, Deutsche Bank, Nomura, Adjoint, Citi, UBS, IHS Markit, Consilience, LHV Bank, Capital on Tap.

We thought our panellist ‘chefs’ brought out some brilliant insights from their experiences on how to build a personal brand in their careers as entrepreneurs, data leaders, innovators, VC and business executives.

‘The Recipe’ for building your personal brand in the rapidly evolving data landscape in financial services is:

  1. Delivery – People associate you with the outcomes you deliver and your ability to help others meet their goals and commitments.
  2. Use data to support ‘the mission’ – One of the biggest weaknesses that face professionals regarding data is the ability to tell a story around what it *really* means to their audience.
  3. Communicate – Communicate with relevant stakeholders in business terms and relate the data to the business’ pain or gain.
  4. Focus on the end-user/client – Ultimately, they are the arbiter of your success
  5. Do what you enjoy! - Confidence and passion come from finding what you are good at and success will follow.
  6. Find your ‘quirk’ – Embrace the thing that makes you different. People remember your quirks and respect authenticity.
  7. Balance ‘Fail fast’ with perseverance – People shouldn’t apply ‘fail fast’ mentality to building a bridge. Some things require perseverance, planning, problem solving and delivery.
  8. Experimentation – Knowing which skills and roles fit you best is a matter of trial and error. Take on a variety of roles and see which fits best. You’ll grow in skills and capabilities. Always up-skill and re-skill as the situation and market changes.

We had plenty of ideas from the community on topics, games and live solutions for the next Data Kitchen - Watch this space!

Register interest for the October Session here: https://bit.ly/2Yx5t7T

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The Data Kitchen: Data - A Key Ingredient For Your Personal Brand

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Data - A key Ingredient for Your Personal Brand.

 

Data, Data, Data. Whether it's 'Big', 'Structured', 'Personal' or 'Meta', in a lake, silo or vault - More data was created in the last 5 years than in the entirety of human history. Whether it’s on your smartphone, excel, social media or tableau, people are interacting with more and more data every day.

Financial services and Fintechs are actively looking at ways to be more data-led businesses, unlock revenue from their data, better support their client journeys, meet regulatory requirements and manage the risks and liabilities involved in handling the sheer volume and variety of data these days. What’s important and what’s not? How do you distinguish yourself from the crowd? How do you build a career in data-led businesses?

Come to the Data Kitchen for an informal, non-technical discussion with experienced financial services and fintech professionals on how they have practically delivered business outcomes using data as an asset, and how they have grown their personal brand and career with data.

Why should you come?

  • Learn from experienced FS practitioners about how they have delivered business initiatives with data as an asset
  • Share ideas on how you can position yourself in the dynamic world of data
  • Network with like-minded people from FS, Fintech, VC’s, and Data-Innovators and gain insights on career paths

Whether you are a recent graduate, a businessperson, a technologist, a data scientist or just work on data initiatives, come along to meet like-minded people.

 

Participants include: 

 

Peter Krishnan | JPMorgan

Ieva Elvyra Kazakeviciute | Revolut

Milan Kutmutia | Deutsche Bank

Rajen Madan | Leading Point Financial Markets

 

Introducing The Data Kitchen

 

Food | The Kitchen is where people gather to eat, drink and spend time with family. But it is also a place of work. You can do both at the Data Kitchen.

Data | The Data Kitchen is a community of people interested in, or working with, data in Financial Services. Every event focuses on a different theme related to data as an asset or data as a liability and related innovative topics within Financial Services.

Community | We aim to provide a warm, conversational atmosphere to share ideas, learn and network over drinks and hot food. Our events are free and open to everyone.

Insight | The events are a great opportunity to listen to fascinating insight on the modern developments in data-innovations, AI, DLT in the industry through experiences of FS and Fintech professionals.

Tickets are available on a 1st come, 1st basis.

 

Future Events

 

September 2019 Data is brewing

October 2019 Hester Blumenthal or Hairy Biker - Does data need 'science'?

November 2019 Data & Risk: Have you left the stove on?

January 2020 Burrito vs Pastry chef - Does data need to be fancy?

February 2020 Farm to table for Data - How important are your data sources?

March 2020 Data Lasagne – Many cheesy layers?

April 2020 The Data Practitioners Cookbook

 
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Falsely Positive - Event Highlights

 

Leading Point Financial Markets hosted a roundtable event to discuss the feasibility of adopting Artificial Intelligence (AI) for Anti-Financial Crime (AFC) and Customer Lifecycle Management  (CLM). A panel of SMEs and an audience of senior execs and practitioners from 20+ Financial Institutions and FinTechs undertook a detailed discussion on the opportunity and practicality of adopting data-driven AI approaches to solve business issues AFC business issues.

The discussion centred AI solutions’ feasibility within 3 key AFC process examples, Customer Due Diligence (CDD), Transaction Screening & Transaction Monitoring. Participants attending included: Financial Conduct Authority, JP Morgan, HSBC, Deutsche Bank, Credit Suisse, Morgan Stanley, Barclays, BAML, UBS, Santander, CBA, as well as the Financial Times and a variety of challenger FinTechs.

We’ll be releasing a report of the event, including survey results of the audience, over the next few weeks – so watch this space. If you weren’t able to attend and would like a copy of the report – please take our survey and leave your email address here - https://lnkd.in/dt-Tgcp


Event: Falsely Positive - Is AI the Silver Bullet for Anti-Financial Crime?

ADDRESSING THE AFC BUSINESS CHALLENGES

 

Firms are facing huge pressure to improve their Anti-Financial Crime (AFC) capabilities in 2019 across fraud, cyber, AML, sanctions, data security, ABAC.

The combination of new and evolving regulation, firms’ operational complexity and increases in cyber crime have led to dissatisfied clients, poor risk management, massive compliance costs and increased competition from challenger banks.

This situation is only getting worse as shortage of expertise, cultural resistance to change, and depleted internal resources create barriers to digital transformation in a fragmented solutions marketplace.

Maturing Artificial Intelligence (AI) technology is being positioned as ‘the answer’ - some estimating it can reduce costs in AFC by as much as 47%.*

*Autonomous, April 2018, “Machine Intelligence & Augmented Finance” “There is no question that AI shows great promise in the long term – it could transform our industry…”

Rob Gruppetta,
Head of Financial Crime, Financial Conduct Authority (FCA)
Nov 2018

 

HOW CAN DATA-DRIVEN AI APPROACHES HELP?

[AI] has the potential to slash the costs of the [regulatory] challenge … by reducing false positives in monitoring systems and redirecting the efforts of human experts to other, more productive, areas

World Economic Forum,
Jan 2019

 

What outcomes do organisation stakeholder groups seek from their Client Journey, Risk Management and AFC Operating Models?

Business: Reduce onboarding and maintenance bottlenecks to accelerate timelines and improve client journeys, enable data-driven granular understanding of clients.

COO & CTO: Improve the efficiency, accuracy, and adaptability of screening and transaction monitoring workflows to provide efficiency gains and improved KPIs.

Regulatory & Compliance: Automate governance of complex models and reporting tools to support regulatory review and put compliance in the front-line

Risk Management: Segment clients according to contextual and transactional behaviour to better evaluate emerging AFC threats and improved risk thresholds

 

HOW CAN FIRMS GRASP THE AI OPPORTUNITY?

How can organisations grasp the AI opportunity? Is AI a Silver Bullet or a Red-Herring?

What best practices and practical implementation insights are available for organisations to up their game in client digital journeys, risk management & AFC?

An executive workshop of leaders & practitioners from Business, CIO, COO, AFC and Change will assess the opportunity of adopting data-driven AI approaches and discuss practical ways to solve business issues related to AML / AFC. Whether you are an AI skeptic, evangelist or pragmatist, attend this session to:

  • Understand AI and how it relates to AFC, Client Journey & Risk Management
  • See 3 core business use cases of AI in action with live solutions
  • Understand how to structure the implementation journey & pitfalls to avoid

1. Understand the business challenges & where you can up your game in AFC?

2. Live solutions: 3 core AFC business use cases with AI

3. How to remove barriers & implement with success