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AI21 Glossary

Explore essential terms defining how AI transforms banking, risk analysis, and financial decision processes.

Agentic AI in Finance

Agentic AI in finance is a class of AI systems designed to function as autonomous agents, performing financial tasks by…

AI Impact on Customer Retention in Banks

In 2025, competition in banking is less about who has the most branches and more about who delivers the smartest,…

AI Monitoring System

An AI monitoring system is a structured set of tools and processes that observe, measure, and evaluate the behavior of…

Alternative Data

Alternative data refers to information collected from non-traditional sources that can provide insights into business, financial, or market conditions. Unlike…

Alternative Data Analysis

Alternative data analysis refers to examining non-traditional datasets to generate business insights that complement standard financial, operational, or market data.…

An audit trail refers to a chronological record of events, transactions, or changes within a system that can be traced…

Banking Automation

Banking automation refers to the use of technology to perform financial operations, administrative tasks, and customer service processes with minimal…

Basel III Compliance

Basel III compliance refers to adherence to the international regulatory framework developed by the Basel Committee on Banking Supervision to…

CCAR Compliance

CCAR compliance is a Federal Reserve requirement that ensures large financial institutions can absorb losses and maintain adequate capital during…

Compliance Technology

Compliance technology refers to digital systems and tools that help organizations monitor, manage, and document adherence to regulatory, legal, and…

Contract Review Automation

Contract review automation refers to the use of artificial intelligence (AI), machine learning (ML), and rule-based software to analyze, interpret,…

Conversational AI for Finance

Conversational AI for finance is a field of artificial intelligence (AI) that enables financial institutions to interact with users through…

Conversational AI in Banking

Conversational AI in banking refers to systems that enable banks to interact with customers and employees through natural-language queries across…

Credit scoring is a method used to evaluate the likelihood that an individual or organization will repay borrowed funds. It…

Financial Forecasting

Financial forecasting refers to the process of estimating future financial outcomes based on historical data, market conditions, and organizational strategies.…

Financial Reporting Automation

Financial reporting automation is the use of software and artificial intelligence to generate financial reports and carry out accounting processes…

Fraud Analytics

Fraud analytics is the use of data analysis techniques to identify unusual patterns or behaviors that may indicate fraudulent activity.…

Inference Pipeline

An inference pipeline is a structured sequence of steps that transforms a trained AI model into usable outputs within enterprise…

Insurance Claims Automation

Insurance claims automation refers to the use of digital systems and artificial intelligence (AI) to manage and process insurance claims…

Internal Controls

Internal controls refers to the policies, procedures, and systems that organizations put in place to safeguard resources, ensure accurate reporting,…

Key Performance Indicators for Measuring AI ROI in Banking

Banks have moved from asking whether they should use AI to asking where it creates real value and how to…

Know Your Customer

Know your customer (KYC) refers to the process organizations use to verify the identity of clients and assess potential risks…

Model Evaluation

Model evaluation refers to the process of assessing how well an artificial intelligence (AI) or machine learning (ML) model performs…

Model Explainability

Model explainability refers to the ability to describe how an artificial intelligence (AI) or machine learning (ML) system produces its…

Predictive Analytics

Predictive analytics is the practice of using historical and current data to estimate the likelihood of future outcomes. It draws…

egTRech refers to technology-based systems designed to help enterprises manage regulatory compliance more efficiently. It combines data processing, monitoring, and…

Request for Proposal (RFP)

A request for proposal (RFP) is a formal document that organizations use to invite vendors or service providers to submit…

Revenue Cycle Management

Revenue cycle management refers to the financial process that healthcare organizations use to track patient care from registration through final…

Revenue Cycle Management Automation

Revenue cycle management automation is a system that uses artificial intelligence, machine learning, and robotic process automation to manage how…

Risk modeling refers to the process of estimating the likelihood and potential impact of financial uncertainties using structured methods. In…

Sustainability Reporting

Sustainability reporting refers to the process of measuring, disclosing, and communicating an organization’s environmental, social, and governance (ESG) performance. It…

Third-Party Risk Management

Third-party risk management is the practice of identifying, assessing, and monitoring risks that arise from an organization’s external vendors, suppliers,…

Underwriting Automation

Underwriting automation is the use of digital systems to evaluate and process applications for financial products such as loans, insurance,…