Smart Banking with AI

Leveraging AI to augment your current technology can provide banks with the ability to make decisions on the ‘next best action’ and thereby achieve the best possible goal in a given context such as highest possible revenue or highest level of engagement. Improve efficiency and outcomes in functional areas such as – evaluating creditworthiness with predictive risk-scoring, customer service, fraud detection and customer acquisitions.

Use-Cases

Creditworthiness

AI based analysis of a potential borrower’s data takes into consideration a range of relevant factors for each borrower and provides more powerful insights into predicting a highly personalized risk score. AI powered solutions allow for making better risk decisions and conduct more accurate risk credit assessments.

Fraud Detection

Improve your fraud detection percentage with intuitive Machine Learning systems that scan for anomalous patterns and detect fraudulent transactions. Machine learning systems continuously learn and adapt to newer types of risks identified. Suspicious activities raise flags that can delay the transaction until verified.

Customer Segmentation & Acquisition

Improve acquisitions with a personalized approach based on AI inferences. Micro-segmentation of the customer pool with context management provides actionable data for predicting customer behavior and needs. This actionable data provides specific pointers to increase customer acquisitions in addition to boosting cross-selling and up-selling for better RoI.

Scenario Prediction & Causal Inference

Optimize outcomes through AI applications that allow predictive simulations of how a scenario will unfold based on actions taken such as lowering interest rates or opening a branch in a specific city, etc. This drives better decision-making that leads to better products, services and outcomes.

Customer Service

Improve customer experience with omni-channel AI solutions that optimize processes for quicker turnarounds with significant cost savings. Predict customers’ needs with programmed IVR systems, email responders, web Q&A or chatbots so you can serve them better.

Forms/Document Recognition

AI applications with form/document recognition, handwriting recognition and signature validation capabilities can process documents, checks and forms much faster than manual processing with notable cost savings and short turnaround time.

Although AI is still in its nascent stages, it has incredible potential to transform your business. 80% of executives believe AI boosts productivity. (Business Wire)