Can AI transform the Financial Services industry?

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AI Adoption and the Financial Services Industry

Financial Services are under pressure from all sides; There are threats from new disruptive technology-enabled competitors, increasing regulatory requirements, the pressure to simplify the client experience and, at the same time, reduce costs.

AI and machine learning represent a once-in-a-generation opportunity for FS companies to gain market share, deepen relationships, and compete for and win the best business, while efficiently complying with regulations and fighting financial crime.

The major issue has been that the most insightful data in FS is unstructured. Most CRM systems cannot manage unstructured data, which means that all of that insight is going to waste.

What if you could enhance your knowledge workers by enabling them to utilise all of the data, all of the time by recognising context, relevancy, intent and interest thus delivering vastly superior prediction and search results whilst delivering it to them automatically through a cognitive understanding of their interests and matching this with the data available?

Let Data Technology show you how we can help you transform your business using AI and Automated Machine Learning

0agree that AI will be integrated into all enterprise applications within three years

AI and Banking

Companies and consumers expect banks to understand who they are, anticipate their needs, and be ready with solutions. Banks need to deliver these solutions seamlessly across channels, offering convenient access from anywhere on any device. They need to deepen existing relationships while finding new clients in new markets and compete aggressively for the best business, rather than waiting for business to come to them.

Data Technology can help you use AI to achieve these goals by leveraging your own data about clients, how their needs have evolved, and their channel preferences.

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Challenge 1
Solution 1
Client Experience
Client Experience
Financial Market firms must work to digitize and transform for growth and operational efficiencies. By aggressively innovating and differentiating, they can secure a larger share of assets and create a next generation client experience.

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  • Determine: which client is likely to need which product or service
  • Deepen relationships: with customers
  • Anticipate: client needs and identify new needs as they arise
  • Precisely target: offers
  • Ensure: clients get the support they need when they need it
  • Use analytics: to understand client price sensitivity and preference

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Challenge 2
Solution 2
Lending
Lending
AI helps firms to reimagine their lending operations. By accelerating initiatives, leveraging their own data, and delivering bottom-line results, companies can use machine learning to improve lending models and win.

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  • Build: more precise credit models
  • Find and compete: for the business with the best risk-adjusted return
  • Actively manage: your portfolio
  • Be a leader: in small business credit with superior analytics
  • Proactively intervene: with clients experiencing financial stress
  • Forecast losses: more accurately

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Challenge 3
Solution 3
Financial Markets
Financial Markets
There are thousands of applications for automated machine learning to help ensure that financial market research and investment firms are empowered to make faster and better decisions.

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  • Reduce middle and back: office cost from process failures and error correction
  • Improve pricing: and capture the best business opportunities
  • Optimize trade: execution and routing
  • Match investment: opportunities to investors
  • Get research reports: to the right clients

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All use cases underpin increasing revenue, reducing costs and delivering excellent customer service

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High value use cases In Banking

There are hundreds of AI and machine learning applications in every function and business line in a bank. With automated machine learning, banks large and small can drive revenue growth, differentiate themselves through superior client experience, reduce operational costs while improving quality, and improve risk management effectiveness and efficiency.

Credit

Financial Crime

Client Experience

Marketing

Cash Management

Global Markets

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AI Success Stories

  • 01 / 04

    “Our AI platform allows us to build and deploy highly accurate credit default models in a fraction of the time it takes using traditional data science methods”
    Director of Mortgage Innovation

  • 02 / 04

    “We can now understand the data being fed into our models without blindly feeding everything we get into our system. The AI platform makes my fraud prevention team very effective”
    Head of Data Insights

  • 03 / 04

    “We recognise that data is at the core of our business strategy, to deliver an exceptional personalised customer experience. The AI platform transforms the economics of extracting value from this resource”
    VP of Strategy Analytics

  • 04 / 04

    “Our AI platform justifies its place by providing value and returning significant ROI for asset managers immediately”
    Head of Enterprise Analytics