Financial Services Industry

Artificial Intelligence (AI) and related technologies are fast making inroads into the financial services industry. Operating in an interconnected, digital world in which money moves instantly, and faced with increasingly stringent regulations, financial institutions are turning to AI to help transform their operations and meet the ever changing customer expectations.

AI / ML allows to innovateacross the banking value chain

Profitability through increased operational efficiency

Leveraging digital to increase profit margins is a huge challenge for financial service companies.

More efficient processing of information, for example in credit decisions, financial markets, insurance contracts, and customer interaction, that is realized by deploying AI solutions, contributes to a more efficient financial system.

AI, in turn, helps improve regulatory compliance and increases supervisory effectiveness. A professional and risk-controlled AI solution directly contributes to higher, operational efficiency.

Faktion Academy #Insights

Learn more about how AI can be used to automate handling of claims or other documents to optimize your processes in an intelligent manner.

Automating document processing In Finance

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Email Classifications in the insurance

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Opening new business models and opportunities for the financial industry

Not leveraging digital puts banks at risk of sheer irrelevance compared to fintech companies who provide truly personalized customer experiences by leveraging customer data.

Augmenting the human expertise with AI supported systems also opens new opportunities in building digital journeys for a growing customer base of digital natives.

AI solutions are not only able to reduce customer churn, but it also opens the opportunity to roll out new business models and user experiences, to strengthen the competitive position of financial institutions worldwide.

bankvanbreda-Jan_Vanderhallen
Bank J. Van Breda & Co

From the very first contact it was clear that Faktion didn’t care about just selling the project, they cared about results and solving the need of Bank van Breda at that time. ​

Jan Vanderhallen
IT Manager

AI solutions for Financial Services Industry

AI is clearly delivering value in multiple areas across the FSI value chain already, by optimizing internal operations and processes, by assisting in core business decisions such as investment and trading or, at the front-end of the business, by improving customer experience.

Focused AI Solutions

Contact us to learn how Faktion operationalizes machine and deep learning for retail banks, insurance and investment banks.

AI Claim Handling

Leverage AI within your straight-through claims process to reduce the number of errors and reduce manual bottlenecks, while optimizing your customer journey.

Fraud Detection

Reduce regulatory exposure, risk, and investigation costs by accurately identifying, prioritizing, and reporting suspicious activity. Flag suspicious activity while reducing the number of false positives.

Credit Risk Scoring

Reduce exposure to credit risk and loss through early identification of conditions that may affect consumer or commercial risk profiles.

Testimonials from within the industry

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AI in Financial Services Industry