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
Commercial
Campaign Optimization
AI-enabled CRM and
Sales Team effectiveness
Pricing &
Promotion Analytics
Retail
Engagement Analytics
Cross/Upsell Suggestions
Intraday Liquidity Management
Products
Research Services
Asset Pricing
Management Analysis &
Optimization
Transactions
Predictive Cash &
Payments Management
Treasury Function Optimization
Anti-Money Laundering
Middle/Back Office
Credit Approval Process
Optimization
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
Email Classifications in the insurance
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.
Bank J. Van Breda & Co
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.
