AI is everywhere and it is significantly impacting our lives in ways many of us simply didn’t even know or realize. From interacting with Siri on the iPhone to getting product recommendations on a shopping site, AI is already an integral part of what we do.
The smart banks of the future should not only be driven by feature functions of their core or digital platforms but should also leverage the power of AI. Embedding AI into various user journeys such as a customer opening a new account, a sales agent assisting a corporate customer, or a call centre agent solving a customer complaint would ensure superior customer experiences.
So how can banks integrate AI into their day-to-day process flows?
Most financial institutions have vast repositories of data that have been collected from multiple systems and sources. Efficiently mining that information to gain meaningful insights and make sound business decisions to gain a sustained competitive advantage has been a challenge most face. Machine Learning (ML) will be the backbone of the smart bank of the future. ML will help banks to significantly improve customer stickiness, automate processes, and reduce risk.
i-exceed’s Appzillon enables banks to integrate ML models seamlessly into their process flows – be it a self-service chatbot or a product recommendation engine based on predictive models. Appzillon™ is an AI-enabled digital banking platform with a suite of micro AI services and pre-defined models. With our extensive knowledge of the worldwide banking industry, technical expertise, and proven implementation track record, we can help banks get a head start on their ML initiatives.
The ML capabilities of Appzillon extend to the following areas
The comprehensive application development capabilities of Appzillon coupled with its AI edge helps banks in redefining their digital footprint. As outlined in the picture below, Appzillon enables banks to seamlessly extend the services from their core systems to their own solutions or third party solutions with the help of its AI enabled digital core. The digital core consists of a dynamic framework that helps in building reusable components and flexible process flows that can be automatically adapted based on the customer usage patterns.