Posts Category: Banking

Effective Chatbot Deployment Strategy in Banking

Posted By Nishant Gupta on 10/October/20 in Banking

Multiple researches show that chatbots are relatively over-hyped in the marketplace and shown in the press to make banks appear more modern and convenient to customers. In reality, most chatbots in banking are pilot projects with little or no evidence of ROI. Risk-related banking functions such as fraud detection are easier use-cases of AI than conversational […]

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A Global Award-Winning AutoML Platform – DriverlessAI for Financial Institutions

Posted By Aniket Narayan on 9/September/20 in Artificial Intelligence,Banking

It’s great to take the world by the storm with our partners Their Driverless AI platform combined with our BFSI intensive domain expertise is enabling banks and financial institutions to maximize their ROI’s. What Does Driverless AI Do? Driverless AI makes automating the rote data science process feasible. With Driverless AI, data scientists can […]

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What types of decisions are best suited for automated decision-making in BFSI?

Posted By Sneha Jain on 9/September/20 in Banking,Decision Automation

IPL is around the corner and if you love watching cricket then you would know the importance of ‘decisions’ made in that game. It can be a boon or a bane for the team, right? Likewise, decision making in banks is a critical task. Deciding on which loan to approve, Which marketing technique to adapt […]

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Artificial Intelligence for Reducing the Impact of Bad Loans on Bank

Posted By Sneha Jain on 8/August/20 in Artificial Intelligence,Banking

The COVID-19 outbreak is not only a health crisis but also an economic shock. Economic activities have been abruptly halted by the pandemic. Nations around the world are struggling to contain the virus and its economic impacts. The pain has been felt across industries – due to lack of demand and employee layoffs, the cash […]

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Incentive Compensation Automation Solution iNCENTIVO is now – HYPERFORM

Despite widespread adoption of automation for other functions in the banks and financial institutions, incentive and compensation largely remain a manual process. About 76% of banks are still using a combination of spreadsheets, e-mail, manual processes, or homegrown systems to manage incentive and compensation payouts. And we have observed, 95% of the times there exists […]

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The 7-Step Loan Origination Process

Posted By Nishant Gupta on 8/August/20 in Banking,Decision Automation

Origination is the foremost stage of lending services that every individual must go through to obtain a loan, like a personal loan, business loan, home loan, auto loan, etc. Origination is a multi-step process, ranging from application and underwriting to disbursal of funds. Loan origination steps vary by loan type, lender policy, and multiple types […]

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Covid-19 Accelerates Banks’ Move to Digitalization

The economic crisis resulting from COVID-19 pandemic-led lockdown has brought about drastic changes in everyone’s life and the way businesses are done, including the banking industry. While there have been a lot of talks to move to a more digital banking model for almost a decade, the COVID-19 outbreak has coxed the banking sector to […]

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Top 5 ways AI is transforming the insurance industry

The insurance industry is going through a dramatic digital transformation. Technological innovations are accelerating business performance, by enabling insurers to offer better, faster and more accurate coverage. Insurance companies are implementing a wide range of digital technologies to meet ever-changing demands in the market and deliver sustainable operational efficiencies.  AI (Artificial intelligence) is one of […]

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10 ways to Craft your Sales Incentive Plans and Achieve Pathbreaking ROI!

It is not easy to achieve growth in today’s changing and challenging selling environment. Sales representatives are interacting with informed customers, who are prepared with prior research, and asked to sell new types of complex, digital products. Organizations need to find new ways to motivate all employees to improve performance and increase business value. Considering […]

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How can AI help Banks in Reducing Operational Costs?

AI implementation in the form of chatbots, digital payment advisors, & biometric fraud detections can improve customer experience & reduce operating costs

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