Financial Services

Reinvent every critical business process from evaluating and pricing risk to personalizing the customer experience. 

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Why AI Now

Financial institutions are under relentless pressure. Emerging competitors and disruptive technologies are changing how and where people spend, save and invest. Criminal perpetrators have become so advanced it’s hard to keep ahead of fraud and cyber attacks. Regulatory demands require a frenetic pace of self-analysis and reporting. Robotic process automation promises such a dramatic impact to cost structures they can’t be ignored. RapidMiner enables financial services companies to do more than just withstand these pressures. By harnessing the power of AI with RapidMiner, financial companies can reinvent every critical business process from evaluating and pricing risk to personalizing the customer experience.

Financial Services Use Cases

Mobirise

Drive Revenue

1. Expand customer relationships       through targeted up-sell &               cross-sell

2. Reduce churn by predicting at-     risk customers in time to                   proactively prevent attrition

3. Launch compelling new                   products and services based on     insights into customers’ hidden     needs and wants

4. Forecast economic conditions       with sophisticated scenario             modeling

Mobirise

Cut Costs

1. Streamline operations by                 determining the optimal e               execution path for every                   process

2. Reduce settlement errors by           monitoring transactions for             early detection of problems

3. Reduce false-positive AML             cases by more precisely                   classifying suspicious                       transactions

4. Comply more easily with KYC          lifecycle requirements by                  predicting customer behavior        outliers

Mobirise

Avoid Risks

1. Reduce bad debt through early       identification of problem signs

2. Increase visibility into portfolio       risk by predicting default                 probabilities
  
3. Prevent rogue trading with              integrated communications            and trade surveillance

4. Improve cybersecurity by                 prioritizing attack investigation       and remediation efforts with AI

Business Value

A mortgage lender monitored customers’ social media and other digital behavior for signals of possible churn, and increased retention with tailored, timely offers.

An international payments provider analyzed the flow of money wired across borders and launched successful, new products that at helped customers repatriate earnings.

A major bank automated the process of detecting transaction errors and alerting staff, reducing the remediation and settlement time from days to hours.

A bank used text analytics to prioritize and route support cases, increasing self-service, reducing resolution time, and boosting customer satisfaction.

An international asset management firm predicted default risks for loans and optimized portfolio trading strategy, decreasing risk and increasing profit.

A global bank used detailed behavioral analytics to create a more holistic trade and communications surveillance program to better predict rogue trading.

Let's talk about how data science can help your organization reinvent your business processes to drive revenue, cut costs, and avoid risks.

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