Cognitive computing provides for no-touch banking automated solutions

The earliest forms of banking date back to 2000 BC, while in the United States, the first bank was established in 1791 in the city of Philadelphia. You could say that banks have had a lot of practice knowing what their customers want and how to provide it to them. Banks today are looking to banking automation in the form of cognitive computing for a'no touch' automated solution for frequent and routine requests, and to carry them out mistake-free. A report from the IBM Institute of Business Value explains that these financial institutions are in a new industrial revolution, one where they must transform and embrace new cognitive technology to reduce their costs and risk, while enhancing the value and experiences for their customers. There is a simple concept for a financial institution to both deliver a more refined customer experience as well as cut costs in customer service: eliminate the mundane.