Synechron the global financial services consulting and technology services provider, has announced the launch of its AI Data Science Accelerators for Financial Services, Banking and Insurance (BFSI) firms. These four new solution accelerators help financial services and insurance firms solve complex business challenges by discovering meaningful relationships between events that impact one another (correlation) and cause a future event to happen (causation). Following the success of Synechron's AI Automation Program – Neo, Synechron's AI Data Science experts have developed a powerful set of accelerators that allow financial firms to address business challenges related to investment research generation, predicting the next best action to take with a wealth management client, high-priority customer complaints, and better predicting credit risk related to mortgage lending. The Accelerators combine Natural Language Processing (NLP), Deep Learning algorithms and Data Science to solve the complex business challenges and rely on a powerful Spark and Hadoop platform to ingest and run correlations across massive amounts of data to test hypotheses and predict future outcomes. The Data Science Accelerators are the fifth Accelerator program Synechron has launched in the last two years through its Financial Innovation Labs (FinLabs), which are operating in 11 key global financial markets across North America, Europe, Middle East and APAC; including: New York, Charlotte, Fort Lauderdale, London, Paris, Amsterdam, Serbia, Dubai, Pune, Bangalore and Hyderabad.
The wealth management industry is undergoing massive changes driven by innovations from fintechs, new investment offerings and futuristic technologies like crypto currency and blockchain which stand to change the way investors think about asset ownership. Given this environment, Synechron has identified five wealth management trends to watch which are shaping the future of the industry.
Conversational AI is reshaping the financial services enterprise. In fact, more than 2 billion people are expected to be using conversational AI by this year, making the need to integrate it into new business applications increasingly pressing. To that end, 40% of virtual assistant users are expected to interact primarily with new applications that support conversational AI.
Synechron, a global financial services consulting and technology services provider, has today revealed the top trends it expects to see in financial services technology in 2018. These priorities touch on six key themes - Innovation, User Experience (UX) Design, Risk, Regulatory Technology (RegTech), Data, and the Cloud - that cut horizontally across the business and therefore are driving enterprise financial services decision-making. Based on Synechron's work with the world's largest global tier one investment banks and insurance companies, the company has identified the following top priorities for 2018. Innovation - will focus on taking proven new technologies from pilot to production Blockchain and Artificial Intelligence (AI) will continue to dominate in 2018. Where last year was focused on blockchain-pilots, 2018 will be focused on production.