The solutions, collectively called Neo, consist of 14 reusable applications or accelerators that use techniques like natural language processing, chatbots, robotic process automation, cognitive machine learning, data science, and robo-advisors to address an array of use-cases. Accelerators can tackle issues like fraud, margin call management, and liquidity coverage ratio calculations.
MUMBAI: Global financial services consulting and technology services provider, Synechron has launched'Neo' a set of Artificial Intelligence (AI)-based solutions for the financial services industry. Neo brings together Synechron's digital, business, and technology consulting to allow financial institutions to deploy cutting-edge, AI solutions that solve complex business challenges. Synechron has built 14 reusable applications – Accelerators – that allow financial institutions to reduce time-to-market when applying AI to enhance business operations, reduce operating costs, and create better client experiences. The Accelerators use techniques like Natural Language Processing (NLP), Chatbots, Robotic Process Automation (RPA), Cognitive Machine Learning, Data Science, and Robo-Advisors to address a range of use cases. The AI Accelerators enable financial industry players to solve complex data challenges, efficiently address regulatory and compliance requirements, and service growing customer needs.
Synechron Inc., a New York-based technology consulting and outsourcing firm, has started deploying data science and artificial intelligence-based applications for banking, financial services and insurance companies. These applications, or accelerators, will help financial services companies solve complex business problems by discovering relationships between events that impact one another and cause a future event to happen, the company said in a press release. Faisal Husain, co-founder and chief executive of Synechron, said the data science accelerators provide a powerful causation platform and business-driven use cases for four complex financial services challenges. Synechron said its s AI data science experts have developed a set of accelerators that allow financial services companies to address business challenges related to investment research generation, predicting the next best action for a wealth management client, high-priority customer complaints, and predicting risk on mortgage. The accelerators combine Natural Language Processing, Deep Learning algorithms and data science to solve problems.
Synechron, a global consulting and technology innovator in the financial services industry, has released the results of a survey conducted by the TABB Group for Synechron on the potential of blockchain and artificial intelligence (AI) in financial services, with respondents believing that they will have a major impact over the next 10 years. After conducting the survey with 92 banking and capital markets institutions, the findings found that there is still a perception among decision-makers that working with blockchain and artificial intelligence is in some way circumventing or changing key regulatory requirements. "Many people do not fully understand that the underlying technology is not aimed at changing the rules of compliance and regulation, but will, in fact, allow for more efficient and less risk-averse compliance with regulations," Synechron CEO Faisal Husain told Bitcoin Magazine. "The technologies are optimizing what financial institutions can achieve, not what rules they can circumvent." Husain believes that it is this perception that is the likely result of all the early hype that surrounded the use case for Bitcoin, suggesting that blockchain evangelists need to educate the markets about the realities of peer-to-peer cryptographic technologies.