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. With this, Synechron's Global Accelerator programs now includes over 50 Accelerators for: Blockchain, AI Automation, InsurTech, RegTech, and AI Data Science and a dedicated team of over 300 employees globally.
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.
Synechron, the global financial services consulting and technology company, announced Thursday (March 23) the launch of "Neo," a set of artificial intelligence (AI)-based tools for the financial services industry. In a press release, Synechron said that with Neo, financial institutions will be able deploy AI solutions that solve complex business challenges. "Financial institutions are looking to implement the latest technology to address real-world problems in financial services. Neo and Synechron's AI Accelerators will be pivotal in helping clients be at the forefront of technological advancement, while providing a comprehensive set of tools to ease and streamline processes. This will allow businesses to deploy technology-enabled processes that augment the role of individuals, allowing them to be elevated to higher-value business tasks," said Faisal Husain, Synechron co-founder & CEO, in the press release.
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.