APPLIED AI

Financial Services

Data silos, internal departments, industry regulations and data protection

Achieve real transformation with an end-to-end solution that connects data use to business outcomes

OptimalAI helps the world's leading financial institutions to achieve real AI transformation with end-to-end automation that connects data use to business outcomes.

Data Model Integration

OptimalAI enables users to access, process and store data that powers live analytics and scales operational automation.

Governance

The financial services industry operates within highly regulated governance and is duty bound to ensure their data is trustworthy and auditable. OptimalAI builds governance into every step, from access controls to tracing the lineage of data in and out of applications.

Regulatory and Risk Assessment

Banks allocate approximately 5% of their annual budgets to labour-intensive compliance of government rules and regulations. Initial regulatory reporting configurations can take years of effort and still require continual manual supervision to stay current with evolving regulations. OptimalAI can help automate compliance processes and automatically detects regulatory changes to ensure banks remain compliant. Deep learning and natural language processing shortens implementation time frames by reading compliance requirements from regulatory websites, notifying banks about updates, and incorporating changes automatically in the systems that generate reports.

Operational Decisions

Banks and other financial firms are built on thousands of functional processes that can be improved with data integration and the introduction of AI augmented decision-making.

Anti-Money Laundering

Institutions can often struggle to detect and prevent financial crime. This is compounded by digital transformation which is increasing the sophistication of attacks, and new, unregulated digital assets like cryptocurrencies that heighten risks. OptimalAI supports banks, fintech and regulators to leverage multi-layered security with AI-based anti-money laundering. We can help solve for transaction monitoring, financial intelligence units, KYC, customer and transaction risk ratings and sanctions screening. Triaged alerts are automated - with full collaboration and transparency across relevant stakeholders - for human in the loop review and escalation.

Fraud

Machine-learning algorithms can analyse millions of data points in milliseconds to detect fraudulent transactions that would likely go unnoticed by humans. They improve the precision of real-time approvals and reduce false positive results. Combining supervised and unsupervised machine learning systems, decades of transactions can be examined to calculate risk scores. By training a continuous stream of data, a baseline is established of normal banking transactions, loan applications and information for opening a new account.  Anomalies real time notify human in the loop to accept or reject alerts, which further trains the model.

Underwriting

Robotic process automation (RPA) and machine learning can expedite the loan underwriting process and improve risk assessment.  Machine learning automates document scanning across multiple data sources to accurately identify borrower candidates, assess their risk and automate - with customer authorisation - a loan decision with a human in the loop (HITL). The loan approval time can be instant.

Call Centers

Use conversational AI agents in call centers to supplement human agents during peak traffic times. AI agents engage in personalised discussions with customers by tapping into data sources that include customer data, social media, current economic conditions, historical customer information, call centre patterns and more. They also optimise the routing of customer calls and calculate appropriate customer hold times. The savings from the reduced ticket volume, time, and operational costs improves EBITDA.

Digital Twins

OptimalAI's digital twins span entire ecosystems to promote effective risk management, resilience and protection against supply chain disruption. We integrate traditionally siloed, cross-domain data into an end-to-end seamless environment enabling live situational awareness and optimal decision-tree predictions.

Optimal Supply Chains

Combining data-driven insights with AI-powered operational network models of the supply chain reduces cost, optimizes capital expenditure and minimizes operational expenses. This can be further enhanced by seamlessly linking IoT connected infrastructure to create real time intelligent supply chains that monitor and predict optimal decision-making.