Artificial intelligence (AI) will transform the financial services sector. AI-powered virtual assistants are of particular interest because they’re well-suited to mobile services. Through applying our Intelligent Digital approach we developed a chatbot that’s opening up exciting new business and opportunities for a multinational wholesale bank.
A large multinational bank was keen to push the limits of its digital business by creating a chatbot that would allow it to experiment with machine learning. The aim was to change the way it interacts with its customers, but also to help its bankers make good decisions.
Many financial services institutions are exploring AI, but this is about more than the technology – it’s about using it well. Intelligent Digital is about combining the best of business, technological and human intelligence to solve important problems. Our extensive knowledge and experience of the sector meant we could design a virtual assistant platform that was exactly tailored to the business and its clients.
We designed and developed a powerful AI-driven virtual assistant, which helps the bank to identify potential new customers and opportunities and is transforming the way it works with its corporate clients.
The bank knew it could inject real power into its business – and take on FinTech challengers - by placing AI between its customers and technology. Its plan was to create a chatbot that could intelligently interact with customers, including a dashboard for selling new products, and the capability to manage structured and unstructured data.
Many organisations are pushing the boundaries of AI but the secret to using machine learning to its full potential is to apply the technology intelligently. In this case that meant seeing beyond the obvious, and applying a thorough analysis and understanding not only of AI but of how the FS sector works, the regulations and compliance requirements governing the business, and what the bank’s customers need.
We used our extensive knowledge and experience of the FS sector to design and develop a virtual assistant, including AI sales analytics capabilities, for the bank. The chatbot offered an easy-to-use, customer-friendly and practical solution that will allow the bank to engage with existing and new customers, grow its business and increase its profitability in a competitive, hi-tech market.
Financial Services AI Lead, PwC United Kingdom
Tel: +44 (0)7706 285028