AI-Powered Banking Digital Assistant

Business needs

This software solution for banks aims to establish a cutting-edge commercial bank in the UK that leverages advanced AI solutions to enhance security and customer experience, automate routine tasks, and optimize investment strategies. 

1. Performance and Scalability: Enhance system performance, reduce latency, and ensure scalability to meet increasing user demands.
2. Modern Banking Infrastructure: Create a modern banking infrastructure with virtual financial assistant by integrating AI and machine learning technologies.
3. Key Information Extraction from the Bank Contracts: processing a large amount of unstructured data from bank contacts.
4. Conversational AI Chatbot: Develop a conversational AI-powered banking chatbot capable of assisting customers 24/7 with open bank information and requests while maintaining data security.
5. Secure and Smart Information Search for Internal Use: NLP Solution for Retrieval Augmented Generation (RAG) taking into account security concerns and on-premise service infrastructure.
6. Improve User Engagement and Attraction: Enhance user engagement via banking AI chatbot development, deliver added value to existing users, and differentiate services from competitors.

Key achievements delivered

1. The client’s financial digital assistant’s overall performance witnessed a notable enhancement through a collaborative, team-driven process.
2. The banking digital assistant’s security has been fortified, leading to improved speed, achieved by migrating to Protobuf.
3. The banking AI chatbot development and implementation of AI chatbot, together with smart filtering, proved highly effective in attracting new customers and fostering their active engagement with the services.
4. Remarkably, during the fiscal year 2022 alone, the client bank announced an impressive revenue surge of 33%.