Finance and banking sectors are enormous and form critical pillars of the world’s economy and are ripe for Artificial Intelligence revolution. For global banking, McKinsey estimates that AI technologies could potentially deliver up to $1 trillion of additional value each year. This includes the traditional AI solutions such as data analytics, digital banking as well as advanced AI solutions for automatic loan approval, risk assessment and even customer service chatbots. To unlock such tremendous values, finance and banking sectors ought to become ‘AI first’.In this document, we outline some products and solutions developed by Qult relevant to banks and financial companies. These products and solutions practically showcase the tremendous value that Artificial Intelligence technologies can unlock and hint at the bright future ahead for these technologies.
SelfSenseAI is an advanced analytics system which uses machine learning and data of customers and their purchased financial products to predict what products a new customer is likely to purchase. Further, it identifies novel up-sell and cross-sell opportunities. The system seamlessly integrates via API with banking apps and/or email marketing channels and results in 30% more purchases; resulting in as much as 10% more revenue for the company.
Everage Machine Learning and Artificial Intelligence to recommend financial products that a customer is 30% more likely to buy generating 10% more revenue for the company.