How banks are utilizing AI-driven Business Intelligence practices

Mike Reiner
Jul 17, 2019 · 7 min read
Image Credit: Getty Images

A short introduction to the evolution of Business Intelligence and how AI-driven BI is impacting FinTech

Based on recent conversations with various financial stakeholders about the current advancements in FinTech, topics such as regulatory pressure, impact on profitability, credit ratings, future of payments, robo-advisors, neobanks etc, and the overall increasing amount of data available, have given us insights on the current financial ecosystem and where it is potentially heading to. One thing is certain, with 2.5 quintillion bytes of data produced every single day and that number is no where close of reaching a plateau — opportunities are appearing with each new sunrise on the horizon.

Link to source

AI for Personal Finance and Insurance

(source to list)

  • Transaction search & visualization
  • Client Risk Profile
  • Underwriting, Pricing & Credit Risk Assessment
  • Automated Claims Processes

AI for Cross-Industry

  • Contract Analyzer
  • Churn Prediction
  • Algorithmic Trading — the most advanced ML you will ever see
  • Augmented research tools
  • Valuation Models
  • Visualizations
  • Reporting
  • Predictive Analytics
  • Data Mining
  • ETL (Extract, Transform, Load)
  • OLAP (online analytical processing)
  • Drill-Down
  • Automatically share reports with clients
  • Visualize inventory and sales in real-time
  • Pill data from multiple databases
  • Analyze eCommerce sales in real-time
  • Integrate with cloud computing services like AWS
  • Pull and analyze data from a CRM
  • Data mining for deep layers of analytics
  • Create embedded dashboards in a separate internal system
  • Provide historical analysis on payroll, benefits and other employee HR data
  • and many more…

A quick conversation with ING

ING has been kind enough to share with us some info to help us get an understanding of how such an organization is utilizing BI tools and how AI is now being integrated as well.

Applied Artificial Intelligence

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