Whatever your goals, the technology you choose will make a difference.
In order to grow deposits, elevate customer experience, improve efficiency ratio, power the digital marketers, prevent credit card fraud, deploy a world-class call center - in other words, offer the digital banking experience comparable to that of large or challenger banks - the fastest and cost-effective way is AI/ML and agile FinTech solutions.
Deposit Growth
Every financial institution wants to grow its assets under management, and banks are focused on growing their cheapest form of funding - deposits. Perspective customer targeting, and mining existing unstructured and structured customer data are two areas that benefit from the application of machine learning methods.
AlphaMille brings a patented AI/ML robotic process automation solution that can be immediately deployed in a way that is customized and proprietary to each bank. Its result is a deep insight into its customer - both retail and business - that is gleaned based on publicly available information.
Marketing Automation
AlphaMille deploys AI/ML tools to get insight and also improve brand affinity across geographic and ethnically diverse neighborhoods.
The same tools can be used to improve customer engagement.
Marketers employing these tools will either improve the productivity of their existing tasks, or be able to take on additional tasks. For example, by using any video feed, a marketer can extract key elements directly from the video stream, including person, age, objects, spoken words, and on-screen text. We use elements from our customer’s business logic to create tuned video shots with descriptions; the automated clips can be easily published to the customer’s various social channels.
FinTech Partnerships
FinTech partnerships bridge product gaps and create a digital customer experience that matches the top-of-the-line offerings of large and challenger banks.
For example, a full suite of wealth management products, even when the products themselves are being sold by a third party, provides customers with a convenience of a one-stop shop. What used to be done by Mint and similar account aggregation and budgeting tools, can now be done at a fraction of the cost with AI-enabled solutions. Other tools provide the convenience of integrated online account opening, digital banking solutions, loan process automation, et cetera. Integrations with account validation tools including Plaid are small projects that provide a high value added in terms of improved customer experience.
AlphaMille helps clients evaluate existing product gaps and close them.
Credit Card Fraud Detection
Unauthorized card operations hit an astonishing amount of 16.7 million cases in 2017. Credit Card Fraud Detection with Machine Learning is a process of data investigation by a Data Science team and the development of a model that provides the best results in revealing and preventing fraudulent transactions. This is achieved through bringing together all meaningful features of card user transactions, such as Date, User Zone, Product Category, Amount, Provider, Client’s Behavioral Patterns, etc. The information is then run through a subtly trained model that finds patterns and rules, and can classify transactions into being fraudulent vs. legitimate. Large banks, including JPMC, use fraud monitoring and detection systems.
Enhanced Detection of ATM Fraud and Skimming
Banks will finally get answers to how long customers wait in line for tellers or ATMs, proactively recognize threats, improve the speed and accuracy of in-house and audit investigations, produce improved details and quality of evidence for law enforcement purposes, use enhanced detection of ATM fraud and skimming, improve employee training with realistic course materials, et cetera.
ESG Reporting
ESG data is not available for every single metric that a bank or a lender might be interested in tracking. Moreover, regulation is still being developed.
AlphaMille offers proprietary, yet customizable solutions that can be applied to collecting and reporting ESG data that is not available as a data feed.
Conversational AI
AlphaMille implements a multi-award-winning multi-modal Conversational AI platform offering seamless service in 86 languages.
It currently powers 10 million sessions per month, and it can significantly reduce your operating expenses and improve customer experience.
For anyone tired of pressing “1” for this, and “2” for that, a conversational AI platform allows the customer to simply state what they want, and get immediate help. Allocating call center staff to truly complex inquiries will result in faster and more efficient services, with greater customer and employee satisfaction. Read more.
Leadership Development. Diversity, Equity & Inclusion
Embed organizational sustainability, creativity and productivity by providing consultancy services, including
Identifying driving and restraining forces through the application of Personality Assessments
Assuring good staff governance, and organizational compliance with regulatory requirements
Facilitating critical conversations and leading conflict resolution processes
Managing talent and succession planning through developing individual and organizational capability, adaptability and resilience.
Read more.