Banks & Bots - MobeyForum · Banks & Bots The Top Areas to win Big with Cognitive Vivek Bajaj...

Banks & BotsThe Top Areas to win Big with Cognitive

Vivek Bajaj

Global Vice President, Watson Financial Services

@vivekbajaj

© 2016 International Business Machines Corporation IBM Confidential | Page 2




Rise of

Fintechs











Are people who spend a lot

after 9pm

MORE LIKELY to overdraft?








Getting Started



IDC Financial Insights: Top 10 Global Predictions


Client Insight

25


Predictive and Cognitive analytics can be woven into every customer

interaction to personalize and enhance the customer experience…

26

Customer

Segmentation

Action

Clustering

Personality

Analytics

Sentiment

Analytics

Image

Recognition

Next Best

Action

Predictive Analytics Cognitive Analytics

Internal Data Syndicated Data Social Data Device Data

With

Watson

perationsbranches

ean waiting

time

eneral calls

a day

!

4,483

~10Minutes

6,942

BenefitOutlook

OMG

Is coverage basicly for buisness days?

Previously

Registered

Slangs /

Swearing

Regionalisms

Mispelling Supression/

AbreviationProlixity

85% 70%

85% 90%

100%

70%

83% of questionscompletely understood

4,483

~10Minutes

2,222

BenefitOutlook

5,650

Less than 10Seconds

Eliminated90%

More thanexpected

perationsbranches

ean waiting

time

eneral calls

a day

OMG!


RBS installs advanced

'human' AI to help staff

answer customer queries

Announced in March, a Watson-powered AI customer assistant, called LUVO, which will integrate with its website and banking apps, launch within 12 months.

LUVO is a natural language processing AI bot which will answer RBS, Natwest and Ulster Bank customer's questions and perform simple banking tasks like money transfers.

If LUVO is unable to find the answer it will pass a customer over to a member of staff.


Mizuho Bank leverages IBM Watson to enhance personalized client

engagement in branches

• Pepper robots across take advantage of Watson's natural

language and other cognitive capabilities to analyse information

from the Mizuho website as well as customer-specific information

• This enables personalised interactions so that customers can

have a natural conversation during which their words as well as

their gestures and expressions, are understood

• Watson enabled pepper robots will free up human staff to focus

on higher value work and the bank also plans to tap Watson to

improve its mobile app and ATM services.

"The insights gained from our collaboration with Watson - and

customer interactions with our branch robots - will help us further

improve our customer service and drive innovation in the financial

space - Nobuhide Hayashi, CEO and president, Mizuho Bank


Wall Street Journal – Sept 2016

http://blogs.wsj.com/moneybeat/2016/09/09/its-not-creepy-its-the-future/

http://blogs.wsj.com/moneybeat/2016/09/09/its-not-creepy-its-the-future/


Client Insight for Banking and Wealth Management powered by WatsonDelivers deep client insight to improve client service, retention and profitability

Pre-Built

API-based

Cloud-first SaaS or On-PremCognitive Wealth Management Offering

Create dynamic, behavior

based client segments to gain

insights on product

opportunities

Prioritized list of clients

requiring immediate attention

with recommended actions

Determine client life and

financial events across the

lifecycle of the client

relationship

Prediction of client attrition

and recommended actions for

retention

Life

EventsCustomer

Lifecycle

Dynamic Segmentation

Cross-sell

Offers

9Life EventsPredicted With ~95%-98% Accuracy

42.6xLift Over Baseline Logistical Regression

30Days

In Advance

Client

Attrition

281%Better In Predicting Client Attrition Than Baseline Regression Models

BehavioralSegmentation

and Cash Flow

Pattern Identification

© 2016 IBM Corporation35

Powerful results with other financial services firms

#CognitiveInsight


Risk & Compliance

Watson FS SolutionsIBM CONFIDENTIAL

Financial Services

▪ Comprehensive regulatory

knowledge and understanding

of regulator intentions

▪ Experienced operations

leaders and subject matter

experts

▪ Expertise on how to best

address regulatory obligations

▪ Ability to reduce regulatory

burden through client specific

action plans

▪ IBM Watson Solutions for

regulatory change management,

surveillance, KYC and AML

▪ Cognitive technologies to

streamline and reduce costs of

compliance

▪ Scalable platforms for delivering

enterprise grade systems and

capabilities

▪ Large, global delivery capabilities

for integration and managed

services

Deep regulatory expertise and business process experience

Regulatory compliance solutions powered by scalable, cognitive platforms

IBM + Promontory Financial Group

End-to-EndExecution Capability

Promontory’s deep expertise combined with IBM’s technology and scalable delivery capabilities creates an unparalleled value proposition for our clients


Regulatory Compliance Analytics Powered by IBM Watson

Helps compliance specialists streamline the identification of potential obligations and controls required to

address constantly changing regulations and manage the lifecycle of implementing those controls

Regulation Ingestion

Obligation Lifecycle Management

3

1

2 4Natural Language Processing

Document Parsing

Machine LearningObligation and Control

Identification & Mapping

38


Fuse insights to detect suspicious activities

View linkages with instant drill-down & playbacks

Build employee profiles with personality & behavior traits

See alerts & investigationsfrom continuously updated risk models

Order

Trade

Execution

Reference

News

Social

Email

Chat

Voice

Reduced cost of employee non-compliance & misconduct

Faster detection of sophisticated scenarios

Risk based prioritization of alerts and reduced false

positives

Transactions

Communications

External

Su

rve

illan

ce

Trader Profiling to not only protect against risk but to identify best practice and opportunities for growth

Surveillance Insights for Financial Services


Counter Fraud & Payments

4

0


IBM Counter Fraud Management : Move seamlessly from detection to investigation

Manage the cases

• Prioritize alerts

• View information in context

• Collaborate across cases and fraud types

• Document the evidence

• Configure to fit your business needs

Powerful forensic analysis

• Identify obvious and non-obvious relationship

• Perform geospatial analysis

• Perform temporal analysis

• Use unstructured data

Manage the program

Reports and dashboards to monitor

• Program effectiveness

• Process efficiency

• Top risks


IBM Safer Payments delivers more control and transparency to combat financial crimes for all players in the payments ecosystem

Fraud prevention in any kind of cashless payment system via multiple payment and interaction channels using machine-learning

*Verified production results. False positive rates in any given scenario depend on environment, data, and risk tolerance.

Robust

Change data, models, UI,

software while running at full load without

bringing down the system.

99.999% Availability.

Fully PCI-DSS Certified.

Adaptable

Full control over models to adapt to new threats

quickly using in-house skills, no

vendor dependency –critical for new payment types with evolving

threat patterns

Effective

Ultra low false positive rates

using machine learning with real world results in

the 1:1-1:3 range*

Fast

Industry-leading real-time

performance with 1000s of

TPS throughput and latencies of <10ms on tens

of billions of transactions

Easy

Implement in weeks rather than months,

change models in minutes rather

than days or weeks

Distributed

Made to be hosted in global,

multi-jurisdictional environment

supports hundreds of concurrent

portfolios and their models with

inheritance

$


Takes a modular approach to adding a new payment rail

via a progressive modernization

approach.

Easily uncover

payment status with

pattern recognition

that delivers greater

insight into the

payment.

Minimizesoperational risk of changes to the environment

Real-time capable

payments hub

allows for deploying

new products faster

with common

monitoring and

reporting across

payments rails.

Provides superior Customer Payment Experiences

A converged, real time payments engine providing deeper insight into the payment, offering a path to payments modernization while retaining legacy systems where needed

Immediate payments, it’s

better business.

Delivers improved risk mitigation and compliance

Commercial Payments: IBM Financial Transaction Manager

$


Getting Started

Bank & BotsThe Top Areas to win Big with Cognitive

Vivek Bajaj

Vice President, Global Banking & Financial Markets

@vivekbajaj

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