Being agile enough to adapt to whatever the future may hold is a challenge for many organizations. It can be especially difficult for bigger organizations – which makes it harder to be agile – and those in industries that aren’t known for their flexibility.
Financial Services (FS) is one such sector, and our customer Standard Chartered Bank is one of the bigger FS firms within it, providing banking services to customers in almost 150 countries. Yet Standard Chartered Bank has shown itself to be highly agile in how it uses innovative technologies such as AI and Machine Learning (ML) and in how it adopts a customer-centric approach.
This agility was highlighted in a recent case study by Forrester. The analyst group focused on how Standard Chartered Bank has embraced a ‘Future Fit technology strategy’ to help reduce technical debt, speed continuous transformation, and make its business more adaptive, creative, and resilient.
There are a number of similar use cases involving some of the world’s leading FS firms’ use of AI at the forthcoming Squirro AI Week 2021.
Becoming Future Fit
Squirro’s work with Standard Chartered Bank was carried out alongside our partner Synechron. The bank had a pressing need for Relationship Managers (RMs) to find more ideas and opportunities from internal and external data.
We helped create a new platform – Client Insights – that delivered meaningful information at the right time, helping cement the relationships between RMs and their clients. It provides vast client and marketplace insights derived from the aggregation of internal and external data. It processes around 9,000 news items every day and produces 550 signals of new deals or opportunities.
This actionable insight is shared with more than 100 RMs to strengthen their relationships with around 2,500 clients. Client Insights utilizes some of the industry’s most innovative AI, NLP, and analytics technology to manage structured and unstructured data. It’s therefore a powerful example of an FS organization adopting a Forrester Future Fit technology strategy and they published a success story on this earlier in 2021.
Learn from banking customers’ AI successes
Not only did Client Insights deliver for Standard Chartered Bank, but the project was also a multiple award winner. Squirro, Synechron, and Standard Chartered Bank were named winners in the 2021 BIG Innovation AI Excellence Awards in the “Natural Language Processing” category and for “Best Digital Collaboration Project” at The Asset Triple A Awards.
Such insightful use cases are one of the cornerstones of our upcoming AI Week 2021, which takes place between 5 and 8 October. We’ve gathered an incredible line-up of c-suite speakers, including many from banking and FS, all sharing how they have used AI and ML to achieve their business goals.
Please register here if you are interested in hearing our banking and FS customers speak about this at AI Week 2021.
Alternatively, the complete Forrester Future Fit case study on Standard Chartered Bank can be seen here, or, you can view our on-demand webinar with Standard Chartered Bank here.
