Banking AI lab by adesso provides banks with an innovation hub for artificial intelligence

Artificial intelligence in banking – what exactly is possible? How can it be sensibly used? And what is feasible without being too costly? adesso gets to grips with these questions in its new AI lab for the banking sector. Banks can use this lab to take part in solution-oriented brainstorming sessions and find out what business opportunities and added value can be tapped into by using artificial intelligence.

AI solutions require a new way of working and make different demands on companies in terms of requirements compared with traditional IT projects. At the recent “adesso digital day” on artificial intelligence, which was well attended, adesso was able to share information on the matter with a huge audience of business representatives. With the new AI lab specific to banking, the IT service provider is raising the bar: artificial intelligence is set to have an impact on all levels of the banking sector. AI technologies open up new opportunities for the modern design of processes, tasks and analyses in banking.

adesso is currently developing a series of innovative prototypes and demonstrators for various business processes in the banking sector. These allow banks to simply try out what AI approaches work for them, if any, and find out which might be suitable for implementation.

“With this, we guarantee a fast, lean development process,” says Prof. Dr Jürgen Angele, head of the adesso competence centre for AI and co-developer of the banking AI lab. “Our customers can check with us in the early phases of the project whether they are taking the right AI course and focusing on the most productive ideas. Minimum viable products (MVP), i.e. initial product versions with just enough features to be workable, make it possible to evaluate expenditure and save costs and therefore limit financial risk from the outset. This is an ideal method to efficiently drive forward innovations in the banking sector.”

In its banking AI lab, adesso demonstrates innovations for business processes such as payment matching, for example, which enables the automatic, AI-based allocation of SWIFT transactions in international payments. The system impressed a global cooperative bank to such an extent that it is currently having it integrated into its IT environment.

Prof. Dr. Jürgen Angele heads the adesso Competence Centre for Artificial Intelligence and co-designed the KI-Lab Banking. Copyright: adesso.

Microservice architectures and AI procedures, such as case-based reasoning and rule-based machine learning, form the basis for this, and they ensure the necessary transparency for regulatory investigations in the banking sector. Sales support through AI-based lead generation is currently being trialled by lending departments in the banking sector.

Virtual assistants, also known as chatbots, make up another important element of the banking AI lab. For this purpose, adesso has developed its own software module for speech and text recognition – for natural-language understanding (NLU). The system is currently being refined further by adesso in a pilot project for a major European bank. In future, bank retailers are set to use an interactive chatbot as part of their customer support, which will provide customers with information – in accordance with strict compliance and data protection requirements of course. In turn, adesso is currently trialling a virtual assistant for managing custody accounts at a direct bank. A virtual assistant made by the adesso AI lab will soon provide IT support for call centre customer queries at a major IT service provider in the financial sector.

For more information, adesso invites banks and companies to visit its AI website, rethink their business processes in line with the times and enrich their knowledge of artificial intelligence: https://ki.adesso.de/en/

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