The Promising Duo: Five Use Cases for Natural Language Processing in FinTech

  • “According to the recent stats, within five to ten years from now, 95% of all interactions with clients in the finance industry will be performed by AI.
  • Researchers predict a 3,150% growth for chatbots interactions in the FinTech industry between 2019-2023, which will save financial organizations over 800+ million in working hours.
  1. Intelligent Document Processing
  2. Digital Counseling
  3. Streamlined Regulatory Compliance
  4. Underwriting Automation
  5. Advanced Brand Reputation Management”

Accelerating Customer Experience With Conversational AI

  • “One such solution to consider is conversational AI and the use of text and voice-based messaging apps to automate communications between businesses and their customers. As consumers continue to make greater use of these channels, businesses can seize the opportunity to integrate conversational AI technologies.
  • To help you create an end-to-end solution, PwC has developed a modern delivery framework: AIRe (Align, Innovate, Release, Evolve). AIRe is business-led, collaborative, and aligned with the business objectives that drive predictable value, speed, focus, and agility.”

How artificial intelligence and machine learning are revolutionising eCommerce experience?

  • “Algorithms were used to generate creative descriptions of each product via optical character recognition (OCR) and image processing. With this artificial-intelligence (AI)-enabled solution and natural language processing (NLP), automated product descriptions were generated. This reduced the time spent on this task and the retailer was able to reclaim lost online sales worth $6.9 mn, annually.”

How artificial intelligence and machine learning are revolutionising eCommerce experience?

VoiceSell raises $4 million for instant voice control for mobile ecommerce

“VoiceSell enables any ecommerce retailer to instantly add a robust and fully private voice agent to any existing online store. Developed over a decade, VoiceSell uses a proprietary next-generation NLP engine to add voice to serve ecommerce vendors and customers alike.”

What will be the impact of Voice on FinTech

Photograph by onurdongel
  • “Eight in 10 consumers in PwC’s 2019 Global Consumer Insights Survey said they conducted at least one financial activity through a digital channel in the past year.
  • According to PwC estimates, roughly two-thirds of the inquiries handled by call centers concern basic customer assistance issues,
  • For instance, PwC thinks voice could reduce frontline personnel by 10 to 15 percent. It could also diminish risk for the bank, cutting human error by as much as 15 to 30 percent.”

Disrupting the disruptors: How AI and voice recognition can transform the customer experience

  • “Artificial Intelligence and natural language Machine Learning (ML) are on the verge of transforming the fabric of voice-driven customer experience through pioneering speech recognition technology.
  • Leading voice technologies, in essence, will enable businesses to automatically identify, understand and service their clients. It will help them improve the customer experience and reduce costs. FinTech companies have helped shape the future of banking, now they must embrace the future of customer communication.”