The interest in AI among CIOs of banking and investment services is close to the peak of hype right now. The Cool Vendors in this document are applying AI-based technologies in ways that target the pain point of managing risk in banking. They are creating financial services tools that are targeting banking and investment services institutions to manage risk assessment. These vendors are applying natural-language platforms, machine learning, deep neural networks and text analytics to areas of banking and investment service activities that didn’t apply AI traditionally.
Highlighting this, we recently published our ‘Cool Vendors in AI for Banking and Investment Services, 2018’. We showcase the potential of these four vendors and how they will disrupt banking and investment services that are applying AI-based solutions for risk management in banking.
These are our four Cool Vendors in AI for Banking and Investment Services, 2018:
- Amenity Analytics employs a unique approach to leveraging unstructured data sources to derive critical investment or risk indicators.
- Dataminr detects, qualifies and classifies real-time events and discovers critical events ahead of other existing systems.
- Onfido has an image analytics platform that is used to verify people’s identity in real time to prevent fraud.
- ZestFinance’s tools help underwrite credit and help make credit models more explainable.
These companies and many of their peers are emerging who are working on solutions that have wide-ranging applications and solutions in this industry. With the decreasing cost of computing power, the wide availability of data and sophisticated algorithms, the popularity is not going to decrease anytime soon.
Read my note here.