The Power of AI in
Investment Banking
The Future of Wealth Management
Overview
The power of AI in investment banking is already taking the industry by storm. To date, artificial intelligence and machine learning have facilitated in reducing risk and fraud, enhancing marketing, improving underwriting, high net-worth wealth management, fund accounting, and upgrading customer service-and this is just the beginning.
Established as a leader in banking, our client (a leading bank in the USA) has been a financial staple for over a century. Our client provides multiple services for their patrons, such as banking and advising. Whether it’s for providing strategies in order to help clients expand, helping institutions respond to market volatility, or providing capital to refinance debt for an organization, our client is committed to keeping customer service their top priority.
There was a time when the banking and financial services sector could get by without the implementation of artificial intelligence (AI) and machine learning (ML). Only hedge funds would use AI and ML to create models based on large data sets, but now the advancement of emerging technological solutions has made their implementation a necessity for all sectors of the financial sphere, and that’s specifically why a leading bank in the USA contacted Dash Technologies.
Overview
The power of AI in investment banking is already taking the industry by storm. To date, artificial intelligence and machine learning have facilitated in reducing risk and fraud, enhancing marketing, improving underwriting, high net-worth wealth management, fund accounting, and upgrading customer service-and this is just the beginning.
Established as a leader in banking, our client (a leading bank in the USA) has been a financial staple for over a century. Our client provides multiple services for their patrons, such as banking and advising. Whether it’s for providing strategies in order to help clients expand, helping institutions respond to market volatility, or providing capital to refinance debt for an organization, our client is committed to keeping customer service their top priority.
There was a time when the banking and financial services sector could get by without the implementation of artificial intelligence (AI) and machine learning (ML). Only hedge funds would use AI and ML to create models based on large data sets, but now the advancement of emerging technological solutions has made their implementation a necessity for all sectors of the financial sphere, and that’s specifically why a leading bank in the USA contacted Dash Technologies.
Challenges
Amid COVID-19, a leading bank in the USA had to adjust and re-evaluate their plans to see how emerging technologies could benefit their banking processes to better serve their clients. From financial monitoring and investment predictions to client data management, our client wanted to fully transform their offerings to not only offer the best service to their customers but to ensure their clients made the best possible ROIs.
After weeks of review, interviews, and meetings, A leading bank in the USA chose Dash Technologies Inc. as their AI & ML partner based on Dash’s long-running commitment to creating an end-product through internal teamwork and external collaboration and Dash’s reputation of finding the right combination of artificial intelligence (AI) and machine
learning (ML) solutions for clients.
There were specific processes a leading bank in the USA wanted Dash to develop:
- A Robo-advisor solution that uses clients’ responses to an online questionnaire to understand their risk tolerance and investment goals.
- Help large trading firms to strengthen their risk management techniques by centralizing the risks that arise from various parts of their businesses.
- Browse thousands of documents rapidly to check non-compliant issues without any manual intervention.
- Assess customers’ risk profiles and identify the optimal prices to quote with the right insurance plan.
- Intelligent algorithms that are able to spot anomalies and fraudulent information in a matter of seconds.
- On-premise machine intelligence solutions for enterprises and organizations to solve complex challenges.
- A virtual financial assistant that integrates with Google Home, SMS, Facebook, Amazon Alexa, Web, and Mobile to provide customers with more convenient banking.
- Wealth management with client engagement, product and pricing, client experience, productivity, and operational efficiency.
Challenges
Amid COVID-19, a leading bank in the USA had to adjust and re-evaluate their plans to see how emerging technologies could benefit their banking processes to better serve their clients. From financial monitoring and investment predictions to client data management, our client wanted to fully transform their offerings to not only offer the best service to their customers but to ensure their clients made the best possible ROIs.
After weeks of review, interviews, and meetings, A leading bank in the USA chose Dash Technologies Inc. as their AI & ML partner based on Dash’s long-running commitment to creating an end-product through internal teamwork and external collaboration and Dash’s reputation of finding the right combination of artificial intelligence (AI) and machine
learning (ML) solutions for clients.
There were specific processes a leading bank in the USA wanted Dash to develop:
- A Robo-advisor solution that uses clients’ responses to an online questionnaire to understand their risk tolerance and investment goals.
- Help large trading firms to strengthen their risk management techniques by centralizing the risks that arise from various parts of their businesses.
- Browse thousands of documents rapidly to check non-compliant issues without any manual intervention.
- Assess customers’ risk profiles and identify the optimal prices to quote with the right insurance plan.
- Intelligent algorithms that are able to spot anomalies and fraudulent information in a matter of seconds.
- On-premise machine intelligence solutions for enterprises and organizations to solve complex challenges.
- A virtual financial assistant that integrates with Google Home, SMS, Facebook, Amazon Alexa, Web, and Mobile to provide customers with more convenient banking.
- Wealth management with client engagement, product and pricing, client experience, productivity, and operational efficiency.
Solution
To provide the best solutions specific to a leading bank in the USA, Dash Technologies took a comprehensive approach to analyze the types of businesses and clientele who worked with the financial institution, as well as common practices and existing technologies our client had already implemented into their banking system.
After Dash’s subject matter experts and DevOps team discovered key takeaways and a plan of action, they developed several solutions:
- ML-enabled wealth and portfolio management system with digital algorithm-driven platforms based on the goals of customers
- Personalizing customer experiences through chatbots, search engines, mobile banking, and financial health analytics
- Deeper datasets than ever before
- Rapid evolution of Robo-Advisor capabilities as the tech advanced from version 1.0 to version 4.0
- Portfolio-rebalancing, asset allocation, and service quality optimization
- AI tools to protect against both internal and external threats
- Handling risk management by incorporating AI models based on big data
- The elimination of long authentication processes
- Reducing workload by implementing ML algorithms
Features and Specifications
Specific features of the solutions Dash Technologies provided:
-Robo-advisors
Digital algorithm-driven platforms predict the best alternatives for investment portfolios based on the goals established by the customer. Robo-advisors allow both customers and financial enterprises to save money and improve security through the smarter allocation of resources.
-Wealth Management
A curated selection of financial and investment advice, based on the customers’ known preferences, risk tolerance, and experience level. With the implementation of a new AI-powered system, our client can analyze the salary, savings, and spending data of customers and draw patterns to formulate customized financial plans catering to a specific individual’s needs.
-Custody Operations
With the help of AI/ML, safely and securely keep up with the securities (such as shares) of their clients and provide data setup and analytics to decide on the best course of action for making additional income.
-Regulatory Compliance
AI can leverage Natural Language Processing (NLP) technologies to scan legal and regulatory documents for compliance issues. As a result, it is a scalable and cost-effective solution because AI can browse thousands of documents rapidly to check non-compliant issues without any manual intervention.
-Customer Service Improvement
Omnichannel, immediate and intuitive offerings via different communication channels – chatbots, mobile app, in-person verbal communication, etc are more accessible to customers.
-AI-Powered Fraud Detection
Dash Technologies’ machine learning models are allowing the software to effectively distinguish between real consumers and bots. AI-enabled bots to detect compromised login credentials, alerting both customers and companies to security breaches instantly.
-Virtual Assistants
The assistant provides services ranging from simple knowledge and support requests to personal financial management and conversational banking.
Results
Through a collaborative approach and Dash’s agile methodology, a leading bank in the USA was able to implement a more advanced, technologically adaptive system of solutions for their clients. From their new and improved mobile application to their ML-powered models, our client invested in emerging technologies to ensure they would still be a leader in the world of banking. As we are expert in:
Digital banking
experience
Conversational AI and banking chatbot technology
Data collection and
analysis
Understanding complex
regulations
Data
Security
Cognitive process
automation
Realistic interactive
interfaces
Robotic automation of
processes
Dash Technologies continues to act as a catalyst for change in this industry-essential arena, helping clients understand the impact of AI in Banking. We help banks that are willing to transform and be a part of this new age of artificial intelligence.
Solution
To provide the best solutions specific to a leading bank in the USA, Dash Technologies took a comprehensive approach to analyze the types of businesses and clientele who worked with the financial institution, as well as common practices and existing technologies our client had already implemented into their banking system.
After Dash’s subject matter experts and DevOps team discovered key takeaways and a plan of action, they developed several solutions:
- ML-enabled wealth and portfolio management system with digital algorithm-driven platforms based on the goals of customers
- Personalizing customer experiences through chatbots, search engines, mobile banking, and financial health analytics
- Deeper datasets than ever before
- Rapid evolution of Robo-Advisor capabilities as the tech advanced from version 1.0 to version 4.0
- Portfolio-rebalancing, asset allocation, and service quality optimization
- AI tools to protect against both internal and external threats
- Handling risk management by incorporating AI models based on big data
- The elimination of long authentication processes
- Reducing workload by implementing ML algorithms
Features and Specifications
Specific features of the solutions Dash Technologies provided:
-Robo-advisors
Digital algorithm-driven platforms predict the best alternatives for investment portfolios based on the goals established by the customer. Robo-advisors allow both customers and financial enterprises to save money and improve security through the smarter allocation of resources.
-Wealth Management
A curated selection of financial and investment advice, based on the customers’ known preferences, risk tolerance, and experience level. With the implementation of a new AI-powered system, our client can analyze the salary, savings, and spending data of customers and draw patterns to formulate customized financial plans catering to a specific individual’s needs.
-Custody Operations
With the help of AI/ML, safely and securely keep up with the securities (such as shares) of their clients and provide data setup and analytics to decide on the best course of action for making additional income.
-Regulatory Compliance
AI can leverage Natural Language Processing (NLP) technologies to scan legal and regulatory documents for compliance issues. As a result, it is a scalable and cost-effective solution because AI can browse thousands of documents rapidly to check non-compliant issues without any manual intervention.
-Customer Service Improvement
Omnichannel, immediate and intuitive offerings via different communication channels – chatbots, mobile app, in-person verbal communication, etc are more accessible to customers.
-AI-Powered Fraud Detection
Dash Technologies’ machine learning models are allowing the software to effectively distinguish between real consumers and bots. AI-enabled bots to detect compromised login credentials, alerting both customers and companies to security breaches instantly.
-Virtual Assistants
The assistant provides services ranging from simple knowledge and support requests to personal financial management and conversational banking.
Results
Through a collaborative approach and Dash’s agile methodology, a leading bank in the USA was able to implement a more advanced, technologically adaptive system of solutions for their clients. From their new and improved mobile application to their ML-powered models, our client invested in emerging technologies to ensure they would still be a leader in the world of banking. As we are expert in:
Digital banking
experience
Conversational AI and banking chatbot technology
Data collection and
analysis
Understanding complex
regulations
Data
Security
Cognitive process
automation
Realistic interactive
interfaces
Robotic automation of
processes
Dash Technologies continues to act as a catalyst for change in this industry-essential arena, helping clients understand the impact of AI in Banking. We help banks that are willing to transform and be a part of this new age of artificial intelligence.
About Dash Technologies
Dash provides Development as a Service (DaaS), delivering programming and coding on a project basis that connects machine learning, data science and artificial intelligence to apps, websites, existing products, or future concepts.
Whether you’re a start-up or a Fortune 500 company, we’ll deliver programming and coding tailored to your project, so you can focus on the vision—and let us handle the execution. Want to see what we can do for you? Contact us at info@dashtechinc.com.