Synechron Launches “Neo” – Artificial Intelligence Solutions for the Financial Services Industry Thursday, March 23, 2017 - New York, London, Amsterdam, Dubai, Pune, Singapore
14 accelerator applications use advanced AI techniques to address complex business challenges like fraud, margin call management and LCR calculations
Synechron Inc., a global financial services consulting and technology services provider, has today announced the launch of “Neo,” a set of Artificial Intelligence (AI)-based solutions for the financial services industry. Neo uniquely brings together Synechron’s digital, business and technology consulting to allow financial institutions to deploy cutting-edge, AI solutions that solve complex business challenges.
Synechron has built 14 reusable applications – Accelerators – that allow financial institutions to reduce time-to-market when applying AI to enhance business operations, reduce operating costs, and create better client experiences. Synechron’s AI Accelerators applications have taken a business challenge that can be best solved through AI and re-architected business processes to build a solution powered by artificial intelligence and optimized for user experience. The Accelerators use techniques like Natural Language Processing (NLP), Chatbots, Robotic Process Automation (RPA), Cognitive Machine Learning, Data Science, and Robo-Advisors to address a range of use cases. In addition to custom development work, Synechron has partnered with specialist FinTech firms such as Quantexa, Yseop and SQREEM.
The AI Accelerators apply some of the most advanced AI and Deep Learning techniques, and algorithms including Google Tesseract’s OCR and binarization, the NLTK platform for sentiment analysis, SARIMA for time-series data, Self-Org Maps for clustering, Deep Learning Recurring Neural Networks (RNN) for dynamic classification, Support Vector Machines for classification, R for statistical modeling and reinforced learning, multi-level Perception for classification, and Apache Spark for big data and machine learning. They also draw on deep financial services expertise, and foundational programming languages and tools including OpenNLP, R, Python, Jflex, PDFBox, MS LUIS, Tessaract, Spark, Apache Solr and mongoDB, among others.
The AI Accelerators broken down by the core underlying AI technology include:
Natural Language Processing (NLP) and Generation (NLG)
Chatbots serve as either an internal virtual assistant or a frontline customer representative and have been created with an understanding of financial services business operations and systems integration expertise. The accelerators include: BankBOT for personal banking, TraderBOT for traders, LoanBOT for mortgages, and InsureBOT for insurance.
Robotic Process Automation (RPA)
Cognitive Machine Learning
Faisal Husain, Synechron Co-founder & CEO, said: "Financial institutions are looking to implement the latest technology to address real-world problems in financial services. Neo and Synechron’s AI Accelerators will be pivotal in helping clients be at the forefront of technological advancement, while providing a comprehensive set of tools to ease and streamline processes. This will allow businesses to deploy technology-enabled processes that augment the role of individuals, allowing them to be elevated to higher-value business tasks."
The AI engine, business and technical analysis at the core of these accelerators can be applied to additional use cases to progress more quickly with similar initiatives. Along with the use of the AI applications, the Accelerator Program offers access to Synechron’s team of consultants, technologists and digital teams who are experts in financial services business processes, products, regulation, operating models and data architectures which are critical to constructing affective AI applications.
Synechron is a global consulting and technology organization providing innovative solutions to the financial services industry through its three main business focus areas: digital, business consulting, and technology. Based in New York, the company has 18 offices around the globe, with over 7,000+ employees producing over $400+M in annual revenue. For more information on the Company please visit our LinkedIn community
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