Synechron Inc, the noted global financial services consulting and technology services provider, this week announced the launch of their Artificial Intelligence Data Science Accelerators for the Banking, Financial Services and Insurance (BFSI) firms. These four new solution accelerators will help financial services and insurance firms solve complex business challenges by discovering meaningful relationships between events that impact one another (correlation) and cause a future event to happen (causation).
Following the success of Synechron’s AI Automation Programme Neo, Synechron’s AI Data Science experts have developed a powerful set of accelerators that allow financial firms to address business challenges related to investment research generation, predicting the next best action to take with a wealth management client, high-priority customer complaints, and better predicting credit risk related to mortgage lending. The Accelerators combine Natural Language Processing (NLP), Deep Learning algorithms and Data Science to solve the complex business challenges and rely on a powerful Spark and Hadoop platform to ingest and run correlations across massive amounts of data to test hypotheses and predict future outcomes, said the company in an official statement.
The Data Science Accelerators are the fifth Accelerator program Synechron has launched in the last two years through its Financial Innovation Labs (FinLabs), which are operating in 11 key global financial markets across North America, Europe, Middle East and APAC; including: New York, Charlotte, Fort Lauderdale, London, Paris, Amsterdam, Serbia, Dubai, Pune, Bengaluru and Hyderabad. With this, Synechron’s Global Accelerator programs now include over 50 Accelerators for Blockchain, AI Automation, InsurTech, RegTech, and AI Data Science and a dedicated team of over 300 employees globally. They also demonstrate Synechron’s commitment to research & development, innovation, and upskilling employees.
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The AI Data Science Accelerators include:
- Syn-AI and Causality – is a powerful Data Science platform that ingests large volumes of structured and unstructured data and powers the business case Accelerators. It uses the latest advancements in parallel computing and delivers a scalable platform for rapidly-analyzing massive data collections and identifying meaningful Granger Causal relationships.
- Visual Research – automatically generates personalized buy- and sell-side research reports with automated data collection, synthesis, and analysis, lowering costs while enabling systematic research not possible with manual processes.
- Informed Investing – allows wealth managers to receive alerts for critical events related to the assets they manage such as geopolitical and sector events that impact security prices and buy/sell recommendations.
- Customer Complaints Management – identifies the factors driving customer complaints and prioritizes each claim by the likelihood of being disputed or escalated to enable banks to more quickly and proactively resolve the most critical complaints.
- Credit Risk – empowers banks to manage their credit portfolios proactively, enabling users to drill down into the factors driving likely credit events and to proactively manage individual risks ranked by probability of incurring a specific credit event.
