Synechron is providing the financial services industry with their new cutting-edge AI called Neo, which will address fraud, margin call management and LCR calculations.
Synechron, a global financial services consulting and technology services provider, has announced the release Neo, their new set of AI-based solutions aimed towards helping the financial services industry with such tasks as fraud detection, margin call management and LCR calculations. Neo, according to a statement made by Synechron, “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.”
The financial sector is already seeing huge benefits from the application of AI, and Synechron is hoping that their artificial intelligence-based solutions will help to improve these institutions exponentially. Neo is built from 14 reusable applications, known as Accelerators, which will allow financial institutions to cut costs, improve client experiences, universally improve the use of AI for businesses looking to adopt the new technology, and reduce the time-to-market when applying AI to enhance their business operations.
Neo uses techniques like, “Natural Language Processing (NLP), Chatbots, Robotic Process Automation (RPA), Cognitive Machine Learning, Data Science, and Robo-Advisors,” to help these banks and other financial institutions improve their AI output and general customer service. The AI was developed using some of the most advanced AI and deep-learning techniques, and algorithms currently available such as, “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,” to name a few.
In order to develop Neo, Synechron partnered with other FinTech companies such as Quantexa, Yseop and SQREEM.