Customer care and customer intelligence
Mobile and online banking achieve an elevated level of user experience when language is employed as a primary interface. Understanding language as expressed by the customer and acting upon the request achieves a high level of customer satisfaction and loyalty. The same holds true for service.
When customers express their needs within the context of their understanding, in their own words, this offers the institution a unique opportunity to satisfy the need as expressed. No matter which channel the customer is using—self service systems or live customer support—being able to respond without an elaborate or repetitious translation into the language of the bank is perceived by the customer as friendly and empathic. Customers love the experience.
Compliance & Anti-Money Laundering
Financial institutions are constantly under scrutiny by the government and are required to comply with a growing set of rules in order to do business. Compliance requires not only effective information collection, but also strict adherence to procedure. Expert System’s cognitive software for search and text analytics can ensure compliance while reducing administrative costs.
When evaluating the risk profile of a request for financing there are many considerations beyond the balance sheet and income statement. When financing is closely associated with the quality of leadership, leadership conduct becomes an increasingly significant consideration. Cogito has been deployed to understand the conduct profile of company leadership from publicly available information to reveal any factors that may indicate risk.
Money laundering is not only about financial transactions, it’s about abstract relationships connected by commerce and conducted by those who go to great lengths to appear completely legitimate. Obfuscating illegal conduct is intentional and is achieved in increasingly sophisticated ways. Cogito is extremely powerful when applied to identifying and exposing abstract relationships, which is why a growing number of financial institutions rely on Cogito technology to contribute to their anti-money laundering efforts.