360Quadrants,
the world’s only comparison platform that combines expert analysis with
crowdsourced reviews, has released a quadrant on AI in
Fintech Solutions to help businesses make quicker and more informed
decisions.
Artificial Intelligence (AI) in Fintech
refers to the theory and development of computer systems capable of performing
finance-related tasks that usually require human intelligence. It is an
application of AI technology used in the financial sector to design investment
strategies, detect anomalies with pattern & voice recognition, and conduct
market analysis with data mining. The AI in Fintech solutions market for this
quadrant is defined as the summation of AI-enabled Fintech solutions and
services.
For this quadrant, the components of AI in
Fintech are mainly segmented into solutions and software. Major application
areas of AI in Fintech solutions are virtual assistants, business analytics
& reporting, and customer behavioral analytics. These solutions have been
analyzed based on cloud and on-premise deployment.
IPsoft has been
identified as an innovator in the AI in Fintech space given its extensive
product features, high product quality, reliability, suitable channel strategy,
and wide geographical footprint. 360Quadrants also lists competitors
of IPsoft in the AI in Fintech space.
AI in Fintech offerings from IPsoft aim to
deliver valuable insights and intelligence from data. The company has an
established product portfolio with a robust market presence and business
strategy. Some of the major developments of the company include:
Amelia, launched by IPsoft, is the most
Human AI
IPsoft has announced that its first
conversational solution for banking will now be generally available. This
solution uses Amelia, which was rated as the most human AI in terms of
conversation, by the Everest Group. This solution helps customers better handle
their finances using advanced intelligence.
Ipsoft’s Amelia to have a new role in
financial services in Nordnet
Nordnet, a Nordic digital bank, has
announced plans for the integration of Amelia, a conversational AI for the
purpose of scaling customer interactions and enhancing the bank’s customer
service program. Amelia will use cognitive research as well as AI to interact with
customers pertaining to investments and finances.
Amelia’s Nl abilities get featured in
Celent Research
Celent Research conducted a study on
Amelia, titled, “The Virtual Agent: Natural Language Processing in Insurance.”
This study focused on the relevance of natural learning in the insurance
industry, including a focus on Amelia. It also studied the importance that NL
has and will have in the insurance industry in terms of strategic importance
and best practices. The report studies the use and popularity of AI and virtual
agents in performing internal as well as external issues such as on-boarding
customers and carrying out customer support.
