Banks are pursuing various digital transformation strategies with respect to how customers adopt rapidly transforming technologies. To provide them with the best services and convenience, banks digitize their operations in a competitive banking environment. The aggregate potential cost savings for banks from AI is estimated at $447 billion by 2023, with the front and middle […]
Landkreditt Bank signs a new two-year license and innovation agreement with Simplifai. The agreement enables Landkreditt to implement Simplifai’s Digital Employee across all business areas: Banking, Insurance, Property, and Asset Management. When Simplifai was founded in 2017, our first customer was Landkreditt Bank. And thankfully, just like most other companies, they are still with us. […]
Introduction Modern banking functions are driven by the momentum created by digitization. This push has raised the expectation of both bankers and customers in terms of simplified operations, easy-to-access and manage accounts, and prompt query resolution. Banks and financial institutes are proactively building their resilience strategies respective to their business roadmap. Aligned with this objective, […]
The need for an effective CIO plan for implementing AI Many studies have found that if organizations do not evolve their mindset and efforts to implement AI in their organizations, they risk creating a huge gap between themselves and other institutions that are advancing by adopting AI. And for those organizations that adopt AI, not […]
Introduction Cognitive top Artificial Intelligence (AI) applications in banking 2022, have increased tremendously, especially with the return of the new normal early in the year. After the pandemic, many banking organizations opted for facilitating operations through process automation, which in pre-pandemic times was mostly manual or automated in a limited way. As the banking and […]
Simplifai has signed a strategically important 3-year innovation partnership with Sparebank 1 SR-Bank. This is a milestone achievement as Sparebank 1 SR-Bank has proven to be a first mover within fintech in the Norwegian banking industry. The 3-year contract includes a Digital Employee for email management (Emailbot) for both the retail and corporate customer centers […]
Artificial Intelligence in Banking and Financial services has become driver for enhanced customer service, reduced operational costs and increased operational efficiency. Businesses in BFSI sector are optimistically inclined towards AI-powered process automation, front end support, to meet their businesses goals. According to McKinsey & Company, Artificial Intelligence potentially could unlock about USD 1 trillion in […]
Chris Skinner once said, “Ignoring technological change in a financial system based upon technology is like a mouse starving to death because someone moved their cheese.” And as a corollary to this ideology, most organizations in the BFSI sector are gradually warming up to the vast pool of benefits offered by recent technological advancements that […]
What makes AI so desirable in the BFSI sector? That many organizations are now vying towards implementing process automation in their daily processes? It obviously goes beyond benefits such as improved customer experience, better security, and saving operational costs. Out of all the financial sectors, Artificial Intelligence seems to have made the most progress in […]
Simplifai’s new agreement with the Norwegian bank Landkreditt opens doors for the company to enter the bank sector and is a new strategic breakthrough for Simplifai. Bård Myrstad, CEO of Simplifai, says: “This is a strategically important contract as it verifies that our e-mailbot artificial intelligence solution meets the bank industry’s extremely high-security requirements […]
