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Voice Analytics in Financial Sector: Use Cases and Tech Choices

Voice Analytics in Financial Sector: Use Cases and Tech Choices | Language Tech Market News | Scoop.it
Les projets d’analyse de la voix (speech analytics) commencent à trouver leur place dans le secteur financier grâce à l’apparition de nouvelles techniques et technologies. D’abord, les technologies de transcription de la voix se sont considérablement améliorées sous l’effet de nouvelles techniques de deep-learning, de l’amélioration de la puissance de calcul et de la croissance des volumes de données. Ensuite, ces nouvelles techniques algorithmiques ont aussi fait évoluer la reconnaissance du timbre ou de l’émotion de la voix et l’analyse sémantique des mots prononcés.
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@ThomsonReuters Launches New AIgorithmic Research Capability to Leverage its Finance Data

@ThomsonReuters Launches New AIgorithmic Research Capability to Leverage its Finance Data | Language Tech Market News | Scoop.it

Thomson Reuters, has launched a new algorithmic research service named Eikon Digest aimed at the financial sector, in a move that shows the increasing use of machine learning, NLP and related tech.
This proprietary personalised service containing the ‘most significant news, research, data and information from Thomson Reuters Eikon’, its financial desktop platform. 

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How @Fonetic's Holistic Surveillance Can Help Financial Organizations

How @Fonetic's Holistic Surveillance Can Help Financial Organizations | Language Tech Market News | Scoop.it

Holistic surveillance is technology that monitors all trade communications across the trading floor. The most powerful and efficient types leverage machine learning and artificial intelligence capabilities.
Universal trade This includes communications surveillance, including both structured and unstructured data for all types of trade, monitored at all times without interruption.
Analysis and integration of every type of communication, including emails, memos, IM, and crucially, voice 
Monitoring of every single communication of every type, meaning no more expensive, inefficient data siloing and no more sporadic voice sampling.
Fast, comprehensive trade reconstruction capabilities.

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Marlabs Launches mAdvisor AI Platform to Beat the Data Scientist Deficit

Marlabs Launches mAdvisor AI Platform to Beat the Data Scientist Deficit | Language Tech Market News | Scoop.it

Marlabs Inc., a digital transformation firm based out of New Jersey, U.S., has launched mAdvisor, an AI and Cognitive Computing Platform. Positioned as 'Data Scientist in a Box', the solution enables enterprises to overcome the shortage of data scientists, which is a key challenge for AI adoption using automated machine learning and cognitive computing.

LT-Innovate's insight:

NLP and NLG inside, presumably.

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Interactive Voice Hubs Hit Wall Street

Interactive Voice Hubs Hit Wall Street | Language Tech Market News | Scoop.it

JPMorgan Chase & Co. institutional clients can now get quickly answered through Amazon.com Inc.’s ubiquitous voice-activated assistant. The bank and the e-commerce giant have partnered to provide JPMorgan’s Wall Street users with another way to access its research. Alexa is able to send analysts’ reports and related queries, and the bank is testing other features, like providing prices on bonds or swaps.

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Conversational Finance AI Platform Developer Kasisto Raises $17M

KAI is an enterprise-ready platform that powers bots and virtual assistant with financial expertise, steeped with domain knowledge, so financial institutions can: offer entirely new and differentiated experiences to their consumers, designed with the most intuitive user interface: natural human language

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@Attivio and Thomson Reuters Improve Search Semantics for Fintech

@Attivio and Thomson Reuters Improve Search Semantics for Fintech | Language Tech Market News | Scoop.it

By integrating Thomson Reuters Intelligent Tagging into its cognitive search platform, Attivio can now offer its financial services customers better answers to their queries due to a deeper understanding of financial terms and abbreviations. This is necessary as a number of Attivio customers use the solution as a key component of their risk and compliance, equity research, and investment analytics initiatives. Attivio is thus in a better position to train machine learning models to understand the specific terms and language used in the financial services industry, said Attivio CEO Stephen Baker.  For companies operating in this sphere, he noted, the need to find the right information in real time is increasingly important. 

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Automating Report Writing: How Financial Services is Embracing AI

Automating Report Writing: How Financial Services is Embracing AI | Language Tech Market News | Scoop.it
One of the fastest growing use cases for Natural Language Generation technology is in the customer experience space. Smart Chatbots that are able to offer advice and guidance are a growing use case. But the most common use case today is as a CRM plug in. Essentially, NLG can write a memo before a salesperson takes a meeting. The software explains who you are meeting, the history with the client, what you need to know, what you need to sell, and with what sales pitch: all of this automatically. Some clients take this to the next step, using a software like Alexa to “read” the report written by NLG.
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Clinc and USAA Partner on Innovative Conversational AI Solution

Clinc and USAA Partner on Innovative Conversational AI Solution | Language Tech Market News | Scoop.it
Unlike solutions that currently exist from Siri, Alexa and Cortana, Clinc’s machine learning capability allows the application to expand knowledge and improve responses with every query. By identifying and analyzing dozens of factors like speech patterns, word structure and sentiment, Clinc is able to understand, to remember and to respond to unconstrained, contextual, messy human language.
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How FSI Companies Are Reaping the Rewards of an Optimized Customer Experience

How FSI Companies Are Reaping the Rewards of an Optimized Customer Experience | Language Tech Market News | Scoop.it

The FSI (Finanical Services and Insurance industry) sector is ripe for digital transformation, and incumbents must adapt if they are to compete with the challengers entering the market.
Millennials are a key target group, but many of them see traditional banking as a painful experience.
Industry disruptors, such as new digital banks and other fintech companies, have learned lessons from leading companies in the tech sector and are putting the customer experience at the heart of their business models.
The stakes are high in this new digital world.

LT-Innovate's insight:

Rich opportunities for LT in the finance/industry mix, from search via multilingual to text generation.

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Banking Chatbots Are the Next Big Thing in Fintech

Earlier this year, the Royal Bank of Scotland introduced its own chatbot named Luvo to streamline customer service operations. Recently Bank of America released its own personalized chatbot, named Erica, at the Money 20/20 event at Las Vegas. Between these two, the financial sector has seen many similar initiatives, not just in the US, but globally. Toshka Bank (Otkritie Financial Group) and Barclays Africa (or Absa Group) have launched in-house chatbot applications. The trend has given rise to a new wave of solution providers—the third-party chatbot provider.

LT-Innovate's insight:

How multilingual are these chatbots? How do they know which language their user prefers to speak?

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Deutsche Bank's AI Stockpicker Cuts Through Corporate Greenwash

Deutsche Bank's AI Stockpicker Cuts Through Corporate Greenwash | Language Tech Market News | Scoop.it

Data scientists at Deutsche Bank have developed an artificial intelligence tool A-Dig that cuts through the Environmental Social and Governance reports of most companies to analyse non-financial news and quantify the stock impact.
The bank trained A-Dig on data from 1000 organisations, using Natural Language Processing to infer the context of a typical ESG report and generate 'buy' and 'sell' signals accordingly.
The Bank says that over the years since the financial crisis, the average number of words per quarterly SEC filing is now about 20,000, more than double the number two decades ago, and annual filings have grown to 50,000 words.

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Automated, Real-Time Expense Report Audits By AppZen

Automated, Real-Time Expense Report Audits By AppZen | Language Tech Market News | Scoop.it
AppZen’s patented AI technology combines computer vision, deep learning and natural language processing to automatically read and understand expense reports, receipts, and travel documents and cross-check them with hundreds of internal and external data sources in real-time, to determine the accuracy and legitimacy of every expense. The solution assigns risk scores to each expense, protecting the company from expense misuse and regulatory non-compliance.
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#NLG Support in Synechron's Regtech Accelerator Program for Financials

#NLG Support in Synechron's Regtech Accelerator Program for Financials | Language Tech Market News | Scoop.it
With a combination of machine learning and natural language generation, this accelerator automates the variance calculation process, identifies influencing factors, and generates required commentary for manual validation and distribution. This assists firms in Basel requirements for capital numbers reports and improves efficiency as it is quicker and less error-prone than human processing.
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#NLG Gains Traction in the Financial Research Space

#NLG Gains Traction in the Financial Research Space | Language Tech Market News | Scoop.it

Peter Memon, head of emerging technology at financial technology services provider Synechron, has said that utilization of business insight systems goes up when companies deploy natural language generation (NLG): “If you look at utilization of these business insight systems, in most cases it’s in the low single digits—around three percent—but when you put NLG into it to summarize what a user is going to see, all of a sudden utilization jumps up 50 to 60 percent."

LT-Innovate's insight:

A rare statistic on NLG usage.

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Clinc Launches Conversational Build Platform for Banks

Clinc Launches Conversational Build Platform for Banks | Language Tech Market News | Scoop.it

Clinc, a US-based provider of conversational AI technology for financial institutions (FIs), announced the launch of a new self-service platform, Spotlight, that enables FIs to train and deploy sophisticated conversational AI software in-house, independently of vendors. Spotlight is available in over 80 languages, and can be integrated into any digital channel, including contact centers, mobile apps, and Alexa, Google, and Facebook Messenger, allowing FIs to create a consistent user experience. Spotlight is already being used by USAA and Isbank, one of Turkey's largest banks.

LT-Innovate's insight:

Keep an eye open for more do-it-yourself platform solutions to smart knowledge/cognitive and communication issues in all sectors.

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DZ BANK Chooses @Sinequa Cognitive Search and Analytics Solution

DZ BANK Chooses @Sinequa Cognitive Search and Analytics Solution | Language Tech Market News | Scoop.it

DZ BANK has chosen a solution from Sinequa to help share ideas, innovate and achieve effective corporate governance in the areas of risk management, reputation management and transparent decision making.
DZ BANK is the second largest bank in Germany by asset size and the central institution for about 1,000 cooperative banks and their 12,000 branch offices.

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Microsoft and Ovamba partner #NLProc Solutions in Fintech for African SMEs 

Microsoft and Ovamba partner #NLProc Solutions in Fintech for African SMEs  | Language Tech Market News | Scoop.it
Ovamba Solutions, Inc. and Microsoft have partnered to develop and produce the first African language driven “chat-bot” designed to serve the millions of African SMEs who face exclusion from Financial Services due to the challenges of functional and business literacy.  The Chat-Bot was conceived, designed and created by Ovamba and Microsoft and will be rolled out via Ovamba’s mobile app, ‘Ovamba Plus.’
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"#NLProc is the New Rocket Science" behind Amazon's Alexa for Wealth Management

"#NLProc is the New Rocket Science" behind Amazon's Alexa for Wealth Management | Language Tech Market News | Scoop.it

Explaining how Alexa's cloud-based brain, Amazon Lex, can be used by financial firms, Felix Candelario, a solutions architect at Amazon Web Services, didn't soft-pedal its capabilities. "Natural language processing is the new rocket science," he said. That's the ability to have a conversation with a client as any human representative would, and still understand any request correctly and deliver the service they have asked for.

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UK Looking to Use #NLProc to Enforce Financial Compliance

UK Looking to Use #NLProc to Enforce Financial Compliance | Language Tech Market News | Scoop.it

The Financial Conduct Authority, an independent U.K. financial regulatory body, is looking into the possible use of artificial intelligence (AI) and machine-learning tools to enforce regulatory compliance. THey are particularly looking into the practical use of machine-learning to make better use of speech-to-text software, social media and media analytics.

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EU-wide Sandbox for FinTech Startups?

The European Commission is considering a single EU-wide licence allowing tech companies in the financial services sector to operate across Europe. Part of the plan to boost the burgeoning FinTech sector is the creation of a pan-European “sandbox”, or special regulatory framework, for the whole Union.


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