The Real Value of Artificial Intelligence in Banking

After the 2008 financial crisis, banks resorted to technology to survive and revive their fortunes. Compliance and transaction banking became core focus areas for financial innovation, as they could maximize returns in a strict regulatory regime.

iGTB is at the ‘sharp end of customer-facing AI applications’, according to Alenka Grealish of Celent, and one of the ‘few pioneers bringing advanced AI to commercial customers’.

iGTB is embarking on delivering next generation customer engagement by rebuilding its entire platform to be API-first and AI powered. Alenka Grealish, Celent

Grealish visualizes the growth of AI in banking as the ascent of service providers from base camp to summit, where their AI setups are fully mature. Hence, AI in compliance is a crowded summit, but AI in cash management through is still highly experimental.

The Contextual Banking eXperience (CBX) platform can interact with customers to provide contextual insights – about cash positions, currency exposures, payments, and collections and receivables – the best next action, based on context, and the oversight needed to track outcomes, refine strategy and maximize returns.

CBX is a white label digital banking platform for corporate and SME banking, built to anticipate business needs and help corporations achieve their aims. Real-time cash positions and cash flow forecasts help the customer take care of threats well in time, and maximize investment opportunities. CBX uses API handshakes to sync with third-party banking tools, always hungry for data to fine-tune its contextual insights and recommendations.

All insights are immediately actionable: the latest CBX doesn’t wait for you to wade through your dashboard – if an exposure or opportunity is detected, the system provides options based on the customer’s risk appetite.

And these actions are executed with minimum clicks. This is why iGTB was hailed as an Advanced AI Mountaineer by Celent.

But iGTB is not scaling these peaks alone. iGTB’s climb to the summit begins with a user’s journey, the subject of our next blog.