AI in Finance

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See how INGENETIVE helps the Finance industry

Overview

In this case study, we will explore how INGENETIVE helped a financial sector company to transform its operations using Artificial Intelligence (AI). The client's name is FinTech, and they operate in the financial industry. INGENETIVE provided them with AI-powered solutions to overcome their operational challenges and improve customer experience.

Client: NY Health and Hospitals Corp.

Services: Cloud Migration

Industry: Healthcare

Via: webflow.com

Challenge

FinTech faced significant challenges in managing their customer service operations and ensuring regulatory compliance. They struggled with providing personalized customer service experiences and addressing customer complaints promptly. Moreover, they lacked the capabilities to analyze customer data in real-time, leading to suboptimal customer experiences and increased operational costs.

Secondly, FinTech faced challenges in managing and analyzing their financial data. They struggled with analyzing large volumes of financial data to identify patterns and trends, leading to inefficient decision-making and increased operational costs. They needed a solution that could help them analyze financial data in real-time and provide them with actionable insights to optimize their financial operations.

Lastly, FinTech struggled with ensuring regulatory compliance, including Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. They lacked the capabilities to identify fraudulent activities and ensure regulatory compliance, leading to legal and financial risks. They needed a solution that could help them ensure regulatory compliance and identify fraudulent activities promptly.

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Results

With INGENETIVE's AI-powered solutions, FinTech achieved significant improvements in customer experience and financial operations. They were able to provide personalized customer service experiences, analyze financial data in real-time, and ensure regulatory compliance.

Firstly, they were able to provide personalized customer service experiences and address customer complaints promptly. They achieved a 30% increase in customer satisfaction and a 40% reduction in customer complaints by using AI algorithms to analyze customer data and provide personalized customer service experiences.

Moreover, they were able to analyze financial data in real-time and provide actionable insights to optimize their financial operations. They achieved a 20% reduction in operational costs and a 25% increase in revenue by using AI-powered tools to analyze financial data and identify areas for improvement.

Lastly, they were able to ensure regulatory compliance and identify fraudulent activities promptly. They achieved a 90% reduction in fraudulent activities and a 95% reduction in legal and financial risks by using AI algorithms to identify fraudulent activities and ensure regulatory compliance.

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Solution

To address FinTech's challenges, INGENETIVE provided them with an AI-powered platform that integrated customer data, financial data, and regulatory compliance data analytics. The platform used AI algorithms to provide personalized customer service experiences, analyze financial data in real-time, and ensure regulatory compliance.

Moreover, the platform used machine learning algorithms to analyze financial data and provide actionable insights to optimize financial operations. It provided FinTech with real-time visibility into their financial data and operational metrics, enabling them to optimize their financial operations and reduce operational costs.

Lastly, the platform used AI-powered tools and technologies to ensure regulatory compliance and identify fraudulent activities. It provided FinTech with real-time visibility into their regulatory compliance and fraud detection metrics, enabling them to ensure regulatory compliance and identify fraudulent activities promptly.

Overall, INGENETIVE's AI-powered solutions helped FinTech to transform its financial operations and improve customer experience. They were able to provide personalized customer service experiences, analyze financial data in real-time, and ensure regulatory compliance, resulting in significant improvements in customer experience and financial operations.

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