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Artificial intelligence is the blend of three advanced technologies – machine learning, natural language processing and cognitive computing and is being used in the banking industry to scale new heights in customer relationship management. The sector is implementing this from the ground level with a principal aim of climbing heights in customer-centric approaches.
AI is hard because all of the technology needed to automate intelligence live in different tools today. A common estimate is that 70% of the time involved in building AI solutions is spent extracting and cleaning the data so it can be used by tools across the development process. Not only does this slow down a team’s ability to build AI solutions, it dramatically decreases agility when reacting to new opportunities.
So How Does No-Code AI Help?
A promising solution to these challenges are no-code platforms that integrate and automate much of the tedious work around creating AI solutions. A No-code AI platform essentially requires no coding at the time of deployment. The no-code ML tools available today are enabling businesses, including leading banking and financial organisations to develop and deploy AI applications without any prior coding. By leveraging an automated platform that automates data management, machine learning and solution deployment, subject matter experts without coding experience can build complete AI solutions.
Ankit Ratan, cofounder of Signzy says, “No-Code AI is changing the trend of developing applications in the banking sector. Organisations needn’t fret over hardcore skill upgrade or hiring new AI professionals by simply switching to No-Code. New machine learning tools are now making it possible to develop applications without prior knowledge of programming languages. No-code AI helps the financial services to automate the compliance and risk processes.”
Signzy’s no-code platform can be used by its clients to build solutions to their liking. The fintech’s proprietary API microservices are capable of enhanced functions like extraction, forgery detection, background verification against government databases etc. These APIs follow a plug-n-play approach, requiring minimum hassle for integrating with existing solutions. This provides almost 75% reduction in overall operational expenditure.
Due to the ongoing pandemic, Signzy claims to deal with the massive surge in global demand for its solutions through its No-code AI platform, which has enabled banking and financial institutions to integrate the firm’s solutions in a seamless manner. Signzy provides digital KYC solutions to over 100 Indian banks, insurance firms, and asset management companies like Aditya Birla Sunlife AMC, BoB Financial and more. The clients also include four of the largest banks in India with State Bank of India (SBI) and ICICI Bank among them. Globally, Signzy has a strong partnership with Mastercard and offices in New York and Dubai to serve customers in the multiple geographies.
