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Cognitive technologies will play a major role in building the bank of the future. But that future is not far away. Giant leaps have been made that enable vast amount of data to be stored, analysed and distributed in real time, or near real time. New types of algorithms also mean that machines now have an understanding of data, plus an ability to learn, that would have been inconceivable only a handful of years ago. 

By harnessing the power of artificial intelligence (AI) to transform how financial services are manufactured, delivered and managed, banks are able to:

  • Enhance the customer experience
  • Deliver new products and services that are more closely aligned to customer needs 
  • Achieve and sustain operational excellence.

Cognitive technologies mean that the customer communications channel is always open, so products and services can be continually updated and refined to meet exact customer needs. In a cognitive bank, computers don’t just process: they learn. Every customer interaction is a learning opportunity and a bank can respond accordingly.

The relevance of cognitive banking

Offer a fully personalised banking experience

As emerging financial needs are predicted more quickly and accurately, banks can proactively offer relevant services when and where they are needed.

Achieve and sustain operational excellence

Cognitive technologies boost back-office efficiency by increasing automation, reducing errors and collating data from disparate sources. In many cases analysis can be conducted in real time making the bank more streamlined, agile and responsive.

Manage risk more effectively

Banks can mine and leverage a lifetime of customer data to more accurately estimate the risk associated to each customer. Better risk management translates into a greater ability for banks to balance risk and attractiveness in their commercial offers

Cognitive technologies will play a major role in building the bank of the future –a future that is not far away. Giant leaps have been made in terms of data management and new types of algorithms also mean that machines have an ability to learn which was not conceivable a few years ago.”
Ignasi Barri Vilardell Director of digital strategy, Global business development
Ignasi Barri

Why choose GFT as strategic partner

Starting with cognitive banking is a lot easier with expert help

GFT has helped many of the world’s top banks digitalise and embrace new technologies. We have unique practical experience working with cognitive technologies and have delivered several successful projects.

A strong partner ecosystem supporting your AI initiatives

GFT has established alliances with leading providers of cognitive technologies including Google, IBM and Rulex.

We firmly believe in the potential of exponential technologies

AI, cloud, augmented reality and computer vision will play a key role in enabling a customer-focused revolution led by an empathetic focus on evolving customer needs. Ultimately, the potential benefits of cognitive banking are only limited by the ima