Retail Banking
Overview
Over the past few years there has been a huge change from traditional branch-based banking to online and mobile banking. This revolution has led to a greater demand for Retail banks to plug the gaps in the legacy applications, and move towards digital banking. Quale Infotech provides digital consulting and intelligent automation solutions across various lines of business in the retail banking space. Our team has a strong combination of functional and technical expertise in this space, gained through successful delivery of services to many banks across multiple geographies. We have developed process knowledge and prepared frameworks to quickly identify the low hanging fruits for quick wins in implementing Artificial Intelligence (AI) and intelligent automation.
Success story: Managing check fraud
Globally, banks risk losing millions due to check fraud by counterfeiters. In spite of lower check-processing times, the check review process is still manually intensive, there is limitation of standard automation to verify signatures, high volume with low turn-around time, fraud detection requiring high level of analytical skills, etc.
Quale Infotech implemented optical character recognition (OCR) and deep learning technology to reduce fraudulent transactions by 50%, and considerably lowering costs incurred on manual check validation operations.
Features and Benefits
Easily Scale Up Operations
Retail banks in continuous expansion mode are able to use active robots to help scale up back office operations with no additional costs.
Add Features to Legacy Applications
Intelligent Automation helps modernize your infrastructure without the high cost of changing legacy applications.
Stay Ahead of Regulatory Compliance
Changing regulatory landscape in the banking space requires continuous investments, automation and AI helps you stay ahead.
Enhanced Customer Experience
We help enhance your customer experience with the help of chatbots and NLP. AI helps bring more self service abilities to your customers.
Analytics for Business Insights
Get deep insights from your existing data using predictive analytics and help improve your decision-making process.
Improve Turn Around Time
Stay ahead of competition with faster processing with the help automation, resulting in short turn around time for customers.