Finance AI Transformation

Artificial intelligence (AI) in law

The competition for customer share in the financial industry is intense. Firms are looking for every possible advantage in marketing while rigorously fighting fraud, money laundering, and other issues. These challenges require modern solutions and artificial intelligence in finance is the most adequate solution.

Companies that are making extensive use of AI are reaping the benefits of increased customer satisfaction and loyalty, decreased fraud, and reduced regulatory penalties. Trust HyperAspect to be your guide in the artificial intelligence finance world. 

Finances have gone digital long ago

The financial sector flourishes thanks to AI and machine learning as it allows automation and acceleration of routine processes and services at a reduced cost. AI is highly appreciated by all because it brings enhanced accuracy when dealing with big data from both internal and external sources. Benefit from rapidly generated predictive insights and make the right decisions on the spot.  

Thanks to finance AI, venture capital firms can find out how to improve vetting, fraud detection, deal flow processing, and due diligence. And when it comes to KYC and AML procedures – with HyperAspect you will be in control and never leave your customer’s finances at stake. 

HyperAspect Cloud Engineering

Our approach is to be open, transparent, and push the bleeding edge. HyperAspect’s vision is to democratize AI for everyone. Not just a select few. HyperAspect Cloud is our AI platform that enables exceptional decision-making in your company. We want everyone to explore, learn, dream, and imagine a new future.

Ensure safe finance AI services

The banking sector has to cope with strict regulatory requirements, first of all, to be eligible to conduct such business and second to be trustworthy in the eyes of customers. Artificial intelligence in finance provides full customer data visibility and enables model-driven decisions for auditing purposes. 

Anti-Money Laundering
With AI-based monitoring, financial institutions can tackle, and validate data from multiple resources so that no malicious transactions or other risks go through.
Know Your Customers
AI allows you to build a 360° view of a customer, using social media interaction, spending history, asset information, account activity, and transaction data.
Credit Risk Scoring
AI-powered credit risk scoring allows financial companies to perform faster and more accurate decisions based on customer data such as credit history, income, work experience, and transaction analysis.
Transaction Fraud
Preventing payment fraud involves machine learning for a while now and is more than successful. Identify all attempts for a fraudulent transaction and protect your customers.
DDoS Detection and Protection
DDoS attacks got very advanced in the last few years and can be caught only with the use of machine learning models. AI allows a large amount of traffic data to be analyzed, and attack patterns to be quickly identified.
Customer Churn Prediction
Customer churn must be addressed before it's too late. AI in finance allows you to have a high possibility to predict which customer is likely to leave your business.

We know how finance AI works

Are you struggling to cope with the latest regulatory requirements and fall behind the competition? Take the smart path when overcoming these challenges with artificial intelligence finance. At HyperAspect we possess the needed methodology, technology know-how, and easy-to-use toolset to lead you through this journey.

Contact us to find out how to increase tax and HR compliance, improve turn-around times, reduce financial risk while improving the quality of your support system. 

Go through some of our successful case studies and learn how we can help you today. 

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Solving Anti-Money Laundering (AML) and Know Your Customers (KYC) Challenges

An online remittance company needed to find a more reliable solution for AML and KYC compliance. We created a decision support system that was integrated with their existing pre-approval workflow. It funnels all submissions into a centralized system and understands all claim procedure-relevant information. Within the first six months after our intervention, our client automated monitoring against real-time data of companies and individuals that are consolidated into risk profiles and saw a 250% improvement in risk management.

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Easing Loan Processing

A peer-to-peer financing client wanted to automate the inefficient, time-consuming system for loan processing and prevent fraudulent applications. Our client chose an OCR solution created, which uses a photo or an ID scan to automatically populate a form with the client’s details. We also added an extra layer of security and all this resulted in reduced application processing time, improved employee effectiveness by 35%, and a 95% increase in the number of processed applications. 

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Improving and Automating Funding Pipeline

A venture capital fund was looking for a better way to organize investment requests and automate the process of gathering information from companies requesting funding. Thanks to the HyperAspect Cloud platform they were able to develop a system that collects all necessary information required for investment evaluation. Our efforts led to a 10x faster CRM entries population, a 35% improved data quality and 10 rediscovered promising prospects that were missed due to understaffing.

 

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Improving Usability And Reducing False Positives

Our client, a global leader in real-time KYC and KYB, compliance, and anti-fraud technology wanted to create an all-in-one solution for enterprise-level KYB, KYC, compliance, and anti-fraud. HyperAspect ensured that the sandbox data matched production data and provided ongoing support to enable fast and efficient integration, which allowed our client to confidently meet compliance watchlist requirements.

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Automating Insurance Loss Adjustment Process

A car insurance company was looking to improve its day-to-day operations by introducing a customer-centric approach for loss adjustment after an accident. We created an AI-powered solution to assess the post-accident condition of a vehicle by evaluating photos of the exterior. Within the first month, our client improved fraud identification by 5%, and claims management efficiency by 25%, and increased Return on Experience (ROX) by 20%.

Address specific use cases like never before

Companies and users expect banks to anticipate their needs and have the right financial solutions at the right time. These tasks cannot be done manually, but require deep analysis of an array of valuable data, which analysis can be done in a timely manner only with the help of Artificial Intelligence.

With AI and machine learning you can precisely target offers, understand which clients are likely to need specific services, forecast losses with accuracy, and improve trade execution and routing. Change the paradigm, using HyperAspect’s toolset and methodology!

Improve operational efficiency with finance AI

We live in a global economy and financial markets are more open than ever. To ensure safe operations with transactions from all around the world, financial teams need to collaborate tightly with no loss of precious time. Finance AI enables distributed teams to collaborate and use the same set of valuable data. In addition, there is always a department, which uses a legacy system. With AI, all data coming from such infrastructure can be funneled into a digital centralized system.

Boost conversions with AI-enabled real-time targeting. Analyze billions of user data points in real-time to predict the ever-changing customer intent. This will enable you to determine the likelihood of a conversion and the product preferences of a specific customer or customer group. 

Using finance artificial intelligence can improve your master data management program and speed up data governance workflows. AI models will help you to decrease the duplicate records in your data set while serving as the logical starting point for big data analysis.

Your IT infrastructure's security will flourish thanks to an AI-powered security cyberlake. Having the best possible security layer is critical for financial businesses and no compromises should be done. Gain visibility to all important security logs from a single platform. 

Mitigate the risk of collusion between employees and vendors thanks to AI and data analytics. Find patterns of collusion, corruption, and fraud in contracts via AI-powered risk models. Track any company's activity in-between different time intervals, countries, and sectors, even under different names. 

Finance AI technology is very suitable for auto lending platforms and will allow retail banking companies to provide a smooth all-digital experience, which will be appreciated by every customer. AI-based decision models for auto loans will lead to more customers while taking less risk.

Secure all financial services you provide thanks to AI!

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