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Synechron Develops AI Data Science Accelerators for BFSI Firms

The accelerators help BFSI firms in discovering meaningful relationships between events that impact one another  and cause a future event to happen 

Synechron, Inc., the global financial services consulting and technology services provider, on Monday launched its AI Data Science Accelerators for Financial Services, Banking and Insurance (BFSI) firms.

Following the success of Synechron’s AI Automation Program – Neo, the New York-based company’s AI Data Science experts have now developed a powerful set of accelerators that allow financial firms to address business challenges related to investment research generation, predicting the next best action to take with a wealth management client, high-priority customer complaints, and better predicting credit risk related to mortgage lending.

The accelerators combine Natural Language Processing (NLP), Deep Learning algorithms and Data Science to solve the complex business challenges and rely on a powerful Spark and Hadoop platform to ingest and run correlations across massive amounts of data to test hypotheses and predict future outcomes.  

“Digital Transformation is reshaping the financial services and insurance industries. Synechron is helping our clients to develop strategies to guide their businesses through this change. Our Data Science Accelerators provide a powerful causation platform and business-driven use cases for four very complex financial services challenges,” said Faisal Husain, Co-founder and CEO, Synechron.

The AI Data Science Accelerators include:

Syn-AI and Causality – a powerful Data Science platform that ingests large volumes of structured and unstructured data and powers the business case Accelerators. It uses the latest advancements in parallel computing and delivers a scalable platform for rapidly-analyzing massive data collections and identifying meaningful Granger Causal relationships.

Visual Research – automatically generates personalized buy- and sell-side research reports with automated data collection, synthesis, and analysis, lowering costs while enabling systematic research not possible with manual processes.  

Informed Investing – allows wealth managers to receive alerts for critical events related to the assets they manage such as geopolitical and sector events that impact security prices and buy/sell recommendations.

Customer Complaints Management – identifies the factors driving customer complaints and prioritizes each claim by the likelihood of being disputed or escalated to enable banks to more quickly and proactively resolve the most critical complaints.

Credit Risk – empowers banks to manage their credit portfolios proactively, enabling users to drill down into the factors driving likely credit events and to proactively manage individual risks ranked by probability of incurring a specific credit event.  

The Data Science Accelerators are the fifth Accelerator program Synechron has launched in the last two years through its Financial Innovation Labs (FinLabs), which are operating in 11 key global financial markets across North America, Europe, Middle East and APAC –  including New York, Charlotte, Fort Lauderdale, London, Paris, Amsterdam, Serbia, Dubai, Pune, Bangalore and Hyderabad.

With this, Synechron’s Global Accelerator programs now includes over 50 Accelerators for: Blockchain, AI Automation, InsurTech, RegTech, and AI Data Science.

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