Standard Chartered wins award for AI-driven client insights

19 April 2021 2 min. read

A transformation by Standard Chartered to improve customer experience through technology – supported by Synechron and Squirro – has been recognised with two financial services industry awards. 

‘Client Insights’ is a cloud-based artificial intelligence tool housed in Amazon Web Services, designed to sift through vast pools of customer data to give front-line banking service providers detailed and actionable information. 

The tool was developed with funding from Standard Chartered Ventures; financial services and Natural Language Processing (NLP) expertise from consulting firm Synechron; AI-driven data insight solutions from FinTech firm Squirro; and first-hand knowledge of banking services from Standard Chartered front-line employees.

Standard Chartered wins award for AI-driven client insights

The goal was to move beyond traditional banking services to a more tailored, personalied set of offerings – now being delivered to Standard Chartered clients across Singapore, UAE, UK and France. Employees in these regions are using insight-based triggers to add value for customers.

Following a successful rollout, Client Insights has been recognised with two separate awards. Big Innovation AI Excellence Awards have applauded the tool’s NLP capabilities, while The Asset Triple A Awards have highlighted the digital collaboration on the project. 

Standard Chartered’s Global Head for Data Solutions, Bireshwar Dasgupta, explained how the collaborative approach signals a wider strategy to reinvent the approach to banking. “The Insights solution is a good example of how we are leveraging technology, and FinTech partnerships to co-create innovative analytics capabilities to enable our frontline teams to have better conversations.” 

Synechron experts also acknowledged the awards. Managing Consultant at the firm Marc Westgate revealed how the project went from ideation to a fully functional product in half a year. Synechron’s head of Europe, Middle East and Asia Pacific Mihir Shah nodded to the firm’s partnership with Squirro as a driver of success.

“This project has been pivotal in strengthening our relationship with Standard Chartered and our partnership with FinTechs in the wider ecosystem such as Squirro,” said Shah.

For Squirro’s general manager in Asia Moritz Müller, the recognition illuminates the value of data in banking. “this award acknowledges the positive impact of our insights engine’s analytics and NLP capabilities, delivering actionable insights in the right context. It also drives us to keep striving for our vision, together with our clients and partners, to turn hard-to-use data into valuable assets with AI.”