GENAI USE CASES | BANKING
Transforming Banking
Generational cost saving opportunities
Kosmoy empowers banks to deploy Large Language Model (LLM)-based applications and GenAI agents that streamline operations, enhance compliance, and significantly reduce costs. Through the deployment of GenAI agents with audio capabilities, banks can automate call centers, efficiently handle customer inquiries, and seamlessly schedule appointments.
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DETAILED USE CASES
GenAI Use Cases for Banking
HIGH-PERFORMANCE CHATBOTS WITH RETRIEVAL AUGMENTED GENERATION (RAG)
Banks can deploy high-performance chatbots using Kosmoy Studio's GenAI assistants with RAG functionalities. Integrated into the bank's website or mobile app, these chatbots handle a wide range of inquiries, from account information to transaction histories. By leveraging existing data repositories, the chatbot provides personalized and contextually relevant answers, improving customer experience and reducing the workload on human agents.
AUTOMATING CUSTOMER SUPPORT WITH AUDIO CAPABILITIES
A bank can automate a significant portion of its call center operations using Kosmoy Studio's GenAI agents with audio capabilities. GenAI agents can handle inquiries about mortgages, providing detailed answers, qualifying customers by asking relevant questions, and scheduling meetings at the nearest branch for further discussions. This approach not only reduces operational costs but also enhances customer satisfaction by offering prompt and accurate support.
REVIEWING BANKING PRODUCT MATERIALS FOR COMPLIANCE
In addition to AML monitoring, Kosmoy Studio's LLM agents can review banking product materials to ensure they comply with applicable regulations. By implementing the "four eyes principle," these AI agents perform thorough reviews, identifying potential compliance issues and ensuring that all materials meet regulatory standards. This process enhances the reliability and accuracy of compliance checks, safeguarding the bank against regulatory breaches.
COMPLIANCE AND ANTI-MONEY LAUNDERING (AML) MONITORING
Kosmoy Studio enables banks to enhance their compliance and AML efforts by deploying LLMs for real-time transaction monitoring and pattern detection. These GenAI agents can flag suspicious activities, ensuring compliance with regulatory standards and reducing the risk of financial crimes. This capability is crucial for maintaining the integrity and security of banking operations.
Additionally, advanced chatbots powered by Retrieval-Augmented Generation (RAG) deliver personalized support through digital channels, enhancing customer experience and satisfaction. Moreover, the platform's GenAI applications can assist in detecting fraudulent activities, managing anti-money laundering (AML) efforts, and ensuring compliance with complex regulations. Internally, banks can leverage Kosmoy Studio to streamline workflows and significantly boost productivity.
GenAI agents can review banking product materials to ensure regulatory compliance, apply the "four eyes principle" in compliance reviews, and monitor transactions in real-time to flag suspicious activities. These capabilities not only enhance compliance efforts but also safeguard financial institutions against regulatory breaches and financial crimes. Furthermore, AI-driven tools can be employed for employee training, knowledge management, and decision support, making everyday tasks more efficient and effective.