Banco Santander, one of the largest private banks in Europe, has just earned an award from the European Financial Management Association (EFMA) for using technology in streamlining HR and work processes.
By making use of AI, they have become the only bank in the world to achieve a 100% digital small and medium-sized enterprise (SME) customer onboarding, dramatically improving their productivity, and cutting processing time from seven days down to 15 minutes with superior accuracy.
Leveraging AI solutions from TAIGER, a Singapore-based AI startup, Santander applied advanced semantic and human reasoning, along with machine learning and natural language processing to deliver 90% accuracy in three key organisation-wide work processes:
- Information extraction
- Virtual assistance
- Enterprise search
Following success in Singapore, TAIGER intends to put further resources into engineering, research and development, and plans to expand into Korea and Japan. This expansion is a strategic step to offer organisations information processing and knowledge representation AI to help improve and optimise the whole of an organisation’s work processes globally.
Paul Arkwright
Publisher
