IBM Cloud Pak for Data provides automation to discover, classify and enhance data
As part of accelerating its digital transformation program and providing the latest technologies and advanced technological solutions using artificial intelligence (AI) and machine learning (ML), Capital Bank announced that it has signed an agreement with JBS, the platinum partner of IBM in Jordan, to build a modern platform for the bank to manage data and learning Automation and artificial intelligence.
Under this cooperation, Capital Bank will use a unified data management and artificial intelligence platform IBM Cloud Pak for Data, an artificial intelligence-enabled system for the cloud environment that standardizes and simplifies the processes of collecting, organizing and analyzing data, which will help the bank support the fact-based decision-making process, It also provides automation to discover, classify and enhance data to provide ready data to business departments in record time, thus improving the productivity of its employees, enhancing work efficiency and creating safer customer experiences, in addition to reducing the time and effort required to implement operations.
Machine learning (ML) and artificial intelligence (AI) solutions and models will also help Capital Bank to understand customer behavior, predict their future actions, manage their relationship with the bank at its various stages, and help the bank reduce and manage risks by improving the quality of credit underwriting and improving the credit approval process, disclosure Detecting and preventing financial fraud, and improving Know Your Customer service (KYC) procedures by analyzing customer behavior and discovering cases that help the bank manage its anti-money laundering and anti-terrorist financing efforts more efficiently.
Artificial intelligence and machine learning solutions will also help in the operations of the customer service center, in terms of converting incoming customer calls into texts and extracting patterns from them, such as the most common reasons for communication, frequent complaints, the quality of these calls, and others, analyzing them and identifying their causes and methods of treatment in order to improve the quality of services provided to customers. Capital Bank will also be able to study and analyze ways to stimulate spending through credit cards, in order to be able to develop and provide appropriate services and solutions to customers that fit their different lifestyles.
Group Chief Operating Officer at Capital Bank, Izzidin AbuSalameh, said: “Capital Bank is one of the first banks in the region who starts their digital transformation journey; And our partnership with JBS and IBM to value add in AI & ML journey; since data management is one of the most important pillars in the digital transformation journey, which will enhance the services to Capital bank clients and will increase the efficiency of operations”.
Chief Data Officer at Capital Bank, Bahaa Awartany, said: “Our cooperation with JBS and IBM comes from Capital Bank’s belief in the importance of providing advanced and high-level data management technologies and developing machine learning (ML) and artificial intelligence (AI) applications to improve the performance of our banking services and the technological developments in the global banking sector and enhancing of the bank’s digital infrastructure to ensure the smooth and efficient workflow.”
The Director of Innovation & business transformation at JBS, Khaled AlKadi, expressed the importance of adopting artificial intelligence solutions in the Jordanian banks leveraging their data to have the insight(s) which will enable them to provide the right service(s) and offering for their customers; Since Capital Bank is one of the pioneer banks locally and regionally in the areas of digital transformation, the bank decided to adopt IBM Cloud Pak for Data and Netezza Performance Server solutions, which will centralize data in a single master system that enables it to analyze data and make decisions quickly and accurate.