Advanced Analytics & Artificial Intelligence in Capital Markets. Revenue growth, efficiency and cost reduction from AI and Machine Learning Leveraging AI to increase the value of your business. Get enabled to keep pace with the evolution of new technologies like AI and Machine Learning. Innovative solutions help you to generate new revenues, or cut
Advanced Analytics & Artificial Intelligence in Capital Markets. Revenue growth, efficiency and cost reduction from AI and Machine Learning
Leveraging AI to increase the value of your business. Get enabled to keep pace with the evolution of new technologies like AI and Machine Learning. Innovative solutions help you to generate new revenues, or cut costs by optimizing and automating your existing processes. According to a joint survey of Bank of England (BoE) and Financial Conduct Authority (FCA) , the number of AI applications is expected to triple within three years within the banking sector. The immediate benefits of more AI applications are expected efficiency gains and cost savings as well as improved or new services that could be generating additional revenue.
"For more than 250 years the fundamental drivers of economic growth have been technological innovations […] – a category that includes the steam engine, electricity, and the internal combustion engine. […] The most important general-purpose technology of our era is artificial intelligence, particularly machine learning."
Erik Brynjolfsson, US economist & Andrew McAffee, Principal research scientist at MIT.
LPA is a strong and experienced partner for the successful implementation of your AI project
Artificial Intelligence and Advanced Analytics
AI & Advanced Analytics can be used to overcome human weaknesses. For many cases, a hybrid approach reveals its full power combining the advantages of both worlds: humans have the inside track for flexibility/creativity, personal relationships and oversight, which can be complemented by AI's strengths in automation, optimisation and big data/pattern recognition. For us, AI can be defined as usage of Advanced Analytics and new technologies such as Neural Networks, Deep Learning, Random Forests and Machine Learning to perform recurring and low-value tasks that are usually performed by humans in order to fully release the potential of your workforce.
AI suits the whole value chain in banking
Tier 1 banks already benefit from AI-based solutions in various areas: Improved client service by using virtual assistants (e.g. chat bots), aggregation and analytics of news for sentiment, topics and trading signals, or anomaly detection to identify and reduce fincrime are only a few of the most popular examples. In addition, many banks already use machine learning in credit scoring and product recommendations.
Challenges – Business experts with AI know-how instead of AI experts
For a successful AI project, not the AI expertise, but the business expertise and the associated domain knowledge are the most crucial success factors. There are various challenges in implementation: From a technical perspective, major challenges are fragmented legacy IT landscape in the banking sector and the associated lack of data quality and accessibility. Another success factor that is often underrated is the acceptance of AI, which can be increased by confidence building and traceability of results using explainable AI. At the same time, a sound change management is essential to accompany those changes in processes and culture towards more data-driven decisions.
We enable our clients to unleash the full potential of AI to increase revenues and cut down cost. LPA brings visions to life and creates tangible business cases. We deliver. We support you with hands-on consulting and development services as well as AI-driven, market-proven tools and software products.
OUR OFFERING
We advise and support you in all kinds of implementation projects in the area of Advanced Analytics & AI.
Implementation of LPA Software Solutions.
We offer a broad range of software solutions in the areas of process automation, complex product valuation and advisory & customer retention.
Third-party vendor selection & implementation.
Our hands-on business and technology expertise makes us the optimal companion in selecting and implementing a third-party software solution.
Support of in-house developments.
Our business experts support you in the development of your in-house solution – from strategy and conception to project management.