Q&A with Henry Vaage Iversen, CCO & Co-Founder at Boost AI

Henry Vaage Iversen, CCO & Co-Founder at Boost AI, leads Boost.ai’s global sales teams and has expanded the business from the Nordics to Europe and the US. Henry has developed business ideas into real products, landed several deals for startups, and expanded businesses from Norway to Scandinavia.

Conversational AI can be used to make chatbots smarter and more capable, but that not all chatbots are powered by conversational AI.



MEDIA 7: What are you passionate about? What was your inspiration behind building a user-friendly conversational AI platform to help the frontline teams?
HENRY VAAGE IVERSEN:
When my co-founders and I started boost.ai in 2016, we identified a distinct gap in the market, not just here in the Nordic countries but throughout Europe and North America, for an enterprise-grade solution that could automate customer service at scale yet wasn’t so overly complicated to use. At that time there were either simplistic chatbot products that weren’t a great fit for larger organizations or complicated automation solutions that needed a team of data scientists to maintain.

My team and I are deeply passionate about customer experience and know that this is equally true for many businesses. We designed our conversational AI platform to make it simple and fast for large organizations like banks, insurance firms and credit unions to deploy AI-powered chatbots that, through our no-code software, can be operated by anyone.

It means that these organizations can empower their most valuable customer service resource - their customer service staff - to create dynamic and engaging automated customer experiences with their wealth of product knowledge and expertise. To date, we’ve helped leading financial brands like Santander, Nordea and MSU Federal Credit Union to digitize their customer service strategy and put the power of self-service directly into the hands of consumers.

M7: What are the advantages of using a Conversational AI platform? How does it outperform chatbots?
HVI:
Conversational AI is what makes it possible for chatbots to understand, process and respond intelligently to human language. What this means is that conversational AI can be used to make chatbots smarter and more capable, but that not all chatbots are powered by conversational AI.

We prefer using the term ‘virtual agents’ when talking about our conversational AI-powered bots because they can do so much more than just translate website content into simple chat responses. Conversational AI uses sophisticated deep learning and natural language algorithms to allow our virtual agents to perform complex tasks on behalf of customers. Everything from blocking a credit card and filing an insurance claim, to upgrading a data package or scanning a travel invoice, can be automated via a conversational interface that consumers have access to 24/7 without the need to call customer support.

Conversational AI also allows chatbots to understand when they don’t understand something and to respond accordingly. When queried about a topic outside of their defined scope, most basic chatbots will simply be unable to assist and this results in frustrated customers. Our solution includes a proprietary algorithm called Automatic Semantic Understanding that significantly reduces the occurrence of false positives and allows our virtual agents to intelligently transfer customers to an appropriate human operator when the AI identifies that this is necessary.


The pandemic greatly accelerated interest in conversational AI because of its ability to automate service and support traffic at scale but companies that weren’t already on-board needed to get solutions out fast without compromising on quality.



M7: Customers come from different backgrounds and understanding their slangs and dialects by an AI software is something unheard of. How does Boost AI establish a connection and deliver a personal touch while communicating with them?
HVI:
It’s not very Norwegian to brag, but the various algorithms that make up our conversational AI technology stack are actually pretty powerful. We don’t confine ourselves to just off-the-shelf Natural Language Processing algorithms and our team works hard to ensure that our virtual agents are fluent in some of the most difficult languages out there.

This is evidenced by our strong client base in countries like Iceland and Finland that are notoriously difficult languages to crack for AI. Many leading public and private sector organizations in these countries use our solution because of its proven track record at understanding the nuances of the way their customers speak.

Over 50% of our clients have come to us after being dissatisfied with other solutions and they overwhelmingly tell us how happy they are to have found a conversational AI platform that is exactly what they need - from a language understanding perspective and also because we make it easy for them to get started thanks to our experience in successfully launching over 200 virtual agents across Europe and North America.

M7: To achieve the above, there is a thin line to be maintained between personalization and privacy. How do you strike a balance between both?
HVI:
This is a great question. Privacy and security are important in today’s digitally-connected world and are a key component of our platform. We offer a variety of privacy features on the client-side of our solution such as single sign-on and two-factor authentication and, on the end-user side, we take GDPR very seriously and give users full control over their data. This includes data masking and the ability to delete conversations upon request.

Through user authentication, we are able to give our clients the power to personalize the chat experience for their customers by leveraging account information. This is great for enhancing interactions by suggesting products and services to customers that they may not be aware of but could be to their benefit.

M7: What do you believe are the top three marketing challenges in the post COVID-19 era?
HVI:
The ongoing pandemic has really put the responsibility on conversational AI vendors like us to put our money where our mouth is. It’s easy enough for vendors to say that their solutions are the most user-friendly or have the best technology, but when the pandemic hit last Spring, it really illustrated the weak points in some strategies. We witnessed that our broad-scope approach to conversational AI was very successful in helping our clients handle unprecedented increases in customer service traffic during the early days of Covid. We had real success stories with some clients reporting that their virtual agents handled the equivalent work of 220 full-time employees at a time when it was impossible to scale up human support quickly enough.

We also encountered challenges when it came to implementation. The pandemic greatly accelerated interest in conversational AI because of its ability to automate service and support traffic at scale but companies that weren’t already on-board needed to get solutions out fast without compromising on quality. This led us to develop what we call self-learning AI that allows us to significantly reduce deployment timelines by scanning a company’s existing website, chat logs or even another chatbot and repurposing it into a useable model in a matter of hours. Then, instead of a sandbox trial or limited demo, we can build prospective clients a fully-functioning virtual agent, based on KPIs that they set, in a 10-day POC, for free and with no risk attached.


We live by three words at boost.ai - fast, easy and scalable. It is the basis of everything we do - from the development of our platform to our sales promise.



M7: Being the CCO, what strategies and tactics have you put in place or would you like to put in place to help drive revenue?
HVI:
At boost.ai, we are all about our partner network. We work with some of the biggest consultancy firms in the world like Accenture and Deloitte as implementation partners in key markets. We also work with smaller, specialist partners that understand many of the local markets that we operate in and have a great network of existing clients that benefit from our customer service automation platform. Having this extensive partner network allows us to focus on building a fantastic product that our partners can then take to market with the confidence that it can achieve everything that we promise. We have found that this partner-first approach has been key to driving revenue for the company over the past few years and in 2020 I’m excited to say that we hit annual recurring revenues of $10 million.

M7: What is your marketing mantra to stand out in the fast-paced AI market?
HVI:
We live by three words at boost.ai - fast, easy and scalable. It is the basis of everything we do - from the development of our platform to our sales promise - and believe that it’s only by keeping these goals in mind that we can help organizations around the world build the most transformative customer experiences.

ABOUT BOOST AI

Boost.ai specializes in enterprise-grade conversational artificial intelligence (AI). Inventor of the world’s most user-friendly conversational AI platform, Boost.ai empowers frontline customer service teams to automate customer service interactions with proprietary self-learning AI and a no-code solution that’s quick to deploy, easy to learn and highly scalable. Able to handle unlimited intents while consistently maintaining resolution rates of 90 percent, Boost.ai’s technology is used by companies like Telenor, DNB and Silvercar by Audi to successfully automate thousands of interactions. Boost.ai is a privately held Norwegian software company founded in 2016 with headquarters in Stavanger and satellite offices in Oslo, Stockholm and Santa Monica.

More C-Suite on deck

‘Crypto will promote a huge change in the financial service ecosystem,’ believes Roberta Antunes

Media 7 | November 24, 2021

Roberta Antunes, Chief of Growth at Hashdex, takes us through her wonderful professional journey and shares how Hashdex provides investors with secure access to cryptocurrency assets. Read on to find out how blockchain technology will redefine the financial service ecosystem.

Read More

'There is a revenue relationship between marketing and sales,' says Debbie Qaqish, Partner and Chief Strategy Officer at The Pedowitz Group

Media 7 | October 21, 2021

Debbie Qaqish, Partner and Chief Strategy Officer at The Pedowitz Group, takes us through her passion-fuelled worldview of marketing operations that are strategically aimed to drive revenue. In this interview, we had the opportunity to take a peek at her concept of "revenue marketing," strategic marketing operations, and her inspiration behind authoring several award-winning books. Read on to find out how to optimize sales and marketing collaboration tools, and how to leverage data to create powerful marketing campaigns.

Read More

‘Crypto will promote a huge change in the financial service ecosystem,’ believes Roberta Antunes

Media 7 | November 24, 2021

Roberta Antunes, Chief of Growth at Hashdex, takes us through her wonderful professional journey and shares how Hashdex provides investors with secure access to cryptocurrency assets. Read on to find out how blockchain technology will redefine the financial service ecosystem.

Read More

‘Crypto will promote a huge change in the financial service ecosystem,’ believes Roberta Antunes

Media 7 | November 24, 2021

Roberta Antunes, Chief of Growth at Hashdex, takes us through her wonderful professional journey and shares how Hashdex provides investors with secure access to cryptocurrency assets. Read on to find out how blockchain technology will redefine the financial service ecosystem.

Read More

'There is a revenue relationship between marketing and sales,' says Debbie Qaqish, Partner and Chief Strategy Officer at The Pedowitz Group

Media 7 | October 21, 2021

Debbie Qaqish, Partner and Chief Strategy Officer at The Pedowitz Group, takes us through her passion-fuelled worldview of marketing operations that are strategically aimed to drive revenue. In this interview, we had the opportunity to take a peek at her concept of "revenue marketing," strategic marketing operations, and her inspiration behind authoring several award-winning books. Read on to find out how to optimize sales and marketing collaboration tools, and how to leverage data to create powerful marketing campaigns.

Read More

‘Crypto will promote a huge change in the financial service ecosystem,’ believes Roberta Antunes

Media 7 | November 24, 2021

Roberta Antunes, Chief of Growth at Hashdex, takes us through her wonderful professional journey and shares how Hashdex provides investors with secure access to cryptocurrency assets. Read on to find out how blockchain technology will redefine the financial service ecosystem.

Read More

Related News

Trading Systems

Finastra and ELCY partner to bring Corporate Trade Finance Portal to market

PR Newswire | October 23, 2023

Finastra, a global provider of financial software applications and marketplaces, is partnering with ELCY, a specialist in e-commerce solutions for the processing of international trade finance, to provide a trade finance solution for corporates. The Corporate Trade Finance Portal from Finastra and ELCY will enable corporates to communicate in a secure and authenticated manner with all their banks through one centralized platform. As a result, corporates will benefit from greater visibility and real-time control of all trade finance exposures across their organizations. The transition away from the complexity of connecting to multiple bank proprietary systems and the removal of inefficient paper-based processes will also deliver significant cost and efficiency savings. Finastra is thrilled to build on our long-term relationship with ELCY through a global collaboration that creates immediate value for both parties, said Jaime Lynn, Vice President, Enterprise Solutions, Finastra. ELCY brings a wealth of expertise in meeting the trade finance needs of corporates, while Finastra meets the end-to-end digitization needs of banks focused on international trade and supply chain finance. Our close collaboration with ELCY expands our suite of solutions for corporates, enabling them to connect to all banks supplying them trade finance through a single portal. Corporate users benefit from much greater visibility and control in managing their cash flow and trade finance exposures and in reducing risk. Robin Cohen, Chief Executive Officer, ELCY added: "Our partnership with Finastra will further increase our visibility and reach in the market, helping us deliver the benefits of our multi-bank portal solution to corporates globally. Customers using our joint Corporate Trade Finance Portal will be equipped to communicate seamlessly, both on the import and export side, with any SWIFT-enabled bank in the world to manage their day-to-day trade finance processing. All instructions or messages sent through the portal can be tailored to conform with the message type preferred by the bank in question. Furthermore, the portal includes extensive modular functionality enabling corporates to monitor counterparty and bank exposure, manage global bank limits and provide reports for credit and treasury departments all in real time." The Corporate Trade Finance Portal is available as a cloud-based, multi-tenant SaaS solution meaning no software installation is required on site and all users benefit from the ability to adapt quickly to new market requirements through centrally-managed software upgrades.

Read More

Fintech

Alloy expands credit underwriting offering to help banks and fintechs make more efficient, inclusive credit decisions

PR Newswire | October 19, 2023

Alloy, the identity risk management company, is expanding its credit underwriting capabilities to support banks, fintechs, and other builders of financial products in managing their holistic credit risk. In a challenging macro-environment, Alloy enables lenders to make smarter credit decisions, capture default risk, and increase revenue by identifying upsell and cross-sell opportunities. Alloy also automates credit line management and product remarketing, helping lenders maintain appropriate credit limits and proactively extend new product offers to customers. Lenders rely on Alloy's established credit underwriting capabilities to offer credit products to more people with less risk. Alloy allows lenders to automate their credit decisions using identity data gathered during onboarding, credit bureau data, and alternative underwriting data. Lenders can make credit decisions using custom models, building anything from basic workflows to complex matrix models right within Alloy. Alloy's updated credit offering builds upon these existing capabilities to offer a comprehensive and proactive approach to credit management beyond origination, enabling banks and fintechs to monitor for credit risk throughout the customer lifecycle. New features include: Automated, scheduled checks using the richest set of credit signals to monitor the ongoing financial health of borrowers: Lenders can incorporate fresh data pulls into their decisioning from a wide range of third party data sources: including credit bureau data, alternative underwriting data, and their own proprietary data. This comprehensive approach enables lenders to build a more complete picture of a borrower's creditworthiness and potential risks and carry out more data-driven decisions. Real-time alerts sent to lenders to notify them about changes in a borrower's risk (e.g. if a borrower declares bankruptcy): Lenders can then take proactive measures to prevent the accumulation of high-risk loans. Automated line management: Lenders can maintain appropriate credit limits and terms through continuous monitoring to determine if customers qualify for a credit line change based on behavior and automatically conduct line adjustments. Automated credit remarketing process: Lenders can monitor positive customer behaviors like timely repayments and salary increases and can offer good customers new products, ultimately increasing their company revenue. Historically, lenders have had to rely on point-in-time, siloed information about their borrowers, said Parilee Wang, Chief Product Officer at Alloy. With Alloy, lenders have a holistic solution for building a more complete picture of a borrower's ongoing creditworthiness and potential risks. Alloy's product investment in the credit space comes as U.S. consumer credit card debt has topped $1 trillion for the first time in history. As many borrowers face increased financial strain impacting their ability to repay debts, lenders may be forced to make difficult decisions about the creditworthiness of their applicants. At the same time, as revolving credit usage grows and consumers demand personalized, seamless experiences from their financial institutions, lenders are challenged with remaining top of wallet and staying ahead of competitors. "We were so excited to find a credit underwriting solution that lets us proactively manage our credit risk and allows us to rely on automated decisioning," said Bobby Parker, Head of Credit at PEX Card. "The configurable platform allows us to be nimble, and we can make critical underwriting changes quickly with the appropriate controls in place. Furthermore, with the A/B test feature, and pre-built integrations with salient data providers, we can ensure our decisions are driven by data and information gain. Leaning on this solution will give us the ability to prudently grow our portfolio while driving strong risk adjusted returns." "We knew building our platform would require us to partner with best-in-class fraud prevention, compliance, and credit decisioning capabilities," said David Anderson, Co-Founder and CPO at Tandym, a consumer credit card issuer and Alloy client. "We wanted a solution that was flexible, easy to use, pre-baked with integrations, and that made adding new data sources and making changes to our policy simple and seamless. Using Alloy's Identity Risk Solution for credit underwriting provided us with the tools to create more complex configurations to deliver better and more tailored results." Alloy offers the broadest coverage of third-party data in the industry with more than 190 data sources, including credit bureaus and alternative credit data providers. Some of Alloy's partners in the credit space include: Equifax Experian Transunion Nova Credit FIS Zest AI Prism Data Inscribe Codat About Alloy Alloy solves the identity risk problem for companies that offer financial products. Today, nearly 500 banks and fintechs turn to Alloy's end-to-end identity risk management platform to take control of fraud, credit, and compliance risk, and grow with confidence. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.

Read More

Financial Management

LTX by Broadridge Launches BondGPT+ To Empower Enterprise Financial Services Clients with Custom Generative AI Solutions

PR Newswire | October 20, 2023

LTX, a subsidiary of global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of BondGPT+, the enterprise version of its award-winning BondGPT application, which incorporates Broadridge's unique patent-pending technology and OpenAI GPT-4 to answer complex bond-related questions and rapidly assist users in their identification of corporate bonds on the LTX platform. BondGPT+ contains a range of new capabilities focused on the needs of its most sophisticated enterprise clients. Since the successful launch of BondGPT in June 2023, we have received overwhelmingly positive feedback and thoughtful suggestions from our clients, said Jim Kwiatkowski, CEO of LTX. Based on that feedback, we have moved quickly to incorporate clients' own data as well as a range of new features in the second generation of BondGPT. The result is that BondGPT+ not only meets our clients' enterprise requirements, but also sets a new standard for generative AI solutions in the financial industry by providing a single natural language interface for seamless access to much of the data used by busy fixed income professionals. Enterprise data and workflow integration BondGPT+ allows clients to securely integrate their own data and other third-party datasets, providing easier access to critical information. Offering multiple implementation options and a robust API suite, BondGPT+ seamlessly integrates into clients' enterprise applications, including trading workflows. This means businesses can harness the full spectrum of BondGPT+'s natural language capabilities to receive quick answers to complex questions, which can help clients optimize portfolio strategies and make better-informed trading decisions when time is of the essence. User-level customization and premium features The personalized BondGPT+ dashboard with resizable answer panels allows users to take up as much or as little screen real estate as required. Critical questions can be saved as "favorites" on the dashboard and scheduled to run at a desired frequency, time of day, or when key data changes. Users can tailor BondGPT+ to their requirements by adding preferences that should be considered when generating responses. For example, if a user or firm has a policy where they only trade high yield bonds that are above a certain credit rating, BondGPT+ can be instructed to only include those types of bonds in its responses. Accuracy, security, and control From the first instance, BondGPT was created with architectural design patterns that ensure accuracy, data security, and privacy. These principles are equally central to BondGPT+ enterprise implementations, and they are especially critical given the capabilities within BondGPT+ to integrate with proprietary client data and systems. Because it was purpose-built for institutional fixed income users, accuracy is paramount in BondGPT, and BondGPT+ continues this heritage. The application relies on verified, curated data sources, which mitigates hallucination risk and eliminates the need to pass sensitive data through the LLM. Further, explainable AI capabilities allow users and administrators to understand how BondGPT+ arrives at its responses. The patent-pending technology behind the "Show your work" feature offers transparency by showing, step-by-step, how each response was created. Another key differentiator of BondGPT+ is its focus on enterprise control and governance. With its Admin Center, system administrators gain the ability to configure various levels of data access through user and firm level entitlements. BondGPT+ builds on BondGPT's AI-powered compliance layer, allowing compliance officers at client firms to add custom rules based on their firm's unique compliance and risk management processes. AI-powered usage analysis provides invaluable insights into user interactions with BondGPT, offering businesses a powerful tool for improving user engagement. "Generative AI has the potential to transform the financial services industry by bringing unparalleled efficiencies to core operations," said Jean Sullivan of Celent. "BondGPT is a transformative industry-first use case that enables streamlined pre-trade fixed income workflows. By integrating BondGPT+'s natural language capabilities and curated data sources with clients' own data in their own systems, LTX is helping market participants make smarter, more streamlined decisions through easier access to the mountains of disparate data they deal with every day."

Read More

Trading Systems

Finastra and ELCY partner to bring Corporate Trade Finance Portal to market

PR Newswire | October 23, 2023

Finastra, a global provider of financial software applications and marketplaces, is partnering with ELCY, a specialist in e-commerce solutions for the processing of international trade finance, to provide a trade finance solution for corporates. The Corporate Trade Finance Portal from Finastra and ELCY will enable corporates to communicate in a secure and authenticated manner with all their banks through one centralized platform. As a result, corporates will benefit from greater visibility and real-time control of all trade finance exposures across their organizations. The transition away from the complexity of connecting to multiple bank proprietary systems and the removal of inefficient paper-based processes will also deliver significant cost and efficiency savings. Finastra is thrilled to build on our long-term relationship with ELCY through a global collaboration that creates immediate value for both parties, said Jaime Lynn, Vice President, Enterprise Solutions, Finastra. ELCY brings a wealth of expertise in meeting the trade finance needs of corporates, while Finastra meets the end-to-end digitization needs of banks focused on international trade and supply chain finance. Our close collaboration with ELCY expands our suite of solutions for corporates, enabling them to connect to all banks supplying them trade finance through a single portal. Corporate users benefit from much greater visibility and control in managing their cash flow and trade finance exposures and in reducing risk. Robin Cohen, Chief Executive Officer, ELCY added: "Our partnership with Finastra will further increase our visibility and reach in the market, helping us deliver the benefits of our multi-bank portal solution to corporates globally. Customers using our joint Corporate Trade Finance Portal will be equipped to communicate seamlessly, both on the import and export side, with any SWIFT-enabled bank in the world to manage their day-to-day trade finance processing. All instructions or messages sent through the portal can be tailored to conform with the message type preferred by the bank in question. Furthermore, the portal includes extensive modular functionality enabling corporates to monitor counterparty and bank exposure, manage global bank limits and provide reports for credit and treasury departments all in real time." The Corporate Trade Finance Portal is available as a cloud-based, multi-tenant SaaS solution meaning no software installation is required on site and all users benefit from the ability to adapt quickly to new market requirements through centrally-managed software upgrades.

Read More

Fintech

Alloy expands credit underwriting offering to help banks and fintechs make more efficient, inclusive credit decisions

PR Newswire | October 19, 2023

Alloy, the identity risk management company, is expanding its credit underwriting capabilities to support banks, fintechs, and other builders of financial products in managing their holistic credit risk. In a challenging macro-environment, Alloy enables lenders to make smarter credit decisions, capture default risk, and increase revenue by identifying upsell and cross-sell opportunities. Alloy also automates credit line management and product remarketing, helping lenders maintain appropriate credit limits and proactively extend new product offers to customers. Lenders rely on Alloy's established credit underwriting capabilities to offer credit products to more people with less risk. Alloy allows lenders to automate their credit decisions using identity data gathered during onboarding, credit bureau data, and alternative underwriting data. Lenders can make credit decisions using custom models, building anything from basic workflows to complex matrix models right within Alloy. Alloy's updated credit offering builds upon these existing capabilities to offer a comprehensive and proactive approach to credit management beyond origination, enabling banks and fintechs to monitor for credit risk throughout the customer lifecycle. New features include: Automated, scheduled checks using the richest set of credit signals to monitor the ongoing financial health of borrowers: Lenders can incorporate fresh data pulls into their decisioning from a wide range of third party data sources: including credit bureau data, alternative underwriting data, and their own proprietary data. This comprehensive approach enables lenders to build a more complete picture of a borrower's creditworthiness and potential risks and carry out more data-driven decisions. Real-time alerts sent to lenders to notify them about changes in a borrower's risk (e.g. if a borrower declares bankruptcy): Lenders can then take proactive measures to prevent the accumulation of high-risk loans. Automated line management: Lenders can maintain appropriate credit limits and terms through continuous monitoring to determine if customers qualify for a credit line change based on behavior and automatically conduct line adjustments. Automated credit remarketing process: Lenders can monitor positive customer behaviors like timely repayments and salary increases and can offer good customers new products, ultimately increasing their company revenue. Historically, lenders have had to rely on point-in-time, siloed information about their borrowers, said Parilee Wang, Chief Product Officer at Alloy. With Alloy, lenders have a holistic solution for building a more complete picture of a borrower's ongoing creditworthiness and potential risks. Alloy's product investment in the credit space comes as U.S. consumer credit card debt has topped $1 trillion for the first time in history. As many borrowers face increased financial strain impacting their ability to repay debts, lenders may be forced to make difficult decisions about the creditworthiness of their applicants. At the same time, as revolving credit usage grows and consumers demand personalized, seamless experiences from their financial institutions, lenders are challenged with remaining top of wallet and staying ahead of competitors. "We were so excited to find a credit underwriting solution that lets us proactively manage our credit risk and allows us to rely on automated decisioning," said Bobby Parker, Head of Credit at PEX Card. "The configurable platform allows us to be nimble, and we can make critical underwriting changes quickly with the appropriate controls in place. Furthermore, with the A/B test feature, and pre-built integrations with salient data providers, we can ensure our decisions are driven by data and information gain. Leaning on this solution will give us the ability to prudently grow our portfolio while driving strong risk adjusted returns." "We knew building our platform would require us to partner with best-in-class fraud prevention, compliance, and credit decisioning capabilities," said David Anderson, Co-Founder and CPO at Tandym, a consumer credit card issuer and Alloy client. "We wanted a solution that was flexible, easy to use, pre-baked with integrations, and that made adding new data sources and making changes to our policy simple and seamless. Using Alloy's Identity Risk Solution for credit underwriting provided us with the tools to create more complex configurations to deliver better and more tailored results." Alloy offers the broadest coverage of third-party data in the industry with more than 190 data sources, including credit bureaus and alternative credit data providers. Some of Alloy's partners in the credit space include: Equifax Experian Transunion Nova Credit FIS Zest AI Prism Data Inscribe Codat About Alloy Alloy solves the identity risk problem for companies that offer financial products. Today, nearly 500 banks and fintechs turn to Alloy's end-to-end identity risk management platform to take control of fraud, credit, and compliance risk, and grow with confidence. Founded in 2015, Alloy is powering the delivery of great financial products to more customers around the world. Learn more at alloy.com.

Read More

Financial Management

LTX by Broadridge Launches BondGPT+ To Empower Enterprise Financial Services Clients with Custom Generative AI Solutions

PR Newswire | October 20, 2023

LTX, a subsidiary of global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of BondGPT+, the enterprise version of its award-winning BondGPT application, which incorporates Broadridge's unique patent-pending technology and OpenAI GPT-4 to answer complex bond-related questions and rapidly assist users in their identification of corporate bonds on the LTX platform. BondGPT+ contains a range of new capabilities focused on the needs of its most sophisticated enterprise clients. Since the successful launch of BondGPT in June 2023, we have received overwhelmingly positive feedback and thoughtful suggestions from our clients, said Jim Kwiatkowski, CEO of LTX. Based on that feedback, we have moved quickly to incorporate clients' own data as well as a range of new features in the second generation of BondGPT. The result is that BondGPT+ not only meets our clients' enterprise requirements, but also sets a new standard for generative AI solutions in the financial industry by providing a single natural language interface for seamless access to much of the data used by busy fixed income professionals. Enterprise data and workflow integration BondGPT+ allows clients to securely integrate their own data and other third-party datasets, providing easier access to critical information. Offering multiple implementation options and a robust API suite, BondGPT+ seamlessly integrates into clients' enterprise applications, including trading workflows. This means businesses can harness the full spectrum of BondGPT+'s natural language capabilities to receive quick answers to complex questions, which can help clients optimize portfolio strategies and make better-informed trading decisions when time is of the essence. User-level customization and premium features The personalized BondGPT+ dashboard with resizable answer panels allows users to take up as much or as little screen real estate as required. Critical questions can be saved as "favorites" on the dashboard and scheduled to run at a desired frequency, time of day, or when key data changes. Users can tailor BondGPT+ to their requirements by adding preferences that should be considered when generating responses. For example, if a user or firm has a policy where they only trade high yield bonds that are above a certain credit rating, BondGPT+ can be instructed to only include those types of bonds in its responses. Accuracy, security, and control From the first instance, BondGPT was created with architectural design patterns that ensure accuracy, data security, and privacy. These principles are equally central to BondGPT+ enterprise implementations, and they are especially critical given the capabilities within BondGPT+ to integrate with proprietary client data and systems. Because it was purpose-built for institutional fixed income users, accuracy is paramount in BondGPT, and BondGPT+ continues this heritage. The application relies on verified, curated data sources, which mitigates hallucination risk and eliminates the need to pass sensitive data through the LLM. Further, explainable AI capabilities allow users and administrators to understand how BondGPT+ arrives at its responses. The patent-pending technology behind the "Show your work" feature offers transparency by showing, step-by-step, how each response was created. Another key differentiator of BondGPT+ is its focus on enterprise control and governance. With its Admin Center, system administrators gain the ability to configure various levels of data access through user and firm level entitlements. BondGPT+ builds on BondGPT's AI-powered compliance layer, allowing compliance officers at client firms to add custom rules based on their firm's unique compliance and risk management processes. AI-powered usage analysis provides invaluable insights into user interactions with BondGPT, offering businesses a powerful tool for improving user engagement. "Generative AI has the potential to transform the financial services industry by bringing unparalleled efficiencies to core operations," said Jean Sullivan of Celent. "BondGPT is a transformative industry-first use case that enables streamlined pre-trade fixed income workflows. By integrating BondGPT+'s natural language capabilities and curated data sources with clients' own data in their own systems, LTX is helping market participants make smarter, more streamlined decisions through easier access to the mountains of disparate data they deal with every day."

Read More

Spotlight

Boost.ai

Boost.ai

Boost.ai specializes in enterprise-grade conversational artificial intelligence (AI). Inventor of the world’s most user-friendly conversational AI platform, Boost.ai empowers frontline customer service teams to automate customer service interactions with proprietary self-learning AI and a no-code so...

Events

Resources