Emirates NBD in coalition with AWS to build an AI-enabled Bank

BFSI News

Emirates-NBD-in-coalition-with-AWS-to-build-an-AI-enabled-Bank Emirates NBD in coalition with AWS to build an AI-enabled BankDubai-based Emirates NBD, one of the largest banking groups in terms of assets in the middle-east, as per recent reports, has announced building an AI-optimized bank of the future with Amazon Web Services (AWS), in its attempt to provide a personalized retail customer banking experience.

“Emirates NBD and Amazon share common values of innovation and customer centricity and we look forward to leveraging AWS’s technologies and innovation practices to make banking more easy and intuitive for our customers,” states Suvo Sarkar, senior executive vice president and group head for retail banking and wealth management at Emirates NBD.

The Middle-Eastern bank aims at utilizing AWS data analytics, internet of things (IoT), natural language processing (NLP), and other advanced technologies as part of the bank’s ongoing customer engagement efforts to better the customer experience and further simplify the banking process.

According to the Middle-Eastern bank Emirates NBD, AWS’ “broad and deep” cloud service portfolio, along with the increased security and control offering is the reason why the bank squared in on AWS for its machine learning workloads.

Furthermore, Emirates NBD plans on taking advantage of AWS’ AI, cloud, and machine learning services, which includes Amazon SageMaker, a machine learning service for real-time banking experiences; Amazon Personalise, an AWS machine learning service that enables the development of individualized recommendations to launch new personalized retail banking applications; and Amazon Polly, a cloud service that by using deep learning technologies converts written content into human-like speech in its automated call center to enhance customer interactions by delivering “lifelike” voice banking experiences.