New standard is being set on how financial data is processed
Singapore-Bengaluru fintech iBind System’s corporate banking SaaS product is being integrated with Google Cloud’s http://cloud.google.com robust infrastructure and advanced generative AI technologies for frictionless banking.
This collaboration is set to transform how banks and financial institutions can streamline the on-boarding experience for their corporate customers by leveraging large language models (LLMs) to extract new financial insights and accelerate data summarization for frictionless banking https://digitalinasia.com/ .
iBind Systems http://www.ibindsystems.io is building a comprehensive suite of solutions that streamline onboarding, customer due diligence, and risk assessment for corporate banking by leveraging Web3 and AI solutions.
The collaboration with Google Cloud will focus on the following strategic objectives of iBind:
• Streamlining Corporate On-boarding: iBind Systems introduces the Entity Digital Locker within its Corporate Identity Platform (CIP), encompassing corporate onboarding solutions such as KYC, AML, entitlement management, credit assessment, and digital signatures. The Corporate on-boarding solution provides a secure, user-centric data-sharing system that streamlines the access to the financial services and further contributes to financial technology innovation.
• Enhancing Risk Assessment & Client Management with AI: iBind’s AI-powered risk assessment platform efficiently generates comprehensive risk profiles for corporations. Additionally, iBind revolutionizes personalized advertising for bank’s corporate customers, acting as a virtual Relationship Manager with AI-powered assistance. The partnership will leverage Google Cloud technologies and explore the development of specialized LLMs tailored for financial analysis. These models will enable institutions to conduct thorough and rapid analyses of financial disclosures, AML screening, enhancing risk and credit assessments with actionable insights with AI agents.
• Cloud Partner for Innovation: With the Google Cloud collaboration, iBind will continue to innovate in secure fintech products and build a robust corporate banking infrastructure. Google Cloud’s high-performance GPUs for training and serving complex data models will strengthen the commitment to delivering secure and innovative financial solutions.
“Today’s announcement with Google Cloud marks a significant milestone in our journey to redefine corporate banking with innovative technology,” said Co-Founders Santu Maity, Sanat Bhat, iBind Systems.
“By integrating our fintech solutions with Google Cloud’s advanced AI capabilities, we are setting a new standard in how financial data is processed and utilized, making financial operations faster, more accurate, and secure,” the duo explained in a release on 29 May 2024.
Subram Natrajan, Director of Customer Engineering at Google Cloud India, said, “Google Cloud is excited to collaborate with iBind Systems to push the boundaries of what’s possible in fintech. We are happy to work with iBind to empower banks and financial institutions with tools that are not only powerful but also intuitive and transformative.”
This collaboration represents a forward-thinking approach to financial technology, combining iBind’s expertise in corporate banking solutions with Google Cloud’s leadership in AI and cloud computing. Leveraging Google Cloud services, iBind Systems is set to transform the landscape of corporate banking, ushering in a new era of digital financial services. Fiinews.com
