100+ AI and Generative AI Use Cases in Banks
In today’s fast-paced digital era, proficiency in AI’s role within banking isn’t just beneficial—it’s necessary. CFTE has conducted extensive research into AI implementations across international banks such as Citi, JP Morgan, and OCBC, offering an unmatched resource on the transformative power of AI in finance.
100+ AI and Generative AI Use Cases in Banks
In today’s fast-paced digital era, proficiency in AI’s role within banking isn’t just beneficial—it’s necessary. CFTE has conducted extensive research into AI implementations across international banks such as Citi, JP Morgan, and OCBC, offering an unmatched resource on the transformative power of AI in finance.
£50 to unlock more than 100+ AI applications (updated monthly)
A new financial system is emerging
The financial system is undergoing a total transformation with AI and Generative AI, with 99% of financial institutions deploying AI in 2023, as mentioned by EY.
This revolution brings immense potential, but as we look ahead to 2024, it’s crucial for everyone involved to truly understand the diverse applications of AI and to ensure that we’re equipped with the right skills to leverage its power effectively.
AI is the new electricity. Just as electricity transformed industries 100 years ago, AI will transform virtually every major industry today.
Andrew Ng, Founder of DeepLearning.AI
AI use cases across all verticals in banks
Explore our database of categorised AI applications, customised for various functions in banking. Whether you’re interested in Product Management, Trading and Execution, Client Engagement, Operation, or Compliance, our guide has you covered.
No | Name of the Application | Brief | Organisation | Status | Country | Function | Link |
---|---|---|---|---|---|---|---|
1 | OCBC GPT | OCBC streamlines operations and personalises services with AI-powered assistants, empowering employees and enhancing customer experience. | OCBC | Live | Singapore | Product management | View |
2 | OCBC Buddy | A banking-focused Private-GPT and Personal Companion used by employees at OCBC in Singapore alongside Enterprise Applications. | OCBC | Live | Singapore | Enterprise Applications | View |
3 | OCBC Whisper | An Advanced AI and Speech-to-text Private-GPT used by OCBC Analysts in Singapore for Client Engagement. | OCBC | Live | Singapore | Client engagement | View |
4 | OCBC Wingman | A Coding Assistant designed to boost the productivity of developers and quicken the deployment of digital banking solutions at OCBC. | OCBC | Live | Singapore | Operation | View |
5 | IndexGPT | An AI-powered virtual assistant that will make it easier for JPMorgan's clients to manage their money by offering investment advice & financial information. | JP Morgan | Developing | Global | Sales and Marketing | View |
6 | COiN | A Private-GPT with image recognition capabilities developed for JPMorgan employees to enable them to offer better risk and compliance services. | JP Morgan | Live | Global | Risk and compliance | View |
7 | AI @ Morgan Stanley Assistant | JPMorgan's AI Assistant that streamlines access to financial Knowledge and research insights with unprecedented speed. | Morgan Stanley | Live | Global | Product management | View |
8 | Banking Avatar | An advanced Virtual assistant powered by Generative-AI, used by Commerzbank to enhance client Banking Experiences. | Commerzbank | Developing | Global | Client engagement | View |
9 | Information Unavailable | A series of advanced GPT Models designed to boost the efficiency of Citi Bank's employees by automating document handling & summarisation tasks. | Citi Bank | Live | Global | Operation | View |
10 | SoftwareMining Translator | A Generative-AI powered computer language translator designed to shorten development time at Citi bank by converting legacy languages like Cobol to more recent languages like Java. | Citi Bank | Live | Global | Operation | View |
11 | Citi Bank's earnings summariser | Streamline product management for Citi employees with enterprise-wide solution, boosting efficiency and enabling insightful analysis of quarterly earnings. | Citi Bank | Live | Global | Operation | View |
12 | Citi Bank's error finder | Empowering loan contract payment error detection and risk mitigation for enhanced compliance. | Citi Bank | Live | Global | Operation | View |
13 | Goldman Sachs coding assistant | Unleash enterprise-wide productivity with our AI-powered coding assistant that translates natural language to code and generates documentation. | Goldman Sachs | Live | Global | Operation | View |
14 | Aiden | An advanced AI-based electronic trading platform that uses deep reinforcement learning for executing trading in capital markets. | RBC Capital Markets | Live | Global | Trading and Execution | View |
15 | NOMI | A Digital Integration for financial services that uses Borealis AI's technology to enhance client engagement at RBC Capital Markets. | RBC Capital Markets | Live | Canada | Client engagement | View |
16 | Turing by Borealis AI | Royal Bank of Canada empowers enterprise with Turing by Borealis AI, an interpretable text-to-SQL interface boosting employee efficiency in data access. | Borealis AI | Live | Global | Operation | View |
17 | Prism | A Machine Learning-based Trading Algorithm Platform designed to provide AI-Enhanced Trading Simulation | Borealis AI | Live | Global | Operation | View |
18 | Fargo | A Multilingual AI Assistant built on Google Dialogflow and leveraging Google’s PaLM 2 LLM to provide everyday banking services to customers of Wells Fargo. | Wells Fargo & Company | Live | Global | Trading and Execution | View |
19 | Commonwealth Bank's customer personas | CBA leverages generative AI for "synthetic customers," testing client engagement for new retail banking products and services. | Commonwealth Bank of Australia (CBA) | Developing | Global | Client engagement | View |
20 | ADA | An AI-driven Platform-as-a-service designed to streamlining data governance and centralise the use of data across DBS Bank. | DBS Bank | Live | Global | Operation | View |
21 | ALAN | An internal AI protocol and knowledge repository set up to streamline the development and deployment of AI models within the DBS Bank. | DBS Bank | Live | Global | Operation | View |
22 | NOA (NextGen Online Assistant) | A conversational AI-powered online assistant desiged to provide banking clients with contextual information in line with Securities Services by leveraging advanced machine learning. | BNP Paribas Securities Services | Live | Global | Operation | View |
23 | BNB Paribas' document analyser | BNP Paribas elevates employee efficiency with AI-powered document analysis, empowering product managers to navigate complex financial information. | BNB Paribas | Live | Global | Client engagement | View |
24 | Dynamic Risk Assessment (DRA) | A real-time risk assessment tool powered by Google Cloud's AML AI , designed to enhance fraud detection by improving the speed and accuracy of identifying suspicious activities at HSBC. | HSBC (HSBC Holdings PLC) | Live | Global | Product management | View |
25 | BNY Mellon AI tool | BNY Mellon strengthens KYC, AML, and risk management with Quantexa's AI, enhancing entity resolution and client network analysis for superior compliance. | The Bank of New York Mellon (BNY Mellon) | Live | Global | Risk and compliance | View |
26 | Erica | AI-powered virtual assistant developed by the Bank of America that uses predictive analytics and natural language processing to provide personalised financial guidance and streamline operations. | Bank of America | Live | Global | Client engagement | View |
27 | Bank of Montreal's vistual assistant | BMO leverages NLP to analyse call transcripts, boosting customer service through issue identification, agent compliance, and efficient call categorisation. | Bank of Montreal (BMO) | Live | Global | Client engagement | View |
28 | Bank of Montreal's NLP tool | BMO leverages NLP to analyse call transcripts, boosting customer service through issue identification, agent compliance, and efficient call categorisation. | Bank of Montreal (BMO) | Live | Global | Client engagement | View |
29 | Scotia Smart Investor | An AI-powered investment management tool designed by Scotiabank to foster client engagement by providing personalised financial planning and investment advice. | Scotiabank | Live | Global | Client engagement | View |
30 | Cora | A human-like virtual assistant powered by Generative AI designed to provide customers at NatWest a seamless conversational experience. | NatWest | Live | Global | Client engagement | View |
31 | nCino IQ (nIQ®) | A advanced financial process automation tool designed to boosting overall efficiency by automating key processes and shortening the time needed to make decisions. | Natixis CIB | Live | Global | Operation | View |
32 | Nova | Virtual agents powered by Boost.ai, designed to revolutionise its customer service at Nordea through advanced conversation AI capabilities. | Nordea | Live | Global | Product management | View |
33 | CollectEdge ML platform | An advanced tool that integrates machine learning to improve debt collection, customer segmentation and outreach strategies in Citizens Bank. | Citizens Bank | Developing | Global | Product management | View |
34 | Pega Platform™ | An AI-powered tool integrated with Robotic Process Automation and Optical character recognition for automating complex and manual processes to steamline banking operations. | First Citizens Bank | Live | Global | Client engagement | View |
35 | FABA (Featurespace’s Adaptive Behavioural Analytics) | A AI-powered Behavioural Analytics solution that quickly adapts to flag, prevent and streamline responses to fraudulent patterns and activities in operations at Barclays Bank. | Barclays Bank | Live | Global | Risk and compliance | View |
36 | ABN AMRO's Doc summariser | ABN AMRO empowers advisors with IBM Watson Assistant, an AI document summarisation tool that boosts efficiency and facilitates informed product recommendations. | ABN Amro | Live | Global | Product management | View |
37 | Intesa Sanpaolo's document analyser | An advanced AI Analytics Solution developed by Intesa Sanpaolo in collaboration with iGenius to empower Data-Driven Decision-Making through AI-powered business intelligence. | Intesa Sanpaolo | Live | Global | Product management | View |
38 | Crédit Agricole's document analyser | Crédit Agricole strengthens fraud prevention with a centralised AI platform for document analysis and customer data insights, safeguarding advisors and clients. | Crédit Agricole Corporate and Investment Banking (CACIB) | Live | Global | Risk and compliance | View |
39 | Lloyds Bank's insights generator | Lloyds Banking Group leverages call analytics to unlock customer insights, fueling advisor training and optimising client service. | Aveni AI and Cavendish Online | Live | Global | Client engagement | View |
40 | Truist Assist | A Digital virtual assistant powered by NLP and NLU to provide instant customer support and financial insights to foster customer engagement. | Truist Financial Corporation | Live | Global | Client engagement | View |
41 | Genesys Cloud CX™ platform | An AI-Powered Solution powered by Genesys Cloud CX developed by Rabobank for providing conversational banking solutions to directly customers. | Rabobank | Live | Global | Product management | View |
42 | TextReveal® API and Dashboards | An AI-powered analytics integration that works with core banking tools to provide corporate banking analytics through Advanced AI Insights. | Raiffeisen Bank International (RBI) | Live | Global | Product management | View |
43 | Westpac's AI assistant | Westpac accelerates engineering efficiency with 1000+ AI-powered coding assistants by year-end, harnessing generative AI's potential. | Westpac Banking Corporation | Live | Global | Operation | View |
44 | Pay Yourself First | An AI-powered savings advisor developed by U.S. Bank to enable customers to transforming their savings with smart, personalised financial guidance. | U.S. Bank | Live | Global | Client engagement | View |
45 | NAB Liquidity+ | An AI-driven cash management tool powered by Trovata, designed to aggregate critical banking data, provide insights and financial forecasting, | National Australia Bank (NAB) | Live | Global | Client engagement | View |
46 | Z-GPT | An AI-driven banking Custom-GPT that gives employees at ANZ immediate access to information, report insights and future prospects for customer self-service | Australia and New Zealand Banking Group (ANZ) | Live | Global | Product management | View |
47 | CIBC Insights | CIBC Insights is an AI-driven feature within the CIBC Mobile Banking App that provides personalised financial advice and insights to help clients manage their spending and savings. | CIBC Insights | Live | Global | Product management | View |
48 | UniCredit Chatbot | UniCredit Chatbot streamlines hiring with AI-powered interviews, assessing candidate fit and providing valuable data for both recruiters and applicants. | UniCredit Bank | Live | Czech Republic and Slovakia | Client engagement | View |
49 | Conpend's TRADE AI app | An AI-powered platform designed to digitise trade finance with the aim of improving efficiency, compliance, reducing the likelihood of errors. | Danske Bank | Live | Global | Risk and compliance | View |
50 | Crédit Mutuel's AI advisor | Crédit Mutuel empowers advisors with IBM Watson, boosting customer service accuracy by 60% and tackling 50% of daily emails for enhanced client engagement. | Crédit Mutue | Live | Global | Risk and compliance | View |
51 | Bud.AI | A Generative AI assistant that enables consumers and banks use conversations to make sense of complex financial data. | Bud Financials | Live | Global | Operations | View |
52 | Andi® Copilot | Andi Copilot is an AI-enhanced tool specifically designed for bankers, that combines Q2's proprietary technology and data insights to drive efficiency and compliance in banking operations. | Q2 Holdings | Live | Global | Operations | View |
What will you get from the list?
Learn the key AI and Generative AI applications in international banks
Comprehensive AI Taxonomy
Dive into a detailed taxonomy of AI applications across various banking functions, designed to enhance your strategic insights.
In-depth Application Analysis
Each of the AI application comes with a thorough analysis including objectives, key features, opportunities, challenges, and current application status.
Accessible Knowledge
Gain instant access to downloadable PDFs for each application, ready to be utilised for your learning and implementation needs.
Explore AI applications and understand the dynamic changes in the financial world.
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Explore AI use cases in banks
[updated monthly]- Comprehensive AI Taxonomy
- In-depth Application Analysis
- Downloadable PDFs for each application
Explore AI use cases in banks
[updated monthly]- Comprehensive AI Taxonomy
- In-depth Application Analysis
- Downloadable PDFs for each application