Expert.ai and Fincons Group Extend the Use of Natural Language in Insurance and Financial Services via APIs
ROCKVILLE, Md., April 8, 2021 /PRNewswire/ -- Fincons Group increases its support of the digital transformation within financial services, enhancing its offering for banks and insurance companies with the expert.ai Natural Language API and expert.ai Studio.
The cloud-based expert.ai NL API provides developers and data scientists deep language understanding without requiring IT infrastructure, reducing development cost while optimizing natural language processing (NLP) applications. Smart from the start, expert.ai Studio is a downloadable fully integrated development environment for building custom applications leveraging advanced expert.ai AI capabilities for categorization, extraction etc. to meet specific customer needs.
For banks and insurance companies, the need to accelerate innovation by leveraging artificial intelligence applied to text analysis via NLU is an essential factor for creating value and increasing competitiveness. However, legacy or fragmented systems and long implementation times increase costs and often create barriers to digital transformation. The use of APIs in a practical and fully integrated development environment for building and deploying a custom AI-based text model makes application development more agile, faster, and facilitates the integration of innovative functionalities into the existing infrastructure. Fincons has extensive experience creating tailored solutions for specific customer needs which has led to the development of advanced AI NLU solutions, driven by expert.ai NL API and expert.ai Studio.
"By using AI applied to natural language, companies in the financial services and insurance sector can derive tangible value from their information. The potential offered by expert.ai in terms of its API and development environment is a critical success factor for initiating change in a way that is not only fast, but also predictable and easy," said Giuliano Altamura, Global Financial Services and Insurance Business Unit General Manager at Fincons Group. "Our partnership with expert.ai will allow us to offer an enriched proposition of digital transformation solutions. In fact, we can provide even greater support to customers in extracting relevant information from complex and unstructured texts and automating tasks to take operational efficiency to the next level."
The integration of Fincons Group's technical and functional expertise in banking and insurance, combined with the practicality of the expert.ai NL API and the easeof the expert.ai Studio development environment, allows developers to streamline the design of new functionalities and development of applications, including: chatbots, virtual assistants, advanced recommendation engines, natural language mobile payment systems, smart claims, automatic email management, and the analysis and comparison of policies and contracts, among many others.
"We are excited to deepen the use of our NL API into the financial services vertical," said Gavin Sollinger, Head of Global Channel Development at expert.ai. "The combination of Fincons Group's industry experience with the skills of expert.ai-certified data scientists and developers using our solutions will support banks and insurance companies in their digital evolution journeys. By leveraging the ability to understand natural language, Fincons will optimize the development of new AI NLU apps that automate expertise in mission critical processes."
Webinar session – A practical AI Adoption for Financial Services: Natural Language Understanding for improving efficiency and scaling business
Fincons Group and expert.ai will present the benefits of expert.ai NL API and expert.ai Studio for banks and insurance companies in a webinar session on 21 April 2021, at 11 am EDT/5 pm CEST: https://bit.ly/2PN2Psf
About Fincons Group
Fincons is a consulting and system integration company, providing a broad range of services and solutions in strategy, digital, technology and operations to a diverse range of industries. In the Financial Services & Insurance sector, Fincons has long term and successful relationships with the main international software vendors, providing customized solutions for different business processes and supporting its clients during their digital transformation journeys. With over 2000 employees worldwide and 38 years of experience in consulting and system integration, Fincons Group has offices in Switzerland (Küssnacht Am Rigi, Bern, Zurich, Lugano), Italy (Milan, Verona, Rome, Bari, Catania), Germany (Munich), in the UK (London), in France (Paris) and in the US (New York, Los Angeles).
Expert.ai is the premier artificial intelligence platform for language understanding. Its unique hybrid approach to NL combines symbolic human-like comprehension and machine learning to transform language-intensive processes into practical knowledge, providing the insight required to improve decision making throughout organizations. By offering a full range of on-premise, private and public cloud offerings, expert.ai augments business operations, accelerates and scales data science capabilities and simplifies AI adoption across a vast range of industries including Insurance, Banking & Finance, Publishing & Media, Defense & Intelligence, Life Science & Pharma, Oil Gas & Energy, and more. The expert.ai brand is owned by Expert System (EXSY:MIL), that has cemented itself at the forefront of natural language solutions, and serves global businesses such as AXA XL, Zurich Insurance Group, Generali, The Associated Press, Bloomberg INDG, BNP Paribas, Rabobank, Dow Jones, Gannett, and EBSCO.
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