Innovating Financial Services

Machine Learning
Applications

We can help you transform information-intensive business processes, reduce manual work and errors, minimize costs, and improve customer engagement.

Talk to a consultant

scroll down

What is Machine Learning?

Machine learning is an application of artificial intelligence (AI) that blends algorithms with statistics to find patterns in huge amounts of data. Any type of data – numbers, images, clicks, which can be digitally stored – can be fuel a machine learning algorithm.

We can experience machine learning applications in many of the services that we use today: recommendation systems, search engines, social media feeds, voice assistants and the list goes on. In all of these instances, each platform is collecting as much data about the customers as possible and uses machine learning to make accurate decisions or predictions, for example about what customers might want next.

Intelligent Automation

Accelerate Digital Transformation with
Intelligent Business Automation

Strengths

Machine learning algorithms bring strengths such as the ability to cut through complexity that are different from, but at the same time complementary to, human skills.

Evolution

The modern workplace is transforming into a new environment where employees and their new digital co-workers can benefit together from innovated internal processes, such as chatbots and extensive customer analytics, as well as an improved way of doing business.

Productivity

The purpose of utilizing intelligent business automation is to drive a much more productive relationship between people and digital systems.

Why is machine learning (ML) such an important item on the Financial Services industry IT roadmap?

Risk modeling

In auto insurance, machine learning algorithms can use customer profiles and real-time driving data to estimate policyholders’ risk levels, as well as vetting prospective buyers and making decisions on whether to approve applications.

Claims handling and
price optimization

Applying machine learning to the Financial Services industry enables claims processes to be handled by machine learning models – decisions on whether to pay out on claims, in some
cases, can be made without the need for human intervention.

Based on data gathered by AI and IoT, they can formulate personalized rates to potentially create savings for both
consumers and insurance companies.

AI-Enabled
Fraud Detection

Fraud classification and detection is a key endeavor for financial services companies in their search for an optimal and timely manner to manage risks.

For example, AI can be applied when coupled with a Custom Vision scenario, in which the claim details, such as the parts of the goods, which have been damaged, the severity and other information, are automatically determined by such a model and fed into a fraud detection model afterward.

AI-Driven Fraudulent Claim Detection in Insurance Applications

In our Bucharest edition of the Global AI Bootcamp, we developed
a model during an interactive application exercise that was able to detect fraud at various probability levels, based on the data used in the training session. New claims can be submitted to the service for classification. The app uses the information returned from calls to the Web Service to decide if the claims are fraudulent or not. It also shows the probability that the classification assigned to each claim is correct. It is important to note that the more claims are used to train the model with, the more accurate its probability rate will be.

How can we help you?

We can help you build powerful machine learning capabilities: starting with high-quality data we ensure the accuracy of what-if analysis and support consultations so that you can evolve your machine learning capabilities as your data volume grows.

Digital Acceleration Platforms

Data and Analytics

Software Engineering

Consultancy

blog

Articles & Insights

How COVID-19 accelerates the rise of digital banking

How will the post-pandemic business landscape accelerate digital banking and deliver it to day-to-day practice?

Insight

read more

CIR accreditation for cross-border R&D projects

We're honored to receive the CIR accreditation as an organization carrying out research and development work from the French Government.

News

read more

Business continuity measures & COVID-19

In this regard we have instituted a set of measures across the company to mitigate risks.

NEWS

read more

The 2020 Global Outsourcing 100®

We're listed in IAOP's Top 2020 Global Outsourcing 100 in the Rising Star category for 2020.

News

read more

Delivering an AI project

What is AI, why and when should we use AI if we want to deliver an operational efficiency?

Best Practices

read more

Internship opportunities in Bucharest

Technology is growing at a fast pace, and we, at Softelligence, are growing along with it! That’s why we invite you to join our academy program.

News

read more

Our framework for Software Development

We’ve crafted a set of methods, best practices, and recommended tools, that offer fast delivery and full visibility into the development progress.

Best Practices

read more

20 Trends for 2020

While digital transformation has been on the agenda for years, 2020 is predicted to be a crucial time to accelerate and deploy it across industries.

Consulting

read more

Get to know our new Head of Talent

Head of Talent isn't just a job title on paper, it’s a challenge, a piece of a bigger picture, along with flexibility, creativity and patience.

NEWS

read more

Dashboards: The Ultimate 15 Point Checklist

A business dashboard needs to be user-friendly and support the decision-making process. To help you on the journey towards achieving growth with data, we will delve into 15 dashboard design principles to help you develop comprehensive dashboards.

Consulting

read more

Software Engineering: how we work

We care and contribute, not just execute. We also stand out with excellent domain specialization as well as expertise in modern digital technologies

Media

read more

Setting yourself up for success aka the S.E.T. Program

Recently we've launched the “S.E.T. for Success” Program under the motto "accelerate your emotional transformation". We've invited one of our mentors to share his motivations to join the program.

News

read more

Softelligence joins the MGAA as Supplier Member

Starting June 2019, Softelligence is a registered Supplier Member with the Managing General Agents’ Association (MGAA).

News

read more

Make a difference in your digital transformation roadmap

Ready to infuse AI into your business applications?

Do you have an RFP? (Optional)

allowed characters 0 / 500


Our offices

Meet us in person. Please use the contact information to schedule a discussion in one of our office locations.

global hq & uk office

London, United Kingdom

1 Royal Exchange Avenue,
EC3V 3LT

romania hq & delivery center

Bucharest, Romania

4D Gara Herastrau Street, 2nd Floor
Building C, 020334

+40 31 425 19 08

engineering delivery center

Craiova, Romania

30 Stirbei Voda Blvd,
Malmo Business Center, 200423

+40 35 142 36 80

let’s get in touch

E-mail us at

accelerate@softelligence.net