Bank of Singapore Taps SAS’ AI-Powered Communications Surveillance Analytics

American multinational developer of analytics software SAS announced that Bank of Singapore, a member of the OCBC Group, will implement its artificial intelligence (AI) powered communications surveillance analytics in their training and monitoring of client representatives’ performance.

SAS’ Trade and Communications Surveillance solution aims to help the bank improve sales representatives’ performance, compliance and ultimately enhance customer experience.

The surveillance framework and methodology will enable monitoring of the bank’s sales practices and align with regulatory guidelines from the Monetary Authority of Singapore (MAS).

The communications surveillance solution will connect disparate data across structured and unstructured data sources. In-depth text analytics allows financial institutions to delve deeper into conversation topics, sentiments, and due diligence insights.

Advanced analytics will automate the current manual sales and service supervision monitoring and add additional capabilities to uncover unknown behavioral patterns and relationships.

Risk factors are assessed and scored, and evidence is systematically stored supporting the analytical outcome, which is used to drive machine learning. Banks can make decisions based on a combination of analytic findings, bank risks and business policies.

Adoption of best practices can help improve sales culture and supervision, enabling early detection of potential irregularities and as a result improve client experience. Also, enhanced surveillance of interactions across vulnerable groups can build client trust in the bank and its financial advisory process.

An additional benefit is improved productivity. The current manual process requires agents to review voluminous data manually, whereas they will now be able to focus on more value-added tasks.

Alexandre Lotfi

“Now with the AI-powered Trade and Communications surveillance solution, we are able to proactively gather and analyse data automatically and in real time.

This transparent process protects our customers and enhances our reputation for financial jurisprudence and reliability,”

said Alexandre Lotfi, Global Chief Risk Officer, Bank of Singapore.

Randy Goh

“Bank of Singapore’s choice of SAS to be their partner in their drive to improve conduct surveillance and enhance customer experience, validates the robust and intellectual quality of our solution.

We look forward to helping financial institutions and regulatory authorities create a safe and protected environment for Singapore customers,”

said SAS’ Managing Director of Singapore, Randy Goh.

Featured image credit: Edited from Unsplash