Case Study in Financial Services Industry | CERAiT Inc. [Video]

Case study example showcasing the impact of AI on financal services businesses:

Case Study: Enhancing Fraud Detection and Customer Insights with AI

Client: A mid-sized regional bank

Challenge:

Client was struggling with:

1. Rising instances of fraudulent transactions, costing millions annually.
2. Difficulty in analyzing customer data to offer personalized financial products.

Solution:

1. AI-Powered Fraud Detection:

   • Implemented a machine learning model to analyze transaction patterns in real-time.
   • Flagged unusual activities (e.g., large international transactions or high-frequency purchases) for review.
   • Reduced false positives by using advanced anomaly detection techniques.

2. Customer Insights Platform:

   • Built a recommendation engine to analyze customer behavior and financial profiles.
   • Suggested personalized credit card offers, loans, and investment options based on customer needs and risk tolerance.

3. Automation of Manual Processes:

   • Automated manual review of flagged transactions, reducing human workload and accelerating fraud resolution.
   • Streamlined customer onboarding by using AI to verify documents and detect discrepancies.

Implementation Timeframe: 16 weeks

Results…