London, UK, December 18, 2020 - Validata extends its intelligent, DataOps platform, ConnectIQ, with a new Product Recommendation Engine which features advanced machine learning models to enable banks and financial services, make data-driven decisions and provide personalised, frictionless customer experiences to drive customer loyalty and profitability.
ConnectIQ focuses on delivering cloud-native, full-stack solutions leveraging proven methodologies and an analytics and machine learning platform built using the Google Cloud Platform. These machine learning models help clients exploit opportunities hidden in their business data, including ‘Next Best Product, Customer and Data Categorisation, Forecasting and Balance Events and Identification on like-minded customers.
Validata’s Product Recommendation Engine leverages AI and machine learning models and other advanced data mining techniques, to produce recommendations for customers’ future purchase and product recommendations. It automatically collects the data from files and databases around customer, products and purchase history and starts a process of self-learning to obtain accurate, added-value recommendations and relevant customer insights in real-time.
Through its technology-agnostic APIs it can connect to any customer database, and core banking system such as Temenos, Finastra, Oracle Flexcube, retrieve and transform complex data into intelligent insights.
With explainable AI it brings confidence and transparency in the system’s AI generated recommendations and is able to explain in plain language, and justify the reasoning behind these suggestions.
This enables banks to have greater customer lifetime value, better determine customer spending habits and create campaigns that connect with those customers, and get them buying their products.
Vaios Vaitsis, CEO at Validata Group commented, “The speed and quality of business decisions is driving the success or failure, and the best business decisions are informed by data and AI. Validata specializes in helping clients accelerate their transition to becoming modern digital businesses, accelerating innovation on data modernization and intelligent decision-making. Our unique accelerators help banks transform their data and analytics capabilities, increasing the speed to business value.”
Validata’s Product Recommendation Engine leverages AI and machine learning models and other advanced data mining techniques, to produce recommendations for customers’ future purchase and product recommendations. It automatically collects the data from files and databases around customer, products and purchase history and starts a process of self-learning to obtain accurate, added-value recommendations and relevant customer insights in real-time.
Through its technology-agnostic APIs it can connect to any customer database, and core banking system such as Temenos, Finastra, Oracle Flexcube, retrieve and transform complex data into intelligent insights.
With explainable AI it brings confidence and transparency in the system’s AI generated recommendations and is able to explain in plain language, and justify the reasoning behind these suggestions.
This enables banks to have greater customer lifetime value, better determine customer spending habits and create campaigns that connect with those customers, and get them buying their products.
Vaios Vaitsis, CEO at Validata Group commented, “The speed and quality of business decisions is driving the success or failure, and the best business decisions are informed by data and AI. Validata specializes in helping clients accelerate their transition to becoming modern digital businesses, accelerating innovation on data modernization and intelligent decision-making. Our unique accelerators help banks transform their data and analytics capabilities, increasing the speed to business value.”