(EMAILWIRE.COM, April 10, 2019 ) 360Quadrants, the world’s only comparison platform that combines expert analysis with crowdsourced reviews, has released a quadrant on AI in Fintech Solutions to help businesses make quicker and more informed decisions.

Artificial Intelligence (AI) in Fintech refers to the theory and development of computer systems capable of performing finance-related tasks that usually require human intelligence. It is an application of AI technology used in the financial sector to design investment strategies, detect anomalies with pattern & voice recognition, and conduct market analysis with data mining. The AI in Fintech solutions market for this quadrant is defined as the summation of AI-enabled Fintech solutions and services.

For this quadrant, the components of AI in Fintech are mainly segmented into solutions and software. Major application areas of AI in Fintech solutions are virtual assistants, business analytics & reporting, and customer behavioral analytics. These solutions have been analyzed based on cloud and on-premise deployment.

Nuance has been identified as an innovator in the AI in Fintech space given its extensive product features, high product quality, reliability, suitable channel strategy, and wide geographical footprint. 360Quadrants also lists competitors of Nuance in the AI in Fintech space.

AI in Fintech offerings from Nuance aim to deliver valuable insights and intelligence from data. The company has an established product portfolio with a robust market presence and business strategy. Some of the major developments of the company include:

Nuance Biometrics to be used by Kennebunk Savings

Kennebunk Savings has picked Nuance Biometrics to reduce instances of fraud and ensure better streamlining of the process of customer authentication. Nuance will deploy voice biometrics to reduce the instances of frauds and also make it easier and secure for customers to access their account information. This is the first institution to use this solution and expects to see benefits for customers in terms of the reduction or elimination of security questions when trying to access their accounts.

Nuance upgrades Security Suite with AI to reduce chances of fraud through digital and voice channels

A next-generation upgrade to Security Suite was announced by Nuance Communications. With this advancement, it has acquired 3rd-gen, deep neural networks, and advanced AI algorithms for the purpose of tackling fraud and for the detection of anomalies within interactions.

Nuance highlights Voice Biometrics at Česká spořitelna

Česká spořitelna, the largest bank in the Czech Republic has become the first in the country to use Nuance’s voice biometric technology to enhance customer service in terms of mobile banking. This helps customers identify themselves when they call customer support at the bank. It matches the voiceprint and behavior of the customer to ascertain his or her identity and authenticate the process.

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