Financial Services

Embrace Digitalization with Xenolytix

As we plan for a post COVID-19 world, Financial Services will need to harness the power of technology to transform and grow at scale and speed, while meeting the growing expectations of the customer of the future.

For the Financial Services sector, it is much more than simply modernizing dated core systems. The future has showed up early. Banking has to go beyond cash with digital engagement. The contactless payment trend will continue in Europe, Asia, and North America. Hyper-personalization will continue to define the customer journey in the insurance sector. Data Science and Analytics will enable personalized, contextualized interactions across the entire insurance life cycle, from sales and underwriting, to claims management and support.

Robotic Process Automation (RPA) will continue to impact financial institutions to help them be more efficient and effective. This includes processes such as customer onboarding, verification, risk assessments, security checks, data analysis and reporting, compliance processes as well as most other repetitive administrative activities.

Customers have come to rely on the 24/7 service and expect intelligent chatbots and virtual assistants with conversational interfaces.

Since blockchain is a decentralized ledger with strong focus on cryptography, security, and privacy, it's ideal for banking application. Blockchain is also ideally suited for trading, allowing all participants to perform changes securely, while ensuring that all entries are accurate and immutable. Cross-border Digital Payment process and be simplified and made faster with Blockchain.

A tech-first approach is now the only approach for the FinTech sector when the goal is a higher bottom line. At Xenolytix, we understand the importance of becoming digital. We use the latest emerging technologies to transform the FinTech business. Embrace Digitalization with Xenolytix.

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Customer Service

Automate common customer service request with NLP powered Chatbots.

Clearance & Settlement

Reduce time, costs, and points of friction across the capital markets with Blockchain

Fraud and Risk Management

Improve fraud detection and risk management with Machine Learning.

Fundraising

Raise funds with several alternatives (IEO, ITO, STO) using Blockchain

Redefining Financial Lending

The financial industry is recognizing the transformative impact of blockchain technology to generate new revenue, deliver process efficiency, improve end-user experience and reduce risk in business operations.

Traditional banking institutions underwrite loans by using a system of credit reporting. With blockchain, we’re looking at the future of peer-to-peer loans, faster and more secure loan processes in general, and even complex programmed loans that can approximate syndicated loan structure or mortgages.

Today, loans powered by modern technologies like blockchain present a strong option for consumers looking for more security and trust for their lending needs. Designed to instill trust with its unbiased and decentralized network of nodes, Blockchain replaces costly banks and greatly reduces loan processing time. Instead of paying exorbitant processing fees and waiting up to 60 days for loan approval, individuals and small businesses can now apply and receive approval for a Blockchain-based loan in a matter of minutes. Loans are better when they are decentralized.

Thanks to the openness, security, and transparency of Blockchains, it is possible to make loans and credit available to a larger pool of people than ever before, while the interoperability of Blockchains opens up the possibility for creating a spectrum of new lending products and services.

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Next Generation Fraud Prevention

As financial institutions improve customer ease, hackers are finding new ways to attack. If earlier criminals had to counterfeit client IDs, now getting a person’s account password may be all that’s needed to steal money. Customer loyalty and conversions are affected in both environments, the digital and the physical.

Traditionally, fraud detection is handled through rule-based systems that can require extensive logic and can be difficult to personalize by customer. However, through Machine Learning, fraud detection can be personalized at a customer level. Real-time detection of fraud is a significant way for financial institutions to reduce costs. Machine Learning and Deep Behavioral Networks help undermine scams and protects against card and payments fraud more forcefully and accurately than ever thought possible. It can reduce false positives, increase detection of real fraud, and help refocus the company’s time and resources toward actual cases of fraud and identifying new fraud methods.

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Customer Experience Management

Feasibility, regulation and privacy have all been barriers to tech adoption over the years. But that’s changing—a move brought on not only by choice but necessity. Customers expect real-time transactions, supervised management of their assets, and opportunity to settle any issue online. NLP powered conversational assistants are doing just that.

NLP has the power to help make fast, better-informed decisions, giving companies a competitive edge. It allows financial institutions to assess a credit applicant’s risk, gauge sentiment on their brand across the internet, and more.

Financials services companies can also improve internal processes to improve customer experience.. For example, with NLP, they can leverage intelligent document search, finding relevant information in large volumes of scanned documents or enhance Investment analysis by automating routine analysis of earnings reports and news so that analysts can focus on alpha generation.

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