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Wed, Oct 24, 2018 | Last Updated 1:00 am IST

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Startups asked to use AI for improved banking operations

Startups asked to use AI for improved banking operations
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Accordingly Hyderabad based startup catalyst T-Hub and HSBC have announced the selection of all five startups in the first wave of their Accelerator 2030 program. Earlier in May, T-Hub and HSBC selected five fintech startups out of 95 for an eight week accelerator program where they would potentially have the opportunity to have their solutions applied to HSBC’s operations globally.



Recently after eight weeks of training, mentorship, and workshops by senior HSBC leadership, the company has decided to go ahead with the solutions developed by all 5 startups. Furthermore as per report the startups were asked to use Artificial Intelligence (AI) and Machine Learning in developing the PoCs, which were presented to a judging panel of leaders from HSBC Operations and a T-Hub team of finance, marketing, and emerging technology experts.

Startups asked to use AI for improved banking operations

Further Abda Digital, Tookitaki Technologies, Capital Quant Solutions, vPhrase Analytics Solutions and Morph.ai are the five selected startups. Moreover Capital Quant Solutions (CQS) developed a PoC for “financial spreading in Credit Services,” with a potential reduction of up to 25%-30% in the monthly hours spent financial spreading. Furthermore Morph.ai developed Chatbot as a Landing Page resulting in a 500% increase in conversions for the same marketing budget. Morph is now exploring opportunities for HSBC’s retail and commercial banking businesses to generate sales leads.

Startups asked to use AI for improved banking operations

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