10 Top AI Banking Products

In their ongoing digital transformation to reduce paperwork, increase speed, lower costs and maximize efficiencies, banks are relying on AI-based technologies. Banks are employing AI to quickly process complex transactions, such as lending applications, while ensuring they still meet compliance guidelines. Here, we look at some of the top financial software products that are using AI to serve the banking sector.

1. Arteria AI

The Arteria AI platform helps financial institutions solve client document complexity at scale. It uses AI to learn, analyze and manage revisions from the beginning of the contract process, from a bullet-point term sheet to the complex process of negotiations and a final document. The Arteria model enables clients to digitize contracts and create access points to downstream personnel and systems. It then applies predictive analytics and machine learning (ML) to remove friction in the negotiation process.

2. Minerva

The AI-based risk assessment platform Minerva is designed to facilitate anti-money laundering at scale. The solution uses neural networks and deep learning models to analyze billions of data points and sources, understanding context, sentiment and risk across structured, unstructured, open-source and proprietary data in real-time. The technology works across 147 languages to help compliance teams get ahead of financial crime, prevent money laundering and comply with government regulations. The AI-based automation returns results 300 times faster, reducing costs by 55% compared to manual processes, according to Minerva.

3. Abrigo Fraud Detection

The Abrigo Fraud Detection platform by Abrigo combines AI-powered inspection and check image analysis with a configurable fraud decision engine to increase the accuracy of fraud detection, uncovering threats missed by traditional tools and manual reviews and automating fraud department workflows. The solution combines the reliability of rules-based fraud detection with AI to identify sophisticated fraud patterns and helps teams increase efficiency with capabilities to approve, decline or engage with customers to get a swift resolution. The technology also provides a fraud risk score to help teams make faster, more accurate decisions and optimize review times.

4. Lendotics

Lendotics, an AI-powered loan qualifying system (LQS), streamlines the credit-seeking process for business owners. By using comprehensive personal and business bureau data, the solution provides thorough due diligence and transparency that goes beyond traditional bank practices. The technology provides data to enable businesses to avoid multiple inquiries and maintain a strong standing with lenders. It extrapolates credit and financial data and matches businesses with banks in the Business Credit Consultants national network that seek relationships based on financial data, location and business type.

5. Sopra Core Banking Software

The latest iteration of the Sopra Core Banking Software by Sopra Banking Software includes open architecture, scalability and integrated AI capabilities to provide the underlying technology for a wide variety of operations across a financial institution, including deposits, payments, lending, compliance and regulatory reporting. The platform integrates with Sopra Banking Software’s Digital Engagement Platform. The technology comes with a pre-configured Model Bank, which is designed to enable financial institution customers to quickly adopt the solution, which includes cloud-native development.

See more: 10 Top AI Banking Companies

6. Bankingly Conversational Banking

Part of Bankingly’s financial services suite, the AI-based Conversational Banking solution provides customers and prospects with 24x7 access to discover products on several messaging channels, such as WhatsApp, Facebook Messenger and Viber. With conversational AI, it gives users the ability to manage accounts, conduct real-time transactions as well as manage loans, checking credit cards, service payments, investments and fixed-terms deposit and credit lines. The solution offers customizable workflows with integrations with CRMs, ERPs and other banking systems while working within the financial institution’s security and compliance protocols.

7. Vaultedge

Vaultedge, a large language model (LLM)-powered document AI, is designed to enable financial institutions to quickly index documents, extract data and chat with complex files to receive instant answers to a wide variety of queries. The customizable solution can ingest documents from multiple sources, classify them, spot errors and extract and validate data using LLM models in a single place, simplifying underwriting and claim decisioning. The technology integrates with a financial institution’s record management systems to automatically transfer data once flagged exceptions are resolved.

8. FinanSeer

FinanSeer by DataSeers is an AI-based software suite designed for banking and payment operations. The platform is comprised of four separate but integrated modules to handle different parts of a financial institution’s operations: ReconSeer, FraudSeer, ComplianSeer and StrataSeer. The four modules include dozens of features, each designed to facilitate best financial practices. The solution cleans, homogenizes and automates data workflows while increasing operational efficiencies across finance, compliance, fraud and risk, customer support and marketing. It handles various activities, from onboarding to suspicious activity monitoring and regulatory filings.

9. Shastic

Shastic, an AI banking workflow automation platform, is designed to automate repetitive tasks for financial institutions in their lending operations, speeding up processes and improving the end-user engagement experience. The lending automation is designed to mitigate business through a configurable, personalized and responsive approach and removing processing bottlenecks to reduce loan management time. The solution integrates with major processing and origination systems and select core providers and meets industry compliance standards.

10. Sensa Investigation Hub

Sensa Investigation Hub by SymphonyAI is an enterprise-wide, generative AI solution for financial services investigation. The platform is configurable to various use cases, business units and asset classes. It enables a financial institution to centralize financial crime risk and anti-money laundering (AML) across business units. The technology encompasses AML, sanctions, know your customer (KYC) and customer due diligence (CDD) and fraud, while also providing configurability with the goal of ensuring transparency and auditability. It also includes a GenAI assistant, Sensa Copilot, to source, summarize and analyze data.

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