Digital Transformation Case Study​

How the Bank of England is driving innovation with
Squirro Cognitive Search

Digital Transformation Case Study​

Breaking Barriers to Drive Digital Transformation in a Central Bank

In June 2019, the Bank of England published the report “The Future of Finance” with the commitment to become a world-class RegTech authority. As one of the first steps, the institution set up the goal to find a technology to use information in a more effective and efficient manner. That’s when the story of the collaboration with Squirro begins.

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A Case Study About how to Successfully Drive Digital Transformation

We’re still seeing continued high usage, and the overwhelming feedback from users is that it’s intuitive, they can very easily find things (…) Normally when you deploy new systems you are desperately going round the teams and badgering them to try it. Here, they are badgering us. Our waiting list for demos is huge.”

Helen Packard, Digital Transformation Lead in the Bank of England

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The Case Study in A Snapshot

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Key Elements of the Project

The challenges

  • Volume and complexity of unstructured data
  • Limitations of the legacy document system
  • Impact of Covid-19 in project management

The SOLUTION

  • Squirro Cognitive Search: AI and ML-powered search based on user’s intent
  • Unified search across all data sources
  • Intuitive dashboards to save searches and documents, and extract tables from PDFs

The key outcomes

  • Increased efficiency and effectiveness
  • Great feedback and adoption rates from users
  • Huge potential of Squirro’s insights engine for new use cases
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