New Squirro solution uses power of AI to bring deep customer insight to financial services firms
Squirro for Corporate Financial Services uses AI to maximise the potential of unstructured data, unearthing new deals and improving the bottom line
Zurich, London, 18 January 2018 –Squirro, the AI driven context intelligence and insights solution provider, has announced the launch of its new financial services (FS) solution, Squirro for Corporate Financial Services, an artificial intelligence (AI) driven solution that unlocks the insight within the vast amounts of unstructured data held by FS firms.
Squirro for Corporate Financial Services is initially targeted at three different businesses within the financial services industry – Investment Banking, Corporate and Institutional Banking, and Real Estate – and the AI-based solution looks at both structured and unstructured data to deliver to organisations a deep understanding of their clients, market conditions and any potential new opportunities.
“The insight within unstructured data is far greater than structured data, but most corporate FS firms are only benefitting from a tiny fraction of that insight, missing out on valuable deals and failing to anticipate their clients’ needs,” said Dr. Dorian Selz, CEO and co-founder, Squirro. “Squirro for Corporate Financial Services will help anyone in investment banking, real estate or the wider corporate finance world to address these issues, offering a true 360-degree of clients and providing actionable recommendations as to when and how best to approach them.”
The new Squirro solution takes data from news feeds, social media, earnings call transcripts, multiple CRM platforms, email, call notes and much more. It adds structure to that data to provide users with a comprehensive understanding of what their clients are doing and alerting them to any potential new deals or leads.
With such a wide variety of factors that can trigger a deal or opportunity in corporate finance, the AI-powered automation of Squirro for Corporate Financial Services means that significant events and catalysts that could lead to new opportunities are automatically identified and highlighted to users. The solution also offers actionable recommendations, that advise on best a banker can take advantage of each opportunity.
“Corporate financial services is an incredibly fast-paced sector and remains driven by strong client relationships,” continued Dr Dorian Selz. “There is also a great emphasis placed on being first to contact clients about a potential deal, and currently organisations across the world are missing out on millions or even billions in missed opportunities. Squirro for Corporate Financial Services uses the power of AI to monitor and analyse masses of unstructured data, meaning users can identify opportunities they otherwise would not have been aware of.”
Investment banking, corporate and institutional banking, as well as real estate are all heavily research-based, much of which is carried out manually, and is both time-consuming and often lacking depth, with researchers wading through reams of unstructured and siloed data. The AI-powered automation of Squirro for Corporate Financial Services can save hundreds of man hours on research and is more accurate and comprehensive than a manual approach could ever be.
Squirro for Corporate Financial Services is based on the firm’s new platform TRINITY, an advanced technology that places Artificial Intelligence (AI) and Machine Learning (ML) right at the heart of the enterprise.
“Artificial intelligence has been mostly hype to this point, but that is set to change in 2018,” concluded Dr Dorian Selz. “When organisations use it for a specific purpose as opposed to a ‘catch all’ solution, AI’s analytic power can be remarkable and we are bringing this power to the corporate financial services sector with the launch of Squirro for Corporate Financial Services.”
Gloria Fernandez, Marketing Director EMEA & Asia
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Steven Grinberg, Marketing Director North America
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