Singapore-based Oversea-Chinese Banking Corporation (OCBC) is spending more than $7m in the next three years to develop and integrate artificial intelligence (AI) into its products and services including loans financing and wealth advisory. If successfully deployed, the technology could be leveraged to create chatbots capable of responding to customers using voice messaging, allowing them to digitally fill in bank documents via phone conversations with the bank's agents. The bank has already invested $200m on AI projects since it launched a pilot project with OBC last year. OCBC has already introduced a facial-recognition system at one of its branches and launched voice-based commands for iPhone users in February. Pranav Seth, head of the fintech group, said such technologies were “integral to digital banking”.
Singapore-based Oversea-Chinese Banking Corporation (OCBC) is spending more than $7m in the next three years to develop and integrate artificial intelligence (AI) into its products and services including loans financing and wealth advisory. The bank has already invested $200m on AI projects since it launched a pilot project with OBC last year. OCBC has already introduced a facial-recognition system at one of its branches and launched voice-based commands for iPhone users in February. Pranav Seth, head of the fintech group, said such technologies were “integral to digital banking”.