This week, C3 joined Hewlett Packard Enterprise at Sibos, a global financial services event attended by Fortune Global 500 banks. This year’s event, held in Sydney, focused on digital economy themes including how data and AI drive innovation and business model renewal, technologies address financial crime and cybersecurity challenges, and banks are adapting to evolving geopolitical and regulatory priorities.
Earlier this year, C3 and HPE introduced the C3 AI Appliance to addresses the exploding AI/IoT market, estimated to exceed $250 billion by 2021. The C3 AI Appliance runs the C3 Platform and applications in on-premises or hybrid cloud and edge computing environments for AI and IoT use cases in financial services and other industries.
Built on the C3 Platform, C3 applications for banking use artificial intelligence and machine learning technologies to provide financial services organizations with actionable insights for business-critical challenges, including customer responsiveness, operational efficiency, and risk management.
The C3 Applications for banking include C3 Anti-Money Laundering, an AI-enabled, workflow-centric application that uses machine learning techniques to boost the accurate detection of illegal money laundering activities. With C3 Anti-Money Laundering, financial services organizations can reduce false positive alerts by as much as 85 percent, while increasing true suspicious activity (SAR) identification by as much as 200 percent.
Other C3 Applications for Banking include:
- C3 Intraday Liquidity Management: identifies globally optimal liquidity positions in real-time
- C3 Credit Risk Management: reduces exposure to credit risk and loss through the early identification of conditions that may affect risk profiles
- C3 Trade Surveillance: detects suspicious trading behavior indicative of market misconduct
- C3 Securities Lending Optimization: prioritizes securities locate requests by expected availability, likelihood of fulfillment, and potential profitability
- C3 Customer Churn Prevention: improves the profitability of customer mix, lowers customer attrition rate, and increases the efficiency of retention activities
Sibos is organized by the Society for Worldwide Interbank Financial Telecommunication. The 2018 Sibos event was held Oct 22-25 at the International Convention Center Sydney.