One of the largest banking groups in the Middle
East to accelerate digital innovation using AWS’s breadth and depth
of functionality to build personalized retail banking experience
for customers
Today, Amazon Web Services (AWS), an Amazon.com company (NASDAQ:
AMZN), announced that Emirates NBD, a leading bank in the Middle
East, is collaborating with AWS to create a culture of innovation
within the bank and is using AWS machine learning (ML) services to
build a personalized retail customer banking experience. Emirates
NBD will also utilize AWS data analytics, Internet of Things (IoT),
Natural Language Processing (NLP), and other advanced technologies
as part of its ongoing efforts to better engage with customers and
simplify banking.
A front-runner in retail banking innovation, Emirates NBD is
working with AWS because of its broad and deep portfolio of cloud
services and the increased security and control Emirates NBD can
achieve in the cloud, and is continuing to invest in AWS as its
preferred provider for machine learning workloads. With AWS,
Emirates NBD will take further advantage of AWS artificial
intelligence and machine learning services including Amazon
SageMaker, a fully managed machine learning service for building,
training, and deploying machine learning models to provide relevant
real-time banking experiences.
To create a more rewarding and customer-centric banking
experience, Emirates NBD is also leveraging Amazon Personalize, an
AWS machine learning service that enables the development of
individualized recommendations to launch new personalized retail
banking applications. One of the first of these applications is a
personal finance manager that uses an automated, self-learning
system to deliver a highly personalized banking experience to
customers in order to predict what each individual customer needs
and match this with the most appropriate solution. The system also
utilizes Natural Language Processing technology so customers can
interact with call center automation in a more natural way. To
support this work, Emirates NBD is using Amazon Polly, a cloud
service that uses advanced deep learning technologies to convert
written content into human-like speech, in its automated call
center to further enhance customer interactions by delivering
lifelike voice banking experiences. As part of Emirates NBD’s
journey with AWS, it is also exploring how to better serve
customers at bank branches with convenient and secure
authentication, leveraging AWS’s image recognition and IoT
solutions.
“Our vision is to be the Middle East’s most innovative financial
services organization and to achieve this we have chosen to work
with the world’s most innovative technology company, Amazon Web
Services,” said Suvo Sarkar, Senior Executive Vice President and
Group Head - Retail Banking & Wealth Management at Emirates
NBD. “Emirates NBD and Amazon share common values of innovation and
customer centricity and we look forward to leveraging AWS’s
technologies and innovation practices to make banking more easy and
intuitive for our customers.”
“Across every industry, companies are starting to meaningfully
use machine learning in their businesses, and AWS offers the
broadest and deepest portfolio of machine learning services to help
them solve some of their biggest challenges. We are excited to see
how these technologies are helping transform the financial services
industry in the Middle East and around the world,” said Andy
Isherwood, Managing Director, Amazon Web Services EMEA. “Emirates
NBD is one of the most valued and innovative financial institutions
in the Middle East, and we look forward to continuing to support
them as they embark on a journey to transform how they serve their
retail banking customers and build their organization into a bank
of the future.”
About Amazon Web Services
For 13 years, Amazon Web Services has been the world’s most
comprehensive and broadly adopted cloud platform. AWS offers over
165 fully featured services for compute, storage, databases,
networking, analytics, robotics, machine learning and artificial
intelligence (AI), Internet of Things (IoT), mobile, security,
hybrid, virtual and augmented reality (VR and AR), media, and
application development, deployment, and management from 66
Availability Zones (AZs) within 21 geographic regions, spanning the
U.S., Australia, Brazil, Canada, China, France, Germany, Hong Kong
Special Administrative Region, India, Ireland, Japan, Korea,
Singapore, Sweden, and the UK. Millions of customers—including the
fastest-growing startups, largest enterprises, and leading
government agencies—trust AWS to power their infrastructure, become
more agile, and lower costs. To learn more about AWS, visit
aws.amazon.com.
About Amazon
Amazon is guided by four principles: customer obsession rather
than competitor focus, passion for invention, commitment to
operational excellence, and long-term thinking. Customer reviews,
1-Click shopping, personalized recommendations, Prime, Fulfillment
by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets,
Fire TV, Amazon Echo, and Alexa are some of the products and
services pioneered by Amazon. For more information, visit
amazon.com/about and follow @AmazonNews.
About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at
31st March 2019, total assets were AED 525.8 Billion (equivalent to
approx. USD 143 Billion). The Group has a significant retail
banking franchise in the UAE and is a key participant in the global
digital banking industry, with over 90 per cent of all financial
transactions and requests conducted outside of its branches. The
bank was declared the Most Innovative Financial Services
Organization of the Year at the 2017 BAI Global Innovation
Awards.
The bank currently has 234 branches and 1076 ATMs and SDMs in
the UAE and overseas and a large social media following, being the
only bank in the Middle East ranked among the top 20 in the ‘Power
100 Social Media Rankings’, compiled by The Financial Brand. It is
a major player in the UAE corporate and retail banking arena and
has strong Islamic Banking, Global Markets & Treasury,
Investment Banking, Private Banking, Asset Management and Brokerage
operations.
The Group has operations in the UAE, the Kingdom of Saudi
Arabia, Egypt, India, Singapore, the United Kingdom and
representative offices in China, Indonesia and Turkey.
The Group is an active participant and supporter of the UAE’s
main development and community initiatives, in close alignment with
the UAE government’s strategies, including financial literacy and
advocacy for inclusion of People with Disabilities under its
#TogetherLimitless platform. Emirates NBD Group is a Premier
Partner and the Official Banking Partner for Expo 2020 Dubai. For
more information, please visit: www.emiratesnbd.com
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version on businesswire.com: https://www.businesswire.com/news/home/20190528005712/en/
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