Local bank enhances customer experience through AI technologies

Shanghai Pudong Development Bank (SPDB) have announced they are introducing more artificial intelligence technology into practical business scenarios and aim to deliver a more convenient banking experience for their customers.

Voice recognition, intelligent robot call-outs and automatic video retrieval technologies are now being applied, the Shanghai-based joint-stock commercial lender said.

All of these technologies aim to reduce the burden of physical operations and improve service response efficiency for customers.

The Shanghai branch of SPDB is the first bank in Shanghai to use AI to perform compliance testing for the sales and marketing of wealth management products.

To better protect customers’ rights, banks are required by the former China Banking Regulatory Commission to do automatic and video recording while selling wealth management products to individuals. However, the process used to be very time-consuming and some disputes arose due to poor communication between staff and their clients.

Now, with the help of the newly-launched voice recognition system, every deal will be monitored and displayed digitally. The system will then analyze what wealth managers have said to customers and detect whether it is compliant by extracting key words.

If any defects are found in the audio and video recording process, the system will send an alarm signal to the wealth manager. This technology has greatly improved work efficiency while meeting regulatory requirements.

SPDB’s Shanghai office added that they are committed to building a digital banking ecosystem and to continue innovating financial services and offerings to better meet customers’ needs.